Business
The Bancorp, Inc. Receives Expected Nasdaq Notice Regarding Delayed Annual Report
No Immediate Effect on the Company’s Securities Listed on Nasdaq WILMINGTON, Del.--(BUSINESS WIRE)-- The Bancorp, Inc. (“The Bancorp” or the “Company” or
About this update from The Bancorp, Inc.
[{"type":"text","content":"\nNo Immediate Effect on the Company’s Securities Listed on Nasdaq\n\n WILMINGTON, Del.--(BUSINESS WIRE)--\nThe Bancorp, Inc. (“The Bancorp” or the “Company” or “we” or “our”) (NASDAQ: TBBK), a financial holding company, today announced that on March 27, 2025, it received an expected notice (the “Notice”) from the Listing Qualifications Department of the Nasdaq Global Select Market (“Nasdaq”) indicating that, as a result of the Company’s delay in filing its Annual Report on Form 10-K for the period ended December 31, 2024 (the “Annual Report”) with the Securities and Exchange Commission (the “SEC”) the Company is not in compliance with the requirements for continued listing under Nasdaq Listing Rule 5250(c)(1) (the “Listing Rule”).\n\nThe Notice has no immediate effect on the listing or trading of the Company’s common stock on Nasdaq. However, if the Company fails to timely regain compliance with the Listing Rule, the Company’s common stock will be subject to delisting from Nasdaq.\n\nUnder the Nasdaq rules, the Company has 60 days from the date of the Notice either to file the Annual Report or to submit a plan to Nasdaq to regain compliance with Nasdaq’s listing rules. If a plan is submitted and accepted, the Company could be granted up to 180 calendar days from the Annual Report’s due date to regain compliance. If Nasdaq does not accept the Company’s plan, then the Company will have the opportunity to appeal that decision to a Nasdaq hearings panel.\n\nThe Company continues to work diligently to complete the Annual Report.\n\nThis announcement is made in compliance with Nasdaq Listing Rule 5810(b), which requires prompt disclosure of receipt of a deficiency notification.\n\nAbout The Bancorp\n\nThe 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 ...