The Bancorp Inc. Reports Earnings Results for the Fourth Quarter Ended December 31, 2018
January 25, 2019 at 03:10 am IST
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The Bancorp Inc. announced earnings results for the fourth quarter ended December 31, 2018. For the fourth quarter, the company announced net income was USD 7.119 million compared to net loss of USD 12.435 million a year ago. Basic earnings per share from continuing operations was USD 0.11 compared to basic loss per share from continuing operations of USD 0.24 a year ago. Basic earnings per share was USD 0.13 compared to basic loss per share of USD 0.22 a year ago.
For the full year, net income was USD 88.677 million compared to USD 21.673 million a year ago. Basic earnings per share from continuing operations was USD 1.55 compared to USD 0.31 a year ago. Basic earnings per share was USD 1.57 compared to USD 0.39 a year ago. Diluted earnings per share from continuing operations was USD 1.53 compared to USD 0.31 a year ago. Diluted earnings per share was USD 1.55 compared to USD 0.39 a year ago.
The Bancorp, Inc. is a financial holding company. The Company's segments include Specialty Finance and Payments. Its primary lines of specialty lending include securities-backed lines of credit (SBLOC) and cash value of insurance-backed lines of credit (IBLOC), leasing (direct lease financing), Small Business Administration (SBA) loans and non-SBA commercial real estate (CRE) loans. Its SBLOCs and IBLOCs are loans which are generated through institutional banking affinity groups and are respectively collateralized by marketable securities and the cash value of insurance policies. It offers investment advisor financing to investment advisors. The Company also offers small business loans (SBL), which are comprised primarily of SBA loans and vehicle fleet and, to a lesser extent, other equipment leasing to small and medium sized businesses. Its SBLOCs and IBLOCs are offered in conjunction with brokerage accounts. The Companyâs subsidiary is The Bancorp Bank, National Association.
THE BANCORP, INC. 
