TBBK Financial Services

The Bancorp, Inc.

$46.65+1.04%

Price as of close on Nov 3, 2026 · Financials updated Sep 30, 2026

Basics

Sector: Financial Services
Industry: Banks - Regional
Country: United States
Market cap: 1.9B USD
Full-time employees: 733

Overall health

Strength: more profitable than most peersmore profitable than peers
About average: growth

Ranks #103 of 791 banks & insurance companies (top 14%)

Based on 3 categories: banks and insurers are not rated on risk.

Scored as a bank or insurer: cash-flow, EBITDA, gross margin and current ratio aren’t scored; they are under “Other data”.

See how it ranks against its peers

Worth knowing

Stock-based pay is a large cost. Stock pay was 14% of revenue in 2025.
Bancorp paid employees $20M in stock in 2025, 14% of its $141M revenue. It doesn't use cash, so it flatters cash flow, but it is a real cost to shareholders through dilution.
Valuation signals disagree. Cheaper than 80% of peers on earnings, but only 13% on book value.
Relative to its earnings, Bancorp looks cheaper than 80% of peers; relative to its book value, cheaper than only 13%. The valuation score blends the two, so look at which measure fits this business best.
Share count shrinking. Shares outstanding down 27% from December 2022 to July 2026.
Bancorp had 27% fewer shares at July 2026 than at December 2022, mainly through buybacks, so each remaining share owns a larger slice of the business.
Annual revenue rose 5 years in a row. Fiscal-year revenue rose from $7M in 2020 to $141M in 2025.
Bancorp's fiscal-year revenue rose in each of the five years to 2025, from $7M to $141M.

StockQuotient Score

68/ 100▲ 3 since Oct 27 close

Oct 5 66 → Nov 4 68 (+2)

Valuation

Is the price right?

65/100

Moderate▲ 10 since Oct 27 close

2/2 inputs reported · High confidence

Since last year: ▲ Stronger

Share count down 7.1%

Valuation also moves with the share price every day.

Why it changed since the Oct 27, 2026 close: Score 55 → 65

Share price -8.6%+10

Each step re-scores the company against its peers as they were on Oct 28, 2026; the parts add up to the change. Price effects on EBITDA yield are approximate.

Why

Stronger than most peers on:

▲ Earnings yield

Compare with peers

Behind the score

Earnings yield (P/E) and book yield (P/B) versus other banks and insurers.

Book yield37.1%

SEC filings · latest balance sheetReported value40% base weight · Z-score -1.49Sector median: 0.7950 · MAD: 0.2843

Earnings yield12.2%

SEC filings · 12 months to Jun 2026Reported value60% base weight · Z-score 1.70Sector median: 0.0789 · MAD: 0.0253

Other data (not scored)

EBITDA yieldUnavailable

Missing · left out of the scoreInformational · 0% composite weightSector median: 0.1095 · MAD: 0.0527

Free cash flow yield12.3%

SEC filings · 12 months to Jun 2026 · operating cash flow − capital spendingReported valueInformational · 0% composite weightSector median: 0.0796 · MAD: 0.0459

Growth

Is it growing?

51/100

Moderate

1/1 inputs reported · High confidence

Since last year: ▲ Stronger

12-month revenue up 20.8%

Why

Close to the peer norm on every measure.

Compare with peers

Behind the score

Earnings-per-share growth versus other banks and insurers.

Earnings per share growth16.7%

SEC filings · 12 months to Jun 2026Reported value100% base weight · Z-score 0.04Sector median: 0.1599 · MAD: 0.1775

Other data (not scored)

3-year revenue growth17.9%

SEC filings · 3 years to Jun 2026Reported valueInformational · 0% composite weightSector median: 0.0826 · MAD: 0.0558

Revenue growth20.8%

SEC filings · 12 months to Jun 2026Reported valueInformational · 0% composite weightSector median: 0.0866 · MAD: 0.0782

Profitability

Does it earn well?

