Bancorp, Inc. TBBK
The Bancorp, Inc. (the "Company," "we," "us," "our" or "the holding company") is a Delaware financial holding company and our primary, wholly-owned subsidiary is The Bancorp Bank, National Association (the "Bank"). The Bank is a federally chartered commercial bank located in Sioux Falls, South Dakota and is a Federal Deposit Insurance Corporation ("FDIC") insured institution. The vast majority of our revenue and income is generated through the Bank. As described more fully below, our business strategy is focused on Fintech Solutions, including program sponsorship, payment services, and sponsored lending. We expect our fintech business to generate non-interest income and attract stable, lower cost deposits which we then seek to deploy into lower risk assets in specialized markets through the specialty lending activities of our Credit Solutions business.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $141.1M | $116.8M | $99.2M | $86.2M | $222.1M | $210.8M | $9.4M | $148.0M | $122.0M | $102.2M |
| Cost of revenue | — | — | — | — | — | — | $81.0K | $117.0K | $170.0K | $1.0M |
| Gross profit | — | — | — | — | — | — | $9.3M | $147.8M | $121.8M | $101.2M |
| Interest expense | $375.5M | $376.2M | $354.1M | $248.8M | $11.2M | $15.9M | $38.3M | $27.1M | $15.3M | $12.3M |
| Pre-tax income | $303.0M | $292.2M | $256.8M | $177.9M | $144.2M | $108.3M | $72.5M | $119.8M | $40.4M | -$69.5M |
| Income tax | $74.8M | $74.6M | $64.5M | $47.7M | $33.7M | $27.7M | $21.2M | $32.2M | $23.1M | $12.7M |
| Net income | $228.2M | $217.5M | $192.3M | $130.2M | $110.7M | $80.1M | $51.6M | $88.7M | $21.7M | -$96.5M |
| EPS, basic | 4.99 | 4.35 | 3.52 | 2.30 | 1.93 | 1.39 | 0.91 | 1.57 | 0.39 | -2.17 |
| EPS, diluted | 4.92 | 4.29 | 3.49 | 2.27 | 1.88 | 1.37 | 0.90 | 1.55 | 0.39 | -2.17 |
| Shares, diluted (wtd. avg.) | $46.4M | $50.7M | $55.1M | $57.3M | $58.8M | $58.4M | $57.3M | $57.1M | $56.2M | $44.6M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $112.6M | $570.1M | $1.04B | $888.2M | $601.8M | $345.5M | $944.5M | $554.3M | $908.9M | $999.1M |
| Property, plant and equipment | $29.8M | $27.6M | $27.5M | $18.4M | $16.2M | $17.6M | $17.5M | $18.9M | $20.1M | $24.1M |
| Goodwill | $263.0K | $263.0K | — | — | — | — | — | — | — | — |
| Other intangibles | $856.0K | $1.3M | $1.7M | $2.0M | $2.4M | $2.8M | $2.3M | $3.8M | $5.4M | $6.9M |
| Total assets | $9.35B | $8.73B | $7.71B | $7.90B | $6.84B | $6.28B | $5.66B | $4.44B | $4.71B | $4.86B |
| Short-term debt | $199.0M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | — |
| Long-term debt | — | $14.1M | $38.6M | $10.0M | $39.5M | $40.3M | $41.0M | $41.7M | $42.3M | $263.1M |
| Total liabilities | $8.66B | $7.94B | $6.90B | $7.21B | $6.19B | $5.70B | $5.17B | $4.03B | $4.38B | $4.56B |
| Retained earnings | $1.01B | $779.2M | $561.6M | $369.3M | $239.1M | $128.5M | $50.7M | -$817.0K | -$89.5M | -$111.9M |
| Total equity | $689.8M | $789.8M | $807.3M | $694.0M | $652.5M | $581.2M | $484.5M | $406.8M | $324.1M | $299.0M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $265.0M | $209.9M | $186.9M | $119.6M | $83.9M | $120.7M | $66.9M | -$174.0M | -$28.1M | -$162.0M |
| Depreciation and amortisation | $4.6M | $4.2M | $3.1M | $2.9M | $3.3M | $3.8M | $5.2M | $5.5M | $6.0M | $6.4M |
| Stock-based compensation | $19.6M | $15.0M | $11.4M | $7.6M | $8.6M | $6.4M | $5.7M | $3.5M | $3.2M | $2.8M |
| Capital expenditure | $7.1M | $5.0M | $12.7M | $5.1M | $1.5M | $3.7M | $2.0M | $2.4M | $515.0K | $8.0M |
| Investing cash flow | -$1.06B | -$1.49B | $415.4M | -$826.7M | -$305.9M | -$1.23B | -$793.3M | $84.5M | -$84.3M | -$154.9M |
| Financing cash flow | $341.7M | $812.7M | -$452.4M | $993.5M | $478.3M | $509.0M | $1.12B | -$265.1M | $22.3M | $160.8M |
| Buybacks | $378.3M | $252.4M | $100.0M | $60.0M | $40.0M | — | — | — | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001104659-26-042670.
Others in SIC 6021
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| JPM | JPMORGAN CHASE & CO | $953.33B | 17.9x | 2.8% |
| BAC | BANK OF AMERICA CORP /DE/ | $438.31B | 16.5x | 6.8% |
| WFC | WELLS FARGO & COMPANY/MN | $272.07B | 14.4x | -3.8% |
| C | CITIGROUP INC | $240.92B | 19.7x | 5.6% |
| COF | CAPITAL ONE FINANCIAL CORP | $136.66B | 54.5x | 36.3% |
| USB | US BANCORP \DE\ | $98.73B | 13.7x | 4.4% |
| PNC | PNC FINANCIAL SERVICES GROUP, INC. | $97.98B | 14.8x | 7.2% |
| TFC | TRUIST FINANCIAL CORP | $63.10B | 13.5x | -2.1% |