Bancorp, Inc. Files 8-K on Officer/Director Changes
Ticker: TBBK · Form: 8-K · Filed: Aug 28, 2024 · CIK: 1295401
| Field | Detail |
|---|---|
| Company | Bancorp, Inc. (TBBK) |
| Form Type | 8-K |
| Filed Date | Aug 28, 2024 |
| Risk Level | low |
| Pages | 3 |
| Reading Time | 3 min |
| Key Dollar Amounts | $1.00 |
| Sentiment | neutral |
Sentiment: neutral
Topics: corporate-governance, officer-changes, director-changes
TL;DR
Bancorp's 8-K shows leadership changes and new officer appointments effective Aug 23.
AI Summary
The Bancorp, Inc. filed an 8-K on August 28, 2024, reporting events as of August 23, 2024. The filing pertains to the departure of directors or certain officers, the election of directors, the appointment of certain officers, and compensatory arrangements for certain officers. It also includes financial statements and exhibits.
Why It Matters
This filing indicates potential shifts in the company's leadership and governance structure, which could impact strategic direction and operational oversight.
Risk Assessment
Risk Level: low — The filing reports routine corporate governance events and does not indicate any immediate financial distress or significant operational disruption.
Key Players & Entities
- The Bancorp, Inc. (company) — Registrant
- August 23, 2024 (date) — Date of earliest event reported
- August 28, 2024 (date) — Date of report
FAQ
What specific officer or director positions were affected by the events reported on August 23, 2024?
The filing indicates "Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers" but does not specify the names or exact positions affected in the provided text.
Are the financial statements included in this 8-K a restatement or an update to previous filings?
The filing states "Financial Statements and Exhibits" are included, but the provided text does not specify if they are a restatement or an update.
What are the details of the compensatory arrangements for certain officers mentioned in the filing?
The filing lists "Compensatory Arrangements of Certain Officers" as an item, but the specific details of these arrangements are not provided in the excerpt.
What is the primary business of The Bancorp, Inc. based on its SIC code?
The Bancorp, Inc.'s Standard Industrial Classification (SIC) code is 6021, which corresponds to "NATIONAL COMMERCIAL BANKS."
Where is The Bancorp, Inc.'s principal executive office located?
The Bancorp, Inc.'s principal executive offices are located at 409 Silverside Road, Wilmington, DE 19809.
Filing Stats: 840 words · 3 min read · ~3 pages · Grade level 10.3 · Accepted 2024-08-28 16:10:13
Key Financial Figures
- $1.00 — ch registered Common Stock, par value $1.00 per share TBBK Nasdaq Global Select
Filing Documents
- bancorp8k.htm (8-K) — 23KB
- ex99-1.htm (EX-99.1) — 9KB
- 0000950159-24-000259.txt ( ) — 204KB
- tbbk-20240823.xsd (EX-101.SCH) — 3KB
- tbbk-20240823_lab.xml (EX-101.LAB) — 33KB
- tbbk-20240823_pre.xml (EX-101.PRE) — 22KB
- bancorp8k_htm.xml (XML) — 3KB
02. Departure of Directors or Certain Officers; Election of Directors;
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On August 23, 2024, the Board of Directors (the "Board") of The Bancorp, Inc. (the "Company") appointed Todd J. Brockman as a director of the Board, effective October 1, 2024, for an initial term expiring at the 2025 annual meeting of stockholders or until his successor shall have been duly elected and qualified. The Company previously disclosed its plan to reduce the size of the Board from ten (10) to nine (9) directors, effective October 1, 2024, due to director Michael J. Bradley's notice of retirement and resignation, dated July 19, 2024, to be effective as of September 30, 2024. With Mr. Brockman's appointment to the Board, the size of the Board will now remain at ten (10) directors as of October 1, 2024. Mr. Brockman has over 25 years of experience as a senior executive in the payments and financial technology industry. From 2010 to 2023, Mr. Brockman served as SVP, General Manager of Visa DPS, one of the largest issuer processors in the world. In 2021, Mr. Brockman was elevated to SVP, Global Head of Issuing Solutions for Visa Inc. and General Manager of Visa DPS, serving in that capacity until his retirement in July 2023. Mr. Brockman has also held various other leadership roles in the industry, including President of Galileo Processing, Inc. from 2008 to 2010 and Global Head of Prepaid at Visa Inc. from 2001 to 2008. Mr. Brockman holds a Bachelor of Arts degree from University of California Berkeley and a Master of Business Administration degree from University of California Davis Graduate School of Management. At this time, Mr. Brockman has not been named to serve on any committee of the Board, and the Board has not identified any committee to which he is expected to be appointed. Mr. Brockman will be entitled to the Company's standard compensation for non-employee directors, including board fees
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits (d) Exhibits 99.1 Press Release 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
SIGNATURES
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: August 28, 2024 THE BANCORP, INC. By: /s/ Paul Frenkiel Name: Paul Frenkiel Title: Chief Financial Officer and Secretary