The Bancorp, Inc. Announces Pricing of $100 Million Senior Note Offering

The Bancorp, Inc. (the “Company”) (Nasdaq: TBBK), today announced the pricing of its public offering of $100.0 million aggregate principal amount of 4.75% Senior Notes due 2025 (the “Notes”). The Notes will bear interest at 4.75% per annum, payable semi-annually in arrears on March 15 and September 15 of each year, commencing on March 15, 2021 and ending on the earlier of the optional redemption date (which is on or after thirty days prior to the maturity of the Notes) or the maturity date. The Notes will be unsecured and unsubordinated obligations and rank equal in priority with all of the Company’s existing and future unsecured and unsubordinated indebtedness and senior in right of payment to all of the Company’s existing and future subordinated indebtedness.

Piper Sandler & Co. and Raymond James & Associates, Inc. are acting as book-running managers for the offering.

The Company estimates that the net proceeds of the offering will be approximately $98.5 million, after deducting underwriting discounts and commissions, but before deducting estimated transaction expenses payable by the Company. The Company intends to use the net proceeds of the offering for general corporate purposes, which may include capital to support the growth of The Bancorp Bank.

The offering is being made by means of a prospectus supplement and accompanying base prospectus. The Company has filed with the U.S. Securities and Exchange Commission (“SEC”) a registration statement (File No. 333-239529) and a preliminary prospectus supplement to the base prospectus contained in the registration statement for the Notes to which this communication relates. The Company will file a final prospectus supplement relating to the Notes. Prospective investors should read the prospectus supplement and the base prospectus in the registration statement and other documents the Company has filed or will file with the SEC for more complete information about the Company and the offering.

Copies of these documents, when available, can be obtained for free by visiting the SEC’s website at www.sec.gov, or may be obtained by contacting Piper Sandler & Co. by email at [e-mail].

This press release shall not constitute an offer to sell or a solicitation of an offer to buy the Notes, nor shall there be any sale of the Notes in any state or other jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Any offering of the Notes is being made only by means of a written prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended. The Notes being offered have not been approved or disapproved by any regulatory authority, nor has any such authority passed upon the accuracy or adequacy of the prospectus supplement or the registration statement or prospectus relating thereto.