Delaware
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23-3016517
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(State or other jurisdiction of
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(IRS Employer
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incorporation)
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Identification No.)
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The Bancorp, Inc.
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Date: February 1, 2016
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By:
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/s/Paul Frenkiel
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Paul Frenkiel
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Chief Financial Officer and Secretary
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Exhibit No.
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Description
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EX-99.1
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•
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Gain of $33.5 million on the sale of the majority of the health savings account ("H.S.A.") administration business.
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•
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Gain of $14.5 million on sales of tax exempt securities for tax planning purposes.
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•
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Increases over prior year loan balances in security-backed lines of credit ("SBLOC") 37%, Small Business Administration ("SBA") 45% and Leasing 19%.
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•
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18% increase in net interest income to $18.6 million in fourth quarter 2015 compared to $15.7 million in fourth quarter 2014.
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•
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Regulatory lookback expense of $14.8 million.*
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•
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Loans and continuing operations loans held for sale totaled $1.57 billion at December 31, 2015 compared to $1.09 billion at December 31, 2014, a 44% increase.
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•
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Tier one capital to assets, tier one capital to risk-weighted assets, total capital to risk-weighted assets and common equity-tier 1 were 7.21%, 14.74%, 14.93% and 14.74%, compared to well capitalized minimums of 5%, 8%, 10% and 6.5%.
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Non-recurring income/expense
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Three months ended
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Year ended
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||||||
December 31, 2015
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December 31, 2015
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|||||||
(dollars in thousands)
|
||||||||
Pre-tax income - continuing operations
|
$
|
31,156
|
$
|
8,416
|
||||
Pre-tax income - discontinued operations
|
3,607
|
13,800
|
||||||
Continuing operations
|
||||||||
Gain on sale of health savings portfolio
|
(33,531
|
)
|
(33,531
|
)
|
||||
Gain on sale of securities
|
(14,497
|
)
|
(14,435
|
)
|
||||
Gain on sale of warrants
|
(2,691
|
)
|
(2,691
|
)
|
||||
BSA consultant and lookback fees *
|
14,801
|
41,444
|
||||||
Civil money penalty
|
3,000
|
3,000
|
||||||
Additional FDIC assessment
|
920
|
920
|
||||||
Severance for health savings division
|
550
|
550
|
||||||
Regulatory/governance related legal fees
|
603
|
2,292
|
||||||
Discontinued operations
|
||||||||
Restatement related audit fees
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-
|
2,560
|
||||||
Other real estate owned expense
|
1,423
|
3,199
|
||||||
Pre-tax income after analysis of non-recurring income/expense
|
$
|
5,341
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$
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25,524
|
||||
* Lookback expense is being incurred to analyze historical transactions for compliance with suspicious activity reporting requirements.
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The Bancorp, Inc.
