August 24, 2016 1:04 PM ET

Banks

Company Overview of The Bancorp Bank

Company Overview

The Bancorp Bank provides personal and business banking services. Its personal banking products and services include personal checking and savings accounts, health savings accounts, IRAs, money market accounts, and loans and lines of credit; and business banking products and services include business checking and savings accounts, loans and lines of credit, and money market accounts. The company also provides online banking services. The Bancorp Bank was formerly known as The Bancorp.com Bank and changed its name to The Bancorp Bank in October 2002. The company was founded in 1999 and is based in Wilmington, Delaware. The Bancorp Bank operates as a subsidiary of The Bancorp Inc.

409 Silverside Road

Suite 105

Wilmington, DE 19809

United States

Founded in 1999

Phone:

302-385-5000

Fax:

302-385-5099

Key Executives for The Bancorp Bank

President and Director
Age: 51
Chairman of the Board, Executive Vice President, Chairman of the Bancorp Inc and Executive Vice President of the Bancorp Inc
Age: 46
Chief Financial Officer, Executive Vice President of Strategy and Secretary
Age: 63
Chief Operating Officer and Chief Operating Officer of The Bancorp, Inc
Age: 76
Chief Accounting Officer and Senior Vice President
Age: 48
Compensation as of Fiscal Year 2016.

The Bancorp Bank Key Developments

The Bancorp, Inc. and the Bancorp Bank Announce Board Appointments

On August 17, 2016, the Board of Directors of each of The Bancorp Inc. and its wholly-owned subsidiary, The Bancorp Bank, resolved to appoint John Eggemeyer and Shivan Govindan as directors of both the Company and the Bank. Mr. Eggemeyer's and Mr. Govindan's respective appointments to the Board of Directors of the Company and the Bank will be effective upon completion of regulatory review, non-objection or approval as required by applicable law. During the pendency of the regulatory review period, Mr. Eggemeyer and Mr. Govindan will be non-voting observers to the Board of Directors of the Company and the Bank. Mr. Eggemeyer is a representative of Castle Creek Capital and Mr. Govindan is a representative of Pilgrims & Indians Capital LLC. Mr. Govindan is Managing Member of P&I.

The Bancorp Inc. and Bancorp Bank Announces Executive Changes

The Bancorp Inc. hired John Leto as chief administrative officer and promoted Pawneet Abramowski to chief compliance officer. Both positions are for the company and subsidiary Bancorp Bank. Abramowski's appointment is still subject to regulatory approval. She retains her current oversight of financial crimes risk management. Leto's role is a new position at the Wilmington, Del.-based company. He was previously a senior vice president and the national sales head of wealth management at TD Bank NA.

The Bancorp Inc. and The Bancorp Bank Announce Executive Changes

Gail S. Ball, Chief Operating Officer of the Bancorp Inc. and The Bancorp Bank was terminated on July 26, 2016. The Board of Directors of each of the Bancorp Inc. and the Bank appointed Hugh McFadden as Chief Operating Officer of the company and the Bank. The appointment was effective on July 27, 2016, subject to regulatory review. Mr. McFadden, age 76, previously served as a Consultant for Promontory Financial Group since February 2014, and previously worked at PFG in this capacity from September 2007 to March 2011.

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
October 23, 2015
The Bancorp Bank, Health Savings Account Portfolio
 

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