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TBBK on Nasdaq

Bancorp, Inc.

American national commercial bank, incorporated in Delaware1

In its 2026 annual report the company says: “The Bancorp, Inc. is a Delaware financial holding company and our primary, wholly-owned subsidiary is The Bancorp Bank, National Association. We are a leading fintech bank, focused on partnering with fintech innovators and providing a dynamic portfolio of payment and lending solutions. Our focus is on continually evolving our product offerings to meet the needs and goals of different partners, and building a strong foundation of technology and services, while maintaining a focus on strong and effective regulatory compliance.”3 It is headquartered in Wilmington, Delaware.1 Its shares trade on Nasdaq under the symbol TBBK.1

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Last updated Oct 21, 2026.

Overview

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  • TickerTBBK on Nasdaq1
  • IndustryNational Commercial Banks1
  • HeadquartersWilmington, Delaware1
  • Incorporated inDE2
  • Business address409 Silverside Road, Wilmington, De 198092
  • Filer categoryLarge accelerated filer2

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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.3 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

161.7%Net margin4
20.8%Revenue growth, 20254
33.1%Return on equity4
$257.9MFree cash flow4

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Prepaid Card Fees brought in 73% of the revenue Bancorp, Inc. broke down this way in fiscal 2025.

  1. Prepaid Card Fees$103.5M473%up 6% from 2024
  2. Credit Card, Merchant Discount$21.0M415%up 44% from 2024
  3. Consumer Credit Fintech Fees$16.6M412%up 246% from 2024
Products and services by year
Products and services202320242025
Prepaid Card Fees$89.4M$97.4M$103.5M
Credit Card, Merchant Discount$9.8M$14.6M$21.0M
Consumer Credit Fintech Fees$4.8M$16.6M

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Income tax25¢$74.8M
  • Profit75¢$228.2M

Out of $141.1M in revenue.4

Where each dollar of operating cash went, fiscal 2025

  • Capital spending2¢$7.1M
  • Share buybacks98¢$378.3M

Out of $265.0M of cash from operations. Spending exceeded cash from operations; the rest came from savings or borrowing.4

Financial statements

Revenue564$141.1M in 2025+1405% since 2019
0$50.0M$100.0M$150.0M2019: $9.4M$9.4M20192020: $7.1M$7.1M2020−24%2021: $7.5M$7.5M2021+6%2022: $86.2M$86.2M2022+1045%2023: $99.2M$99.2M2023+15%2024: $116.8M$116.8M2024+18%2025: $141.1M$141.1M2025+21%
Net income57864$228.2M in 2025+343% since 2019
0$100.0M$200.0M$300.0M2019: $51.6M$51.6M20192020: $80.1M$80.1M2020+55%2021: $110.7M$110.7M2021+38%2022: $130.2M$130.2M2022+18%2023: $192.3M$192.3M2023+48%2024: $217.5M$217.5M2024+13%2025: $228.2M$228.2M2025+5%

Every line of the income statement as filed: the last 3 fiscal years, latest first.4

