The Bancorp, Inc. Reports Earnings Results for the Fourth Quarter Ended December 31, 2019
January 31, 2020 at 02:43 am IST
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The Bancorp, Inc. announced earnings results for the fourth quarter ended December 31, 2019. For the fourth quarter, the company announced net income was USD 1.854 million compared to USD 7.119 million a year ago. Basic earnings per share from continuing operations was USD 0.05 compared to USD 0.11 a year ago. Basic earnings per share was USD 0.03 compared to USD 0.13 a year ago. For the full year, net income was USD 51.559 million compared to USD 88.677 million a year ago. Basic earnings per share from continuing operations was USD 0.9 compared to USD 1.55 a year ago. Basic earnings per share was USD 0.91 compared to USD 1.57 a year ago. Diluted earnings per share from continuing operations was USD 0.89 compared to USD 1.53 a year ago. Diluted earnings per share was USD 0.9 compared to USD 1.55 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. 