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||||||||||||||||
Financial highlights
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||||||||||||||||
(unaudited)
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||||||||||||||||
Three months ended
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Year ended
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|||||||||||||||
December 31,
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December 31,
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|||||||||||||||
Condensed income statement
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2015
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2014
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2015
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2014
|
||||||||||||
(dollars in thousands except per share data)
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||||||||||||||||
Net interest income
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$
|
18,582
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$
|
15,715
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$
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69,931
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$
|
59,425
|
||||||||
Provision for loan and lease losses
|
300
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(1,404
|
)
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2,100
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1,202
|
|||||||||||
Non-interest income
|
||||||||||||||||
Service fees on deposit accounts
|
1,889
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2,060
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7,468
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6,339
|
||||||||||||
Card payment and ACH processing fees
|
1,489
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1,413
|
5,731
|
5,402
|
||||||||||||
Prepaid card fees
|
11,744
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12,614
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47,496
|
51,287
|
||||||||||||
Gain (loss) on sale of loans
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3,333
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(926
|
)
|
10,080
|
12,542
|
|||||||||||
Gain on sale of investment securities
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14,497
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85
|
14,435
|
450
|
||||||||||||
Gain on sale of health savings portfolio
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33,531
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-
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33,531
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-
|
||||||||||||
Leasing income
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367
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663
|
2,094
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2,899
|
||||||||||||
Debit card income
|
253
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383
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1,611
|
1,679
|
||||||||||||
Affinity fees
|
967
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745
|
3,358
|
2,596
|
||||||||||||
Other non-interest income
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4,430
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638
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9,496
|
1,855
|
||||||||||||
Total non-interest income
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72,500
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17,675
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135,300
|
85,049
|
||||||||||||
Non-interest expense
|
||||||||||||||||
Bank Secrecy Act and lookback consulting expenses
|
14,801
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3,883
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41,444
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8,801
|
||||||||||||
Other non-interest expense
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44,825
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33,745
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153,271
|
127,179
|
||||||||||||
Total non-interest expense
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59,626
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37,628
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194,715
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135,980
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||||||||||||
Income (loss) from continuing operations before income tax expense
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31,156
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(2,834
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)
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8,416
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7,292
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|||||||||||
Income tax expense (benefit)
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12,082
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(13,929
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)
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1,265
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(14,523
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)
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|||||||||
Net income from continuing operations
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19,074
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11,095
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7,151
|
21,815
|
||||||||||||
Net income from discontinued operations, net of tax
|
498
|
9,096
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7,234
|
35,294
|
||||||||||||
Net income available to common shareholders
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$
|
19,572
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$
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20,191
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$
|
14,385
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$
|
57,109
|
||||||||
Net income per share from continuing operations - basic
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$
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0.51
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$
