The Bancorp, Inc. (NASDAQ: TBBK)

This lawsuit is for anyone who acquired securities in The Bancorp, Inc. (NASDAQ: TBBK) from January 25, 2024 through March 4, 2025

The lawsuit alleges that the Company and certain of its executives violated federal law. Specifically, the lawsuit alleges that, throughout the time period mentioned above, the Company misled investors regarding its financial condition. More specifically, the lawsuit alleges that the Company misled investors by telling investors that the Company had in place sufficient financial controls but then by significantly misrepresenting the quality of the Company’s real estate bridge loan.

On March 21, 2024, Culper Research published a report alleging, among other things, that TBBK has “misrepresented the quality of its real estate bridge loan (‘REBL’) portfolio”, estimating TBBK to have losses anywhere from ten to fifteen times higher than the Company’s actual reserves. On this news, the price of the Company’s stock dropped precipitously on unusually heavy trading volume. Then, on March 4, 2025, after market hours, TBBK disclosed that the Company had “inappropriately filed its Annual Report on Form 10-K for the fiscal year ended December 31, 2024” and the financial statements from 2022 to 2024 should no longer be relied upon. The Company explained that its auditors for those years “did not provide approval to include [the] audit opinion . . . or [the] consent to the incorporation by reference of their audit report in certain registration statements.” The Company further revealed it is “working expeditiously to perform and complete additional closing procedures related to accounting for consumer fintech loans in the allowance for credit losses” in order to file an amended Annual Report. On this news, the price of the Company’s stock again dropped precipitously on unusually heavy trading volume.

The Law Offices of Howard G. Smith seeks to recover damages on behalf of class members. If you acquired securities in The Bancorp, Inc. (NASDAQ: TBBK) from January 25, 2024 through March 4, 2025 you may join the lawsuit by submitting your information online, or you may call the Law Offices of Howard G. Smith and speak to Mr. Smith directly to learn how he can protect your rights.