The Bancorp (TBBK) Reports Q4 Loss of $0.22

The Bancorp (NASDAQ: TBBK) reported Q4 EPS of ($0.22), versus $0.10 reported last year.

Highlights

• Fourth quarter and full year pre tax income of $10.2 million and $40.4 million, respectively, from continuing operations
• Net interest income increased 7% to $26.7 million for the quarter ended December 31, 2017, compared to $25.0 million for the quarter ended December 31, 2016.
• Net interest margin increased to 3.11% for the quarter ended December 31, 2017, compared to 2.84% for the quarter ended December 31, 2016.
• Prepaid fees for the quarter ended December 31, 2017 increased to $14.1 million, or 18%, compared to fourth quarter 2016.
• Loans increased 14% to $1.39 billion at December 31, 2017, compared to $1.22 billion at December 31, 2016.
• Security backed lines of credit (“SBLOC”) increased 16% to $730.5 million at December 31, 2017, compared to $630.4 million at December 31, 2016.
• Direct lease financing increased 9% to $378.0 million at December 31, 2017 compared to $346.6 million at December 31, 2016.
• Small Business Administration (“SBA”) loans increased 9% to $401.9 million at December 31, 2017, compared to $369.8 million at December 31, 2016.
• The rate on average deposits and interest bearing liabilities of $3.71 billion in the fourth quarter of 2017 was 0.45% with a rate of 0.56% for $2.05 billion of average prepaid card deposits.
• Assets held for sale from discontinued operations decreased 16% to $304.2 million at December 31, 2017, compared to $360.7 million at December 31, 2016.
• Consolidated leverage ratio was 7.9% at December 31, 2017, after the deferred tax adjustment relating to the tax reform reduction in the corporate tax rate.
• Book value per common share at December 31, 2017 was $5.81 per share. The Bancorp and its subsidiary, The Bancorp Bank, remain well capitalized.

For earnings history and earnings-related data on The Bancorp (TBBK) click here.

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