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0.31
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$
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0.19
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$
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0.58
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||||||||
Net income per share from discontinued operations - basic
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$
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0.01
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$
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0.24
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$
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0.19
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$
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0.94
|
||||||||
Net income per share - basic
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$
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0.52
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$
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0.55
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$
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0.38
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$
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1.52
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||||||||
Net income per share from continuing operations - diluted
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$
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0.51
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$
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0.30
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$
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0.19
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$
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0.57
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||||||||
Net income per share from discontinued operations - diluted
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$
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0.01
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$
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0.22
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$
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0.19
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$
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0.92
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||||||||
Net income per share - diluted
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$
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0.52
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$
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0.52
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$
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0.38
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$
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1.49
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||||||||
Common stock shares outstanding
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37,861,303
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37,808,777
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37,861,303
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37,808,777
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Balance sheet
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December 31,
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September 30,
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June 30,
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December 31,
|
||||||||||||
2015
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2015
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2015
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2014
|
|||||||||||||
(dollars in thousands)
|
||||||||||||||||
Assets:
|
||||||||||||||||
Cash and cash equivalents
|
||||||||||||||||
Cash and due from banks
|
$
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7,643
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$
|
4,002
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$
|
13,269
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$
|
8,665
|
||||||||
Interest earning deposits at Federal Reserve Bank
|
1,147,519
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995,441
|
936,989
|
1,059,320
|
||||||||||||
Securities sold under agreements to resell
|
-
|
37,970
|
40,068
|
46,250
|
||||||||||||
Total cash and cash equivalents
|
1,155,162
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1,037,413
|
990,326
|
1,114,235
|
||||||||||||
Investment securities, available-for-sale, at fair value
|
1,070,098
|
1,316,705
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1,370,027
|
1,493,639
|
||||||||||||
Investment securities, held-to-maturity
|
93,590
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93,604
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93,649
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93,765
|
||||||||||||
Loans held for sale, at fair value
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489,938
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354,600
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284,501
|
217,080
|
||||||||||||
Loans, net of deferred fees and costs
|
1,078,077
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994,518
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968,033
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874,593
|
||||||||||||
Allowance for loan and lease losses
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(4,400
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)
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(4,194
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)
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(4,352
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)
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(3,638
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)
|
||||||||
Loans, net
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1,073,677
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990,324
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963,681
