# EDGAR Filing Document

**Accession Number:** 0001295401
**File Stem:** 0001104659-25-078138
**Filing Date:** 2025-8
**Character Count:** 45626
**Document Hash:** c6e1c85359facd9481006b7ceda54ea9
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-25-078138.hdr.sgml**: 20250814

**ACCESSION NUMBER**: 0001104659-25-078138

**CONFORMED SUBMISSION TYPE**: FWP

**PUBLIC DOCUMENT COUNT**: 40

**FILED AS OF DATE**: 20250814

**DATE AS OF CHANGE**: 20250814

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Bancorp, Inc.
- **CENTRAL INDEX KEY:** 0001295401
- **STANDARD INDUSTRIAL CLASSIFICATION:** NATIONAL COMMERCIAL BANKS [6021]
- **ORGANIZATION NAME:** 02 Finance
- **EIN:** 233016517
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** FWP
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 333-289422
- **FILM NUMBER:** 251214498

**BUSINESS ADDRESS:**
- **STREET 1:** 409 SILVERSIDE ROAD
- **CITY:** WILMINGTON
- **STATE:** DE
- **ZIP:** 19809
- **BUSINESS PHONE:** 302-385-5000

**MAIL ADDRESS:**
- **STREET 1:** 409 SILVERSIDE ROAD
- **CITY:** WILMINGTON
- **STATE:** DE
- **ZIP:** 19809
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Bancorp, Inc.
- **CENTRAL INDEX KEY:** 0001295401
- **STANDARD INDUSTRIAL CLASSIFICATION:** NATIONAL COMMERCIAL BANKS [6021]
- **ORGANIZATION NAME:** 02 Finance
- **EIN:** 233016517
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** FWP

**BUSINESS ADDRESS:**
- **STREET 1:** 409 SILVERSIDE ROAD
- **CITY:** WILMINGTON
- **STATE:** DE
- **ZIP:** 19809
- **BUSINESS PHONE:** 302-385-5000

**MAIL ADDRESS:**
- **STREET 1:** 409 SILVERSIDE ROAD
- **CITY:** WILMINGTON
- **STATE:** DE
- **ZIP:** 19809

Filed Pursuant to Rule 433

Registration No. 333-289422

August 14, 2025

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THE BANCORP FIXED INCOME INVESTOR PRESENTATION AUGUST 2025

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2 DISCLOSURES FORWARD LOOKING STATEMENTS & OTHER DISCLOSURES General Disclaimer The Bancorp, Inc. ("The Bancorp," the "Company," "we," "our," or "us") has filed a registration statement on Form S - 1 (including a preliminary prospectus) with the Securities and Exchange Commission (the "SEC") for the offering to which this presentation relates, but such registration statement has not yet becom e e ffective. The senior unsecured notes due 2030 to be offered by the Company (the "notes") may not be sold, nor may any offers to buy be accepted, prior to the time the registration state men t becomes effective. Before you invest, you should read the Registration Statement, preliminary prospectus, prospectus supplements and the other documents the Company has filed or will fil e with the SEC for more complete information about the Company and this offering. You can obtain these documents for free by visiting EDGAR on the SEC website at www.sec.gov or th e C ompany's website at www.thebancorp.com. Alternatively, copies of the preliminary prospectus may be obtained by contacting Piper Sandler & Co. by telephone at 866 - 805 - 4128, or by email at fsg - dcm@psc.com. This presentation has been prepared to assist potential investors in making their own evaluation of The Bancorp and does not pur port to contain all of the information that may be relevant or material to a potential investor's investment decision. In all cases, potential investors should conduct their own investigat ion and analysis of The Bancorp, the information set forth in this presentation, included in the prospectus, and other information provided by or on behalf of The Bancorp. This presentation shall not constitute an offer to sell or a solicitation of an offer to purchase the notes and shall not con sti tute an offer, solicitation or sale in any state or jurisdiction in which, or to any person to whom, such an offer, solicitation or sale would be unlawful. Any offers of the notes will be made only by me ans of an effective registration statement and prospectus. Forward - Looking Statements This presentation contains statements about future events and expectations that constitute forward - looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may be identified by the use of forward - looking terminology, including the words "intend," "may," "believe," "will," "expect," "look," "anticipate," "plan," "e stimate," "continue," similar words or the negatives thereof. Forward - looking statements include but are not limited to, statements regard ing our anticipated annual fiscal 2025 results, profitability, and increased volumes, and relate to our current assumptions, projections, and expectations about our business and future eve nts , including current expectations about important economic, political, and technological factors, among other factors, and are subject to risks and uncertainties, which could cause the act ual results, events, or achievements to differ materially from those set forth in or implied by the forward - looking statements and related assumptions. Factors that could cause results to dif fer from those expressed in the forward - looking statements also include, but are not limited to, the risks and uncertainties referenced or described in The Bancorp's filings with the SEC , including the "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections of the Company's Annual Report on Form 10 - K/A, for the fisc al year ended December 31, 2024, filed with the SEC on April 7, 2025, and other documents that the Company files from time to time with the SEC. You are cautioned not to place undue reli anc e on any forward - looking statements, which speak only as of the date made. By their nature, these statements are subject to numerous assumptions, risks and uncertainties that could cau se actual results to differ materially from those contemplated by our forward - looking statements. The Bancorp does not undertake any duty to publicly revise or update forward - loo king statements in this presentation to reflect events or circumstances that arise after the date of this presentation, except as may be required under applicable law. Past performanc e i s not indicative nor a guarantee of future results. Non - GAAP Financial Measures This presentation contains information regarding financial results that is calculated and presented on the basis of methodologies other than in accordance with accounting principles generally accepted in the United States ("GAAP"), such as those identified in the Appendix. As a result, such information may not confo rm to SEC Regulations, including Regulation S - X, and may be adjusted and presented differently in filings with the SEC. Management believes these non - GAAP financial measures provide meanin gful additional information about the Company to assist management and investors in evaluating the Company's capital position and operating performance. Any non - GAAP financial measures used in this presentation are in addition to, and should not be considered superior to, or a substitute for, financial statements prepared in accordance with GAAP. Non - GAAP financial me asures are subject to significant inherent limitations. The non - GAAP measures presented herein may not be comparable to similar non - GAAP measures presented by other companies. Please refer to the definitions and calculations of these terms and reconciliations to the most directly comparable GAAP measures included in the Appendix of this presentation. Market Data This presentation includes market, industry and economic data which was obtained from various publicly available sources and oth er sources believed by the Company to be true. Although the Company believes it to be reliable, the Company has not independently verified any of the data from third - party sources refe rred to in this presentation or analyzed or verified the underlying reports relied upon or referred to by such sources, or ascertained the underlying economic and other assumptions relied upon by such sources. The Company believes that its market, industry, and economic data is accurate and that its estimates and assumptions are reasonable, but there can be no as sur ance as to the accuracy or completeness thereof.

