WILMINGTON, DE — The Bancorp, Inc. (NASDAQ: TBBK) reported first-quarter 2026 net income of $60.1 million, or $1.41 per diluted share, reflecting an 18% increase from the same period in 2025.
Return on assets was 2.57% and return on equity was 35.1%, both up from the prior year. Gross dollar volume on prepaid, debit, and credit cards totaled $52.51 billion, an 18% increase year over year.
Total loans reached $7.75 billion at March 31, 2026, up 22% from a year earlier and 9% from the previous quarter. Growth was driven primarily by fintech loans, which rose to $1.65 billion and represented 20.9% of the loan portfolio.
Average deposits were $8.32 billion, up 9% from the fourth quarter of 2025 and flat compared to the prior year. The average interest rate on deposits declined to 1.70%.
Net interest income was $88.8 million, down from $91.7 million in the first quarter of 2025, while net interest margin declined to 3.87% from 4.07%.
Non-interest income totaled $72.5 million, accounting for 45.0% of total revenue. Excluding credit enhancement income, non-interest income rose to $43.7 million, driven by higher fintech-related fees.
Provision for credit losses decreased to $27.6 million, compared to $46.9 million a year earlier, reflecting improved performance in fintech and leasing portfolios.
Net charge-offs declined to $30.7 million from $39.1 million in the prior-year quarter. Criticized assets totaled $163.1 million, down 16% from the previous quarter.
The company reported total liquidity supported by $8.32 billion in deposits and access to $2.98 billion in additional borrowing capacity.
During the quarter, The Bancorp repurchased $50.0 million of its common stock, representing 843,061 shares, or approximately 2% of outstanding shares.
The company maintained capital levels above regulatory requirements, with Tier 1 capital to risk-weighted assets of 14.06% for the bank.
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