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Latest Bank Director News
Jun 6, 2023
(“Bank”), a wholly-owned subsidiary of The Bancorp, Inc. (“Company”) (NASDAQ: TBBK), processed over $229M of wholesale transactions through its Wholesale Purchase Program. With the inclusion of Wholesale Leasing, the all-encompassing program launched in 2020 and offers bank and non-bank lenders the opportunity to sell individual or portfolios of loans and leases to the Bank to optimize balance sheets and gain liquidity. “By implementing the Wholesale Purchase Program, The Bancorp Commercial Lending is uniquely positioned to help financial institutions, and businesses reduce balance sheet risk and free up assets,” said Jeff Nager, Executive Vice President of Commercial Lending. “With our model of buying loans and leases, our partners can retain the servicing of the transaction with their client base and generate the liquidity necessary to move their business forward.” After its initial success, the program continued to grow, with transactions processed increasing 79% over 2021 and 2022. Through the program, the Bank offers a transaction-based sale with no borrower deposit or past lending relationship required. By offering established pricing and exact closing dates, sellers can have a clear view of how much liquidity they will have access to and when all while maintaining control of their client base. “Our team continually looks for new opportunities to provide our partners with the lending services they need to continue to be successful,” said Tee Shipmon, Director, Wholesale Markets. “The growth we have seen by offering a secondary market indicates a need for this service in the marketplace. With this program, we aim to be a true partner that helps generate liquidity and premiums without fear of competition.” Powered by The Bancorp Banks’s unique operational model, the Wholesale Purchase Program is one of several innovative banking products the Bank offers to help partners build, grow, and maintain their businesses. The Bank is a leading payments industry sponsor bank as the #1 Issuer of Prepaid Cards (Nilson, May 2022) and a top ACH-Originating Bank (NACHA, 2021). The Bank also offers wealth management professionals and their clients, access to banking solutions and provides institutions white-label lending and leasing through The Bancorp Alliance programs, among other products. With intent, the Bank remains a backend partner to businesses by delivering technology-forward products with a superior level of service. About The Bancorp The Bancorp Inc. (NASDAQ: TBBK), through its subsidiary, The Bancorp Bank, N.A., provides non-bank financial companies with the people, processes, and technology to meet their unique banking needs. With over 20 years of experience, The Bancorp delivers partner-focused solutions paired with cutting-edge technology for companies that range from entrepreneurial startups to Fortune 500 companies. Through its Fintech Solutions, Institutional Banking , Commercial Lending , and Real Estate Bridge Lending businesses, The Bancorp is the third-largest Bank by asset in South Dakota, 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, and one of the few bank-owned commercial vehicle leasing groups in the country. With a company-wide commitment to excellence, The Bancorp is recognized as the top-ranked publicly traded Bank with assets between $5B-$50B by Bank Director Magazine, a Readers’ Choice 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/ . View source version on businesswire.com: https://www.businesswire.com/news/home/20230606005729/en/ © Business Wire 2023
Bank Director Frequently Asked Questions (FAQ)
When was Bank Director founded?
Bank Director was founded in 1991.
Where is Bank Director's headquarters?
Bank Director's headquarters is located at 201 Summit View Dr., Brentwood.
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