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.