TBBK Bancorp Inc

The Bancorp, Inc. (NASDAQ:TBBK), a financial holding company, provides June 30, 2015 highlights for market update call scheduled for September 30, 2015, 8:30 a.m. Eastern time. Please see The Bancorp’s 10-Q for the quarter ended June 30, 2015 for detailed financial statements and other financial information.

Highlights as of June 30, 2015*:

Progress in transition to lower risk loan portfolio

• Total loans in continuing operations increased 31% to $1.25 billion
• Securities-Backed Lines of Credit increased 39% to $512.3 million
• Leasing increased 19% to $221.1 million
• Loans in the discontinued operation were reduced to $629.3 million

Progress in balance sheet management

• $900 million in non-strategic deposits to be exited in Q4 2015

Progress in meeting BSA regulatory expectations

• Significant progress of BSA remediation

Progress in earnings transition to lower risk model

• Loan growth in continuing loans is impacting earnings – $16.7 million in pre-tax earnings adjusted for fees related to BSA and restatement

Frank M. Mastrangelo, The Bancorp’s Chief Executive Officer said, “We continue to make significant progress away from what our experience and cyclical downturns for the industry have indicated to be a more risky line of business, namely regional commercial real estate lending. Our discontinuance of that line of business is being offset by significant growth in our SBLOC and other loan categories, which we believe have a better risk adjusted return. The lower risk profile of SBLOC loans is confirmed by their lower capital requirements and de minimus losses, and is our largest lending line of business. We have made significant progress in addressing regulatory expectations and look forward to fully satisfying all such expectations as soon as practicable. Historically our performance ratios, including capital, have been impacted by excess deposits maintained at the Federal Reserve Bank. In the fourth quarter we anticipate that we will exit approximately $900 million of non-strategic deposit relationships. This balance sheet management will not decrease profitability, but will more accurately reflect average assets and capital ratios. As of June 30, 2015, we remain well capitalized with a book value of $8.36 per share.”

Non-recurring Expense during the Six-Months Ended June 30, 2015 ($ in thousands):

Continuing Operations:   BSA consultant and lookback fees $ 14,956 Regulatory related legal fees 1,276  

Discontinued operations:

Restatement related audit fees 1,525 Other real estate owned expense 1,124 Pre-tax loss-continuing operations (9,417 ) Pre-tax income-continuing operations   7,196   Pre-tax income after analyses of non-recurring fees $ 16,660  

Continuing Operations - Loan Portfolio

   

June 30,

   

June 30,

2015

2014

  SBA non real estate $ 63,390 $ 60,546

SBA commercialmortgage

85,234 90,316 SBA construction   16,977   9,936 Total SBA loans 165,601 160,798 Direct lease financing 222,169 185,878 SBLOC 512,269 367,598 Other specialty lending 32,118 38,416 Other consumer loans   27,044   40,896 959,201 793,586

Unamortized loan feesand costs

  8,832   8,169

Loans, net of deferredloan costs

$ 968,033 $ 801,755

Continuing operationsloans held for sale

  284,051   154,474 Total $ 1,252,084 $ 956,229  

June 30,

June 30,

2015

2014

Discontinued Loans

$

629,314

$

1,108,972

 

Capital Ratios

   

Tier 1capitaltoaverageassetsratio

 

Tier 1capital torisk-weightedassetsratio

 

Totalcapital torisk-weightedassetsratio

 

Commonequity tier1 to riskweightedassets

As of June 30, 2015

      The Bancorp 6.46 % 13.68 % 13.88 % 13.68 % The Bancorp Bank 6.08 % 12.89 % 13.08 % 12.89 %

"Well capitalized" institution (under FDICregulations-Basel III)

5.00 % 8.00 % 10.00 % 6.50 %  

As of December 31, 2014

The Bancorp 7.07 % 11.54 % 11.67 % n/a The Bancorp Bank 6.46 % 10.46 % 10.59 % n/a "Well capitalized" institution (under FDIC regulations) 5.00 % 6.00 % 10.00 % n/a  

Market Update Conference Call Webcast

Interested parties may access the LIVE webcast of The Bancorp's Market Update Conference Call at 8:30 AM ET Wednesday, September 30, 2015 by clicking on the webcast link on The Bancorp's homepage at www.thebancorp.com. Or, you may dial 877.703.6102, access code 78556593. You may listen to the replay of the webcast following the live call on The Bancorp's investor relations website or telephonically until Wednesday, October 7, 2015 by dialing 888.286.8010, access code 90377196.

About The Bancorp

The Bancorp (NASDAQ: TBBK), with operations in the United States and Europe, is a family of financial service companies dedicated to setting a new standard in financial services and payments innovation. The Bancorp specializes in providing private-label banking and technology solutions for non-bank companies ranging from entrepreneurial start-ups to those on the Fortune 500. The Bancorp Bank, one of The Bancorp’s financial institutions, has been recognized as a National Preferred SBA Lender, a top custodian of Health Savings Accounts, a top ACH originator, a top merchant acquirer and is the leading issuer of prepaid cards. thebancorp.com

Forward-Looking Statements

Statements in this earnings release regarding The Bancorp, Inc.’s business, which are not historical facts, are "forward-looking statements" that involve risks and uncertainties. These statements may be identified by the use of forward-looking terminology, including but not limited to the words “may,” “believe,” “will,” “expect,” “look,” “anticipate,” “estimate,” “continue,” or similar words. For further discussion of the risks and uncertainties to which these forward-looking statements may be subject, see The Bancorp, Inc.’s filings with the SEC, including the “Risk Factors” sections of The Bancorp Inc.’s filings. These risks and uncertainties could cause actual results to differ materially from those projected in the forward-looking statements. The forward-looking statements speak only as of the date of this presentation. The Bancorp, Inc. does not undertake to publicly revise or update forward-looking statements in this presentation to reflect events or circumstances that arise after the date of this presentation, except as may be required under applicable law.

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The Bancorp, Inc.Andres Viroslav, 215-861-7990aviroslav@thebancorp.com