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¹A credit rating is not a recommendation to buy, sell, or hold any securities of the Company and may be revised or withdrawn at any time. TERMS OF PROPOSED SENIOR NOTES OFFERING INTRODUCTION Issuer The Bancorp, Inc. Security Senior Unsecured Notes due 2030 Expected Rating BBB+ by Kroll Bond Rating Agency¹ Offering Size $200.0 Million Structure Fixed-Rate Issuance Type SEC Registered Use of Proceeds To (i) redeem or repay at maturity all $100.0 million outstanding aggregate principal amount of our 4.75% Senior Notes due August 15, 2025, including to pay any applicable redemption premium, (ii) fund our share repurchase program, and (iii) for general corporate purposes, which may include capital to support the growth of The Bancorp Bank, N.A. Joint Bookrunners \|

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OVERVIEW OF TODAY'S PRESENTERS AND EXPERIENCED MANAGEMENT TEAM • CEO of Modern Bank N.A. • CEO of Citigroup Private Bank • Managing Director at Bank of America Securities Damian Kozlowski Chief Executive Officer Years at The Bancorp – 9 Years of Banking Experience – 28 CEO Ryan Harris EVP, Head of Fintech Solutions Years at The Bancorp – 26 Years of Banking Experience – 26 Erika Caesar EVP, General Counsel Years at The Bancorp – 7 Years of Banking Experience – 7 Jennifer Terry EVP, Chief Human Resources Officer Years at The Bancorp – 7 Years of Banking Experience – 13 Jeff Nager EVP, Head of Commercial Lending Years at The Bancorp – 9 Years of Banking Experience – 30 Maria Wainwright EVP, Chief Marketing Officer Years at The Bancorp – 12 Years of Banking Experience – 24 Greg Garry EVP, Chief Operating Officer Years at The Bancorp – 10 Years of Banking Experience – 18 Denotes today's presenters John Leto EVP, Head of Institutional Banking Years at The Bancorp – 9 Years of Banking Experience – 30 Mark Connolly EVP, Head of Credit Markets Years at The Bancorp – 9 Years of Banking Experience – 27 Olek DeRowe EVP, Head of Commercial Real Estate Years at The Bancorp – 10 Years of Banking Experience – 10 GOVERNANCE Marty Egan Interim CFO, Chief Accounting Officer Years at The Bancorp – 25 Years of Banking Experience – 31

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5 FINANCIAL PERFORMANCE WE HAVE BUILT A SPECIALIZED, BRANCHLESS BANKING PLATFORM CENTERED ON A WELL POSITIONED PAYMENTS BUSINESS INVESTMENT HIGHLIGHTS Note: Reflects information for the quarter ended June 30, 2025 unless otherwise specified 1 Market data as of August 12, 2025; stock price of $67.17; shares outstanding as of June 30, 2025 2 Annualized for the three months ended June 30, 2025 3 Calculated from TBV at June 30, 2025 relative to June 30, 2020 4 Nonperforming assets include nonaccrual loans, loans delinquent 90 days and accruing, and other real estate owned 5 Per Nilson Ratings and based on Gross Dollar Volume (total dollars spent on cards) 6 Holding company ratios 7 Non - GAAP financial measure, see our reconciliation of non - GAAP financial measures to their most directly comparable GAAP financial measures in the Appendix FINANCIAL HIGHLIGHTS: (Quarter ended 6/30/2025) Total Assets: $8.8B Gross Loans: $6.7B Total Deposits: $7.8B ROAA 2 : 2.64% ROAE 2 : 28.4% NIM 2 : 4.44% Cost of Deposits 2 : 2.18% TBV 5 - yr CAGR 3 : 10.1% NPAs 4 /Assets: 1.45% NCOs/Avg. Loans 2 : 2.30% CAPITAL RATIOS 6 : (Quarter ended 6/30/2025) Shareholders' Equity / Total Assets: 9.7% TCE/TA 7 : 9.7% Leverage Ratio: 9.4% CET1 Ratio: 14.4% Total RBC Ratio: 15.5% COMPANY OVERVIEW NASDAQ: TBBK Headquarters: Wilmington, DE Subsidiary: The Bancorp Bank IPO: 2004 Market Cap 1 : $3,107M Employees (6/30/2025) : 783 Branches: Branchless Operational Locations: Wilmington, DE; Sioux Falls, SD; Orlando, FL; New York, NY 1 # PREPAID CARD ISSUING BANK 5 NEW LEADERSHIP IN 2016 BALANCE SHEET TRANSFORMED WITH LOWER RISK ASSETS 6 # DEBIT CARD ISSUING BANK 5

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6 FINANCIAL PERFORMANCE DELIVERING STRONG FINANCIAL PERFORMANCE 1 Excludes consumer fintech credit enhancement income and as a result is a Non - GAAP financial measure. See our reconciliation of n on - GAAP financial measures to their most directly comparable GAAP financial measures in the Appendix. SUSTAINED PERFORMANCE The Bancorp is continuing to deliver high quality financial performance Q2 YTD 2025 2024 2023 2022 29% 27% 26% 19% ROAE PROFITABILITY 2.6% 2.7% 2.6% 1.8% ROAA 41% 40% 41% 48% EFFICIENCY RATIO 1 SCALABLE PLATFORM KEY FINANCIAL METRICS Platform delivering operating leverage Capitalized on interest rate environment

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7 THE BANCORP CORE BUSINESS MODEL FINTECH SOLUTIONS GENERATES NON - INTEREST INCOME AND ATTRACTS STABLE, LOWER - COST DEPOSITS DEPLOYED INTO ASSETS IN SPECIALIZED MARKETS THE BANCORP BUSINESS MODEL