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870,955
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||||||||||||
Federal Home Loan Bank & Atlantic Central Bankers Bank stock
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1,062
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1,063
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1,063
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1,002
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||||||||||||
Premises and equipment, net
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21,631
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18,893
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19,271
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17,697
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||||||||||||
Accrued interest receivable
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9,471
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11,232
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11,526
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11,251
|
||||||||||||
Intangible assets, net
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4,929
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5,248
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5,541
|
6,228
|
||||||||||||
Deferred tax asset, net
|
35,457
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33,857
|
35,874
|
33,673
|
||||||||||||
Investment in unconsolidated entity
|
180,950
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186,656
|
187,186
|
193,595
|
||||||||||||
Assets held for sale
|
584,916
|
611,729
|
651,158
|
887,929
|
||||||||||||
Other assets
|
46,806
|
53,123
|
43,804
|
45,268
|
||||||||||||
Total assets
|
$
|
4,767,687
|
$
|
4,714,447
|
$
|
4,657,607
|
$
|
4,986,317
|
||||||||
Liabilities:
|
||||||||||||||||
Deposits
|
||||||||||||||||
Demand and interest checking
|
$
|
3,602,376
|
$
|
4,002,638
|
$
|
3,993,393
|
$
|
4,289,586
|
||||||||
Savings and money market
|
383,832
|
376,577
|
321,264
|
330,798
|
||||||||||||
Time deposits
|
428,549
|
-
|
1,400
|
1,400
|
||||||||||||
Total deposits
|
4,414,757
|
4,379,215
|
4,316,057
|
4,621,784
|
||||||||||||
Securities sold under agreements to repurchase
|
925
|
1,034
|
2,357
|
19,414
|
||||||||||||
Subordinated debenture
|
13,401
|
13,401
|
13,401
|
13,401
|
||||||||||||
Other liabilities
|
17,649
|
7,100
|
10,038
|
12,695
|
||||||||||||
Total liabilities
|
$
|
4,446,732
|
$
|
4,400,750
|
$
|
4,341,853
|
$
|
4,667,294
|
||||||||
Shareholders' equity:
|
||||||||||||||||
Common stock - authorized, 50,000,000 shares of $1.00 par value; 37,861,303 and 37,808,777 shares issued at December 31, 2015 and 2014, respectively
|
37,861
|
37,858
|
37,858
|
37,809
|
||||||||||||
Treasury stock (100,000 shares)
|
(866
|
)
|
(866
|
)
|
(866
|
)
|
(866
|
)
|
||||||||
Additional paid-in capital
|
300,549
|
299,470
|
298,978
|
297,987
|
||||||||||||
Accumulated deficit
|
(14,495
|
)
|
(33,429
|
)
|
(27,854
|
)
|
(28,242
|
)
|
||||||||
Accumulated other comprehensive income (loss)
|
(2,094
|
)
|
10,664
|
7,638
|
12,335
|
|||||||||||
Total shareholders' equity
|
320,955
|
313,697
|
315,754
|
319,023
|
||||||||||||
Total liabilities and shareholders' equity
|
$
|
4,767,687
|
$
|
4,714,447
|
$
|
4,657,607
|
$
|
4,986,317
|
Average balance sheet and net interest income
|
Three months ended December 31, 2015
|
Three months ended December 31, 2014
|
||||||||||||||||||||||
(dollars in thousands)
|
||||||||||||||||||||||||
Average
|
Average
|
Average
|
Average
|
|||||||||||||||||||||
Assets:
|
Balance
|
Interest
|
Rate
|
Balance
|
Interest
|
Rate
|
||||||||||||||||||
Interest-earning assets:
|
||||||||||||||||||||||||
Loans net of unearned fees and costs **
|
$
|
1,416,176
|
$
|
14,502
|
4.10
|
%
|
$
|
1,036,760
|
$
|
9,869
|
3.81
|
%
|
||||||||||||
Leases - bank qualified*
|
28,658
|
487
|
6.80
|
%
|
16,341
|
229
|
5.61
|
%
|
||||||||||||||||
Investment securities-taxable
|
1,022,914
|
5,290
|
2.07
|
%
|
1,014,491
|
4,859
|
1.92
|
%
|
||||||||||||||||
Investment securities-nontaxable*
|
248,662
|
2,203
|
3.54
|
%
|
530,431
|
4,843
|
3.65
|
%
|
||||||||||||||||
Interest earning deposits at Federal Reserve Bank
|
751,126
|
595
|
0.32
|
%
|
504,612
|
332
|
0.26
|
%
|
||||||||||||||||
Federal funds sold and securities purchased under agreement to resell
|
31,406
|
113
|
1.44
|
%
|
49,250
|
166
|
1.35
|
%
|
||||||||||||||||
Net interest earning assets
|
3,498,942
|
23,190
|
2.65
|
%
|
3,151,885
|
20,298
|
2.58
|
%
|
||||||||||||||||
Allowance for loan and lease losses
|
(4,178
|
)
|
(8,028
|
)
|
||||||||||||||||||||
Assets held for sale
|
617,983
|
6,650
|
4.30
|
%
|
1,234,255
|
11,161
|
3.62
|
%
|
||||||||||||||||
Other assets
|
322,901
|
28,509
|
||||||||||||||||||||||
$
|
4,435,648
|
$
|
4,406,621
|
|||||||||||||||||||||
Liabilities and Shareholders' Equity:
|
||||||||||||||||||||||||
Deposits:
|
||||||||||||||||||||||||
Demand and interest checking
|
$
|
3,518,223
|
$
|
2,689
|
0.31
|
%
|
$
|
3,709,957
|
$
|
2,302
|
0.25
|
%
|
||||||||||||
Savings and money market
|
378,301
|
581
|
0.61
|
%
|
323,101
|
345
|
0.43
|
%
|
||||||||||||||||
Time
|
174,530
|
263
|
0.60
|
%
|
3,077
|
13
|
1.69
|
%
|
||||||||||||||||
Total deposits
|
4,071,054
|
3,533
|
0.35
|
%
|
4,036,135
|
2,660
|
0.26
|
%
|
||||||||||||||||
Short-term borrowings
|
18,152
|
12
|
0.26
|
%
|
-
|
-
|
0.00
|
%
|
||||||||||||||||
Repurchase agreements
|
1,148
|
1
|
0.35
|
%
|
18,191
|
13
|
0.29
|
%
|
||||||||||||||||
Subordinated debt
|
13,401
|
120
|
3.58
|
%
|
13,401
|
135
|
4.03
|
%
|
||||||||||||||||
Total deposits and interest bearing liabilities
|
4,103,755
|
3,666
|
0.36
|
%
|
4,067,727
|
2,808
|
0.28
|
%
|
||||||||||||||||
Other liabilities
|
13,313
|
20,884
|
||||||||||||||||||||||
Total liabilities
|
4,117,068
|
4,088,611
|
||||||||||||||||||||||
Shareholders' equity
|
318,580
|
318,010
|
||||||||||||||||||||||
$
|
4,435,648
|
$
|
4,406,621
|
|||||||||||||||||||||
Net interest income on tax equivalent basis*
|
$
|
26,174
|
$
|
28,651
|
||||||||||||||||||||
Tax equivalent adjustment
|
942
|
1,775
|
||||||||||||||||||||||
Net interest income
|
$
|
25,232
|
$
|
26,876
|
||||||||||||||||||||
Net interest margin *
|
2.52
|
%
|
2.62
|
%
|
||||||||||||||||||||
|
||||||||||||||||||||||||
* Full taxable equivalent basis, using a 35% statutory tax rate.
