The Bancorp Closes $200M Senior Notes Offering
ByAinvest
Monday, Aug 18, 2025 4:56 pm ET1min read
TBBK--
The notes, with a 7.375% interest rate, were sold at par and resulted in net proceeds of approximately $197 million after accounting for the underwriting discount and estimated transaction expenses. The company intends to use these funds to redeem or repay at maturity all $100 million of its 4.75% Senior Notes due 2025, including any applicable redemption premiums. Additionally, the proceeds will fund the company's share repurchase program and support general corporate purposes, which may include capital to support the growth of its wholly owned subsidiary, The Bancorp Bank, National Association [2].
The notes, which will mature on September 1, 2030, are redeemable in whole or in part beginning on or after the 30th day prior to the maturity date. Interest is payable semi-annually in arrears on March 1 and September 1 of each year, commencing on March 1, 2026 [1].
The Bancorp, Inc. is recognized for its excellence in the financial services industry. The company is the third-largest bank by asset size in South Dakota and is known for its innovative solutions, particularly in the realm of prepaid cards and real estate bridge lending [2].
References:
[1] https://finance.yahoo.com/news/bancorp-inc-announces-completion-200-204600481.html
[2] https://www.morningstar.com/news/business-wire/20250818309825/the-bancorp-inc-announces-completion-of-2000-million-senior-note-offering
The Bancorp Inc. has closed a $200 million senior notes offering. The company provides services to non-bank financial companies, including prepaid, debit, and credit card processing, as well as real estate bridge lending and institutional banking. The proceeds from the offering will be used to repay existing debt and for general corporate purposes.
The Bancorp Inc. (NASDAQ: TBBK) has successfully closed a $200 million senior notes offering, according to a press release issued on August 18, 2025. The company, which provides services to non-bank financial companies, including prepaid, debit, and credit card processing, as well as real estate bridge lending and institutional banking, used the proceeds to repay existing debt and for general corporate purposes [1].The notes, with a 7.375% interest rate, were sold at par and resulted in net proceeds of approximately $197 million after accounting for the underwriting discount and estimated transaction expenses. The company intends to use these funds to redeem or repay at maturity all $100 million of its 4.75% Senior Notes due 2025, including any applicable redemption premiums. Additionally, the proceeds will fund the company's share repurchase program and support general corporate purposes, which may include capital to support the growth of its wholly owned subsidiary, The Bancorp Bank, National Association [2].
The notes, which will mature on September 1, 2030, are redeemable in whole or in part beginning on or after the 30th day prior to the maturity date. Interest is payable semi-annually in arrears on March 1 and September 1 of each year, commencing on March 1, 2026 [1].
The Bancorp, Inc. is recognized for its excellence in the financial services industry. The company is the third-largest bank by asset size in South Dakota and is known for its innovative solutions, particularly in the realm of prepaid cards and real estate bridge lending [2].
References:
[1] https://finance.yahoo.com/news/bancorp-inc-announces-completion-200-204600481.html
[2] https://www.morningstar.com/news/business-wire/20250818309825/the-bancorp-inc-announces-completion-of-2000-million-senior-note-offering
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