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8 FINTECH PARTNER BANK FINTECH LEADERSHIP PAYMENT NETWORKS FACILITATE payments between parties via the card networks. PROGRAM MANAGERS CLIENT FACING platforms deliver highly scalable banking solutions to customers with emphasis on customer acquisition and technology. REGULATORS OVERSIGHT of domestic banking and payments activities. PROCESSORS BACK - OFFICE support for program managers providing record keeping and core platform services. FINTECH ECOSYSTEM Enabling fintech companies by providing industry leading card issuing, payments facilitation and regulatory expertise to a diversified portfolio of clients

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FINTECH SOLUTIONS: DEPOSIT & FEE GENERATION

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10 PAYMENTS BUSINESS: STABLE, LOWER COST DEPOSIT GENERATOR HIGHLIGHTS • Stable, lower - cost deposit base anchored by contractual, multi - year relationships in our Fintech Solutions business • Fintech Solutions growth driven by increased transactional volume due to electronic banking migration and the addition of new partners CONSISTENT DEPOSIT GROWTH FROM PAYMENTS BUSINESSES 1 Time deposits have rarely been used due to lower cost deposit growth. 2 As of period ended June 30, 2025. ¸ … ' „†‚ ¸ … ' ‰‡‡ ¸ ‡ ' €ƒ€ ¸ † ' †ˆ ¸ ‡ ' ‡„† ¸ ‡ ' ‡†† ¸ ‚ ' €€€ ¸ ƒ ' €€€ ¸ „ ' €€€ ¸ … ' €€€ ¸ † ' €€€ ¸ ‡ ' €€€ ¸ ˆ ' €€€ ¸ ‰ ' €€€ ‚€‚€ ‚€‚ ‚€‚‚ ‚€‚ƒ ‚€‚„ / ‚‚€‚… N^A_LA_L_p  UNJ\V_T 1AvV_TmA_L"a_Ny"Al\Np 3V^NNiamVpm TOTAL DEPOSITS BY PERIOD (MILLIONS) Cost of Deposits 0.10% 0.82% 2.32% 2.37% 2.18% % Total Balance ($M) Deposit Type 99% 7,706 Demand and Int. Checking 1% 60 Savings and Money Market 0% -- Time Deposits ¹ 100% $7,766 Total ² 0.25%

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11 FINTECH SOLUTIONS: FEE & DEPOSIT GENERATING ACTIVITIES ENABLING LEADING FINTECH COMPANIES DEBIT PROGRAM MANAGERS (CHALLENGER BANKS) PREPAID/STORED VALUE PROGRAM MANAGERS • Provides physical and virtual card issuing • Maintains deposit balances on cards • Facilitates payments into the card networks as the sponsoring bank • Established risk and compliance function is highly scalable #6 Debit Issuing Bank 2024 2 #1 Prepaid Issuing Bank 2024 2 • Government • Employer Benefits • Corporate Disbursements • Payroll • Gift % TOTAL REVENUE YTD Q2 2025 1 26 % GROSS DOLLAR VOLUME GROWTH Q2 2025 VS Q2 2024 18 % 1 Includes non - interest income from prepaid and debit card issuance plus ACH, card and other payments processing fees, and consume r credit fintech fees. 2 Nilson Report, April 2025.

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12 FINTECH SOLUTIONS : ESTABLISHED OPERATING PLATFORM SCALABLE PLATFORM ESTABLISHED OPERATING PLATFORM • Infrastructure in place to support significant growth • Long - term relationships with multiple processors enable efficient onboarding • Continued technology investments without changes to expense base REGULATORY EXPERTISE • Financial Crimes Risk Management program with deep experience across payments ecosystem • Customized risk and compliance tools specific to the Fintech Industry OTHER PAYMENTS OFFERINGS • Rapid Funds instant payment transfer product • Potential to capitalize on credit - linked payments opportunities • Additional payments services include ACH processing for third parties INNOVATIVE SOLUTIONS Our platform supports a wide variety of strategic fintech partners through our established processor relationships, regulatory expertise, and a suite of other payments products

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13 FINTECH SOLUTIONS : STABLE, LOWER - COST DEPOSIT GENERATOR STABLE DEPOSITS & SIGNIFICANT BALANCE SHEET LIQUIDITY STRONG POSITIONING Our deposit base is primarily comprised of granular, small balance, FDIC insured accounts and we maintain significant borrowing capacity on our credit lines ESTIMATED INSURED VS OTHER UNINSURED DEPOSITS June 30, 2025 94% Insured 3% Low balance accounts 3% Other uninsured 100% Total deposits SUMMARY OF CREDIT LINES AVAILABLE June 30, 2025 (Dollars in millions) 2,050 $ Federal Reserve Bank 1,028 Federal Home Loan Bank 3,078 $ Total lines of credit available 94% INSURED DEPOSITS Primarily consist of low balance accounts¹ 1 Comprised of small balances, such as anonymous gift cards and corporate incentive cards for which there is no identified depo sit or.

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LOANS, LEASES & SUPPORTING COLLATERAL

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15 LOANS & LEASES STRATEGIC OUTLOOK Optimize balance sheet and continue to capitalize on fintech lending opportunities KEY CONSIDERATIONS FOR LENDING GROWTH MANAGE CREDIT RISK TO DESIRED LEVELS OPTIMIZE NET INTEREST MARGIN AND MONITOR INTEREST RATE SENSITIVITY EXPAND FINTECH LENDING WITH KEY CLIENTS MAINTAIN FLEXIBILITY AS WE APPROACH $10B TOTAL ASSETS Building an asset mix that drives earnings and profitability while maintaining desired credit and interest rate risk characteristics

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16 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% 2020 2021 2022 2023 2024 2025Q2 SBLOC/IBLOC/ Advisor Financing Real Estate Bridge Lending Yield on Loans 4.34% 4.19% 4.86% 7.62% 7.74% 6.84% Total Loans ($B, Incl. HFS) 4.5 5.1 6.1 5.7 6.3 6.7 YoY Growth (%) 48.5% 15.1% 18.3% (6.3%) 11.3% 14.5% LOANS & LEASES 6.7 B $ TOTAL LOANS as of June 30, 2025 FOCUSED ON LOWER RISK LENDING ACTIVITIES BALANCE SHEET SHIFT INTO LOWER RISK LENDING BUSINESSES HISTORICAL LOAN COMPOSITION (%) % Total Balance ($M) Loan Type 33% 2,249 Real Estate Bridge Lending 28% 1,873 SBLOC / IBLOC / Advisor Fin. 16% 1,034 Small Business Lending 10% 698 Direct Lease Financing 10% 681 Consumer Fintech 3% 170 Other 100% $6,705 Total Principal Balance Small Business HELOC/Consumer/ Other Leasing Consumer Fintech

