The Bancorp, Inc. Announces Completion of $100 Million Senior Note Offering

The Bancorp, Inc. Announces Completion of $100 Million Senior Note Offering

  • Posted: 08/13/2020
  • Jennifer Lian

WILMINGTON, Del.–(BUSINESS WIRE)–The Bancorp, Inc. (the “Company”) (Nasdaq: TBBK), today announced the completion of its previously announced underwritten offering and sale of its $100.0 million aggregate principal amount of 4.75% Senior Notes due 2025 (the “Notes”). The Notes were sold at par, resulting in net proceeds, after underwriting discounts and estimated offering expenses, of approximately $98.3 million.

The Company intends to use the net proceeds of the offering for general corporate purposes, which may include capital to support the growth of The Bancorp Bank.

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