Period ending2025-12-312024-12-312023-12-31
Loans, including fees$448.0M$458.8M$436.6M
Taxable interest$76.0M$66.3M$39.1M
Tax-exempt interest$387.0K$187.0K$153.0K
Interest-earning deposits$26.9M$26.3M$33.6M
Total interest income$551.4M$551.6M$509.5M
Deposits$162.8M$164.4M$148.5M
Short-term borrowings$2.5M$2.5M$271.0K
Long-term borrowings$784.0K$2.4M$507.0K
Senior debt$8.8M$4.9M$5.0M
Subordinated debentures$1.0M$1.2M$1.1M
Total interest expense$175.9M$175.4M$155.5M
Net interest income$375.5M$376.2M$354.1M
Provision for credit losses on non-fintech loans$9.0M$9.3M$8.5M
Provision for credit losses on fintech loans$169.3M$30.7M
Provision reversal for unfunded commitments-$582.0K-$596.0K-$135.0K
Provision (reversal) for credit loss on security-$1.0M$10.0M
Provision for credit losses, total$177.7M$38.4M$18.3M
Net interest income after provision (reversal) for credit losses$197.8M$337.9M$335.7M
Total fintech fees$141.1M$116.8M$99.2M
Net realized and unrealized gains on commercial loans, at fair value$1.8M$2.7M$3.7M
Leasing related income$7.1M$3.9M$6.3M
Fintech loan credit enhancement$169.3M$30.7M
Other$8.9M$3.4M$2.8M
Total non-interest income$328.3M$157.5M$112.1M
Salaries and employee benefits$142.6M$131.6M$121.1M
Depreciation$4.7M$4.2M$3.1M
Rent and related occupancy cost$6.5M$6.7M$6.0M
Data processing expense$5.0M$5.7M$5.4M
Audit expense$2.5M$1.5M$1.6M
Legal expense$6.7M$3.1M$3.9M
Legal settlements$2.0M$284.0K
FDIC Insurance$4.5M$3.6M$3.0M
Software$20.5M$17.9M$17.3M
Insurance$4.8M$5.2M$5.1M
Telecom and IT network communications$1.2M$1.2M$1.3M
Consulting$1.7M$1.9M$1.9M
Other$20.6M$20.4M$21.3M
Total non-interest expense$223.1M$203.2M$191.0M
Income before income taxes$303.0M$292.2M$256.8M
Income tax expense$74.8M$74.6M$64.5M
Net income$228.2M$217.5M$192.3M
Earnings per share - basic$4.99$4.35$3.52
Earnings per share - diluted$4.92$4.29$3.49
Weighted average shares - basic45.8M shares50.1M shares54.5M shares
Weighted average shares - diluted46.4M shares50.7M shares55.1M shares

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Corporate structure

Bancorp, Inc. sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Bancorp, Inc.

  • Bancorp, Inc. Wilmington, Delaware

Built from major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Bancorp, Inc. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation$83.3M4 Dec 31, 2025$86.5M4 Dec 31, 2024−3.7%
Accumulated depreciation$53.5M4 Dec 31, 2025$58.9M4 Dec 31, 2024−9.3%
Property and equipment, net$29.8M4 Dec 31, 2025$27.6M4 Dec 31, 2024+8.2%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$112.6M4 Dec 31, 2025$570.1M4 Dec 31, 2024−80.2%
Debt securities available for sale$1.7B4 Dec 31, 2025$1.5B4 Dec 31, 2024+11.2%
Loans, net of allowance$7.1B4 Dec 31, 2025$6.1B4 Dec 31, 2024+16.2%
Deposits held (banks)$8.2B4 Dec 31, 2025$7.7B4 Dec 31, 2024+5.4%

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$263.0K4 Dec 31, 2025$263.0K4 Dec 31, 20240%
Intangible assets, net (excluding goodwill)$856.0K4 Dec 31, 2025$1.3M4 Dec 31, 2024−34.2%
Finite-lived intangibles, gross$4.5M6 Dec 31, 2024$4.5M6 Dec 31, 20230%
Accumulated amortization$3.6M4 Dec 31, 2025$3.2M4 Dec 31, 2024+12.3%
Finite-lived intangibles, net$458.0K4 Dec 31, 2025$856.0K6 Dec 31, 2024−46.5%

Properties, in its own words

Certain executive offices, the headquarters of the Bank and prepaid and debit card offices are located in Sioux Falls, South Dakota. Additional executive offices and an operations facility are located in Wilmington, Delaware.

We maintain business development and administrative offices for SBL in Morrisville, North Carolina, and Westmont, Illinois (suburban Chicago), primarily for SBA lending. Leasing offices are located in Crofton, Maryland, Smithfield, Utah, Orlando, Florida and Norristown, Pennsylvania. We maintain a loan operations office in New York, New York. We own our property in Orlando, Florida, which houses our leasing operations, while the remainder of our properties are leased.

