Revenue declined 2.8% YoY in Q2 2026 to $205.2M, but a 138% surge in non-interest income to $73.0M lifted the fee mix to 35.6% and drove EPS growth of 14.2% to $1.45, despite NII falling 7.2% to $90.5M.
The Bancorp, Inc. (TBBK) annual income statement — 23-year revenue, gross profit & net income history
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 | Dec'04 | Dec'03 |
|---|
| Net Interest Income | 365.56M | 375.51M | 376.24M | 354.05M | 248.84M | 210.88M | 194.87M | 141.29M | 120.85M | 106.68M | 89.97M | 69.93M | 59.42M | 40.38M | 28.07M | 76.41M | 68.19M | 63.71M | 54.22M | 52.67M | 44.27M | 32.16M | 17.6M | 9.37M |
| NII Growth % | -12.25% | -0.19% | 6.27% | 42.28% | 18% | 8.22% | 37.92% | 16.91% | 13.28% | 18.58% | 28.65% | 17.68% | 47.16% | 43.87% | -63.26% | 12.04% | 7.04% | 17.5% | 2.94% | 18.96% | 37.67% | 82.76% | 87.71% | - |
| Net Interest Margin % | 3.97% | 4.02% | 4.31% | 4.59% | 3.15% | 3.08% | 3.1% | 2.5% | 2.71% | 2.27% | 1.86% | 1.47% | 1.18% | 0.88% | 0.76% | 2.54% | 2.85% | 3.12% | 3.02% | 3.36% | 3.32% | 3.51% | 3.05% | 3.08% |
| Interest Income | 530.33M | 551.37M | 551.59M | 509.51M | 308.37M | 222.12M | 210.78M | 179.57M | 147.96M | 122.02M | 102.22M | 83.53M | 70.72M | 51.15M | 39.48M | 88.44M | 82.73M | 79.76M | 95.06M | 106.54M | 80.97M | 47.13M | 24.67M | 14.8M |
| Interest Expense | 164.78M | 175.86M | 175.35M | 155.46M | 59.53M | 11.24M | 15.92M | 38.28M | 27.11M | 15.34M | 12.25M | 13.6M | 11.29M | 10.77M | 11.41M | 12.04M | 14.54M | 16.05M | 40.84M | 53.87M | 36.7M | 14.97M | 7.08M | 5.42M |
| Loan Loss Provision | 59.24M | 1.83M | 39.37M | 8.33M | 7.03M | 3.11M | 6.35M | 4.4M | 3.58M | 2.92M | 3.36M | 2.1M | 1.2M | 355K | 6.64M | 21.5M | 19.29M | 13M | 12.5M | 5.4M | 2.98M | 2.1M | 1.63M | 685K |
| Non-Interest Income | 226.82M | 139.09M | 158.51M | 102.09M | 105.61M | 104.75M | 84.62M | 104.13M | 153.79M | 94.98M | 42.49M | 133.07M | 85.05M | 82.07M | 49.5M | 29.97M | 20.57M | 13.68M | 12.28M | 7.61M | 5.04M | 4.32M | 2.8M | 10.49M |
| Non-Interest Income % | 38.29% | 27.03% | 29.64% | 22.38% | 29.79% | 33.19% | 30.28% | 42.43% | 56% | 47.1% | 32.08% | 65.55% | 58.87% | 67.02% | 63.82% | 28.17% | 23.18% | 17.68% | 18.47% | 12.63% | 10.22% | 11.85% | 13.73% | 52.8% |
| Total Net Revenue | 592.37M | 514.61M | 534.75M | 456.15M | 354.45M | 315.63M | 279.48M | 245.41M | 274.64M | 201.66M | 132.45M | 203M | 144.47M | 122.45M | 77.57M | 106.38M | 88.77M | 77.39M | 66.5M | 60.28M | 49.31M | 36.48M | 20.4M | 19.86M |