88/100

Strong

2/2 inputs reported · High confidence

Since last year: No major change

Why

Stronger than most peers on:

▲ ROE
▲ ROA

Compare with peers

Behind the score

Return on equity and return on assets versus other banks and insurers.

Return on assets2.5%

SEC filings · 12 months to Jun 2026Reported value50% base weight · Z-score 2.15Sector median: 0.0117 · MAD: 0.0062

Return on equity32.9%

SEC filings · 12 months to Jun 2026Outlier capped at sector 5th/95th percentile50% base weight · Z-score 4.29Sector median: 0.1074 · MAD: 0.0388

Other data (not scored)

Gross marginUnavailable

Missing · left out of the scoreInformational · 0% composite weightSector median: Unavailable · MAD: Unavailable

Operating marginUnavailable

Missing · left out of the scoreInformational · 0% composite weightSector median: 0.1450 · MAD: 0.1678

Return on invested capitalUnavailable

Missing · left out of the scoreInformational · 0% composite weightSector median: Unavailable · MAD: Unavailable

Risk

Debt, liquidity, price swings

Not rated

Not rated for banks and insurers: debt and share-price swings say little about their risk. We leave it blank rather than fill the gap with a made-up middle value.

Valuation, growth and profitability scores: higher is better. Risk: 0 is lower, 2 is higher. Risk is a relative proxy, not a bankruptcy probability. Scores depend on available sector peers.

Questions investors ask about Bancorp

Is Bancorp getting weaker?: Its latest SEC filing (Aug 6, 2026) got stronger: share count down 7.1%. Its overall score is 68/100, up 3 since Oct 28, 2026.
How is Bancorp valued vs its peers?: Priced lower than most peers relative to what it earns. Valuation scores 65/100 against 950 banks & insurance peers. Earnings yield 12.2% vs a peer median of 7.9% (stronger than 80% of peers).Earnings yield 12.2% vs peers 7.9% (stronger than 80% of peers). Book yield 37.1% vs a peer median of 79.5% (weaker than 87% of peers).Book yield 37.1% vs peers 79.5% (weaker than 87% of peers).
Is Bancorp growing?: At about the same pace as its peers. Growth scores 51/100 against 950 banks & insurance peers.
How profitable is Bancorp?: More profitable than most of its peers. Profitability scores 88/100 against 950 banks & insurance peers. Return on equity 32.9% vs a peer median of 10.7% (stronger than 95% of peers).Return on equity 32.9% vs peers 10.7% (stronger than 95% of peers).
How risky is Bancorp?: Not rated for banks and insurers: debt and share-price swings say little about their risk.

Latest filing: what changed

Year ended Dec 31, 2025 · filed Aug 6, 2026 · compared with the year ended Dec 31, 2024

Got stronger

Share count down 7.1%

	Previous year	Latest year	Change
Revenue (12 months)	116.8M USD	141.1M USD	+20.8%
Net income (12 months)	227.8M USD	231.9M USD	+1.8%
Free cash flow (12 months)	378.4M USD	233.3M USD	−38.4%
Cash	84.7M USD	80.1M USD	−5.4%
Shares outstanding	43.9M	40.8M	−7.1%

From the company’s own SEC filings, as filed. Twelve-month figures roll forward one year at a time.

Industry valuation context

Industry: Banks - Regional · 119 companies

Valuations in Banks - Regional are within their usual range since 2016.

45% of months since 2016 were valued lower than now.
14% of companies are in the most expensive fifth of their own price-to-book history.
Over 24 months, company values +29% and earnings +32% (medians): prices and earnings moved broadly together.
Median price-to-book is −61% vs the whole market, against a usual −59%.

