SAN FRANCISCO, March 18, 2025 (GLOBE NEWSWIRE) -- The Bancorp, Inc. (NASDAQ: TBBK) saw its shares plummet $2.35 on March 5, 2025, as investors grappled with the company’s startling admission that its recently filed financial statements should no longer be relied upon. This financial fumble, however, was not entirely unexpected, as it followed a prescient warning from short-seller Culper Research nearly a year earlier. Hagens Berman is now investigating whether possible securities laws violations have occurr ...

In my last article on East West Bancorp, Inc. (NASDAQ: EWBC ) my rating was hold because the stock was pricing in a very optimistic scenario and there was a risk of overpaying for it. EWBC is a solid bank withHi there, welcome to my profile. My name is Eugenio Catone, I live in Italy and I am 26 years old. In 2023 I graduated in Business Administration and I am completing my studies. My interest in financial markets started about 5 years ago when I accidentally came across a video about trading. That was th ...

ATLANTA, March 18, 2025 (GLOBE NEWSWIRE) -- A shareholder class action lawsuit has been filed against The Bancorp, Inc. (“Bancorp” or the “Company”) (NASDAQ: TBBK). The lawsuit alleges that Defendants made false and/or misleading statements, as well as failed to disclose material facts regarding Bancorp’s business, operations, and prospects, including allegations that: (1) Bancorp had underrepresented the significant risk of default or loss on its REBL loan portfolio; (2) Bancorp’s current expected credit l ...

NEW YORK, March 17, 2025 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of  The Bancorp Inc ("Bancorp" or the "Company") (NASDAQ: TBBK). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, ext. 7980.The investigation concerns whether Bancorp and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices. [Click here for information about joining the class action] On October 24, 2024, Ban ...

Group 1 - CNB Community Bancorp, Inc. declared a quarterly cash dividend of $0.30 per share, reflecting an increase of $0.01 from the previous quarter [1] - The dividend is payable on April 11, 2025, to shareholders of record as of March 31, 2025 [1] Group 2 - CNB Community Bancorp, Inc. operates as a one-bank holding company with its subsidiary, County National Bank, providing full-service banking and investment management since 1934 [2] - In 2024, CNB was ranked 85th in American Banker Magazine's Top 100 publicly traded banks under $2 billion [2] - The company is headquartered in Hillsdale, Michigan, and offers a variety of financial products and services through 13 full-service offices and 19 ATMs [2]

Core Insights - The Bancorp, Inc. experienced a significant drop in share price following the announcement that its recently filed financial statements should no longer be relied upon, leading to a loss of $2.35 per share on March 5, 2025 [1][3] - The company invalidated three years of financial reporting, specifically for the fiscal years ended December 31, 2022 through 2024, which raised serious concerns among investors [3][4] - The situation was foreshadowed by a report from short-seller Culper Research, which accused Bancorp of misrepresenting the quality of its real estate bridge loan portfolio and under-reserving for potential loan losses [5][6] Financial Reporting Issues - Bancorp's late-night announcement on March 4, 2025, revealed that the financial statements filed in the Annual Report were no longer reliable, invalidating three years of financial data [3][4] - The company is currently working on additional procedures related to accounting for consumer fintech loans in its allowance for credit losses [4] - Neither the former auditor, Grant Thornton LLP, nor the current auditor, Crowe LLP, provided final approval for their audit opinions included in the report [4] Investigations and Allegations - Hagens Berman is investigating potential securities laws violations and is urging investors who suffered losses to come forward [2][7] - The investigation focuses on whether Bancorp misled investors regarding the quality of its loan portfolios and adherence to accounting standards [7] - The Culper Research report highlighted that Bancorp's reserves of $4.7 million were only 0.24% of its real estate bridge loan book, suggesting that actual losses could be significantly higher [6]

FFB Bancorp ( OTCQX:FFBB ), has, since its 2005 establishment, grown into a formidable financial institution serving businesses, professionals, and individuals across California and beyond. FFB Bancorp is a well-capitalized, highly profitable financial institution with a strong regional presence in California. Although profitability has grownAn economics graduate with a passion for financial history; I apply my knowledge to markets in an effort to hopelessly predict trends and spot value. All opinions are m ...