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17 LOANS & LEASES LOAN PORTFOLIO OVERVIEW LOAN COLLATERAL VALUES SUPPORTED BY: A. Comprised of workforce apartment buildings in carefully selected areas B. SBLOC loans are backed by marketable securities with nominal credit losses C. IBLOC loans are backed by the cash value of life insurance policies with nominal credit losses D. Portion of small business loans fully guaranteed by the U.S. government E. 50% - 60% loan to value ("LTV") ratios at origination F. Recourse to vehicles G. Consists of secured credit cards & other short - term extensions of credit % OF TOTAL PORTFOLIO 06/30/2025 PRINCIPAL BALANCE ($ MILLIONS) BALANCE SHEET CATEGORY BUSINESS LINE 33% $2,209 Multifamily - commercial real estate (A) Real Estate Bridge Lending <1% 19 Hospitality - commercial real estate <1% 12 Retail - commercial real estate <1% 9 Other 33% 2,249 Total 16% 1,087 Securities - backed lines of credit (SBLOC) (B) Institutional Banking 8% 514 Insurance - backed lines of credit (IBLOC) (C) 4% 272 Advisor Financing 28% 1,873 Total 6% 397 U.S. government guaranteed portion of SBA loans (D) Small Business Lending 6% 382 Commercial mortgage SBA (E) 2% 117 Non - guaranteed portion of U.S. govn't guaranteed 7(a) loans 2% 116 Non - SBA small business loans <1% 18 Construction SBA <1% 4 Other 16% 1,034 Total 10% 698 Leasing (F) Commercial Fleet Leasing 10% 681 Consumer fintech (G) Fintech Solutions Group 3% 170 Other Other 100% $6,705 Total Principal¹ 1 Total principal balance.

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18 SPECIALIZED LENDING SPECIALIZED LENDING BUSINESS LINES LENDING BUSINESSES Core lending businesses are comprised of our specialized lending activities Institutional Banking $1.9B Emphasize core business lines and add related products and enter adjacent markets Remain positioned to capitalize on credit sponsorship opportunities Maintain balance sheet flexibility as we approach $10B in total assets Real Estate Bridge Lending $2.2B Small Business $1.0B Leasing $0.7B CORE LENDING BUSINESSES AS OF Q2 2025 TOTAL $6.5 B ¹ Established Operating Platform Scalable technology, operations and sales platforms across lending business to support sustained growth STRATEGIC OUTLOOK Consumer Fintech Lending $0.7B 1 Excludes $170 million of loans categorized as "Other".

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19 LOANS & LEASES: REAL ESTATE BRIDGE LENDING COMMERCIAL REAL ESTATE BRIDGE LENDING BUSINESS OVERVIEW: • Resumed floating rate bridge lending business in Q3 2021 • Lending focus on workforce apartment buildings in carefully selected markets Real Estate Bridge Lending • Vast majority of loans are apartment buildings including all the top 25 exposures • Loans originated prior to Q3 2021 will continue to be accounted for at fair value • Loans originated in Q3 2021 and after will be held for investment and use the Current Expected Credit Loss (CECL) methodology PORTFOLIO ATTRIBUTES 1 In addition to "as is" origination date appraisals, on which the weighted average origination date LTVs are based, third - party a ppraisers also estimated "as stabilized" values, which represents additional potential collateral value as rehabilitation progresses, and units are released at stabilized rental rates, may provide even greater pr ote ction. % TOTAL WEIGHTED AVG INTEREST RATE ORIGINATION DATE LTV 1 BALANCE # LOANS TYPE 98% 8.5% 69% $2,209 179 Multifamily (apartments) <1% 9.8% 66% 19 1 Hospitality (hotels and lodging) <1% 8.2% 72% 12 2 Retail <1% 5.0% 71% 9 2 Other 100% 8.5% 70% $2,249 184 Total COMMERCIAL REAL ESTATE LOANS BY TYPE ($MILLIONS) 06/30/2025

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20 LOANS & LEASES: INSTITUTIONAL BANKING INSTITUTIONAL BANKING BUSINESS OVERVIEW: • Automated loan application platform, Talea, provides industry - leading speed and delivery • Securities - backed lines of credit provide fast and flexible liquidity for investment portfolios • Insurance - backed lines of credit provide fast and flexible borrowing against the cash value of life insurance • Advisor Finance product provides capital to transitioning financial advisors to facilitate M&A, debt restructuring, and the development of succession plans • Deposit accounts for wealth management clients • Nominal historical credit losses STRATEGIC OUTLOOK: • Regain momentum across SBLOC, IBLOC and Advisor Finance products • Evaluate new lending opportunities in adjacent markets • Market dynamics support business model: - Advisors shifting from large broker/dealers to independent platforms - Sector shift to fee - based accounts - Emergence of new wealth management providers LENDING AND BANKING SERVICES FOR WEALTH MANAGERS The Bancorp's business model allows us to build banking solutions to "spec" without competing directly with our partner firms. We do not have any associated asset managers, proprietary advisory programs, or related programs. Our singular focus is to help our partner firms stay competitive in the marketplace and to grow and retain assets ALWAYS A PARTNER, NEVER A COMPETITOR® $1.9 B 6/30/2025 PORTFOLIO SIZE 6.2 % 06/30/2025 YIELD

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21 LOANS & LEASES: INSTITUTIONAL BANKING PRIMARILY COMPRISED OF SECURITIES & CASH VALUE LIFE INSURANCE LENDING SECURITIES - BACKED LINES OF CREDIT • Nominal historical credit losses • Underwriting standards of generally 50% to equities and 80% or more to fixed income securities INSURANCE - BACKED LINES OF CREDIT • Nominal historical credit losses • Loans backed by the cash value of insurance policies PORTFOLIO ATTRIBUTES % OF PORTFOLIO PRINCIPAL BALANCE LOAN TYPE 58% $1,087 Securities - backed lines of credit (SBLOC) 27% 514 Insurance - backed lines of credit (IBLOC) 15% 272 Advisor Financing 100% $1,873 Total INSTITUTIONAL BANKING LOANS ($MILLIONS) 06/30/2025 % PRINCIPAL TO COLLATERAL PRINCIPAL BALANCE 34% $10 17% 9 84% 8 12% 8 47% 8 19% 8 31% 7 20% 7 4% 6 38% 6 31% $77 Total TOP 10 SBLOC LOANS ($MILLIONS) 06/30/2025

