The Bancorp, Inc. · NASDAQ:TBBK
The Bancorp — Bancorp — IPO Roadshow (August 2025)
39 slides from The Bancorp's IPO roadshow presentation, Aug 14, 2025
Slide 1: The Bancorp Fixed Income Investor Presentation August 2025
THE BANCORP FIXED INCOME INVESTOR PRESENTATION AUGUST 2025
Slide 2: Forward Looking Statements & Other Disclosures
2 DISCLOSURES FORWARD LOOKING STATEMENTS & OTHER DISCLOSURES General Disclaimer The Bancorp, Inc. (“The Bancorp,” the “Company,” “we,” “our,” or “us”) has filed a registration statement on Form S - 1 (including a preliminary prospectus) with the Securities and Exchange Commission (the “SEC”) for the
Slide 3: Terms of Proposed Senior Notes Offering
¹A credit rating is not a recommendation to buy, sell, or hold any securities of the Company and may be revised or withdrawn at any time. TERMS OF PROPOSED SENIOR NOTES OFFERING INTRODUCTION Issuer The Bancorp, Inc. Security Senior Unsecured Notes due 2030 Expected Rating BBB+ by Kroll Bond Rating A
Slide 4: Overview of Today's Presenters and Experienced Management Team
OVERVIEW OF TODAY’S PRESENTERS AND EXPERIENCED MANAGEMENT TEAM • CEO of Modern Bank N.A. • CEO of Citigroup Private Bank • Managing Director at Bank of America Securities Damian Kozlowski Chief Executive Officer Years at The Bancorp – 9 Years of Banking Experience – 28 CEO Ryan Harris EVP, Head of F
Slide 5: Investment Highlights: Specialized Branchless Banking Platform
5 FINANCIAL PERFORMANCE WE HAVE BUILT A SPECIALIZED, BRANCHLESS BANKING PLATFORM CENTERED ON A WELL POSITIONED PAYMENTS BUSINESS INVESTMENT HIGHLIGHTS Note: Reflects information for the quarter ended June 30, 2025 unless otherwise specified 1 Market data as of August 12, 2025; stock price of $67.17;
Slide 6: Delivering Strong Financial Performance
6 FINANCIAL PERFORMANCE DELIVERING STRONG FINANCIAL PERFORMANCE 1 Excludes consumer fintech credit enhancement income and as a result is a Non - GAAP financial measure. See our reconciliation of n on - GAAP financial measures to their most directly comparable GAAP financial measures in the Appendix.
Slide 7: The Bancorp Core Business Model
7 THE BANCORP CORE BUSINESS MODEL FINTECH SOLUTIONS GENERATES NON - INTEREST INCOME AND ATTRACTS STABLE, LOWER - COST DEPOSITS DEPLOYED INTO ASSETS IN SPECIALIZED MARKETS THE BANCORP BUSINESS MODEL
Slide 8: Fintech Ecosystem
8 FINTECH PARTNER BANK FINTECH LEADERSHIP PAYMENT NETWORKS FACILITATE payments between parties via the card networks. PROGRAM MANAGERS CLIENT FACING platforms deliver highly scalable banking solutions to customers with emphasis on customer acquisition and technology. REGULATORS OVERSIGHT of domestic
Slide 9: Fintech Solutions: Deposit & Fee Generation
FINTECH SOLUTIONS: DEPOSIT & FEE GENERATION
Slide 10: Payments Business: Stable, Lower Cost Deposit Generator
10 PAYMENTS BUSINESS: STABLE, LOWER COST DEPOSIT GENERATOR HIGHLIGHTS • Stable, lower - cost deposit base anchored by contractual, multi - year relationships in our Fintech Solutions business • Fintech Solutions growth driven by increased transactional volume due to electronic banking migration and