The rest of Item 2

Locations and certain additional information regarding our offices and other material properties at December 31, 2025 are listed below.

Location · Expiration · Square Feet · Monthly Rent

Leased Space

Sioux Falls, South Dakota · 2038 · 51,886 · 128,814

Wilmington, Delaware · 2028 · 70,968 · 160,140

Norristown, Pennsylvania · 2028 · 7,180 · 10,500

Smithfield, Utah · 2028 · 6,451 · 7,184

New York, New York · 2035 · 5,209 · 28,867

Morrisville, North Carolina · 2027 · 3,590 · 6,776

Crofton, Maryland · 2027 · 3,364 · 4,822

Westmont, Illinois · 2031 · 3,003 · 3,941

Bank Owned Property

Orlando, Florida · 8,850

We believe that our properties are suitable and adequate for our operations.

Item 2 of the 10-K filed Feb 25, 2026.3

Leadership

Who has led Bancorp, Inc., and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Betsy Z. Cohen2006–2014
  2. John C. Chrystal2016
  3. Damian Kozlowski2016–now

Chair

  1. Daniel G. Cohen2020

President

  1. Frank M. Mastrangelo2006–2013
  2. Damian Kozlowski2018–2021

Chief financial officer

  1. Martin Egan2008
  2. Paul Frenkiel2009–2025
  3. Dominic C. Canuso2025–now

Chief operating officer

  1. Frank M. Mastrangelo2013
  2. Gail Ball2016
  3. Joseph Hugh McFadden2016–2019
  4. Gregor J. Garry2019–now
2010201520202025
Board members and other officers (48)

Timeline

  1. Oct 8, 20268-K Executive or director change68
  2. Sep 4, 20268-K Exit or restructuring costs; Executive or director change; Regulation FD disclosure69
  3. Aug 3, 20268-K Regulation FD disclosure70
  4. Jul 30, 20268-K Results of operations; Regulation FD disclosure71
  5. Jun 1, 20268-K Shareholder vote72
  6. Apr 23, 20268-K Results of operations; Regulation FD disclosure73
  7. Jan 29, 20268-K Results of operations; Regulation FD disclosure74
  8. Nov 3, 20258-K Financial statements and exhibits75
  9. Oct 30, 20258-K Results of operations; Regulation FD disclosure76
  10. Aug 18, 20258-K Entered a material agreement; New debt or obligation; Regulation FD disclosure77
  11. Aug 4, 20258-K Regulation FD disclosure78
  12. Jul 24, 20258-K Results of operations; Regulation FD disclosure79
  13. Jun 2, 2016New chief executive Damian Kozlowski becomes CEO13
  14. Feb 2, 2016New chief executive John C. Chrystal becomes CEO12
  15. Jan 18, 2006New chief executive Betsy Z. Cohen becomes CEO14

Calendar

Coming up

  1. Oct 29, 2026 · After the closeReports results for the quarter ending Sep/2026 A year earlier it reported $1.18 a share, on Oct 30, 2025.80

When it reported results

  1. Jul 30, 2026Reported quarterly or annual results71
  2. Apr 23, 2026Reported quarterly or annual results73
  3. Jan 29, 2026Reported quarterly or annual results74
  4. Oct 30, 2025Reported quarterly or annual results76
  5. Jul 24, 2025Reported quarterly or annual results79
  6. Apr 24, 2025Reported quarterly or annual results81
  7. Jan 30, 2025Reported quarterly or annual results82
  8. Oct 24, 2024Reported quarterly or annual results83

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

416 filings to the SEC since October 2021: 6 annual reports, 15 quarterly reports, 55 major events, 228 insider forms, 22 large holders, 90 other. The latest 20:

  1. Oct 8, 20268-K/A THE BANCORP, INC. FORM 8-K/A EDGAR
  2. Sep 4, 20268-K THE BANCORP, INC. FORM 8-K EDGAR
  3. Aug 14, 2026SCHEDULE 13G/A EDGAR
  4. Aug 6, 20264 EDGAR
  5. Aug 6, 2026144 EDGAR
  6. Aug 6, 202610-Q EDGAR
  7. Aug 3, 20268-K THE BANCORP, INC. FORM 8-K EDGAR
  8. Jul 31, 2026SCHEDULE 13G EDGAR
  9. Jul 30, 20268-K EDGAR
  10. Jun 29, 202611-K THE BANCORP, INC. FORM 11-K EDGAR
  11. Jun 12, 20264 EDGAR
  12. Jun 1, 20268-K THE BANCORP, INC. FORM 8-K EDGAR
  13. May 28, 20264 EDGAR
  14. May 28, 20264 EDGAR
  15. May 28, 20264 EDGAR
  16. May 28, 20264 EDGAR
  17. May 28, 20264 EDGAR
  18. May 28, 20264 EDGAR
  19. May 28, 20264 EDGAR
  20. May 28, 20264 EDGAR

The 416 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

95 open-market trades by officers, directors and large owners since October 2021: 57 buys and 38 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Aug 6, 2026Egan MartinChief Accounting OfficerSale3,057$72.03$220.2KForm 4
May 4, 2026Cohn MatthewDirectorBuy250$58.77$14.7KForm 4
May 1, 2026Cohn MatthewDirectorBuy2,250$59.60$134.1KForm 4
Apr 29, 2026Caesar Erika REVP and General CounselSale4,470$60.28$269.5KForm 4
Apr 28, 2026Wainwright MariaEVP & Chief Marketing OfficerSale8,400$60.24$506.0KForm 4
Mar 13, 2026Harris RyanEVP Head of Fintech SolutionsSale4,500$53.18$239.3KForm 4
Feb 27, 2026Canuso Dominic CEVP & Chief Financial OfficerBuy2,000$55.26$110.5KForm 4
Feb 12, 2026Cohn MatthewDirectorBuy230$56.78$13.1KForm 4
Feb 11, 2026Cohn MatthewDirectorBuy170$56.99$9.7KForm 4
Feb 10, 2026Cohn MatthewDirectorBuy680$62.14$42.3KForm 4
Feb 10, 2026Canuso Dominic CEVP & Chief Financial OfficerBuy2,000$60.54$121.1KForm 4
Feb 9, 2026Canuso Dominic CEVP & Chief Financial OfficerBuy800$62.00$49.6KForm 4
Feb 6, 2026Canuso Dominic CEVP & Chief Financial OfficerBuy200$60.50$12.1KForm 4
Feb 4, 2026TRYNISKI MARK EDirectorBuy5,000$60.23$301.1KForm 4
Nov 14, 2025Canuso Dominic CEVP & Chief Financial OfficerBuy1,800$61.24$110.2KForm 4
Nov 12, 2025Canuso Dominic CEVP & Chief Financial OfficerBuy1,700$64.64$109.9KForm 4
Nov 7, 2025Cohn MatthewDirectorBuy745$61.27$45.6KForm 4
Nov 6, 2025Cohn MatthewDirectorBuy2,900$62.35$180.8KForm 4
Sep 10, 2025Harris RyanEVP Head of Fintech SolutionsSale9,841$76.37$751.6KForm 4
Sep 8, 2025Garry Gregor JEVP and COOSale12,532$75.14$941.7KForm 4