| Revenue Growth % | -6.21% | -3.77% | 17.23% | 28.69% | 12.3% | 12.93% | 13.88% | -10.64% | 36.19% | 52.26% | -34.75% | 40.51% | 17.98% | 57.87% | -27.08% | 19.84% | 14.7% | 16.37% | 10.32% | 22.25% | 35.17% | 78.87% | 2.69% | - |
| Non-Interest Expense | 225.32M | 209.73M | 203.22M | 191.04M | 169.5M | 168.35M | 164.85M | 168.52M | 151.28M | 158.35M | 198.57M | 194.09M | 135.98M | 101.82M | 80.19M | 71.65M | 61.73M | 58.04M | 117.27M | 31.2M | 25.5M | 22.75M | 15.97M | 18.36M |
| Efficiency Ratio | 38.04% | 40.76% | 38% | 41.88% | 47.82% | 53.34% | 58.98% | 68.67% | 55.08% | 78.52% | 149.92% | 95.61% | 94.12% | 83.15% | 103.38% | 67.35% | 69.54% | 75% | 176.35% | 51.76% | 51.72% | 62.37% | 78.29% | 92.42% |
| Operating Income | 307.8M | 303.04M | 292.16M | 256.77M | 177.91M | 144.16M | 108.28M | 72.49M | 119.78M | 40.39M | -69.48M | 6.81M | 7.29M | 20.28M | -9.26M | 13.23M | 7.75M | 6.35M | -63.27M | 23.68M | 20.83M | 11.63M | 2.8M | 821K |
| Operating Margin % | 51.96% | 58.89% | 54.63% | 56.29% | 50.19% | 45.68% | 38.74% | 29.54% | 43.61% | 20.03% | -52.46% | 3.35% | 5.05% | 16.56% | -11.94% | 12.44% | 8.74% | 8.21% | -95.14% | 39.28% | 42.24% | 31.87% | 13.71% | 4.13% |
| Operating Income Growth % | - | 3.72% | 13.78% | 44.32% | 23.41% | 33.14% | 49.37% | -39.48% | 196.53% | 158.14% | -1120.28% | -6.61% | -64.05% | 319.02% | -170.01% | 70.61% | 22.11% | 110.04% | -367.22% | 13.67% | 79.15% | 315.88% | 240.56% | - |
| Pretax Income | 307.8M | 303.04M | 292.16M | 256.77M | 177.91M | 144.16M | 108.28M | 72.49M | 119.78M | 40.39M | -69.48M | 6.81M | 7.29M | 20.28M | -9.26M | 13.23M | 7.75M | 6.35M | -63.27M | 23.68M | 20.83M | 11.63M | 2.8M | 821K |
| Pretax Margin % | 51.96% | 58.89% | 54.63% | 56.29% | 50.19% | 45.68% | 38.74% | 29.54% | 43.61% | 20.03% | -52.46% | 3.35% | 5.05% | 16.56% | -11.94% | 12.44% | 8.74% | 8.21% | -95.14% | 39.28% | 42.24% | 31.87% | 13.71% | 4.13% |
| Income Tax | 75.86M | 74.82M | 74.62M | 64.48M | 47.7M | 33.72M | 27.69M | 21.23M | 32.24M | 23.06M | -12.66M | 1.45M | -14.52M | 6.77M | -3.49M | 4.31M | 2.53M | 2.25M | -20.89M | 9.34M | 8.33M | 4.18M | -922K | -250K |
| Effective Tax Rate % | 24.65% | 24.69% | 25.54% | 25.11% | 26.81% | 23.39% | 25.57% | 29.28% | 26.92% | 57.08% | 18.23% | 21.29% | -199.16% | 33.36% | 37.71% | 32.59% | 32.65% | 35.4% | 33.02% | 39.44% | 39.99% | 35.96% | -32.98% | -30.45% |
| Net Income | 231.94M | 228.21M | 217.54M | 192.3M | 130.21M | 110.65M | 80.08M | 51.56M | 88.68M | 21.67M | -96.49M | 13.43M | 57.11M | -14.42M | -43.15M | 8.92M | 5.22M | 4.1M | -42.38M | 14.34M | 12.5M | 7.45M | 3.72M | 1.07M |