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22 LOANS & LEASES: SMALL BUSINESS LENDING SMALL BUSINESS LENDING BUSINESS OVERVIEW: • Established a distinct platform within the fragmented SBA market - National portfolio approach allows pricing and client flexibility - Solid credit performance demonstrated over time - Client segment strategy tailored by market STRATEGIC OUTLOOK: • Continue delivering growth within existing small business lending platform while entering new verticals and growing the SBAlliance® • SBAlliance® program provides lending support to banks and financial institutions who need SBA lending capabilities through products such as: - Wholesale loan purchases - Vertical focus with expansion of funeral home lending program SBA AND OTHER SMALL BUSINESS LENDING $1,034 M 6/30/2025 PORTFOLIO SIZE 7.3 % 06/30/2025 YIELD ~$700 K AVERAGE 7(a) LOAN SIZE

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23 LOANS & LEASES: STRONG COLLATERAL & GOVERNMENT GUARANTEES SMALL BUSINESS LENDING 1 Excludes the government guaranteed portion of SBA 7(a) loans and PPP loans. TYPE DISTRIBUTION • Diverse product mix • Commercial mortgage and construction are generally originated with 50% - 60% LTV's GEOGRAPHIC DISTRIBUTION • Diverse geographic mix • Largest concentration in California representing 24% of total as of June 30, 2025 PORTFOLIO ATTRIBUTES SMALL BUSINESS LOANS BY TYPE 1 ($MILLIONS) 06/30/2025 SMALL BUSINESS LOANS BY STATE 1 ($MILLIONS) 06/30/2025 TOTAL SBL NON - REAL ESTATE SBL CONSTRUCTION SBL COMMERCIAL MORTGAGE STATE $153 $6 $6 $141 California 94 4 7 83 Florida 48 4 - 44 North Carolina 44 3 - 41 New York 39 6 4 29 Texas 38 7 - 31 New Jersey 32 13 - 19 Pennsylvania 30 2 3 25 Georgia 155 36 - 119 Other States $633 $81 $20 $532 Total TOTAL SBL NON - REAL ESTATE SBL CONSTRUCTION SBL COMMERCIAL MORTGAGE TYPE $88 $- $- $88 Hotels (except casino hotels) and motels 82 38 - 44 Funeral homes and funeral services 36 3 2 31 Full - service restaurants 28 3 - 25 Child day care services 22 - 11 11 Car washes 16 - - 16 Homes for the elderly 15 - - 15 Gasoline stations with convenience stores 15 - - 15 Outpatient mental health and substance abuse centers 13 - - 13 General line grocery merchant wholesalers 10 2 - 8 Fitness and recreational sports centers 10 1 - 9 Plumbing, heating, and air - conditioning companies 9 - - 9 Nursing care facilities 9 - - 9 Caterers 9 - - 9 Offices of lawyers 271 34 7 230 Other $633 $81 $20 $532 Total

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24 LOANS & LEASES: COMMERCIAL FLEET LEASING COMMERCIAL FLEET LEASING BUSINESS OVERVIEW: • Niche provider of vehicle leasing solutions - Focus on smaller fleets (less than 150 vehicles) - Direct lessor (The Bancorp Bank, N.A. sources opportunities directly and provides value - add services such as outfitting police cars) - Historical acquisitions of small leasing companies have contributed to growth • Mix of commercial (~80%), government agencies and educational institutions (~20%) as of June 30, 2025 STRATEGIC OUTLOOK: • Continue enhancing platform and growing balances - Enhanced sales process and support functions - Pursuing technology enhancements to scale business with efficiency • Constantly evaluating organic and inorganic growth opportunities in the vehicle space FLEET LEASING SOLUTIONS $698 M 6/30/2025 PORTFOLIO SIZE 8.2 % 06/30/2025 YIELD

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25 LOANS & LEASES: COMMERCIAL FLEET LEASING PORTFOLIO COMMERCIAL FLEET LEASING • Largest concentration is construction and government sectors • Of the $698M total portfolio, $644M are vehicle leases with the remaining $54M comprised of equipment leases PORTFOLIO ATTRIBUTES TOTAL BALANCE STATE 17% $121 Florida 9% 59 New York 7% 51 Utah 7% 49 Connecticut 6% 45 California 6% 43 Pennsylvania 5% 38 North Carolina 5% 36 Maryland 5% 34 New Jersey 3% 22 Texas 2% 16 Idaho 2% 15 Georgia 2% 14 Washington 2% 13 Alabama 2% 13 Ohio 20% 129 Other states 100% $698 Total TOTAL BALANCE TYPE 18% $127 Construction 18% 127 Government agencies and public institutions 14% 98 Real estate and rental and leasing 13% 92 Waste management and remediation services 4% 29 Health care and social assistance 4% 25 Other services (except public administration) 3% 23 Professional, scientific, and technical services 3% 18 Wholesale trade 2% 16 General freight trucking 2% 12 Transit and other transportation 2% 12 Finance and insurance 2% 11 Arts, entertainment, and recreation 15% 108 Other and non - classified 100% $698 Total DIRECT LEASE FINANCING BY STATE ($MILLIONS) 06/30/2025 DIRECT LEASE FINANCING BY TYPE ($MILLIONS) 06/30/2025

