The Bancorp Inc 2025年季度报告

FORM10-Q (Mark One) xQUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THESECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended:March 31, 2025 TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THESECURITIES EXCHANGE ACT OF 1934 For the transition period from: _____ to _____ Commission file number:000-51018 THE BANCORP, INC.(Exact name of registrant as specified in its charter) 23-3016517 Delaware (IRS Employer Identification No.) (State or other jurisdiction of incorporation or organization) 409 Silverside Road,Wilmington,DE19809 (302)385-5000 (Registrant's telephone number, including area code) (Address of principal executive offices and zip code) Securities registered pursuant to Section 12(b) of the Act: Title of Each ClassCommon Stock, par value $1.00 per share Trading Symbol(s)Name of each Exchange on Which RegisteredTBBKNasdaqGlobal Select Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the SecuritiesExchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports),and (2) has been subject to such filing requirements for the past 90 days.Yesx Noo Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submittedpursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that theregistrant was required to submit such files).Yesx Noo Indicate by check mark whether the Registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smallerreporting company or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smallerreporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act. Large accelerated filerxSmaller reporting companyo Non-accelerated filero Accelerated fileroEmerging growth companyo If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period forcomplying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.oIndicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). YesoNox As of April 28, 2025, there were46,709,747outstanding shares of common stock, $1.00 par value. THE BANCORP, INC. Form 10-QIndex Part I Financial InformationItem 1.Financial Statements:3Consolidated Balance Sheets – March 31, 2025 (unaudited) and December 31, 20243Unaudited Consolidated Statements of Operations – Three months ended March 31, 2025 and 20244Unaudited Consolidated Statements of Comprehensive Income – Three months ended March 31, 2025 and 20245Unaudited Consolidated Statements of Changes in Shareholders’ Equity – Three months ended March 31, 2025 and 20246Unaudited Consolidated Statements of Cash Flows – Three months ended March 31, 2025 and 20248Notes to Unaudited Consolidated Financial Statements9Item 2.Management’s Discussion and Analysis of Financial Condition and Results of Operations40Item 3.Quantitative and Qualitative Disclosures About Market Risk67Item 4.Controls and Procedures67 Part II Other Information Item 1.Legal Proceedings68Item 1A.Risk Factors68Item 2.Unregistered Sales of Equity Securities and Use of Proceeds68Item 5.Other Information68Item 6.Exhibits69 Signatures THE BANCORP, INC. AND SUBSIDIARIESCONSOLIDATED BALANCE SHEETS The accompanying notes are an integral part of these consolidated statements. THE BANCORP, INC. AND SUBSIDIARIESUNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS THE BANCORP, INC. AND SUBSIDIARIESUNAUDITED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME THE BANCORP, INC. AND SUBSIDIARIESUNAUDITED CONSOLIDATED STATEMENT OFCHANGES IN SHAREHOLDERS' EQUITY For the three months ended March 31, 2025(Dollars in thousands, except share data) The accompanying notes are an integral part of these consolidated statements. THE BANCORP, INC. AND SUBSIDIARIESUNAUDITED CONSOLIDATED STATEMENT OF CHANGES IN SHAREHOLDERS' EQUITY The accompanying notes are an integral part of these consolidated statements. THE BANCORP, INC. AND SUBSIDIARIESUNAUDITED CONSOLIDATEDSTATEMENTS OF CASH FLOWS THE BANCORP, INC. AND SUBSIDIARIESNOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS Note 1. Organization and Nature of Operations The Bancorp, Inc. (the “Company”) is a Delaware corporation and a registered financial holding company. Its primary, wholly ownedsubsidiary is The Bancorp Bank, National Association (the “Bank”). The Bank is a nationally chartered commercial bank located inSioux Falls, South Dakota and is a Federal Deposit Insurance Corporation (“FDIC”) insured institution. As a nationally charteredbank, its primary regulator is the Office of the Comptroller of the Currency (“OCC”). The Bank hastwoprimary lines of