The Bancorp, Inc. (NASDAQ: TBBK) (“the company”) is the financial holding company for primary subsidiary, The Bancorp Bank, National Association (“the bank”) (est. 2000). Headquartered in Sioux Falls, SD, the bank is a nationally branded, branchless bank, with two primary operating segments – Fintech Solutions and Credit Solutions.
Under its Fintech Solutions Group, TBBK offers various banking-as-a-service (BaaS) products including program sponsorship (to include debit, credit and prepaid cards), payment services (namely ACH and other rapid funds transfer services) and more recently, sponsored lending. TBBK is viewed as a BaaS bank industry leader, particularly for prepaid cards as the largest issuer in the country. TBBK generally targets well established partners, such as PayPal, Chime, and Block, providing the company with meaningful long-term growth opportunities. TBBK’s sponsored lending division partners with fintech finance companies in providing…
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