Bancorp, Inc. Announces 2024 Annual Meeting of Stockholders

Ticker: TBBK · Form: DEF 14A · Filed: Apr 8, 2024 · CIK: 1295401

Bancorp, Inc. DEF 14A Filing Summary
FieldDetail
CompanyBancorp, Inc. (TBBK)
Form TypeDEF 14A
Filed DateApr 8, 2024
Risk Level
Pages15
Reading Time18 min
Key Dollar Amounts$1.00, $7.7B, $192M, $7.7 billion, $192 million
Sentimentbullish

Sentiment: bullish

Topics: Bancorp, Annual Meeting, Proxy Statement, Stockholders, Governance

TL;DR

<b>The Bancorp, Inc. invites stockholders to its 2024 Annual Meeting on May 29, 2024, highlighting a successful 2023 and commitment to future performance.</b>

AI Summary

Bancorp, Inc. (TBBK) filed a Proxy Statement (DEF 14A) with the SEC on April 8, 2024. The Bancorp, Inc. will hold its 2024 Annual Meeting of Stockholders on May 29, 2024, at 10:00 a.m. Eastern Time in Wilmington, Delaware. The company highlights a strong 2023 performance, navigating market turmoil and interest rate hikes. Bancorp emphasizes its commitment to business partners, safety, soundness, and stockholder advocacy. The Board and management aim to maintain the company's position as a low-risk, high-return financial institution. The proxy statement urges stockholders to read the information and vote their shares regardless of attendance.

Why It Matters

For investors and stakeholders tracking Bancorp, Inc., this filing contains several important signals. The annual meeting is a key governance event where shareholders can vote on important company matters and hear from leadership. The company's positive outlook on its 2023 performance and future strategy suggests potential continued value creation for shareholders.

Risk Assessment

Risk Level: — Bancorp, Inc. shows moderate risk based on this filing. The filing is a routine proxy statement for an annual meeting, with no immediate negative financial or operational disclosures, indicating low immediate risk.

Analyst Insight

Stockholders should review the proxy materials carefully to understand the proposals being voted on and consider voting their shares to influence corporate governance.

Key Numbers

  • 2024 — Annual Meeting Year (The Bancorp, Inc. 2024 Annual Meeting of Stockholders)
  • May 29 — Annual Meeting Date (The meeting will be held Wednesday, May 29, 2024)
  • 10:00 a.m. — Annual Meeting Time (at 10:00 a.m., Eastern Time)

Key Players & Entities

  • Bancorp, Inc. (company) — Registrant name
  • 2024 (date) — Annual Meeting year
  • May 29, 2024 (date) — Annual Meeting date
  • Wilmington, Delaware (location) — Meeting location
  • 2023 (date) — Performance year
  • James J. Mc (person) — Board Chair & CEO

FAQ

When did Bancorp, Inc. file this DEF 14A?

Bancorp, Inc. filed this Proxy Statement (DEF 14A) with the SEC on April 8, 2024.

What is a DEF 14A filing?

A DEF 14A is a definitive proxy statement sent to shareholders before annual meetings, covering executive compensation, board nominations, and shareholder votes. This particular DEF 14A was filed by Bancorp, Inc. (TBBK).

Where can I read the original DEF 14A filing from Bancorp, Inc.?

You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by Bancorp, Inc..

What are the key takeaways from Bancorp, Inc.'s DEF 14A?

Bancorp, Inc. filed this DEF 14A on April 8, 2024. Key takeaways: The Bancorp, Inc. will hold its 2024 Annual Meeting of Stockholders on May 29, 2024, at 10:00 a.m. Eastern Time in Wilmington, Delaware.. The company highlights a strong 2023 performance, navigating market turmoil and interest rate hikes.. Bancorp emphasizes its commitment to business partners, safety, soundness, and stockholder advocacy..

Is Bancorp, Inc. a risky investment based on this filing?

Based on this DEF 14A, Bancorp, Inc. presents a moderate-risk profile. The filing is a routine proxy statement for an annual meeting, with no immediate negative financial or operational disclosures, indicating low immediate risk.

What should investors do after reading Bancorp, Inc.'s DEF 14A?

Stockholders should review the proxy materials carefully to understand the proposals being voted on and consider voting their shares to influence corporate governance. The overall sentiment from this filing is bullish.

Risk Factors

  • Regulatory Compliance [medium — regulatory]: The company operates in a highly regulated industry, requiring adherence to various banking laws and regulations.
  • Interest Rate Risk [medium — market]: Fluctuations in interest rates can impact the company's net interest income and overall profitability.
  • Cybersecurity Risks [high — operational]: As a financial institution, the company is a target for cyberattacks, which could lead to data breaches and financial losses.

Key Dates

  • 2024-05-29: 2024 Annual Meeting of Stockholders — Key date for shareholder voting and company updates.