|
||||||||||||||||||||||||
** Includes loans held for sale.
|
Average balance sheet and net interest income
|
Year ended December 31, 2015
|
Year ended December 31, 2014
|
||||||||||||||||||||||
(dollars in thousands)
|
||||||||||||||||||||||||
Average
|
Average
|
Average
|
Average
|
|||||||||||||||||||||
Assets:
|
Balance
|
Interest
|
Rate
|
Balance
|
Interest
|
Rate
|
||||||||||||||||||
Interest-earning assets:
|
||||||||||||||||||||||||
Loans net of unearned fees and costs **
|
$
|
1,245,189
|
$
|
48,733
|
3.91
|
%
|
$
|
903,681
|
$
|
35,849
|
3.97
|
%
|
||||||||||||
Leases - bank qualified*
|
25,126
|
1,734
|
6.90
|
%
|
17,400
|
938
|
5.39
|
%
|
||||||||||||||||
Investment securities-taxable
|
989,705
|
19,918
|
2.01
|
%
|
1,031,584
|
20,662
|
2.00
|
%
|
||||||||||||||||
Investment securities-nontaxable*
|
452,526
|
16,646
|
3.68
|
%
|
477,384
|
17,454
|
3.66
|
%
|
||||||||||||||||
Interest earning deposits at Federal Reserve Bank
|
935,093
|
2,354
|
0.25
|
%
|
720,240
|
1,792
|
0.25
|
%
|
||||||||||||||||
Federal funds sold and securities purchased under agreement to resell
|
40,402
|
578
|
1.43
|
%
|
33,814
|
462
|
1.37
|
%
|
||||||||||||||||
Net interest-earning assets
|
3,688,041
|
89,963
|
2.44
|
%
|
3,184,103
|
77,157
|
2.42
|
%
|
||||||||||||||||
Allowance for loan and lease losses
|
(4,111
|
)
|
(3,521
|
)
|
||||||||||||||||||||
Assets held for sale
|
715,116
|
28,925
|
4.04
|
%
|
1,162,319
|
49,891
|
4.29
|
%
|
||||||||||||||||
Other assets
|
313,232
|
109,888
|
||||||||||||||||||||||
$
|
4,712,278
|
$
|
4,452,789
|
|||||||||||||||||||||
Liabilities and Shareholders' Equity:
|
||||||||||||||||||||||||
Deposits:
|
||||||||||||||||||||||||
Demand and interest checking
|
$
|
3,975,475
|
$
|
10,982
|
0.28
|
%
|
$
|
3,746,958
|
$
|
9,097
|
0.24
|
%
|
||||||||||||
Savings and money market
|
337,168
|
1,867
|
0.55
|
%
|
366,160
|
1,574
|
0.43
|
%
|
||||||||||||||||
Time
|
44,789
|
275
|
0.61
|
%
|
7,974
|
96
|
1.20
|
%
|
||||||||||||||||
Total deposits
|
4,357,432
|
13,124
|
0.30
|
%
|
4,121,092
|
10,767
|
0.26
|
%
|
||||||||||||||||
Short-term borrowings
|
4,575
|
12
|
0.26
|
%
|
5
|
-
|
0.00
|
%
|
||||||||||||||||
Repurchase agreements
|
5,224
|
15
|
0.29
|
%
|
17,496
|
50
|
0.29
|
%
|
||||||||||||||||
Subordinated debt
|
13,401
|
448
|
3.34
|
%
|
13,401
|
478
|
3.57
|
%
|
||||||||||||||||
Total deposits and interest bearing liabilities
|
4,380,632
|
13,599
|
0.31
|
%
|
4,151,994
|
11,295
|
0.27
|
%
|
||||||||||||||||
Other liabilities
|
10,403
|
17,721
|
||||||||||||||||||||||
Total liabilities
|
4,391,035
|
4,169,715
|
||||||||||||||||||||||
Shareholders' equity
|
321,243
|
283,074
|
||||||||||||||||||||||
$
|
4,712,278
|
$
|
4,452,789
|
|||||||||||||||||||||
Net interest income on tax equivalent basis*
|
105,289
|
115,753
|
||||||||||||||||||||||
Tax equivalent adjustment
|
6,433
|
6,437
|
||||||||||||||||||||||
Net interest income
|
$
|
98,856
|
$
|
109,316
|
||||||||||||||||||||
Net interest margin *
|
2.37
|
%
|
2.60
|
%
|
||||||||||||||||||||
|
||||||||||||||||||||||||
* Full taxable equivalent basis, using a 35% statutory tax rate.