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FINANCIAL REVIEW

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27 FINANCIAL REVIEW: Q2 2025 FINANCIAL HIGHLIGHTS Q2 HIGHLIGHTS • Return on average assets for the quarter was 2.64% • Net interest margin was 4.44% • Total loans and leases, including HFS, increased 14% year - over - year • Prepaid, debit card and related fees increased 5% year - over - year to $26.1 million • Small business loans increased 11% year - over - year to $1.05 billion • Consumer fintech loans increased 19% quarter - over - quarter • The average rate on the $8.2 billion of average deposits and interest - bearing liabilities in the quarter was 2.23% Q2 2025 Financial Highlights ROAA² 2.64% Net Income $59.8 million Loans $6.7 billion 14.5% YoY Growth CET1 Ratio 14% ROAE² 28.4% Deposits $7.8 billion 8.5% YoY Growth Total RBC Ratio 15% ($ in thousands expect for per share data) Q2 2025 Q1 2025 Q4 2024 Earnings & Profitability: Net Interest Income $97,492 $91,743 $94,296 Prepaid, debit card and related fees $26,113 $25,714 $24,465 ACH, card and other payment processing fees $5,562 $5,132 $4,740 Other $52,068 $52,796 $36,097 Non-Interest Income $83,743 $83,642 $65,302 Net Income $59,821 $57,173 $55,908 Diluted EPS $1.27 $1.19 $1.15 Net Interest Margin² 4.44% 4.07% 4.55% Efficiency Ratio¹ 41% 41% 40% ROAA² 2.64% 2.49% 2.60% ROAE² 28.4% 28.6% 27.7% Balance Sheet & Capital: Total Loans (HFI & HFS) $6,705,432 $6,591,730 $6,336,743 Total Deposits $7,765,935 $8,364,582 $7,746,046 Shareholders' Equity / Total Assets 9.7% 8.8% 9.0% TCE/TA¹ 9.7% 8.8% 9.0% TBVPS $18.57 $17.64 $16.67 CRE / Total Risk-Based Capital³ 241% 260% 257% Asset Quality: Provision for Credit Losses $44,363 $46,853 $31,398 Net (Recoveries) Charge-Offs $37,831 $39,098 $18,805 NCOs / Avg. Loans² 2.30% 2.45% 1.21% NPAs / Total Assets 1.45% 1.07% 1.14% 1 Non - GAAP financial measure, see our reconciliation of non - GAAP financial measures to their most directly comparable GAAP financi al measures in the Appendix. Efficiency ratio excludes consumer fintech credit enhancement income. 2 Represents annualized metric. 3 Reflects total risk - based capital of The Bancorp Bank, N.A. For the quarter ended June 30, 2025: CRE / Total RBC³ 241%

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28 HIGHLIGHTS • Since rate hikes peaked, strategic focus was shifted to origination of fixed rate loans across business lines FINANCIAL REVIEW: INTEREST RATE SENSITIVITY 4.4% NIM IN Q2 AND CONSISTENTLY STRONG MARGINS THROUGHOUT VARIOUS RATE ENVIRONMENTS Real Estate Bridge Lending $2,249 ~$1.5B is fixed rate, floating rate portion has an interest rate floor component Institutional Banking 2 $1,873 Majority of loan yields are floating rate, advisor financing is primarily fixed rate Small Business ³ $1,034 ~66% of portfolio reprices in 1 year or greater Q2 Balance 1 ($ millions) Total Deposits 1 $8,057 Adjusts to a portion of rate changes in line with partner contracts Leasing $698 ~84% of portfolio reprices in 1 year or greater Core Lending Businesses Total 5 $6,535 Core Lending businesses account for over 97% of the total $6,705 loans Rate Sensitivity 1 Loans are as of June 30, 2025 and deposits are average balance for Q2 2025. 2 Institutional Banking substantially comprised of securities backed loans and insurance backed loans, with advisor financing b ala nce of $272 million at June 30th, 2025. 3 Includes Small Business Loans held at fair value comprised of 7(a) Program Loans. 4 Fees on the majority of consumer fintech loan balances are recorded as non - interest income, which impacts both net interest inco me and net interest margin. 5 Excludes $170 million of loans categorized as "Other". Consumer F intech 4 $681 Pricing floats to effective fed funds and spread increases in down - rate environment

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29 FINANCIAL REVIEW: INTEREST RATE SENSITIVITY CONSERVATIVE AND WELL - POSITIONED INVESTMENT PORTFOLIO a^^NlJVA]" 1 0NmVLN_pVA]" 1 mmNp ¥ IAJ\NL mNJqlVpVNm 3AxAI]NmpApN A_Lia]  4  1  avNl_^N_p ATN_Jy "% 3Ax ¥ NxN^ip mpApNA_Lia]  AVAILABLE FOR SALE SECURITIES 06/30/2025 $1.5B Total % Total Fair Value ($M) Type 49.3 $731.1 Commercial MBS 28.3 419.1 Residential MBS 16.4 242.5 Asset - backed securities 2.0 29.9 Taxable state and pol. 1.8 27.0 U.S. Government agency 1.5 21.8 CMO 0.7 10.1 Tax - exempt state and pol. 100% $1,481.5 Total HIGHLIGHTS • Investment portfolio is 100% available - for - sale with an unrealized gain of $2.1 million as of June 30, 2025 • In April 2024, the Bancorp strategically purchased ~$900 million of fixed rate MBS with a weighted average yield of ~5.11% and a weighted average life of ~8 years

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30 FINANCIAL REVIEW: EARNINGS AND PROFITABILITY REVENUE GROWTH HAS EXCEEDED EXPENSE GROWTH SINCE 2022 1 Revenue includes net interest income and non - interest income. Excludes consumer fintech loan credit enhancement income. Please s ee Appendix for reconciliation. NON - INTEREST EXPENSE $ Millions REVENUE 1 $ Millions HIGHLIGHTS • Revenue increases reflected normalized interest rate environment and growth in fintech revenues $0 $25 $50 $75 $100 $125 $150 $175 $200 $225 $250 2022 2023 2024 Q2 YTD 2024 Q2 YTD 2025 $0 $50 $100 $150 $200 $250 $300 $350 $400 $450 $500 $550 2022 2023 2024 Q2 YTD 2024 Q2 YTD 2025

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31 FINANCIAL REVIEW: EARNINGS AND PROFITABILITY HISTORICAL PERFORMANCE AND LONG - TERM TARGETS LONG - TERM TARGETS Q2 2025 2024 2023 2022 2021 2020 PERFORMANCE METRICS >40% 28.4% 27.2% 25.6% 19.3% 17.9% 15.1% ROAE¹ >4.0% 2.64% 2.71% 2.59% 1.81% 1.68% 1.34% ROAA¹ $1.27 $4.29 $3.49 $2.27 $1.88 $1.37 Diluted EPS >10% 10.3% 10.4% 12.4% 10.7% 11.0% 9.1% The Bancorp Bank, N.A. Leverage Ratio >8% 9.7% 9.0% 10.5% 8.8% 9.5% 9.2% TCE / TA² <$10B $8.8B $8.7B $7.7B $7.9B $6.8B $6.3B Total Assets 41% 40% 41% 48% 53% 59% Efficiency Ratio² 1 Represents annualized metric. 2 Non - GAAP financial measure, see our reconciliation of non - GAAP financial measures to their most directly comparable GAAP financi al measures in the Appendix. Efficiency ratio excludes consumer fintech credit enhancement income.

