8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 8-K

Current Report

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): February 7, 2008

The Bancorp, Inc.

(Exact name of registrant as specified in its charter)

Commission File Number: 000-51018

Delaware	23-3016517
(State or other jurisdiction of incorporation)	(IRS Employer Identification No.)

405 Silverside Road

Wilmington, DE 19809

(Address of principal executive offices, including zip code)

302-385-5000

(Registrant’s telephone number, including area code)

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 2.02. Results of Operations and Financial Condition

On February 7, 2008, The Bancorp, Inc. (the “Company”) issued a press release regarding its earnings for the three and twelve months ended December 31, 2007. A copy of this press release is furnished with this report as exhibit 99.1. The information in this Current Report, including the exhibit hereto, is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that Section. The information in this Current Report shall not be incorporated by reference into any registration statement or other document pursuant to the Securities Act of 1933, as amended.

Item 9.01. Financial Statements and Exhibits

(d) Exhibits

The exhibits furnished as part of this Current Report on Form 8-K are identified in the Exhibit Index immediately following the signature page of this report. Such Exhibit Index is incorporated herein by reference.

Signature(s)

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	The Bancorp, Inc.
Date: February 7, 2008	By:	/s/ Martin F. Egan
		Martin F. Egan
		Chief Financial Officer, Senior Vice President and Secretary

Exhibit Index

Exhibit No.	Description
EX-99.1	Press Release

EX-99.1

Exhibit 99.1

The Bancorp, Inc. Reports Fourth Quarter and Fiscal 2007 Earnings

Wilmington, DE – February 7, 2008 - The Bancorp, Inc. (“Bancorp”) (Nasdaq NM: TBBK)

Fourth Quarter and Fiscal 2007 Financial highlights:

• Closed the Stored Value Solutions transaction in the fourth quarter resulting in an increase in transaction account balances of $159.5 million

• Net income increased 15% over fiscal 2006 to $14.2 million

• Loans increased 20.8 % in fiscal 2007 to $1.287 billion

Bancorp, a bank holding company, reported net income available to common shareholders for the three months ended December 31, 2007 of $2.9 million, or $0.20 diluted earnings per share, based on 14,382,223 diluted shares, compared to net income available to common shareholders of $3.1 million, or $0.21 diluted earnings per share, based on 14,398,485 diluted shares, for the three months ended December 31, 2006. Bancorp reported net income available to common shareholders for fiscal 2007 of $14.2 million, or $0.98 diluted earnings per share, based on 14,396,069 diluted shares, compared to net income available to common shareholders of $12.3 million, or $0.86 diluted earnings per share, based on 14,304,164 diluted shares, for fiscal 2006.

The provision for loan and lease losses increased to $3.2 million for the fourth quarter of 2007 as compared to $850,000 for the fourth quarter of 2006. Net charge-offs for the fourth quarter of 2007 were $2.4 million of which approximately $2.2 million were for commercial loans and $200,000 was related to a construction loan. The provision for loan and lease losses for the fourth quarter of 2007 increased to $3.2 million from $750,000 for the third quarter of 2007. The allowance for loan and lease losses to total loans was 0.80% at December 31, 2007. Nonperforming assets, which include loans past due 90 days or more still accruing interest, were $9.8 million December 31, 2007 as compared to $668,000 at December 31, 2006.

At December 31, 2007, Bancorp’s total assets were $1.568 billion, an increase of $233 million or 17.5% from December 31, 2006. Loans grew to $1.287 billion, an increase of $221.9 million or 20.8% from those of December 31, 2006, and deposits increased to $1.278 billion, an increase of $209.1 million or 19.5%, from deposits at December 31, 2006. Total common shares outstanding were 14,560,470 at December 31, 2007 and 13,724,023 at December 31, 2006.

Conference Call Webcast

Interested parties can access the LIVE webcast of Bancorp’s Quarterly Earnings Conference Call at 11:00 AM EST on Thursday, February 7, 2008 by clicking on the webcast link on Bancorp’s homepage at www.thebancorp.com. For those who are not available to listen to the live broadcast, the replay of the webcast will be available following the live call on Bancorp’s investor relations website and telephonically until Thursday, February 14, 2008, by dialing 888-286-8010, access code 49214952.

About Bancorp

The Bancorp, Inc. is a financial holding company that operates The Bancorp Bank, an FDIC-insured commercial bank that delivers a full array of financial services and products both directly and through private-label affinity partner programs nationwide. The Bancorp Bank’s regional community bank division serves the needs of small and mid-size businesses and their principals in the Philadelphia-Wilmington region.

The Bancorp, Inc. Contact

Andres Viroslav

215-861-7990

andres.viroslav@thebancorp.com

The Bancorp, Inc.