Slide 11: Fintech Solutions: Fee & Deposit Generating Activities
11 FINTECH SOLUTIONS: FEE & DEPOSIT GENERATING ACTIVITIES ENABLING LEADING FINTECH COMPANIES DEBIT PROGRAM MANAGERS (CHALLENGER BANKS) PREPAID/STORED VALUE PROGRAM MANAGERS • Provides physical and virtual card issuing • Maintains deposit balances on cards • Facilitates payments into the card network
Slide 12: Fintech Solutions: Established Operating Platform
12 FINTECH SOLUTIONS : ESTABLISHED OPERATING PLATFORM SCALABLE PLATFORM ESTABLISHED OPERATING PLATFORM • Infrastructure in place to support significant growth • Long - term relationships with multiple processors enable efficient onboarding • Continued technology investments without changes to expens
Slide 13: Fintech Solutions: Stable, Lower-Cost Deposit Generator
13 FINTECH SOLUTIONS : STABLE, LOWER - COST DEPOSIT GENERATOR STABLE DEPOSITS & SIGNIFICANT BALANCE SHEET LIQUIDITY STRONG POSITIONING Our deposit base is primarily comprised of granular, small balance, FDIC insured accounts and we maintain significant borrowing capacity on our credit lines ESTIMATE
Slide 14: Loans, Leases & Supporting Collateral
LOANS, LEASES & SUPPORTING COLLATERAL
Slide 15: Loans & Leases Strategic Outlook
15 LOANS & LEASES STRATEGIC OUTLOOK Optimize balance sheet and continue to capitalize on fintech lending opportunities KEY CONSIDERATIONS FOR LENDING GROWTH MANAGE CREDIT RISK TO DESIRED LEVELS OPTIMIZE NET INTEREST MARGIN AND MONITOR INTEREST RATE SENSITIVITY EXPAND FINTECH LENDING WITH KEY CLIENTS
Slide 16: Loans & Leases: Historical Loan Composition
16 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% 2020 2021 2022 2023 2024 2025Q2 SBLOC/IBLOC/ Advisor Financing Real Estate Bridge Lending Yield on Loans 4.34% 4.19% 4.86% 7.62% 7.74% 6.84% Total Loans ($B, Incl. HFS) 4.5 5.1 6.1 5.7 6.3 6.7 YoY Growth (%) 48.5% 15.1% 18.3% (6.3%) 11.3% 14.5% LOANS &
Slide 17: Loans & Leases: Loan Portfolio Overview
17 LOANS & LEASES LOAN PORTFOLIO OVERVIEW LOAN COLLATERAL VALUES SUPPORTED BY: A. Comprised of workforce apartment buildings in carefully selected areas B. SBLOC loans are backed by marketable securities with nominal credit losses C. IBLOC loans are backed by the cash value of life insurance policie
Slide 18: Specialized Lending Business Lines
18 SPECIALIZED LENDING SPECIALIZED LENDING BUSINESS LINES LENDING BUSINESSES Core lending businesses are comprised of our specialized lending activities Institutional Banking $1.9B Emphasize core business lines and add related products and enter adjacent markets Remain positioned to capitalize on cr
Slide 19: Loans & Leases: Real Estate Bridge Lending
19 LOANS & LEASES: REAL ESTATE BRIDGE LENDING COMMERCIAL REAL ESTATE BRIDGE LENDING BUSINESS OVERVIEW: • Resumed floating rate bridge lending business in Q3 2021 • Lending focus on workforce apartment buildings in carefully selected markets Real Estate Bridge Lending • Vast majority of loans are apa
Slide 20: Loans & Leases: Institutional Banking
20 LOANS & LEASES: INSTITUTIONAL BANKING INSTITUTIONAL BANKING BUSINESS OVERVIEW: • Automated loan application platform, Talea, provides industry - leading speed and delivery • Securities - backed lines of credit provide fast and flexible liquidity for investment portfolios • Insurance - backed line
