WILMINGTON, DE — The Bancorp, Inc. (NASDAQ: TBBK) delivered robust first-quarter 2025 results with net income rising to $57.2 million, translating to $1.19 per diluted share, a 12% increase in earnings per share (EPS) compared to the same period in 2024. The company continued to demonstrate growth across key business units, fueled by strategic balance sheet management and the ongoing expansion of its fintech solutions.
“We earned $1.19 a share in the first quarter of 2025, or a 12% increase in EPS over the first quarter of 2024,” said Damian Kozlowski, CEO of The Bancorp. “While we had some pressure on revenue from rates, it was mitigated by our balance sheet strategy and the growth of deposits. Fintech Solutions continues to show significant momentum in both GDV (gross dollar volume, up 18% year-over-year) and fee growth (up 26% year-over-year).”
Key highlights for the quarter include a 17% year-over-year increase in loans to $6.38 billion and a 28% rise in average deposits to $8.31 billion. The company’s fintech segment posted strong results, with GDV on prepaid and debit cards reaching $44.65 billion, an 18% increase over the prior year, and total payment fees advancing 13% to $30.8 million.
The Bancorp’s return on assets remained solid at 2.5%, while return on equity improved to 29%. Book value per share climbed 13% to $17.66, reflecting the strength of its capital management initiatives, which included repurchasing 684,445 shares at an average cost of $54.79 during the quarter.
Despite a challenging rate environment, the institution maintained a stable risk profile within its core lending portfolios. Consumer and real estate bridge loans, as well as secured credit lines, continued to bolster performance. CEO Damian Kozlowski reinforced the company’s goal, stating, “We are confirming guidance of $5.25 a share for 2025. EPS guidance does not include the impact of $150 million of authorized stock buybacks in 2025.”
Looking ahead, The Bancorp is focused on leveraging fintech growth, prudent capital management, and its diversified revenue streams to deliver on its targets and enhance shareholder value throughout the year.
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