All 95 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

YearExecutiveAgeSalaryTotal pay
2025Damian M. KozlowskiChief Executive Officer61$1.0M$4.5M94
2025Ryan HarrisEVP, Head of Fintech Solutions$500.0K$2.5M94
2025Greg GarryEVP, Chief Operating Officer$500.0K$1.8M94
2025Olek DeRoweEVP, Head of Commercial Real Estate$400.0K$1.6M94
2025Jeff NagerEVP, Head of Commercial Lending$500.0K$1.6M94
2025Mark ConnollyEVP, Head of Credit Solutions$500.0K$1.5M94
2025Paul Frenkiel Former EVP, Chief Financial Officer$134.6K$846.1K94
2025Martin Egan MD, Chief Accounting Officer$369.2K$584.3K94
2025Dominic C. Canuso EVP, Chief Financial Officer$67.3K$318.6K94
2024Damian M. KozlowskiChief Executive Officer61$1.0M$7.5M94
2024Ryan HarrisEVP, Head of Fintech Solutions$500.0K$1.6M94
2024Jeff NagerEVP, Head of Commercial Lending$500.0K$1.3M94
2024Olek DeRoweEVP, Head of Commercial Real Estate$400.0K$1.3M94
2024Greg GarryEVP, Chief Operating Officer$500.0K$1.3M94
2024Mark ConnollyEVP, Head of Credit Solutions$500.0K$1.3M94
2024Paul Frenkiel Former EVP, Chief Financial Officer$500.0K$984.9K94
2023Damian M. KozlowskiChief Executive Officer61$750.0K$2.8M94
2023Ryan HarrisEVP, Head of Fintech Solutions$400.0K$2.4M94
2023Olek DeRoweEVP, Head of Commercial Real Estate$400.0K$2.2M94
2023Jeff NagerEVP, Head of Commercial Lending$400.0K$1.9M94
2023Greg GarryEVP, Chief Operating Officer$400.0K$1.9M94
2023Mark ConnollyEVP, Head of Credit Solutions$400.0K$1.9M94
2023Paul Frenkiel Former EVP, Chief Financial Officer$400.0K$1.3M94

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
BlackRock, Inc.6,057,719$379.5M0.0%−54,312
American Century Companies Inc3,589,894$224.9M0.1%+940,857
State Street Corp2,700,225$169.1M0.0%−82,782
Nantahala Capital Management, LLC2,479,774$155.3M4.7%+1,099,318
Vanguard Capital Management LLC1,771,422$111.0M0.0%−10,699
Geode Capital Management, LLC1,389,513$87.1M0.0%+58,708
Dimensional Fund Advisors LP1,342,622$84.1M0.0%+9,055
Brown Advisory Inc1,139,584$71.4M0.1%+222,797
Jupiter Topco LLC1,128,509$70.7M0.0%New
Invesco Ltd.1,119,648$70.1M0.0%−19,034
Fmr LLC1,100,832$69.0M0.0%−797,022
Owls Nest Partners IA, LLC967,771$60.6M19.7%−126,684
Deutsche Bank Ag\841,377$52.7M0.0%+1,543
Vanguard Portfolio Management LLC818,445$51.3M0.0%+27,247
Ameriprise Financial Inc784,079$49.1M0.0%−33,145
Arrowstreet Capital, Limited Partnership679,413$42.6M0.0%+399,072
Jupiter Asset Management Ltd646,585$40.5M0.2%−5,087
Franklin Resources Inc634,890$39.8M0.0%−25,905
Morgan Stanley504,082$31.6M0.0%+921
Charles Schwab Investment Management Inc491,647$30.8M0.0%+3,386
Emerald Advisers, LLC478,025$29.9M0.7%−13,315
Northern Trust Corp418,649$26.2M0.0%−16,449
Goldman Sachs Group Inc417,327$26.1M0.0%−109,524
Kennedy Capital Management LLC413,775$25.9M0.5%+117,214
Bank Of America Corp /de/398,799$25.0M0.0%−27,814

13F reports cover disclosed long positions in U.S. stocks only.

