The Bancorp Appoints Dwayne Allen to Its Board of Directors

Rhea-AI Summary

The Bancorp (NASDAQ: TBBK) has appointed Dwayne Allen to its Board of Directors, effective January 1, 2025. Allen brings over 25 years of senior leadership experience in technology and digital transformation. He currently serves as Senior Vice President and Chief Technology Officer at Unisys, and previously held positions at Microsoft as Global Digital Strategist (2019-2021) and at Masonite International as Vice President and CIO (2017-2019).

Allen's career includes notable roles as Division CIO at Cummins Inc., VP of Information Technology at Fifth Third Bank, and VP and Division CIO at Wells Fargo. He currently serves on the board of Cross Country Healthcare. CEO Damian Kozlowski emphasized that Allen's IT expertise will help guide The Bancorp's innovation and demonstrates the company's commitment to strategic growth.

Positive

• Addition of seasoned technology executive with 25+ years of leadership experience
• Strategic enhancement of board expertise in digital transformation and IT
• Strengthened leadership in financial technology through Allen's prior banking experience at Fifth Third Bank and Wells Fargo

Negative

• None.

WILMINGTON, Del.--(BUSINESS WIRE)-- The Bancorp, Inc. (NASDAQ: TBBK), through its subsidiary, The Bancorp Bank, N.A. (collectively, the “Company” or “The Bancorp”), appointed Dwayne Allen to the Company’s Board of Directors, effective January 1, 2025. The addition of Allen will help drive the ongoing growth of The Bancorp.

Dwayne Allen Appointed to The Bancorp Board of Directors (Photo: Business Wire)

Allen brings more than 25 years of senior leadership experience in technology and digital transformation, spanning a variety of global industries. Since 2021, he has served as Senior Vice President and Chief Technology Officer at Unisys, a global information technology services company. Prior to Unisys, Allen was a Global Digital Strategist at Microsoft from 2019 to 2021, and held the position of Vice President and Chief Information Officer for Masonite International from 2017 to 2019.

“I am honored to join The Bancorp Board of Directors and look forward to future collaboration with this talented group,” said Allen. “Together, we have an exciting opportunity to drive meaningful progress and innovation.”

Throughout his career, Allen has held several leadership roles in information technology, including Division Chief Information Officer at Cummins Inc., Vice President of Information Technology at Fifth Third Bank, and Vice President and Division Chief Information Officer at Wells Fargo. He is also currently on the board of directors of Cross Country Healthcare.

“Dwayne’s experience and expertise in information technology bring valuable perspective, which I am confident will help guide The Bancorp’s innovation,” said Damian Kozlowski, Chief Executive Officer and President at The Bancorp. “His appointment underscores our commitment to strategic growth and delivering exceptional value to our partners and investors.”

For more information about The Bancorp and its leadership, please visit www.thebancorp.com.

About The Bancorp
The 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 U.S., a nationwide provider of bridge financing for real estate capital improvement plans, an SBA National Preferred Lender, a leading provider of securities-backed lines of credit, and one of the few bank-owned commercial vehicle leasing groups in the country. With a company-wide commitment to excellence, The Bancorp is recognized as the top-ranked publicly traded bank with assets between $5B-$50B by Bank Director Magazine, a Readers’ Choice Top 50 Employer by Equal Opportunity Magazine and was selected to be included in the S&P Small Cap 600. For more about The Bancorp, visit https://thebancorp.com/.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250121725354/en/

Media Relations

Rachel Brick, Director of Strategic Communication

The Bancorp

(302) 385-5410

rbrick@thebancorp.com



Investor Relations

Andres Viroslav, Director of Investor Relations

The Bancorp

(215) 861-7990

aviroslav@thebancorp.com

Source: The Bancorp, Inc.

FAQ

When will Dwayne Allen join The Bancorp (TBBK) Board of Directors?

Dwayne Allen will join The Bancorp's Board of Directors effective January 1, 2025.

What is Dwayne Allen's current position before joining TBBK's board?

Dwayne Allen currently serves as Senior Vice President and Chief Technology Officer at Unisys, a position he has held since 2021.

What key experience does Dwayne Allen bring to The Bancorp's board?

Allen brings over 25 years of senior leadership experience in technology and digital transformation, including roles at Microsoft, Masonite International, Cummins Inc., Fifth Third Bank, and Wells Fargo.

How does Dwayne Allen's appointment align with TBBK's strategic goals?

His appointment aligns with The Bancorp's commitment to innovation and strategic growth, bringing valuable IT and digital transformation expertise to guide the company's future development.