UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
Current Report
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): August 22, 2016
The Bancorp, Inc.
(Exact name of registrant as specified in its charter)
Commission File Number: 000-51018
| Delaware | | 23-3016517 |
| (State or other jurisdiction of | | (IRS Employer |
| incorporation) | | Identification No.) |
409 Silverside Road
Wilmington, DE 19809
(Address of principal executive offices, including zip code)
302-385-5000
(Registrant's telephone number, including area code)
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| [ ] | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| | |
| [ ] | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| | |
| [ ] | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| | |
| [ ] | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
On August 22, 2016, The Bancorp, Inc. sold $65 million of mostly commercial real estate loans from its discontinued commercial loan portfolio, reducing such portfolio (net of marks) from approximately $400 million at June 30, 2016 to approximately $335 million, a decrease of 16%, at August 22, 2016. A gain of $500,000 was recognized on the sale. A copy of the press release regarding the sale is annexed as Exhibit 99.1 to this report.
| Item 9.01 | Financial Statements and Exhibits |
Exhibit Number | Description | |
| 99.1 | |
Signature(s)
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Date: August 26, 2016 | The Bancorp, Inc. |
| | |
| | By: /s/ Paul Frenkiel |
| | Name: Paul Frenkiel |
| | Title: Executive Vice President, Chief |
| | Financial Officer and Secretary |
EXHIBIT INDEX
Exhibit Number | Description | |
| 99.1 | |