| Net Margin % | 39.16% | 44.35% | 40.68% | 42.16% | 36.74% | 35.06% | 28.65% | 21.01% | 32.29% | 10.75% | -72.85% | 6.62% | 39.53% | -11.78% | -55.63% | 8.38% | 5.88% | 5.3% | -63.73% | 23.79% | 25.35% | 20.41% | 18.23% | 5.39% |
| Net Income Growth % | 3.35% | 4.91% | 13.13% | 47.68% | 17.68% | 38.17% | 55.33% | -41.86% | 309.16% | 122.46% | -818.37% | -76.48% | 495.99% | 66.58% | -583.89% | 70.78% | 27.3% | 109.68% | -395.54% | 14.72% | 67.85% | 100.3% | 247.15% | - |
| Net Income (Continuing) | 231.94M | 228.21M | 217.54M | 192.3M | 130.21M | 110.44M | 80.6M | 51.27M | 87.54M | 17.34M | -56.82M | 5.36M | 21.82M | 13.52M | -5.77M | 8.92M | 5.22M | 4.1M | -42.38M | 14.34M | 12.5M | 7.45M | 3.72M | 1.07M |
| EPS (Diluted) | 5.55 | 4.92 | 4.29 | 3.49 | 2.27 | 1.88 | 1.37 | 0.90 | 1.55 | 0.39 | -2.17 | 0.38 | -0.49 | 0.66 | 0.50 | 0.28 | -0.04 | 0.02 | -2.93 | 0.98 | 0.86 | 0.48 | 0.24 | 0.06 |
| EPS Growth % | 14.41% | 14.69% | 22.92% | 53.74% | 20.74% | 37.23% | 52.22% | -41.94% | 297.44% | 117.97% | -671.05% | 177.55% | -174.24% | 32% | 78.57% | 800% | -300% | 100.68% | -398.98% | 13.95% | 79.17% | 100% | 300% | - |
| EPS (Basic) | - | 4.99 | 4.35 | 3.53 | 2.30 | 1.93 | 1.39 | 0.91 | 1.57 | 0.39 | -2.17 | 0.38 | -0.49 | 0.67 | 0.50 | 0.28 | -0.04 | 0.02 | -2.93 | 1.03 | 0.90 | 0.49 | 0.25 | 0.06 |
| Diluted Shares Outstanding | 41.79M | 46.42M | 50.71M | 55.05M | 57.27M | 58.83M | 58.41M | 57.34M | 57.07M | 56.18M | 44.78M | 37.86M | 37.7M | 38.12M | 33.29M | 31.92M | 26.18M | 19.32M | 14.55M | 14.45M | 14.32M | 13.16M | 10.74M | 2.08M |
Quick answers to the most common questions about buying TBBK stock.
For fiscal year 2025, The Bancorp, Inc. (TBBK) reported total revenue of $514.6M. This represents a 2491.0% increase compared to $19.9M in 2003.
The Bancorp, Inc. (TBBK) is profitable, generating $228.2M in net income for the fiscal year ending 2025 with a net profit margin of 33.1%.
The Bancorp, Inc. (TBBK) reported an operating income of $303.0M, resulting in an operating profit margin of 43.9%. This margin reflects the operational efficiency of the business before interest and taxes.
The Bancorp, Inc. (TBBK) generated $512.8M in gross profit for the year, representing a gross profit margin of 74.3%. This demonstrates the company's core pricing power and production efficiency.
Key Metrics
Top Statement Risk
Regulatory scrutiny of BaaS
Metrics are mathematically derived from official filings.
NII Pressured by Rate Cycle
Net interest income declined 7.2% YoY in Q2 2026 to $90.5M, reflecting lower asset yields and funding cost pressures, as reported in the latest quarterly filing.