SEC filer profile

How Bancorp, Inc. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARBancorp, Inc.1
  • CIK0001295401
  • Employer ID (EIN)23-30165173
  • Filer statusLarge accelerated filer not an emerging growth company; not a smaller reporting company; not a shell company3
  • Incorporated inDelaware3
  • Fiscal year endsDecember 311
  • Industry code (SIC)6021 National Commercial Banks1
  • SEC reviewing officeOffice of Finance, Division of Corporation Finance1
  • Business address409 Silverside Road, Wilmington, DE 198091
  • Phone302-385-50001
  • Shares outstanding40,786,809 as of Jul 31, 202610
  • Public float$2.5B as of Jun 30, 20253
  • AuditorCrowe LLP, Fort Lauderdale, Florida PCAOB ID 173; it also attests to the company’s internal control over financial reporting3
  • On EDGAR sinceJul 15, 20041
  • Filings1,439 in all: 4 (742), 8-K (232), 10-Q (65), SC 13G/A (59), 144 (50), 3 (50), 4/A (25), DEF 14A (24)1
    All 49 form types

    10-K (22), SC 13G (19), UPLOAD (15), 8-K/A (13), CORRESP (13), S-8 (10), 424B5 (9), DEFA14A (8), EFFECT (8), S-3 (7), 11-K (6), S-3/A (5), SCHEDULE 13G/A (5), ARS (4), FWP (4), PRE 14A (4), SCHEDULE 13G (4), 10-Q/A (3), 424B3 (3), S-4/A (3), 10-K/A (2), DEFR14A (2), NT 10-K (2), NT 10-Q (2), S-1 (2), SC 13D/A (2), 144/A (1), 3/A (1), 305B2 (1), 424B1 (1), 425 (1), 5 (1), 8-A12G (1), D (1), DRS (1), RW (1), S-1/A (1), S-3ASR (1), S-4 (1), S-8 POS (1), SC 13D (1)

  • Latest filingsAnnual report (10-K) Feb 25, 2026
    Quarterly report (10-Q) Aug 6, 2026
    Proxy statement (DEF 14A) Apr 13, 2026
    Latest 8-K (8-K) Sep 4, 2026

Securities registered for trading

ClassSymbolExchange
Common Stock, par value $1.00 per shareTBBKNasdaq

From the cover page of the 10-K filed Feb 25, 2026 (Section 12(b) of the Exchange Act).3

Risk factors and legal proceedings

The risks Bancorp, Inc. names in Item 1A of its 10-K filed Feb 25, 2026: 39 risks under these headings, as written.3