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32 FINANCIAL REVIEW: HISTORICAL CAPITAL POSITION CAPITAL POSITION HIGHLIGHTS • Corporate governance requires periodic assessment of capital minimums • Capital planning includes stress testing for unexpected conditions and events Tier 1 RBC Ratio¹ Total RBC Ratio Tier 1 Leverage Ratio THE BANCORP, INC. CAPITAL RATIOS TCE / TA Shareholders' Equity / Total Assets 9.26% 9.53% 8.78% 10.48% 9.05% 9.73% 9.63% -- TCE / TA² 9.22% 9.50% 8.76% 10.46% 9.04% 9.72% 9.62% -- Tier 1 Leverage Ratio 9.20% 10.40% 9.63% 11.19% 9.41% 9.40% 9.30% 5.00% Tier 1 Risk-based Capital Ratio¹ 14.43% 14.72% 13.40% 15.66% 13.85% 14.42% 14.37% 8.00% Total Risk-Based Capital 14.84% 15.13% 13.87% 16.23% 14.65% 15.45% 15.40% 10.00% CRE / Total Risk-Based Capital⁴ 291% 264% 265% 247% 257% 241% 241% -- € È ‚ È „ È † È ˆ È € È ‚ È „ È † È ˆ È ‚€‚€ ‚€‚ ‚€‚‚ ‚€‚ƒ ‚€‚„ / ‚‚€‚… -laal^A Œ Well - capitalized minimum 1 Common Equity Tier 1 to risk weighted assets is identical to Tier 1 risk - based ratio and has a 6.5% well capitalized minimum. 2 Non - GAAP financial measure, see our reconciliation of non - GAAP financial measures to their most directly comparable GAAP financi al measures in the Appendix. 3 Estimated pro forma for issuance of $200 million senior debt and redemption of $100 million of senior debt maturing in 2025. 4 Reflects total risk - based capital of The Bancorp Bank, N.A. Shareholders' Equity / Total Assets

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33 $0 $5 $10 $15 $20 $25 $30 $35 $40 $45 $50 $55 $60 2020 2021 2022 2023 2024 Q2 2025 FINANCIAL REVIEW: LOAN LOSS RESERVE ALLOWANCE FOR CREDIT LOSSES PRIMARILY REFLECTS OUR CHARGE - OFF HISTORY HIGHLIGHTS • The increase in allowance driven by Consumer Fintech is entirely offset by credit enhancement recognized in non - interest income • Annualized NCOs / Avg. Loans excluding Consumer Fintech charge - offs was just 0.08% for the annualized quarter ended June 30, 2025 • Traditional lending segments continue to record minimal charge - offs • There have been no historical losses in the REBL portfolio ALLOWANCE FOR CREDIT LOSSES ($ MILLIONS) Reserves / Loans HFI 0.61% 0.48% 0.41% 0.51% 0.73% 0.91% NPAs / Assets 0.20% 0.33% 0.50% 0.39% 1.14% 1.45% Annualized NCOs / Avg. Loans 0.07% 0.03% 0.03% 0.07% 0.40% 2.30% Annualized NCOs / Avg. Loans excl. Consumer Fintech¹ 0.08% 0.08% Small Business HELOC/Consumer/Other SBLOC/IBLOC/Advisor Financing Leasing Real Estate Bridge Lending Consumer Fintech $16.1 $17.8 $22.4 $27.4 $44.9 $59.4 Allowance excl. consumer fintech $32.4 million¹ Allowance excl. consumer fintech $31.9 million¹ 1 Excludes $12.9M and $27.0M in allowance and $17.7M and $36.4M in net charge - offs associated with Consumer Fintech lending for 20 24 and 2025Q2, respectively.

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APPENDIX

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35 APPENDIX DOUBLE LEVERAGE & INTEREST COVERAGE Year Ending December 31, Year-to-Date Offering PF for $200M ($ in thousands, except per share amounts) 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025 Q2 Adjustments Debt Raise² Double Leverage Ratios Total Investment in Subsidiaries $575,293 $686,248 $776,199 $893,328 $871,388 $942,701 – $942,701 Consolidated Equity 581,164 652,454 694,031 807,281 789,783 860,266 – 860,266 Double Leverage Ratio 99.0% 105.2% 111.8% 110.7% 110.3% 109.6% 109.6% Interest Coverage Ratios Total Deposit Interest $13,281 $5,623 $51,136 $148,529 $164,372 $90,338 $90,338 Borrowings & Other Interest 2,635 5,616 8,318 6,926 10,979 3,377 4,625¹ 8,002 Total Interest Expense $15,916 $11,239 $59,454 $155,455 $175,351 $93,715 $4,625¹ $98,340 Pre-Tax Income $108,284 $144,165 $177,914 $256,774 $292,156 $154,887 ($4,625)¹ $150,262 Interest Coverage (Including Deposit Expense) 7.8x 13.8x 4.0x 2.7x 2.7x 2.7x 2.5x Interest Coverage (Excluding Deposit Expense) 42.1x 26.7x 22.4x 38.1x 27.6x 46.9x 19.8x ¹Year - to - date interest expense increase after the issuance of $200M senior notes at an illustrative yield of 7.00% and the redem ption of $100.0M outstanding 4.75% senior notes due August 2025. ² Assumes net proceeds after redemption of the senior notes due 2025 are retained at the holding company; All offering assumpti ons are for illustrative purposes only.

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36 HISTORICAL BALANCE SHEET APPENDIX Quarter Ended ($ in thousands) 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025 Q2 Assets: Total Cash and Cash Equivalents 345,515 601,784 888,189 1,038,090 570,123 340,265 Total Securities 1,206,164 953,709 766,016 747,534 1,502,860 1,481,500 Loans & Leases HFS 1,810,812 1,388,416 589,143 332,766 223,115 185,476 Loans & Leases HFI 2,652,323 3,747,224 5,486,853 5,361,139 6,113,628 6,535,432 Loan Loss Reserve (16,082) (17,806) (22,374) (27,378) (44,853) (59,393) Net Loans & Leases HFI 2,636,241 3,729,418 5,464,479 5,333,761 6,068,775 6,476,039 Total OREO - 18,873 21,210 16,949 62,025 66,054 Total Intangible Assets 2,845 2,447 2,049 1,651 1,254 1,055 Total Other Assets 275,264 148,592 171,914 234,944 299,391 288,842 Total Assets 6,276,841 6,843,239 7,903,000 7,705,695 8,727,543 8,839,231 Liabilities: Total Deposits 5,462,060 5,976,911 7,030,113 6,680,910 7,746,046 7,765,935 Senior Debt 98,314 98,682 99,050 95,859 96,214 96,391 Total Subordinated Debt 13,401 13,401 13,401 13,401 13,401 13,401 Other Long Term Borrowings 40,277 39,521 10,028 38,561 14,081 13,898 Total Other Liabilities 81,625 62,270 56,377 69,683 68,018 89,340 Total Liabilities 5,695,677 6,190,785 7,208,969 6,898,414 7,937,760 7,978,965 Shareholders Equity 581,164 652,454 694,031 807,281 789,783 860,266 Total Liabilities and Equity 6,276,841 6,843,239 7,903,000 7,705,695 8,727,543 8,839,231 Year Ending December 31,

