Bancorp Q2 net income $49M, EPS $0.89 (+68% YoY); reaffirms $3.60 FY guidance

Bancorp, Inc.

2023-Q2 EPS reported $1.76

Net income $49.0M ($0.89 diluted EPS) vs $30.4M ($0.53) in Q2 2022, a 68% EPS increase.
Net interest income rose 60% to $87.2M; net interest margin expanded to 4.83% from 3.17% a year ago.
ROA annualized 2.6% (vs 1.7%), ROE 27% (vs 19%); book value per share $13.74, up 19% YoY.
Gross dollar volume on prepaid/debit cards $32.78B, up 15% YoY; share repurchases 828,727 shares at ~$30.17 during Q2.
CEO Damian Kozlowski reaffirmed FY 2023 guidance of $3.60 EPS, excluding planned $25M quarterly share buybacks.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Bancorp, Inc. reported the quarter ended June 30, 2023 results: net income $49.0 million, EPS $0.89 per diluted share. Guidance reaffirmed.

Period: the quarter ended June 30, 2023
Net income: $49.0 million
EPS: $0.89 per diluted share
Guidance: reaffirmed
Result: reported results

Exact text from the filing

The Bancorp reported net income of $49.0 million, or $0.89 per diluted share, for the quarter ended June 30, 2023, compared to net income of $30.4 million, or $0.53 per diluted share, for the quarter ended June 30, 2022, or a 68% increase in income per diluted share.

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Source: SEC EDGAR

accession 0000950159-23-000223

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