Current Report Filing (8-k)
October 27 2022 - 4:08PM
Edgar (US Regulatory)
0001295401
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0001295401
2022-10-26
2022-10-26
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xbrli:shares
iso4217:USD
xbrli:shares
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
Current Report
Pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934
Date of Report (Date of earliest event reported): October
26, 2022
The Bancorp, Inc.
(Exact name of registrant as specified in its charter)
Commission File Number: 000-51018
Delaware |
|
23-3016517 |
(State or other jurisdiction of |
|
(IRS Employer |
incorporation) |
|
Identification No.) |
409 Silverside Road
Wilmington, DE 19809
(Address of principal executive offices, including
zip code)
302-385-5000
(Registrant’s telephone number, including
area code)
(Former name or former address, if changed since
last report)
Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
[_] Written communications pursuant to Rule 425 under the
Securities Act (17 CFR 230.425)
[_] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[_] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[_] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each class |
|
Trading
Symbol(s) |
|
Name of each exchange on which registered |
Common Stock, par value $1.00 per share |
|
TBBK |
|
Nasdaq Global Select |
Indicate by check mark whether the registrant is an emerging growth
company as defined in Rule 405 of the Securities Act of 1933 (§230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2).
[_] Emerging growth company
If an emerging growth company, indicate by check mark if the registrant
has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant
to Section 13(a) of the Exchange Act. [_]
Item 2.02. |
Results of Operations and Financial Condition |
On October 27, 2022, The Bancorp, Inc. (the
"Company") issued a press release regarding its earnings for the three and nine months ended September 30, 2022. A copy of this
press release is furnished with this report as Exhibit 99.1.
Item 7.01. |
Regulation FD Disclosure |
The Company hereby furnishes the information set
forth in the presentation attached hereto as Exhibit 99.2, which is incorporated herein by reference.
The information being furnished pursuant to Item
2.02 and Item 7.01 in this Current Report, including the exhibits hereto, is to be considered “furnished” pursuant to Form
8-K and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise
subject to the liabilities of that section. The information in this Current Report shall not be incorporated by reference into any registration
statement or other document pursuant to the Securities Act of 1933, as amended.
On October 26, 2022, the Company’s board of directors approved,
subject to any necessary regulatory notices or approvals, a new stock repurchase program authorizing the purchase of up to $25.0 million
of the Company’s common stock per fiscal quarter of 2023, provided that the maximum amount of repurchases in 2023 will not exceed
$100.0 million. The repurchase program will commence on January 1, 2023, replacing the previous program. There can be no assurance as
to the number of shares the Company may repurchase, as the timing and terms of any repurchases will depend on factors such as the share
price, economic and market conditions, and corporate and regulatory requirements. The repurchase program may be suspended, amended or
discontinued at any time.
Item 9.01. |
Financial Statements and Exhibits |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: October 27, 2022 |
The Bancorp, Inc. |
|
|
|
|
By: |
/s/ Paul Frenkiel |
|
Name: |
Paul Frenkiel |
|
Title: |
Chief Financial Officer and |
|
|
Secretary |
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