  • Business and Strategy
  • We cannot assure you that we will be able to accomplish our strategic goals as necessary to meet our financial targets.
  • We could encounter challenges in managing strong growth across various aspects of our business simultaneously and may require diverting resources or otherwise incurring additional costs, and potentially limit our ability to expand our operations successfully.
  • New lines of business, and new products and services may result in exposure to new risks and the value and earnings related to existing lines of business are subject to market conditions.
  • We are dependent upon digital delivery channels for our banking and fintech services, and are subject to the risks associated with those channels.
  • Potential acquisitions may disrupt our business and dilute stockholder value.
  • The development and use of artificial intelligence (“AI”) presents risks and challenges that may adversely impact our business.
  • Ineffective liquidity management could adversely affect our financial condition and results of operation.
  • Regulatory and Compliance
  • We are subject to and may be affected by extensive government regulation or material changes in the regulatory landscape.
  • Failure to comply with personal data protection and privacy laws can adversely affect our business.
  • Our enterprise-wide risk management framework, processes and strategies must be effective.
The other 29 risks
  • We will be subject to heightened regulatory requirements and experience adverse business consequences if our total assets exceed $10 billion as of December 31 of any calendar year.
  • We operate in highly competitive markets, and our partnership marketing strategy has been adopted by other institutions with which we compete.
  • Periods of weak economic, slow growth, and/or inflationary conditions in the U.S. economy have had, and could have significant adverse effects on our business performance, growth prospects, and operating results.
  • A prolonged U.S. federal government shutdown or default by the United States on government obligations could harm our results of operations.
  • Changes in interest rates could reduce our income and asset valuations, and adversely affect our business, results of operations and financial condition.
  • Fintech Solutions Business
  • There is a significant concentration of deposits and non-interest income that are sourced through partner relationships in our Fintech Solutions business.
  • Concentration based on Deposit Balances
  • Concentration based on Income
  • Regulatory and legal requirements applicable to the prepaid and debit card industry are unique and can be subject to frequent change.
  • Changes in rules or standards set by the payment networks, or changes in debit network fees or products or interchange rates, could adversely affect our business, financial position and results of operations.
  • The potential for fraud in the card payment industry is significant and could adversely affect our business and results of operations.
  • If our prepaid and debit card and other deposit accounts generated by third-parties were no longer classified as non-brokered, our FDIC insurance expense might increase.
  • We face fund transfer and payments-related risks.
  • Agreements between the Bank and its partners related to marketing and servicing fintech loans may subject the Bank to unique compliance, oversight, and other risks.
  • Unclaimed funds from deposit accounts or represented by unused value on prepaid cards present compliance and other risks.
  • Credit Solutions Business
  • We are subject to lending risks.
  • The quantitative models we use to manage certain accounting and risk management functions may not be effective, which may cause adverse effects on our results of operations and financial condition.
  • Agreements between the Bank and its partners to market and service Bank-originated consumer loans may subject the Bank to credit, fraud and other risks, as well as claims from regulatory agencies and our partners that, if successful, could negatively impact the Bank's current and future business.
  • We are exposed to credit risks specific to the population of real estate bridge loans, including risks related to the real estate collateral value and risks related to the execution of the properties’ business plan.
  • The success of our SBA lending program is dependent upon the continued availability of SBA loan programs, our status as a Preferred Lender under the SBA loan programs, our ability to comply with applicable SBA lending requirements and our ability to successfully manage related risks.
  • Interruptions or failures in our technology solutions, or those of our third-party service providers, could impact or interrupt our ability to service our customers, clients and partners.
  • Cybersecurity risks, including the loss of data or disruption in our operations, could result in a loss of customers, cause disclosure of confidential information, adversely affect our operations, cause reputational damage, and create significant legal and financial exposure.
  • We are subject to risks associated with the third-parties to whom we outsource many essential services, including risks related to our agreements and oversight of their activities.
  • The loss or transition of key members of our senior management team or key staff in the Bank's divisions, or our inability to attract and retain qualified personnel, could adversely affect our business.
  • Taxes and Accounting
  • Our financial statements are based in part on assumptions and estimates made by our management. Our earnings may decrease if amounts realized vary significantly from our estimates, or from updates to assumptions.
  • Changes in accounting policies or accounting standards, or changes in how accounting standards are interpreted or applied, could materially affect how we report our financial results and condition.
  • If we fail to maintain effective internal control over financial reporting, our ability to accurately and timely report our financial results may be impacted, which could result in a loss of investor confidence and adversely impact our stock price and our business.
  • Ownership of Our Common Stock
  • The Bank’s ability to pay dividends is subject to regulatory limitations which, to the extent we require such dividends in the future, may affect our ability to pay our obligations and return capital to shareholders.
  • We have historically returned capital to shareholders through share repurchase programs. There can be no assurances that this will continue into the future or that this is the optimal use of our capital.
  • Anti-takeover provisions of our certificate of incorporation, bylaws and Delaware law may make it more difficult for holders of our common stock to receive a change in control premium.
  • Our Amended and Restated Bylaws provide that certain courts in the State of Delaware or the federal district courts of the United States will be the sole and exclusive forum for substantially all disputes between us and our stockholders, which could limit our stockholders’ ability to obtain a favorable judicial forum for disputes with us or our directors, officers, or employees.

Legal proceedings

For a discussion of our material pending legal proceedings, see “Note 14—Commitments and Contingencies” to the audited consolidated financial statements in this Annual Report on Form 10-K, which is incorporated herein by reference.

The opening of Item 3, Legal Proceedings.3

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