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The Bancorp, Inc. Announces Pricing of Common Stock Offering

^{Published on 2011-03-02 20:20:26 - Market Wire}
 

WILMINGTON, Del.--([ BUSINESS WIRE ])--The Bancorp, Inc. (aBancorpa or the aCompanya) (NASDAQ: TBBK) announced today that it has priced a public offering of 6.1 million shares of common stock at $8.25 per share for gross proceeds of approximately $50.3 million. The Company expects to close the sale of the shares on or about March 8, 2011, subject to customary closing conditions. UBS Investment Bank and Sandler Oa™Neill + Partners, L.P. are acting as the joint book-running managers and Sterne Agee is acting as co-manager for the offering. The underwriters will have a 30-day option to purchase up to an additional 915,000 shares of common stock from Bancorp to cover over-allotments, if any.

Bancorp has filed a registration statement (including a prospectus and prospectus supplement) with the SEC for the offering to which this communication relates. Prospective investors should read the prospectus in that registration statement, the prospectus supplement and other documents that the Company has filed with the SEC for more complete information about the Company and the offering. Investors may obtain these documents without charge by visiting EDGAR on the SEC website at [ www.sec.gov ]. Alternatively, copies of the prospectus supplement and the prospectus relating to the offering may be obtained from UBS Investment Bank, 299 Park Avenue, New York, NY 10171, Attention: Prospectus Department, (888) 827-7275 or from Sandler Oa™Neill + Partners, L.P., 919 Third Avenue, 6th Floor, New York, NY 10022, (866) 805-4128.

This news release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

About Bancorp

The Bancorp, Inc. is a financial holding company that operates The Bancorp Bank, an FDIC-insured commercial bank that delivers a full array of financial services and products both directly and through private-label affinity partner programs nationwide. The Bancorp Banka™s regional community bank division serves the needs of small and mid-size businesses and their principals in the Philadelphia-Wilmington region.

Cautionary Statement Regarding Forward Looking Statements

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: Statements made in this press release regarding Bancorp which are not historical facts are "forward-looking statements" that involve risks and uncertainties. These risks and uncertainties, which could cause actual results to differ materially from those contained in the forward looking statement, include those discussed in Bancorpa™s filings with the SEC, including the arisk factorsa section of the prospectus supplement. Bancorp does not undertake to update forward-looking statements in this press release or with respect to matters described herein, except as may be required by law.