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Company Description (as filed with the SEC)
We are a Delaware financial holding company and our primary subsidiary, wholly owned, is The Bancorp Bank, which we refer to as the Bank. The vast majority of our revenue and income is currently generated through the Bank. The majority of our loans consist primarily of commercial loans in the Philadelphia metropolitan area. Additionally, loans collateralized by securities are generated through institutional banking affinity groups and are typically offered in conjunction with brokerage accounts. Automobile fleet leases are generated in a number of Atlantic Coast and other states. At December 31, 2013, commercial loans, security backed loans and leases amounted to $1.33 billion, $293.1 million and $175.6 million, respectively. Accordingly, the categories comprised 68%, 15% and 9% of the loan portfolio, respectively. We also fund loans which our Commercial Mortgage Backed Securitization (CMBS) department originates. ... More ...