The Bancorp Inc. - TBBK STOCK NEWS

XTM, Inc. reported a strong performance in Q3 2021, achieving a 117% revenue increase to $862K compared to $397K in Q2 and a 327% increase over Q3 2020. The company saw significant customer acquisition, adding 334 new locations, a 185% increase from Q2. Gross Dollar Value (GDV) loaded on the platform rose 111% to over $48MM. Key partnerships were established, including with The Bancorp, Inc. for banking services. Overall, the company is experiencing rapid growth in user engagement and financial performance.

XTM, Inc. (QB:XTMIF / CSE:PAID) has announced a partnership with The Bancorp, Inc. (NASDAQ:TBBK) to provide back-end banking services and card issuing sponsorship for its instant employee payout solution tailored to the hospitality and personal care industries in the U.S.

The partnership aims to launch the Today™ Program in Q4, featuring various banking solutions such as Visa debit, ACH, direct deposits, and surcharge-free ATMs. XTM’s CEO Marilyn Schaffer highlighted The Bancorp as a leading choice for innovative banking support.

The Bancorp, Inc. (TBBK) reported a net income of $28.3 million or $0.48 diluted EPS for Q3 2021, reflecting a year-over-year increase from $23.3 million or $0.40 EPS. Return on assets and equity improved to 1.8% and 18%, respectively. Net interest income rose to $50.9 million, while net interest margin was 3.35%. The company projected $2.15 EPS guidance for 2022, indicating a 21% growth from current guidance. The Bancorp also repurchased 440,887 shares at an average cost of $22.68.

The Bancorp has announced plans to expand its office space as the anchor tenant of the new Cherapa Place development in Sioux Falls, South Dakota. The new building will consist of 50,000 square feet across the top three floors, featuring retail and upscale condos. This expansion aligns with the growth of its Fintech Solutions unit and signals a commitment to the Sioux Falls community. The project, set for completion in 2023, aims to attract high-quality talent and enhance employee experience.

The Bancorp, Inc. (TBBK) will announce its third quarter 2021 financial results after market hours on October 28, 2021. A conference call for investors is scheduled for October 29, 2021, at 8:00 a.m. Eastern time. Interested parties can access the live webcast on Bancorp’s website or dial in at 844.775.2543. A replay will be available until November 5, 2021.

Based in Wilmington, Delaware, Bancorp provides banking solutions to non-bank financial companies through its subsidiary, The Bancorp Bank.

The Bancorp (NASDAQ: TBBK) announces its support for the Brotherhood Ride for the seventh consecutive year, starting August 21, 2021. This event honors Florida's first responders who died in the line of duty in 2020 and commemorates the 20th anniversary of 9/11. The ride, covering 1,700 miles from Naples, FL to New York City, showcases the company's commitment to first responders. The Bancorp supports this initiative by providing a truck to transport supplies during the ride, which raises funds for families of fallen heroes.

The Bancorp reported strong financial results for Q2 2021, with net income reaching $29.2 million and $0.50 diluted EPS, compared to $20.1 million and $0.35 a year earlier. The company's return on assets and equity improved to 1.7% and 19%, respectively. Net interest income rose by 8% to $54.1 million, while average loans increased by 16% to $4.58 billion. The Bancorp raised its 2021 EPS guidance to $1.78, anticipating 20% income growth for 2022.

The Bancorp Bank (NASDAQ: TBBK) has partnered with Current, a leading fintech company, to enhance banking services for Current's members. This partnership will provide an improved suite of services, including physical and virtual debit cards, catering to Current's growing user base of nearly 3 million members. Current has experienced significant growth, tripling its valuation to $220 million following a successful Series D funding round. The Bancorp aims to leverage its expertise in backend banking solutions to support Current's mission of improving financial outcomes for its users.

The Bancorp, Inc. (NASDAQ: TBBK) announced it will release its second quarter 2021 financial results on July 29, 2021, after market hours. A conference call to discuss the results will take place on July 30, 2021, at 8:00 a.m. Eastern time. Interested participants can access the call via Bancorp's website or by phone. The company, based in Wilmington, Delaware, offers a range of financial services, including fintech solutions and commercial lending, and is recognized as a top issuer of prepaid cards in the U.S.