Bancorp, Inc. (TBBK) FY2025 10-K Annual Report
Bancorp, Inc. (TBBK) 10-K annual report for fiscal year 2025, filed with SEC EDGAR on Feb 25, 2026. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.
Bancorp, Inc. FY2025 10-K Analysis
Business Overview
- • Core business model: Deposit funding sourced primarily from multi-year fintech partner relationships with payment, payroll, and government-based accounts
- • New senior debt issued: $200 million 7.375% senior notes due 2030, proceeds used to repay matured 4.75% senior notes and fund share repurchase program
- • Strategic emphasis on liquidity: Enhanced use of FHLB borrowings ($199 million at 2025 year-end) and off-balance sheet deposits totaling $400 million
- • Key metric: Total deposits up 14% to $7.89 billion in 2025, with significant growth in demand and interest checking balances
- • Noteworthy fact: Average interest-bearing Fed Reserve balances declined sharply to $225.4 million in Q4 2025 from $527.8 million in Q4 2024 reflecting tighter liquidity management
Management Discussion & Analysis
- • Revenue fintech fees $141.1M, up 21% YoY from $116.8M; total non-interest income $328.3M, up $170.8M YoY mainly from fintech credit enhancement
- • Net income $228.2M, up 5% YoY from $217.5M; net interest margin 4.31% vs 4.85% YoY, decreased 54bps due to fintech loan mix shift
- • Best segment fintech loans: $1.10B end 2025, up 142% YoY from $454.4M; worst performing institutional banking restructured with $1.1M charge Q4 2025
- • Capital return $375M in 2025 with 5.646M shares repurchased at $66.42 avg; 2026 repurchase authorization $200M; investing in AI and infrastructure upgrades
- • Outlook fintech loans expected to grow, causing margin compression; expect continued fintech fee income growth; $8M run-rate expense reductions from restructuring starting 2026
Risk Factors
- • Regulatory risk from potential balance sheet growth exceeding $10 billion, triggering enhanced supervisory requirements under federal banking regulations
- • Macroeconomic exposure to interest rate changes affecting deposit competition and liquidity, risking funding impairments and margin compression
- • Operational risk in dependence on digital delivery channels, with unique challenges including cybersecurity, customer trust, and lack of physical branch presence
- • Competitive threat from larger traditional banks with greater resources to invest in technology-driven product innovations and internet banking services
- • Financial risk tied to key-person dependency for implementing operational improvements and managing growth, risking increased costs and reduced profitability
Bancorp, Inc. FY2025 Key Financial MetricsXBRL
Revenue
$141M
▲ +20.8% YoY
Net Income
$228M
▲ +4.9% YoY
Net Margin
161.7%
▼ -2457bp YoY
ROE
33.1%
▲ +554bp YoY
Total Assets
$9.4B
▲ +7.2% YoY
EPS (Diluted)
$4.92
▲ +14.7% YoY
Operating Cash Flow
$265M
▲ +15.5% YoY
Source: XBRL data from Bancorp, Inc. FY2025 10-K filing on SEC EDGAR. All figures in USD.
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