Financial highlights

(unaudited)

	Three months ended December 31,						Twelve months ended December 31,
	2007			2006			2007			2006
	(dollars in thousands except per share data)						(dollars in thousands except per share data)
Condensed income statement
Net interest income	$	13,550		$	11,954		$	52,669		$	44,273
Provision for loan and lease losses		3,150			850			5,400			2,975
Non-interest income		3,272			1,216			7,614			5,038
Non-interest expense		8,766			6,448			31,205			25,505
Net income before income tax expense		4,906			5,872			23,678			20,831
Income tax expense		1,925			2,679			9,338			8,331
Net income		2,981			3,193			14,340			12,500
Less preferred stock dividends and accretion		(16	)		(18	)		(68	)		(75	)
Income allocated to Series A preferred shareholders		(23	)		(27	)		(115	)		(110	)
Net income available to common shareholders	$	2,942		$	3,148		$	14,157		$	12,315
Basic earnings per share	$	0.21		$	0.22		$	1.02		$	0.90
Diluted earnings per share	$	0.20		$	0.21		$	0.98		$	0.86
Weighted average shares—basic		14,068,772			13,706,406			13,859,066			13,673,730
Weighted average shares—diluted		14,382,223			14,398,485			14,396,069			14,304,164
	December 31, 2007			September 30, 2007			June 30, 2007			December 31, 2006
Condensed balance sheet
Assets
Federal funds sold	$	40,783		$	87,394		$	136,290		$	122,048
Investment securities		122,215			117,790			115,810			115,946
Loans		1,286,789			1,262,333			1,181,391			1,064,819
Allowance for loan and lease losses		(10,233	)		(9,527	)		(9,387	)		(8,400	)
Other assets		128,427			50,197			44,309			40,425
Total assets	$	1,567,981		$	1,508,187		$	1,468,413		$	1,334,838
Liabilities and shareholders’ equity
Transaction accounts	$	864,253		$	705,858		$	716,202			611,286
Time deposits		414,064			400,066			434,885			457,969
Total deposits		1,278,317			1,105,924			1,151,087			1,069,255
Other borrowings		93,846			233,845			152,823			108,145
Subordinated debt		13,000			—			—			—
Other liabilities		6,558			5,834			7,579			8,530
Shareholder’s equity		176,260			162,584			156,924			148,908
Total liabilities and shareholders’ equity	$	1,567,981		$	1,508,187		$	1,468,413		$	1,334,838

	Fourth quarter average 2007			Third quarter average 2007			Second quarter average 2007			Fourth quarter average 2006
Average condensed balance sheet
Assets
Federal funds sold	$	31,880		$	30,536		$	70,432		$	61,665
Investment securities		118,313			114,361			112,343			114,406
Loans		1,269,324			1,213,002			1,132,682			990,788
Allowance for loan and lease losses		(9,863	)		(9,748	)		(9,221	)		(7,915	)
Other assets		60,842			43,868			37,405			37,514
Total assets	$	1,470,496		$	1,392,019		$	1,343,641		$	1,196,458
Liabilities and shareholders’ equity
Transaction accounts	$	731,571		$	725,666		$	743,402		$	503,019
Time deposits		423,617			385,387			404,912			495,311
Total deposits		1,155,188			1,111,053			1,148,314			998,330
Total borrowings		144,937			116,144			30,512			42,505
Other liabilities		6,325			6,876			9,977			8,175
Shareholders’ equity		164,046			157,946			154,838			147,448
Total liabilities and shareholders’ equity	$	1,470,496		$	1,392,019		$	1,343,641		$	1,196,458
	December 31, 2007 Amount			September 30, 2007 Amount			June 30, 2007 Amount			December 31, 2006 Amount
Loan Portfolio
Commercial	$	325,166		$	282,339		$	256,362		$	199,397
Commercial mortgage		369,124			383,397			355,717			327,639
Construction		307,614			314,543			297,007			275,079
Total commercial loans		1,001,904			980,279			909,086			802,115
Direct financing leases, net		89,519			89,564			88,076			92,947
Residential mortgage		50,193			50,553			53,743			62,413
Consumer loans and others		144,882			142,221			130,598			108,374
		1,286,498			1,262,617			1,181,503			1,065,849
Unamortized costs (fees)		291			(284	)		(112	)		(1,030	)
Total loans, net of unamortized fees and costs	$	1,286,789		$	1,262,333		$	1,181,391		$	1,064,819
	Three months ended December 31,						Twelve Months ended December 31,
	2007			2006			2007			2006
Selected operating ratios
Return on average assets		0.81	%		1.07	%		1.04	%		1.19	%
Return on average equity		7.27	%		8.66	%		9.15	%		8.90	%
Net interest margin		3.80	%		4.09	%		3.90	%		4.32	%
Efficiency ratio		52.11	%		50.11	%		51.76	%		51.72	%
Book value per share	$	12.01		$	10.76		$	12.01		$	10.76
Tangible book value per share	$	7.78		$	10.48		$	7.78		$	10.48

	As of or for the period ended December 31,
	2007			2006
Asset quality ratios
Nonperforming loans to total loans		0.76	%		0.06	%
Nonperforming assets to total assets		0.63	%		0.05	%
Allowance for loan and lease losses to total loans		0.80	%		0.79	%
Nonaccrual loans	$	1,169		$	—
Loans 90 days past due still accruing interest	$	8,673		$	668