The Bancorp (TBBK) Misses Q2 EPS by 3c

The Bancorp (NASDAQ: TBBK) reported Q2 EPS of $0.11, $0.03 worse than the analyst estimate of $0.14.

Damian Kozlowski, The Bancorp’s Chief Executive Officer, said, “The sale of our Safe Harbor IRAs in July 2018 concludes our divestiture of non-core assets started when our new business plan was approved by our board of directors in the 3rd quarter of 2016. Like our European and HSA franchises, our safe harbor business was sub scale, carried regulatory risks and was unlikely to deliver longer-term growth or innovation to our business model. Therefore, its sale for $65 million or over 10 times 2017 fees will allow our company to likely hit long-term capital targets in the 3rd quarter of this year and provide capital and management focus for growth of our core strategic businesses.”

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

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