Short answer
Bancorp, Inc. (TBBK) filed its fiscal 2025 10-K annual report with the SEC on Feb 25, 2026. It reported revenue of $141M (+20.8% year over year) and net income of $228M.
- Top risk flagged: Regulatory risk from potential balance sheet growth exceeding $10 billion, triggering enhanced supervisory requirements under federal banking regulations
FY2025 key financial metrics · XBRL
- Revenue
- $141M
- +20.8% YoY
- Net income
- $228M
- +4.9% YoY
- EPS (diluted)
- $4.92
- +14.7% YoY
- ROE
- 33.1%
- +5.5 pp YoY
- Operating cash flow
- $265M
- +15.5% YoY
Source: XBRL data from the Bancorp, Inc. (TBBK) FY2025 10-K on SEC EDGAR. USD.
Bancorp, Inc. FY2025 10-K analysis
AI summary of each section, grounded in the filing text
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
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