|
||||||||||||||||||||||||
** Includes loans held for sale.
|
Allowance for loan and lease losses:
|
Year ended
|
|||||||||||||||
December 31,
|
December 31,
|
|||||||||||||||
2015
|
2014
|
|||||||||||||||
(dollars in thousands)
|
||||||||||||||||
Balance in the allowance for loan and lease losses at beginning of period (1)
|
$
|
3,638
|
$
|
3,881
|
||||||||||||
Loans charged-off:
|
||||||||||||||||
SBA non real estate
|
112
|
307
|
||||||||||||||
Direct lease financing
|
30
|
323
|
||||||||||||||
SBLOC
|
-
|
3
|
||||||||||||||
Other consumer loans
|
1,219
|
871
|
||||||||||||||
Total
|
1,361
|
1,504
|
||||||||||||||
Recoveries:
|
||||||||||||||||
SBA non real estate
|
-
|
12
|
||||||||||||||
Direct lease financing
|
-
|
25
|
||||||||||||||
Other consumer loans
|
23
|
22
|
||||||||||||||
Total
|
23
|
59
|
||||||||||||||
Net charge-offs
|
1,338
|
1,445
|
||||||||||||||
Provision charged to operations
|
2,100
|
1,202
|
||||||||||||||
Balance in allowance for loan and lease losses at end of period
|
$
|
4,400
|
$
|
3,638
|
||||||||||||
Net charge-offs/average loans
|
0.11
|
%
|
0.16
|
%
|
||||||||||||
Net charge-offs/average assets
|
0.03
|
%
|
0.03
|
%
|
||||||||||||
(1) Excludes activity from assets held for sale
|
||||||||||||||||
Loan portfolio:
|
December 31,
|
September 30,
|
June 30,
|
December 31,
|
||||||||||||
2015 | 2015 | 2015 | 2014 | |||||||||||||
(dollars in thousands)
|
||||||||||||||||
SBA non real estate
|
$
|
68,887
|
$
|
64,988
|
$
|
63,390
|
$
|
62,425
|
||||||||
SBA commercial mortgage
|
114,029
|
116,545
|
85,234
|
82,317
|
||||||||||||
SBA construction
|
6,977
|
5,191
|
16,977
|
20,392
|
||||||||||||
Total SBA loans
|
189,893
|
186,724
|
165,601
|
165,134
|
||||||||||||
Direct lease financing
|
231,514
|
223,929
|
222,169
|
194,464
|
||||||||||||
SBLOC
|
575,948
|
539,240
|
512,269
|
421,862
|
||||||||||||
Other specialty lending
|
48,315
|
12,119
|
32,118
|
48,625
|
||||||||||||
Other consumer loans
|
23,180
|
23,502
|
27,044
|
36,168
|
||||||||||||
1,068,850
|
985,514
|
959,201
|
866,253
|
|||||||||||||
Unamortized loan fees and costs
|
9,227
|
9,004
|
8,832
|
8,340
|
||||||||||||
Total loans, net of deferred loan fees and costs
|
$
|
1,078,077
|
$
|
994,518
|
$
|
968,033
|
$
|
874,593
|
||||||||
Small business lending portfolio:
|
December 31,
|
September 30,
|
June 30,
|
December 31,
|
||||||||||||
2015 | 2015 | 2015 | 2014 | |||||||||||||
(dollars in thousands)
|
||||||||||||||||
SBA loans, including deferred fees and costs
|
197,966
|
194,612
|
173,357
|
172,660
|
||||||||||||