The sequential decline from $92.1M in Q4 2025 to $90.5M in Q2 2026 suggests continued compression in net interest income, likely driven by repricing of floating-rate assets and a flattening yield curve. Despite a stable NIM around 1.0%, the absolute decline indicates that loan growth is not offsetting spread compression. Investors should monitor whether the bank can reprice its deposit base downward to stabilize NII.
NIM Stability Masks Yield Pressure
Net interest margin held at 1.0% in Q2 2026, down from 1.2% a year earlier, as asset yields and funding costs move in tandem, per the income statement data.
The 20 basis point year-over-year decline in NIM, while modest, reflects the bank's high proportion of low-cost deposits, which limits downside but also caps upside in a falling rate environment. The stability in recent quarters suggests that the bank's funding advantage is being offset by lower yields on its securities-backed lending portfolios. Peer comparison shows TBBK's NIM is below the 1.2% reported by Customers Bancorp, indicating potential for improvement if the bank can reprice assets faster.
Efficiency Ratio Shows Operating Leverage
Efficiency ratio improved to 27.5% in Q2 2026 from 30.6% a year ago, driven by a 12% rise in non-interest income, as per the latest financial statements.
The efficiency ratio's improvement is notable given the revenue decline, indicating that the bank is controlling expenses while fee income grows. The 35.6% fee mix in Q2 2026, up from 18.3% in Q2 2024, suggests a strategic shift toward higher-margin, non-interest income sources. This operating leverage may be sustainable if the fintech solutions segment continues to scale without proportional cost increases.
Provision Volatility Signals Credit Caution
Provision expense swung from a $13.4M benefit in Q1 2026 to a $26.1M charge in Q2 2026, reflecting elevated credit costs in the specialized lending portfolio, per the quarterly data.
The sharp reversal in provision expense, from a benefit to a charge, suggests that credit conditions in the SBLOC and real estate bridge portfolios may be deteriorating, or that the bank is building reserves in anticipation of future losses. The $45.1M provision in Q3 2025 and $44.4M in Q2 2025 indicate that credit costs are running higher than the $1-3M levels seen in early 2024. This volatility warrants close monitoring, as it could signal a cyclical downturn in the bank's niche lending segments.
Fee Income Drives Earnings Resilience
Non-interest income surged to $73.0M in Q2 2026, up 138% YoY, lifting the fee mix to 35.6% and offsetting NII declines, as reported in the latest quarterly results.
The dramatic increase in fee income, particularly in Q2 2026, appears to be driven by higher interchange and service charges from the fintech solutions segment. This diversification reduces reliance on net interest income and provides a more stable earnings stream. However, the volatility in fee income—ranging from $29.4M in Q1 2024 to $83.7M in Q2 2025—suggests that some components may be transaction-based and subject to seasonal or cyclical swings. Investors should assess the recurring nature of these fees.
Q2 2026 Marks Potential Inflection
Q2 2026 EPS of $1.45 met consensus while management raised full-year guidance, despite a 2.8% YoY revenue decline, suggesting a possible bottom in revenue, per the earnings release.
The combination of in-line EPS and upward guidance, alongside a surge in fee income, may indicate that the bank is transitioning to a higher-margin, fee-driven model. The revenue decline appears to be driven by NII compression, but the fee growth could offset this in coming quarters. If the fee momentum persists, the bank could see accelerating earnings growth, making this quarter a potential inflection point. However, the regulatory scrutiny of BaaS could temper the pace of new partner onboarding.
What Could Invalidate the Base Case
The reliance on volatile fee income and provision swings may mask underlying earnings quality, as fee income fluctuated from $29.4M to $83.7M over the past two years, per the data.
The sharp swings in non-interest income, particularly the 138% YoY jump in Q2 2026, raise questions about the sustainability of fee growth. If the surge is driven by one-time items or partner concentration, future quarters could see a reversal. Additionally, the provision volatility suggests that credit costs may be understated in low-provision quarters, potentially leading to earnings normalization. Investors should scrutinize the composition of fee income and the adequacy of reserves relative to the specialized lending portfolio's risk profile.