The Bancorp Inc. expected to Report Fiscal Year 2009 Results on January 25, 2010. This event was calculated by Capital IQ (Created on October 27, 2009).

The Bancorp Inc. announced unaudited condensed earnings results for the third quarter and nine months ended September 30, 2009. For the quarter, the company's net income was $1.75 million and net income available to common shareholders was $0.79 million or $0.04 per diluted share compared to net income of $0.3 million and net income available to common shareholders of $0.24 million or $0.02 per diluted share, for the three months ended September 30, 2008. Net interest income was $15.98 million compared to $13.49 million for the same period a year ago. Net income before income tax expense was $2.57 million compared to $0.39 million for the same period a year ago. Return on average assets was 0.38% compared to 0.06% for the same period a year ago. Return on average equity was 3.32% compared to $0.60% for the same period a year ago. Book value per share was $7.69 compared to $11.78 for the same period a year ago. For the nine months, the company's net income was $4.07 million and net income available to common shareholders of $1.3 million or $0.08 per diluted share compared to net loss of $1.19 million and net loss available to common shareholders was $1.2 million or $0.08 per share, for the nine months ended September 30, 2008. Net interest income was $46.86 million compared to $39.31 million for the same period a year ago. Net income before income tax expense was $6.3 million compared to net loss before tax of $1.84 million for the same period a year ago. Return on average assets was 0.30% compared to negative return on average assets of 0.09% for the same period a year ago. Return on average equity was 2.83% compared to negative return on average equity of 0.89% for the same period a year ago. Book value per share was $7.69 compared to $11.78 for the same period a year ago.

The Bancorp Inc. said that the company is looking at acquiring divisions of institutions rather than acquiring a traditional whole sales bank. Betsy Cohen, Chief Executive Officer of The Bancorp said, “We think that we're better served – I mean I did that just by making that up. But we're better served by looking at banks that have distress that have portfolios either in merchant acquiring in other areas in which we have strengths and making acquisitions of divisions of institutions. We have a depth of experience, as you know, in the prepaid area and there are banks in the country which have been in the southwest traditionally for state law purposes, which had distress on their asset side and, therefore, provide us, we think, with an opportunity of two things, one to acquire customers and two, to acquire divisions. So we think that there is tremendous opportunity for growth, although it may not be a traditional whole sales bank acquisition.”