INVESTOR ALERT: Faruqi & Faruqi, LLP Investigates Claims on Behalf of Investors of The Bancorp

Core Viewpoint - Faruqi & Faruqi, LLP is investigating potential claims against The Bancorp, Inc. due to allegations of securities law violations, with a deadline for investors to seek lead plaintiff status in a class action lawsuit by May 16, 2025 [3][11]. Group 1: Allegations Against The Bancorp - The complaint alleges that The Bancorp and its executives made false or misleading statements regarding the risks associated with its REBL loan portfolio, including underrepresenting the risk of default [5]. - It is claimed that the company's expected credit loss methodology was inadequate, leading to a likely increase in provisions for credit losses [5]. - The company reportedly had material weaknesses in its internal controls over financial reporting, and its financial statements were not approved by independent auditors, making them unreliable [5]. Group 2: Market Reactions and Financial Disclosures - Following a report from Culper Research on March 21, 2024, alleging significant risks in the company's loan portfolio, The Bancorp's share price fell by $3.63, or 10.15$32.12 [7]. - On October 24, 2024, the company reported a net income of $51.5 million for Q3 2024, but this included a$1.5 million reduction due to increased provisions for credit losses, leading to a share price drop of $7.95, or 14.47$47.01 [8]. - On March 4, 2025, The Bancorp disclosed that its financial statements for fiscal years 2022 to 2024 should no longer be relied upon, resulting in a share price decline of $2.34, or 4.38$51.25 [9][10].