The Bancorp Increases Commercial Fleet Leasing Footprint, Acquisition Expands The Bancorp to Southeastern Pennsylvania Region
WILMINGTON, Del.–(BUSINESS WIRE)–The Bancorp, Inc. (NASDAQ: TBBK) is pleased to announce the recent acquisition of McMahon Leasing. The purchase expands The Bancorp’s footprint to the southeastern Pennsylvania region, which will include a leasing office located in Norristown, Pennsylvania.
The purchase of McMahon allows for greater growth opportunities for The Bancorp. McMahon Leasing has been in business since 1987 under the same ownership, providing vehicle and equipment leasing to primarily small and mid-size businesses. Like The Bancorp, McMahon offers fleet management services including vehicle selection, acquisition and disposal, as well as fuel and maintenance programs and tag and title.
“We’ve found a tremendous partner in The Bancorp,” says Joe McMahon, President, and CEO of McMahon Leasing. “Their depth of resources will allow us to deliver new and innovative products and offerings with the same superior service McMahon Leasing customers have come to expect.”