Company Description (as filed with the SEC)
We are a Delaware financial holding company with a wholly owned subsidiary, The Bancorp Bank, which we refer to as the Bank. All of our revenue and income is currently generated through the Bank. Interest earning assets consist primarily of commercial loans in the Philadelphia metropolitan area Additionally, loans collateralized by securities are generated through wealth management 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, 2012, commercial loans, security backed loans and leases amounted to $1.3 billion, $235.2 million and $156.7 million, respectively. Accordingly, the categories comprised 71%, 12% and 8% of the loan portfolio, respectively. Additionally, we have been increasing our investment portfolio which amounted to $763.2 million at December 31, 2012. ... More ...