2016Shaded: most expensive fifth of its range2026

Financials

Fiscal years from SEC annual filings · change vs the prior year

Key ratios	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025	Change
Net margin	1470.3%	151.1%	193.8%	186.3%	161.7%	▼ 25 pts
Return on assets (ROA)	1.6%	1.6%	2.5%	2.5%	2.4%	▼ 0.1 pts
Return on equity (ROE)	17.0%	18.8%	23.8%	27.5%	33.1%	▲ 5.5 pts
Debt to equity	0.06×	0.01×	0.05×	0.02×	0.29×	▲ >999%

TBBK price history

Price history is added with the daily price update and will appear after the next one.

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Bringing the fundamentals into focus…

Overall health

Strength: more profitable than most peersmore profitable than peers

About average: growth

Ranks #103 of 791 banks & insurance companies (top 14%)

Based on 3 categories: banks and insurers are not rated on risk.

Scored as a bank or insurer: cash-flow, EBITDA, gross margin and current ratio aren’t scored; they are under “Other data”.

See how it ranks against its peers

Worth knowing

Stock-based pay is a large cost. Stock pay was 14% of revenue in 2025.

Bancorp paid employees $20M in stock in 2025, 14% of its $141M revenue. It doesn't use cash, so it flatters cash flow, but it is a real cost to shareholders through dilution.

Valuation signals disagree. Cheaper than 80% of peers on earnings, but only 13% on book value.

Relative to its earnings, Bancorp looks cheaper than 80% of peers; relative to its book value, cheaper than only 13%. The valuation score blends the two, so look at which measure fits this business best.

Share count shrinking. Shares outstanding down 27% from December 2022 to July 2026.

Bancorp had 27% fewer shares at July 2026 than at December 2022, mainly through buybacks, so each remaining share owns a larger slice of the business.

Annual revenue rose 5 years in a row. Fiscal-year revenue rose from $7M in 2020 to $141M in 2025.

Bancorp's fiscal-year revenue rose in each of the five years to 2025, from $7M to $141M.

Questions investors ask about Bancorp

Is Bancorp getting weaker?

Its latest SEC filing (Aug 6, 2026) got stronger: share count down 7.1%. Its overall score is 68/100, up 3 since Oct 28, 2026.

How is Bancorp valued vs its peers?

Priced lower than most peers relative to what it earns. Valuation scores 65/100 against 950 banks & insurance peers. Earnings yield 12.2% vs a peer median of 7.9% (stronger than 80% of peers).Earnings yield 12.2% vs peers 7.9% (stronger than 80% of peers). Book yield 37.1% vs a peer median of 79.5% (weaker than 87% of peers).Book yield 37.1% vs peers 79.5% (weaker than 87% of peers).

Is Bancorp growing?

At about the same pace as its peers. Growth scores 51/100 against 950 banks & insurance peers.

How profitable is Bancorp?

More profitable than most of its peers. Profitability scores 88/100 against 950 banks & insurance peers. Return on equity 32.9% vs a peer median of 10.7% (stronger than 95% of peers).Return on equity 32.9% vs peers 10.7% (stronger than 95% of peers).

How risky is Bancorp?

Not rated for banks and insurers: debt and share-price swings say little about their risk.

Previous year

Latest year

Change

Revenue (12 months)

116.8M USD

141.1M USD

+20.8%

Net income (12 months)

227.8M USD

231.9M USD

+1.8%

Free cash flow (12 months)

378.4M USD

233.3M USD

−38.4%

Cash

84.7M USD

80.1M USD

−5.4%

Shares outstanding

43.9M

40.8M

−7.1%

Key ratios

FY 2021

FY 2022

FY 2023

FY 2024

FY 2025

Change

Net margin

1470.3%

151.1%

193.8%

186.3%

161.7%

▼ 25 pts

Return on assets (ROA)

1.6%

2.5%

2.4%

▼ 0.1 pts

Return on equity (ROE)

17.0%

18.8%

23.8%

27.5%

33.1%

▲ 5.5 pts

Debt to equity

0.06×

0.01×

0.05×

0.02×

0.29×

▲ >999%