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37 HISTORICAL INCOME STATEMENT APPENDIX Quarter Ended ($ in thousands) 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025 Q2 Interest and Fees on Loans 170,960 192,636 275,837 436,649 458,817 112,326 Interest and Dividends on Securities 37,937 28,764 25,696 39,231 66,449 22,496 Interest earning deposits 1,885 715 6,762 33,627 26,326 8,326 Total Interest Income 210,782 222,115 308,295 509,507 551,592 143,148 Deposits 13,281 5,623 51,136 148,529 164,372 43,963 Borrowings 198 49 2,542 778 4,889 203 Senior Debt 1,913 5,118 5,118 5,027 4,935 1,233 Subordinated Debt 524 449 658 1,121 1,155 257 Interest Expense 15,916 11,239 59,454 155,455 175,351 45,656 Net Interest Income 194,866 210,876 248,841 354,052 376,241 97,492 Provision for Credit Losses 6,352 3,110 7,108 18,330 38,374 44,363 Net Interest Income After Provision for Credit Losses 188,514 207,766 241,733 335,722 337,867 53,129 ACH, card and other payment processing fees 7,101 7,526 8,935 9,822 14,596 5,562 Prepaid, debit card and related fees 74,465 74,654 77,236 89,417 97,413 26,113 Consumer credit fintech fees -- -- -- -- 4,789 3,970 Other noninterest income 3,051 22,569 19,512 12,855 40,716 48,098 Non-interest Income 84,617 104,749 105,683 112,094 157,514 83,743 Compensation & Benefits 101,737 105,998 105,368 121,055 131,597 37,134 Software 14,028 15,659 16,211 17,349 17,913 5,144 Data processing expense 4,712 4,664 4,972 5,447 5,666 1,227 Other 44,370 42,029 42,951 47,191 48,049 13,718 Non-interest Expense 164,847 168,350 169,502 191,042 203,225 57,223 Income tax expense (benefit) 27,688 33,724 47,701 64,478 74,616 19,828 Income from discontinued operations, net of tax (512) 212 -- -- -- -- Net Income 80,084 110,653 130,213 192,296 217,540 59,821 Year Ending December 31,

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38 GAAP REVENUE & EFFICIENCY RATIO CALCULATIONS APPENDIX Quarter Ended YTD ($ in thousands) 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2024Q4 2025 Q1 2025 Q2 2024 Q2 2025 Q2 Net Interest Income 194,866 210,876 248,841 354,052 376,241 94,296 91,743 97,492 188,213 189,235 Non-interest Income 84,617 104,749 105,683 112,094 157,514 65,302 83,642 83,743 60,104 167,385 Less: Consumer fintech credit enhancement - - - - 30,651 30,651 45,868 43,233 0 89,101 Adjusted non-interest Income¹ 84,617 104,749 105,683 112,094 126,863 34,651 37,774 40,510 60,104 78,284 Total Revenue¹ 279,483 315,625 354,524 466,146 503,104 128,947 129,517 138,002 248,317 267,519 Non-interest Expense 164,847 168,350 169,502 191,042 203,225 51,812 53,294 57,223 98,158 110,517 Efficiency Ratio² 59% 53% 48% 41% 40% 40% 41% 41% 40% 41% Payments non-interest income (Fintech Solutions business line) ACH, card and other payment processing fees 7,101 7,526 8,935 9,822 14,596 4,740 5,132 5,562 5,964 10,694 Prepaid, debit card and related fees 74,465 74,654 77,236 89,417 97,413 24,465 25,714 26,113 49,041 51,827 Consumer credit fintech fees - - - - 4,789 3,049 3,600 3,970 140 7,570 Total Fintech Solutions noninterest income¹ 81,566 82,180 86,171 99,239 116,798 32,254 34,446 35,645 55,145 70,091 % of Total Revenue 22% 26% Year Ending December 31, 1 Excludes consumer fintech loan credit enhancement income. 2 The efficiency ratio is calculated by dividing GAAP total non - interest expense by the total of GAAP net interest income and non - GAAP adjusted non - interest income. This ratio compares revenues generated with the amount of expense required to generate such revenues and may be used as one measure of overall efficiency.

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39 OTHER NON - GAAP RECONCILIATIONS APPENDIX Quarter Ended Pro Forma¹ ($ in thousands) 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2024Q4 2025 Q1 2025 Q2 2025 Q2 Shareholders Equity 581,164 652,454 694,031 807,281 789,783 789,783 829,687 860,266 860,266 Less: Intangible Assets 2,845 2,447 2,049 1,651 1,254 1,254 1,154 1,055 1,055 Tangible Common Equity 578,319 650,007 691,982 805,630 788,529 788,529 828,533 859,211 859,211 Total Assets 6,276,841 6,843,239 7,903,000 7,705,695 8,727,543 8,727,543 9,385,727 8,839,231 8,935,881 Less: Intangible Assets 2,845 2,447 2,049 1,651 1,254 1,254 1,154 1,055 1,055 Tangible Assets 6,273,996 6,840,792 7,900,951 7,704,044 8,726,289 8,726,289 9,384,573 8,838,176 8,934,826 TCE / TA 9.22% 9.50% 8.76% 10.46% 9.04% 9.04% 8.83% 9.72% 9.62% Tangible Common Equity 578,319 650,007 691,982 805,630 788,529 788,529 828,533 859,211 Common Shares (000s) 57,551 57,371 55,690 53,203 47,311 47,311 46,980 46,263 TBVPS 10.05 11.33 12.43 15.14 16.67 16.67 17.64 18.57 Year Ending December 31, ¹Estimated pro forma for issuance of $200 million senior debt and redemption of $100 million of senior debt maturing in 2025.