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The Bancorp Bank Obtains National Charter from the OCC
Rhea-AI Impact
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Rhea-AI Sentiment
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Rhea-AI Summary
The Bancorp Bank, a wholly-owned subsidiary of The Bancorp Inc. (NASDAQ: TBBK), has successfully completed its charter conversion, now operating as a national bank under the Office of the Comptroller of the Currency. CEO Damian Kozlowski emphasized that this transition will enhance their capability to provide innovative banking services. With over 20 years in the industry, the Bank serves a broad range of corporate partners, offering specialized services like Fintech Solutions, Commercial Lending, and more, while being recognized as a leader in prepaid card issuance in the U.S.
Positive
Completion of charter conversion to a national bank, enhancing regulatory support.
Over 20 years of experience serving diverse corporate partners, including Fortune 500 companies.
Recognized as the top issuer of prepaid cards in the U.S.
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None.
WILMINGTON, Del.--(BUSINESS WIRE)--
The Bancorp Bank (“Bank”,) a wholly-owned subsidiary of The Bancorp, Inc., is pleased to announce it has completed the charter conversion process with the Office of the Comptroller of the Currency (OCC). The Bank now operates as a national bank under the regulatory supervision of the OCC as The Bancorp Bank, National Association (or “The Bancorp Bank, N.A.”)
“We are delighted to have a new regulatory partner to further the development of the financial services industry. As a national platform that enables many of the most innovative companies, The Bancorp will continue to focus on safe and sound innovation and greater access to banking services,” said Damian Kozlowski, Chief Executive Officer and President.
For over 20 years, the Bank has provided payments and specialized lending services to nonbank corporate partners, ranging from entrepreneurial startups to companies listed on the Fortune 500. Through its Fintech Solutions, Institutional Banking, Commercial Lending, and Real Estate Bridge Lending businesses, the Bank uses a “partner first” approach to deliver valuable banking solutions backed by innovative technology and service excellence.
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. Through its Fintech Solutions, Institutional Banking, Commercial Lending, and Real Estate Bridge Lending businesses, The Bancorp provides partner-focused solutions paired with cutting-edge technology for companies that range from entrepreneurial startups to Fortune 500 companies. With over 20 years of experience, The Bancorp has become a leader in the financial services industry, 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, with one of the few bank-owned commercial vehicle leasing groups. By its company-wide commitment to excellence, The Bancorp has also been ranked as one of the 100 Fastest-Growing Companies by Fortune, a 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/.