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Financial Performance - The investment portfolio amounted to $1.50 billion at December 31, 2024, representing an increase from the prior year[21] - SBLOC and IBLOC loans totaled $1.56 billion, approximately 25% of total loans and commercial loans at fair value[25] - Consumer fintech loans reached $454.4 million, approximately 7% of total loans and commercial loans at fair value[25] - REBL loans accounted for $2.11 billion, approximately 33% of total loans and commercial loans at fair value[25] - The majority of deposits and non-interest income are generated in the fintech segment, which includes consumer transaction accounts and payment processing[22] Loan and Financing Activities - The company began making consumer fintech loans in 2024, including secured credit card loans and payroll advances[20] - The company provides lease financing for commercial and government vehicle fleets, with lease terms generally ranging from 36 to 60 months[39] - The company participates as an SBA Preferred Lender in the 7(a) Loan Guarantee Program, which helps small businesses with loans for various purposes, including working capital and equipment purchases[40] - The company resumed the origination of apartment loans in Q3 2021, which are transitional commercial mortgage loans with variable rates and monthly adjustments[45] - In 2024, the company began offering consumer fintech loans, including secured credit card loans and payroll advances, which are at risk of complete loss if not repaid[46] Strategic Initiatives - The principal strategies include funding loan and investment portfolio growth with stable deposits and generating non-interest income from prepaid and debit card accounts[27] - The company aims to develop relationships with affinity groups to gain access to their membership and client bases for marketing services[28] - The company offers customized banking services through private label banking to affinity group partners[29] - The company provides a variety of checking and savings accounts, as well as payment services, to fintech companies and affinity groups, enhancing their service offerings[49] - The company has developed strategic relationships with affinity-based clients, providing customized deposit products and services[52] Regulatory Compliance and Capital Management - As of December 31, 2024, the Company had total capital to risk-adjusted assets ratios of 14.46% and Tier 1 capital to risk-adjusted assets ratios of 13.88%[90] - The Bank's leverage ratios were 10.38% as of December 31, 2024, exceeding the minimum regulatory requirements[91] - The Company is required to maintain a capital conservation buffer of 2.5% of Common Equity Tier 1 (CET1), resulting in minimum ratios of CET1 to risk-weighted assets of at least 7%[96] - The Company is in compliance with Basel III rules and expects to continue meeting targeted capital ratios[100] - The minimum CET1 ratio requirement for well-capitalized status is 6.5%, and the minimum Tier 1 capital ratio is 8%[100] Employee and Workplace Culture - The Company aims to attract and retain high-performing talent, with approximately 50% of its workforce being women and 23% being racial and ethnic minorities[67] - The Company is committed to providing competitive benefit programs, including healthcare coverage and retirement benefits, to promote employee well-being[70] - The Company maintains an inclusive work culture, implementing strategies that promote diversity and employee engagement[71] Risk Management and Cybersecurity - The company faces various risks including economic conditions, interest rate changes, and cybersecurity threats that could impact its financial performance[16] - The company has implemented a comprehensive information security program to protect customer records and information[116] - The company maintains a robust cybersecurity program aligned with NIST and PCI standards, including regular vulnerability assessments and penetration testing[57][60] Consumer Protection and Regulatory Environment - The Company is subject to extensive regulation, including requirements to maintain reserves against deposits and limitations on the types of loans that may be made[75] - The Company must comply with the Basel III rules, which include maintaining specific capital ratios and addressing credit risk management[94] - The Bank is subject to various federal consumer protection laws related to its lending activities, including the Truth in Lending Act and the Equal Credit Opportunity Act[130] - The Consumer Financial Protection Bureau adopted amendments to Regulation E and Regulation Z to add protections for prepaid accounts[133] - The Dodd-Frank Act implemented significant changes in financial regulation, including the creation of the CFPB and new capital rules for bank holding companies[140] Market Competition - The company competes with various financial institutions, including banks and online lenders, with significant costs of entry related to consumer protection compliance and regulatory requirements[62] - The company utilizes third-party service providers to enhance operational efficiency and reduce costs, ensuring business continuity through alternative sources[54] - The company’s marketing strategy targets affinity group organizations nationally, leveraging personal sales and media advertising to reach potential clients[55]

Group 1 - Washington Trust Bancorp, Inc. will hold its 2025 Annual Meeting of Shareholders virtually on April 22, 2025, at 11:00 a.m. ET [1] - Shareholders of record as of February 25, 2025, are entitled to attend and vote at the Annual Meeting [1] Group 2 - Washington Trust Bancorp, Inc. is the publicly-owned holding company of The Washington Trust Company, with $6.9 billion in assets as of December 31, 2024 [2] - Founded in 1800, Washington Trust is recognized as the oldest community bank in the nation and the largest state-chartered bank headquartered in Rhode Island [2] - The bank offers a wide range of services including commercial banking, mortgage banking, personal banking, and wealth management through its offices in Rhode Island, Connecticut, and Massachusetts [2]