Glossary

Proxy Statement
A statement filed by a company with the SEC that contains information about the annual meeting of shareholders. (Provides essential details for shareholders to make informed voting decisions.)
DEF 14A
A definitive proxy statement filed with the SEC. (The official filing type for this document, indicating it's for public distribution.)

Filing Stats: 4,444 words · 18 min read · ~15 pages · Grade level 12.8 · Accepted 2024-04-08 16:09:36

Key Financial Figures

  • $1.00 — rs who held our common stock, par value $1.00 per share (the "Common Stock"), at the
  • $7.7B — l year 2023. As of December 31, 2023: $7.7B $192M 26% 2.6% Our assets total
  • $192M — 023. As of December 31, 2023: $7.7B $192M 26% 2.6% Our assets totaled appro
  • $7.7 billion — 2.6% Our assets totaled approximately $7.7 billion. We recorded net income of $192 milli
  • $192 million — .7 billion. We recorded net income of $192 million compared to $130 million in 2022. We
  • $130 million — net income of $192 million compared to $130 million in 2022. We recorded 26% return on eq

Filing Documents

EXECUTIVE COMPENSATION TABLES

EXECUTIVE COMPENSATION TABLES 43 STOCK OWNERSHIP AND SECTION 16 COMPLIANCE 50 PROPOSAL 3. RATIFICATION OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM FOR FISCAL YEAR 2024 52 AUDIT COMMITTEE REPORT 54 PROPOSAL 4. APPROVAL OF THE BANCORP, INC. 2024 EQUITY INCENTIVE PLAN 55 GENERAL INFORMATION ABOUT THE 2024 ANNUAL MEETING 65 OTHER MATTERS 69 STOCKHOLDER PROPOSALS AND NOMINATIONS FOR THE 2025 ANNUAL MEETING 70 APPENDIX A. The Bancorp, Inc. 2024 Equity Incentive Plan A-1 4 2024 PROXY STATEMENT TABLE OF CONTENTS Proxy Summary Proposal #1 Proposal #2 Proposal #3 Proposal #4 Other Matters PROXY SUMMARY The Board of Directors of the Company (the "Board of Directors" or the "Board") is using this Proxy Statement to solicit proxies from the holders of its Common Stock for use at the Company's 2024 Annual Meeting, which is first being sent or made available to stockholders on or about April 9, 2024. This summary highlights certain information contained in this Proxy Statement for the Annual Meeting. It does not contain all of the information stockholders should consider in making a voting decision. We encourage you to read the entire Proxy Statement before you vote. Certain information provided in this Proxy Statement relates to The Bancorp Bank, National Association ("The Bancorp Bank, N.A.," or the "Bank"), which is a wholly-owned subsidiary of the Company. We may refer to the Company and the Bank jointly as "The Bancorp." Annual Meeting Information MEETING DATE AND TIME PLACE 2024 Annual Meeting of Stockholders Wednesday, May 29, 2024 at 10:00 a.m. Eastern Time 409 Silverside Road, Suite 105 Wilmington, DE EXCHANGE AND TICKER SYMBOL Nasdaq Global Select : TBBK Delaware Close of business on April 2, 2024 Voting Items and Board Recommendations PROPOSALS BOARD'S RECOMMENDATION PAGE 1 Election of 10 director nominees to serve until the 2025 annu

Executive Compensation Highlights

Executive Compensation Highlights Set forth below is a table illustrating key highlights of our compensation practices used to support our business strategies, align with our pay-for-performance philosophy, and exercise strong oversight to mitigate excessive risk-taking. Practices We Employ: Practices We Avoid: Balanced Compensation Philosophy We have a balanced compensation philosophy, utilizing a mix of cash and equity, short-term and long-term elements, and fixed and variable (at risk) incentives. No Employment Agreements We generally do not enter into employment agreements with our executive officers. Pay for Performance A significant percentage of our executive officers' total compensation (bonus and equity grants) is discretionary, and awarded based on our performance. No Guaranteed Incentive Payouts We do not provide absolute or guaranteed incentive payouts regardless of performance. Executives Subject to Clawback Policy We have an executive compensation clawback policy applicable to all executive officers that provides for the mandatory recovery, in the event of an accounting restatement, of erroneously awarded incentive-based compensation received by executive officers to the extent the compensation was awarded based on the attainment of a financial reporting measure. No Significant Perquisites Our executive officers are entitled to only limited perquisites. Evaluate and Manage Risk The Compensation Committee reviews incentive compensation programs annually to ensure that our programs do not encourage excessive risk-taking. No Hedging and Pledging We prohibit our employees, executive officers, and directors from engaging in pledging and hedging Company stock and derivatives. Independent Expert Advice Pay Governance LLC, an independent advisor free of conflicts of interest, provides the Compensation Committee with expert executive compensation advice. No Tax Gross-Ups We do not provide our executive officers with tax gross

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