Slide 21: Institutional Banking: Securities & Life Insurance Lending
21 LOANS & LEASES: INSTITUTIONAL BANKING PRIMARILY COMPRISED OF SECURITIES & CASH VALUE LIFE INSURANCE LENDING SECURITIES - BACKED LINES OF CREDIT • Nominal historical credit losses • Underwriting standards of generally 50% to equities and 80% or more to fixed income securities INSURANCE - BACKED LI
Slide 22: Loans & Leases: Small Business Lending
22 LOANS & LEASES: SMALL BUSINESS LENDING SMALL BUSINESS LENDING BUSINESS OVERVIEW: • Established a distinct platform within the fragmented SBA market − National portfolio approach allows pricing and client flexibility − Solid credit performance demonstrated over time − Client segment strategy tailo
Slide 23: Strong Collateral & Government Guarantees
23 LOANS & LEASES: STRONG COLLATERAL & GOVERNMENT GUARANTEES SMALL BUSINESS LENDING 1 Excludes the government guaranteed portion of SBA 7(a) loans and PPP loans. TYPE DISTRIBUTION • Diverse product mix • Commercial mortgage and construction are generally originated with 50% - 60% LTV’s GEOGRAPHIC DI
Slide 24: Loans & Leases: Commercial Fleet Leasing
24 LOANS & LEASES: COMMERCIAL FLEET LEASING COMMERCIAL FLEET LEASING BUSINESS OVERVIEW: • Niche provider of vehicle leasing solutions − Focus on smaller fleets (less than 150 vehicles) − Direct lessor (The Bancorp Bank, N.A. sources opportunities directly and provides value - add services such as ou
Slide 25: Commercial Fleet Leasing Portfolio
25 LOANS & LEASES: COMMERCIAL FLEET LEASING PORTFOLIO COMMERCIAL FLEET LEASING • Largest concentration is construction and government sectors • Of the $698M total portfolio, $644M are vehicle leases with the remaining $54M comprised of equipment leases PORTFOLIO ATTRIBUTES TOTAL BALANCE STATE 17% $
Slide 26: Financial Review
FINANCIAL REVIEW ree.) TheB j e Bancorp
Slide 27: Financial Review: Q2 2025 Financial Highlights
27 FINANCIAL REVIEW: Q2 2025 FINANCIAL HIGHLIGHTS Q2 HIGHLIGHTS • Return on average assets for the quarter was 2.64% • Net interest margin was 4.44% • Total loans and leases, including HFS, increased 14% year - over - year • Prepaid, debit card and related fees increased 5% year - over - year to $26
Slide 28: Financial Review: Interest Rate Sensitivity
28 HIGHLIGHTS • Since rate hikes peaked, strategic focus was shifted to origination of fixed rate loans across business lines FINANCIAL REVIEW: INTEREST RATE SENSITIVITY 4.4% NIM IN Q2 AND CONSISTENTLY STRONG MARGINS THROUGHOUT VARIOUS RATE ENVIRONMENTS Real Estate Bridge Lending $2,249 ~$1.5B is fi
Slide 29: Conservative and Well-Positioned Investment Portfolio
29 FINANCIAL REVIEW: INTEREST RATE SENSITIVITY CONSERVATIVE AND WELL - POSITIONED INVESTMENT PORTFOLIO a^^NlJVA]" 1 0NmVLN_pVA]" 1 mmNp ¥ IAJ\NL mNJqlVpVNm 3AxAI]NmpApN A_Lia] 4 1 avNl_^N_p ATN_Jy "% 3Ax ¥ NxN^ip mpApNA_Lia] AVAILABLE FOR SALE SECURITIES 06/30/2025 $1.5B Tota
Slide 30: Earnings and Profitability: Revenue Growth Exceeds Expense Growth
