Bancorp says 2022-2024 financials unreliable; auditors lacked consent

Bancorp, Inc.

Financial statements for fiscal years 2022-2024 should no longer be relied upon due to missing final auditor approval.
Crowe LLP (2024 audit) and Grant Thornton LLP (2022-2023) did not provide consent to include audit opinions.
Company must complete additional procedures on accounting for consumer fintech loans in allowance for credit losses.
Amended 10-K/A will be filed with proper audit opinions and consents from both firms.
Audit Committee discussing impact on disclosure controls and internal control over financial reporting.

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