The Bancorp Expands Sioux Falls Presence with New Office at Cherapa Place
October 26 2021 - 11:43AM
Business Wire
The Company will serve as the anchor tenant of
the new building to be completed in 2023
The Bancorp, Inc. (“The Bancorp”) (Nasdaq: TBBK) and its
subsidiary The Bancorp Bank, announced its plans to expand its
office space and be the anchor office tenant of the expanding
Cherapa Place development on the east bank of the Big Sioux River
in downtown Sioux Falls, South Dakota. The Bancorp will initially
occupy 50,000 square feet across the top three office floors in the
new 10-story mixed-use building at Cherapa Place which will feature
ground-level retail, seven stories of Class A office space, two
floors of upscale condos, and conference space for the development.
Yesterday, executives from the Company participated in the
groundbreaking ceremony along with members from the Sioux Falls
Development Foundation, Cherapa owner Pendar Properties, Journey
Construction, and architecture firm ISG. This project will further
extend development of the east bank of the Big Sioux River and is
scheduled to be completed in 2023.
“Having grown up in the Sioux Falls area, I have seen the impact
local companies can have on the surrounding community and I am
incredibly proud to see The Bancorp invest in the growth of Sioux
Falls,” shared Gregor Garry, Chief Operating Officer. “With The
Bancorp Building at Cherapa Place, we will be able to continue to
attract and hire high quality, high paying roles within the
community.”
The Company’s early involvement in the new building is a result
of the continued growth within its Fintech Solutions business unit,
which focuses on serving the unique needs of non-bank financial
service companies. The Bancorp Sioux Falls office is currently
located within the Heather Ridge office complex near 69th and
Western Avenue. The new location will allow The Bancorp to expand
its workforce presence in Sioux Falls and offer world-class office
space and amenities to its current and future employees. ISG has
been retained by The Bancorp for the development of its space.
“Sioux Falls has been the home of our Fintech Solutions business
unit since 2002, and our decision to materially expand our Sioux
Falls office footprint demonstrates an enhanced level of corporate
commitment to the region and our employees,” said Ryan Harris,
Executive Vice President, Head of Fintech Solutions. “While some
local companies are choosing to de-emphasize their employee
footprint in Sioux Falls in favor of a more remote, de-centralized
workforce, we are proud to continue to create new opportunities
right here in Sioux Falls. Being headquartered at Cherapa Place
will enhance the experience for those employees for years to
come.”
For over 20 years, The Bancorp has been an essential partner by
providing banking solutions powered by cutting-edge technology
through its Fintech Solutions division, Institutional Banking, and
Commercial Lending businesses. The Bancorp is recognized as the
largest issuer of Visa and MasterCard-branded prepaid cards in the
U.S., 7th Largest Issuer of Debit cards in the U.S., and a top ACH
originator.
“The new office provides The Bancorp with increased opportunity
to participate first-hand in the continued enrichment of the Sioux
Falls community,” said Damian Kozlowski, President and Chief
Executive Officer. “We look forward to having this beautiful
facility in the heart of downtown Sioux Falls become our new
home.”
To learn more about The Bancorp, please visit
www.thebancorp.com
About The Bancorp The Bancorp, Inc. (NASDAQ: TBBK),
headquartered in Wilmington, Delaware, through its subsidiary, The
Bancorp Bank, provides non-bank financial companies with the
people, processes, and technology to meet their unique banking
needs. Through its Fintech Solutions, Institutional Banking,
Commercial Lending, and Real Estate Bridge Lending businesses, The
Bancorp provides partner-focused solutions paired with cutting-edge
technology for companies that range from entrepreneurial startups
to Fortune 500 companies. With over 20 years of experience, The
Bancorp has become a leader in the financial services industry,
earning recognition as the #1 issuer of prepaid cards in the U.S.,
a nationwide provider of bridge financing for real estate capital
improvement plans, an SBA National Preferred Lender, a leading
provider of securities-backed lines of credit, with one of the few
bank-owned commercial vehicle leasing groups. By its company-wide
commitment to excellence, The Bancorp has also been ranked as one
of the 100 Fastest-Growing Companies by Fortune, a Top 50 Employer
by Equal Opportunity Magazine, and was selected to be included in
the S&P Small Cap 600. For more about The Bancorp, visit
https://thebancorp.com/.
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version on businesswire.com: https://www.businesswire.com/news/home/20211026005981/en/
Media Relations Rachel Weiss, VP Communications Manager The
Bancorp (302) 385-5410 rweiss@thebancorp.com
Investor Relations Andres Viroslav, Director of Investor
Relations The Bancorp (215) 861-7990 aviroslav@thebancorp.com
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