30 FINANCIAL REVIEW: EARNINGS AND PROFITABILITY REVENUE GROWTH HAS EXCEEDED EXPENSE GROWTH SINCE 2022 1 Revenue includes net interest income and non - interest income. Excludes consumer fintech loan credit enhancement income. Please s ee Appendix for reconciliation. NON - INTEREST EXPENSE $ Millions
Slide 31: Historical Performance and Long-Term Targets
31 FINANCIAL REVIEW: EARNINGS AND PROFITABILITY HISTORICAL PERFORMANCE AND LONG - TERM TARGETS LONG - TERM TARGETS Q2 2025 2024 2023 2022 2021 2020 PERFORMANCE METRICS >40% 28.4% 27.2% 25.6% 19.3% 17.9% 15.1% ROAE¹ >4.0% 2.64% 2.71% 2.59% 1.81% 1.68% 1.34% ROAA¹ $1.27 $4.29 $3.49 $2.27 $1.88 $1.37 D
Slide 32: Financial Review: Historical Capital Position
32 FINANCIAL REVIEW: HISTORICAL CAPITAL POSITION CAPITAL POSITION HIGHLIGHTS • Corporate governance requires periodic assessment of capital minimums • Capital planning includes stress testing for unexpected conditions and events Tier 1 RBC Ratio¹ Total RBC Ratio Tier 1 Leverage Ratio THE BANCORP, IN
Slide 33: Financial Review: Loan Loss Reserve
33 $0 $5 $10 $15 $20 $25 $30 $35 $40 $45 $50 $55 $60 2020 2021 2022 2023 2024 Q2 2025 FINANCIAL REVIEW: LOAN LOSS RESERVE ALLOWANCE FOR CREDIT LOSSES PRIMARILY REFLECTS OUR CHARGE - OFF HISTORY HIGHLIGHTS • The increase in allowance driven by Consumer Fintech is entirely offset by credit enhancement
Slide 34: Appendix
APPENDIX ree.) TheB j e Bancorp
Slide 35: Double Leverage & Interest Coverage
35 APPENDIX DOUBLE LEVERAGE & INTEREST COVERAGE Year Ending December 31, Year-to-Date Offering PF for $200M ($ in thousands, except per share amounts) 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025 Q2 Adjustments Debt Raise² Double Leverage Ratios Total Investment in Subsidiaries $575,293 $686,248 $77
Slide 36: Historical Balance Sheet
36 HISTORICAL BALANCE SHEET APPENDIX Quarter Ended ($ in thousands) 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025 Q2 Assets: Total Cash and Cash Equivalents 345,515 601,784 888,189 1,038,090 570,123 340,265 Total Securities 1,206,164 953,709 766,016 747,534 1,502,860 1,481,500 Loans & Leases HFS 1,81
Slide 37: Historical Income Statement
37 HISTORICAL INCOME STATEMENT APPENDIX Quarter Ended ($ in thousands) 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025 Q2 Interest and Fees on Loans 170,960 192,636 275,837 436,649 458,817 112,326 Interest and Dividends on Securities 37,937 28,764 25,696 39,231 66,449 22,496 Interest earning deposits 1
Slide 38: GAAP Revenue & Efficiency Ratio Calculations
38 GAAP REVENUE & EFFICIENCY RATIO CALCULATIONS APPENDIX Quarter Ended YTD ($ in thousands) 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2024Q4 2025 Q1 2025 Q2 2024 Q2 2025 Q2 Net Interest Income 194,866 210,876 248,841 354,052 376,241 94,296 91,743 97,492 188,213 189,235 Non-interest Income 84,617 104,7
Slide 39: Other Non-GAAP Reconciliations
39 OTHER NON - GAAP RECONCILIATIONS APPENDIX Quarter Ended Pro Forma¹ ($ in thousands) 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2024Q4 2025 Q1 2025 Q2 2025 Q2 Shareholders Equity 581,164 652,454 694,031 807,281 789,783 789,783 829,687 860,266 860,266 Less: Intangible Assets 2,845 2,447 2,049 1,651 1,