Bancorp Bank To Exit SBL Loan Origination By Year-End 2026; Cuts 64 Jobs, Or 9% Of Workforce; Expects $5.6M Restructuring Charges; Targets $14M Annualized Savings, Or Over $20M Including Prior Reorganization
On September 1, 2026, The Bancorp Bank, N.A. (the "Bank"), a wholly owned subsidiary of The Bancorp, Inc. (the "Company"), implemented an organizational restructuring to further align its resources and
Bancorp Bank is stopping a type of lending business and laying off 64 workers to save money and run more efficiently. When a company makes big changes like this, it can hurt short-term results, but it might help them focus on stronger areas.
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Source: Benzinga · Read the original report at the publisher. Headline and figures shown for context; data may be delayed.
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