WILMINGTON, DE — The Bancorp, Inc. (NASDAQ: TBBK) retained its investment-grade credit ratings from Kroll Bond Rating Agency, with KBRA citing the Wilmington-based company’s fee income, profitability, funding profile and position in banking-as-a-service while maintaining a Stable outlook on its long-term ratings.
KBRA affirmed The Bancorp’s BBB+ senior unsecured debt rating, BBB subordinated debt rating and K2 short-term debt rating.
The company’s wholly owned subsidiary, The Bancorp Bank, N.A., retained A- ratings for deposits and senior unsecured debt, a BBB+ subordinated debt rating and K2 ratings for short-term deposits and debt.
The ratings assessment comes as The Bancorp continues to generate a significant portion of its business from payments and financial-technology partnerships. KBRA identified the bank as the largest prepaid and debit card issuer by transaction volume and cited its established position in the banking-as-a-service market.
KBRA also pointed to earnings and revenue performance. The Bancorp’s non-interest income, excluding fintech loan credit enhancement, increased 16% year over year during the first half of 2026, while fee income represented approximately 1.9% of average assets.
Return on average assets has remained at or above 2.5% since 2023, according to the ratings agency.
Funding was another factor supporting the ratings. KBRA cited a total cost of funds of 1.86% during the first half of 2026 and characterized the bank’s deposit base as granular and durable.
The agency also noted The Bancorp’s management of partnerships with established companies under long-term contracts, with those relationships generally distributed across multiple business lines.
Dominic C. Canuso, The Bancorp’s chief financial officer, characterized the ratings affirmation as supporting the company’s financial performance and strategic position as it executes its APEX 2030 strategy.
“This recognition reinforces the strength of our business model and the disciplined progress we continue to make in executing our APEX 2030 strategy,” Canuso stated.
KBRA’s ratings and analysis represent the agency’s independent opinions and are not statements of fact or investment recommendations.
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