secwatch.observer — SEC 8-K summary
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Issuer:     Bancorp, Inc. (TBBK)
CIK:        0001295401
Form:       8-K
Filed at:   2025-01-02T23:59:59+00:00
Accession:  0002039852-25-000004
Event type: other_material
Sentiment:  positive
Materiality: 0.60
Item codes: 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Bancorp updates on bridge lending: $12.3M non-accrual repaid at par, sells $82M portfolio without principal loss
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- On Jan 2, 2025, a $12.3 million classified non-accrual loan was repaid at par after sale of underlying collateral in Plainfield, NJ; no loss recognized.
- On Dec 31, 2024, The Bancorp Bank sold an $82 million real estate bridge loan portfolio, including a $32.5 million current classified loan.
- No principal loss on sale; $1.26 million of accrued interest was reversed. Bank provided financing to buyer with 25% payment guaranty.
- Look-through LTVs of underlying properties are ≤57% as-is and ≤55% as-stabilized, based on recent appraisals and leverage provided.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1295401/000203985225000004/0002039852-25-000004-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1295401/000203985225000004/bancorp8k.htm
  HTML page:      https://secwatch.observer/filing/0002039852-25-000004

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