SBA loans included in HFS
|
109,174
|
86,245
|
65,885
|
38,704
|
||||||||||||
Total SBA loans
|
$
|
307,140
|
$
|
280,857
|
$
|
239,242
|
$
|
211,364
|
Capital Ratios
|
Tier 1 capital
|
Tier 1 capital
|
Total capital
|
Common equity
|
|||
to average
|
to risk-weighted
|
to risk-weighted
|
tier 1 to risk
|
||||
assets ratio
|
assets ratio
|
assets ratio
|
weighted assets
|
||||
As of December 31, 2015
|
|||||||
The Bancorp
|
7.21%
|
14.74%
|
14.93%
|
14.74%
|
|||
The Bancorp Bank
|
6.94%
|
14.03%
|
14.22%
|
14.03%
|
|||
"Well capitalized" institution (under FDIC regulations)
|
5.00%
|
8.00%
|
10.00%
|
6.50%
|
|||
As of December 31, 2014
|
|||||||
The Bancorp
|
7.07%
|
11.54%
|
11.67%
|
n/a
|
|||
The Bancorp Bank
|
6.46%
|
10.46%
|
10.59%
|
n/a
|
|||
"Well capitalized" institution (under FDIC regulations)
|
5.00%
|
6.00%
|
10.00%
|
n/a
|
Three months ended
|
Year ended
|
|||||||||||||||
December 31,
|
December 31,
|
|||||||||||||||
2015
|
2014
|
2015
|
2014
|
|||||||||||||
Selected operating ratios:
|
||||||||||||||||
Return on average assets (annualized)
|
1.75
|
%
|
nm
|
0.31
|
%
|
nm
|
||||||||||
Return on average equity (annualized)
|
24.47
|
%
|
nm
|
4.50
|
%
|
nm
|
||||||||||
Net interest margin
|
2.52
|
%
|
2.62
|
%
|
2.37
|
%
|
2.60
|
%
|
||||||||
Book value per share
|
$
|
8.50
|
$
|
8.46
|
$
|
8.50
|
$
|
8.46
|
||||||||
December 31,
|
September 30,
|
June 30,
|
December 31,
|
|||||||||||||
2015
|
2015
|
2015
|
2014
|
|||||||||||||
Asset quality ratios:
|
||||||||||||||||
Nonperforming loans to total loans (1)
|
0.22
|
%
|
0.25
|
%
|
0.34
|
%
|
0.24
|
%
|
||||||||
Nonperforming assets to total assets (1)
|
0.05
|
%
|
0.05
|
%
|
0.07
|
%
|
0.04
|
%
|
||||||||
Allowance for loan and lease losses to total loans
|
0.41
|
%
|
0.42
|
%
|
0.45
|
%
|
0.42
|
%
|
||||||||
Nonaccrual loans
|
$
|
1,927
|
$
|
2,157
|
$
|
2,666
|
$
|
1,907
|
||||||||
Other real estate owned
|
-
|
-
|
-
|
-
|
||||||||||||
Total nonperforming assets
|
$
|
1,927
|
$
|
2,157
|
$
|
2,666
|
$
|
1,907
|
||||||||
Loans 90 days past due still accruing interest
|
$
|
403
|
$
|
294
|
$
|
620
|
$
|
149
|
||||||||
(1) Nonperforming loan and asset ratios include nonaccrual loans and loans 90 days past due still accruing interest.
|
||||||||||||||||
Three months ended
|
||||||||||||||||
December 31,
|
September 30,
|
June 30,
|
December 31,
|
|||||||||||||
2015 | 2015 | 2015 | 2014 | |||||||||||||
(in thousands)
|
||||||||||||||||
Gross dollar volume (GDV):
|
||||||||||||||||
Prepaid card GDV
|
$
|
9,839,782
|
$
|
9,465,687
|
$
|
10,006,333
|
$
|
9,119,682
|