The Bancorp Completes $200 Million Senior Note Offering

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08/18/2025 – 04:46 PM

WILMINGTON, Del.–(BUSINESS WIRE)–The Bancorp, Inc. (TBBK), a финансовых services player known for its innovative solutions for non-bank financial institutions, has announced the successful completion of its underwritten offering of $200 million in aggregate principal amount of 7.375% Senior Notes due 2030. The move signals The Bancorp’s ambition to solidify its financial standing and pursue growth opportunities.

The Notes, sold at par, generated approximately $197.0 million in net proceeds after accounting for the underwriting discount but before factoring in estimated transaction expenses. This infusion of capital is strategically earmarked for a multi-pronged approach to capital allocation.

According to a company release, The Bancorp intends to utilize the proceeds to, first, redeem or repay the outstanding $100 million principal amount of its 4.75% Senior Notes due 2025. This includes covering any applicable redemption premium, a prudent financial maneuver to optimize its debt structure. Second, a portion of the capital will fuel the company’s share repurchase program, potentially boosting shareholder value. Finally, the remaining funds are designated for general corporate purposes, with a keen eye on supporting the expansion of its wholly-owned subsidiary, The Bancorp Bank, National Association.

The offering and sale of the Notes were executed under The Bancorp’s registration statement on Form S-1, previously filed with the SEC and declared effective earlier this month. The Notes, set to mature on September 1, 2030, will pay interest semi-annually on March 1 and September 1, starting March 1, 2026. The firm structured the agreement to allow for redemption, subject to conditions, demonstrating that this commitment offers flexibility ahead of the maturity date.

Piper Sandler & Co. and Raymond James & Associates, Inc. acted as book-running managers for the deal.

The company made clear that this announcement does not consitute a solicitation on any offer. The offer that was made was done strictly through the SEC.

About The Bancorp

The Bancorp, Inc. (NASDAQ: TBBK), through its subsidiary, The Bancorp Bank, N.A., provides non-bank financial companies with the people, processes, and technology to meet their unique banking needs. With over 20 years of experience, The Bancorp delivers partner-focused solutions paired with cutting-edge technology for companies that range from entrepreneurial startups to Fortune 500 companies. Through its Fintech Solutions, Institutional Banking, Commercial Lending, and Real Estate Bridge Lending businesses, The Bancorp is the third-largest bank by asset size in South Dakota, earning recognition as the #1 issuer of prepaid cards in the U.S., a nationwide provider of bridge financing for real estate capital improvement plans, an SBA National Preferred Lender, a leading provider of securities-backed lines of credit, and one of the few bank-owned commercial vehicle leasing groups in the country. With a company-wide commitment to excellence, The Bancorp is recognized as the top-ranked publicly traded bank with assets between $5B-$50B by Bank Director Magazine, a Readers’ Choice Top 50 Employer by Equal Opportunity Magazine and was selected to be included in the S&P Small Cap 600. For more about The Bancorp, visit https://thebancorp.com/.

Forward-Looking Statements

Statements in this press release regarding The Bancorp’s business that are not historical facts, are “forward-looking statements.” These statements may be identified by the use of forward-looking terminology, including, but not limited to the words “intend,” “may,” “believe,” “will,” “expect,” “look,” “anticipate,” “plan,” “estimate,” “continue,” or similar words. Forward-looking statements are based on management’s current expectations and assumptions about future events that involve inherent risks and uncertainties. While The Bancorp considers these expectations and assumptions to be reasonable, they are inherently subject to significant business, economic, competitive, regulatory, and other risks and uncertainties, most of which are difficult to predict and many of which are beyond the Company’s control. Factors that could cause results to differ from those expressed in the forward-looking statements include, but are not limited to, the risks and uncertainties referenced or described in The Bancorp’s filings with the Securities and Exchange Commission. The forward-looking statements speak only as of the date of this press release. The Bancorp does not undertake any duty to publicly revise or update forward-looking statements in this press release to reflect events or circumstances that arise after the date of this press release, except as may be required under applicable law.

The Bancorp Completes 0 Million Senior Note Offering