Net interest income contracted 3.2% year-over-year to $88.8M in 2026Q1, while the efficiency ratio deteriorated to 35.7% from 23.9% in 2025Q1, reflecting rising operational costs.
| 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 | 372.58M | 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 % | -1.11% | -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 % | 3.76% | 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 | 541.36M | 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 | 168.78M | 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 | 77.52M | 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 | 237.52M | 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 % | 30.5% | 20.15% | 22.32% | 16.69% | 25.51% | 32.05% | 28.64% | 36.7% | 50.97% | 43.77% | 29.36% | 61.44% | 54.6% | 61.61% | 55.63% | 25.31% | 19.92% | 14.64% | 11.44% | 6.67% | 5.86% | 8.4% | 10.19% | 41.48% |
| Total Revenue | 778.88M | 690.46M | 710.11M | 611.6M | 413.98M | 326.86M | 295.4M | 283.7M | 301.75M | 217M | 144.71M | 216.6M | 155.77M | 133.22M | 88.98M | 118.41M | 103.31M | 93.44M | 107.34M | 114.15M | 86.01M | 51.46M | 27.47M | 25.28M |
| Revenue Growth % | 22.96% | -2.77% | 16.11% | 47.74% | 26.65% | 10.65% | 4.13% | -5.98% | 39.05% | 49.96% | -33.19% | 39.05% | 16.92% | 49.72% | -24.86% | 14.62% | 10.56% | -12.95% | -5.96% | 32.72% | 67.14% | 87.3% | 8.66% | - |
| Non-Interest Expense | 226.07M | 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 | 29.03% | 30.38% | 28.62% | 31.24% | 40.94% | 51.5% | 55.8% | 59.4% | 50.13% | 72.97% | 137.23% | 89.61% | 87.3% | 76.43% | 90.12% | 60.51% | 59.75% | 62.12% | 109.25% | 27.34% | 29.65% | 44.22% | 58.12% | 72.6% |
| Operating Income | 306.51M | 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 % | 39.35% | 43.89% | 41.14% | 41.98% | 42.98% | 44.11% | 36.66% | 25.55% | 39.69% | 18.61% | -48.02% | 3.14% | 4.68% | 15.22% | -10.41% | 11.17% | 7.51% | 6.8% | -58.94% | 20.74% | 24.22% | 22.6% | 10.18% | 3.25% |
| 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 | 306.51M | 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 % | 39.35% | 43.89% | 41.14% | 41.98% | 42.98% | 44.11% | 36.66% | 25.55% | 39.69% | 18.61% | -48.02% | 3.14% | 4.68% | 15.22% | -10.41% | 11.17% | 7.51% | 6.8% | -58.94% | 20.74% | 24.22% | 22.6% | 10.18% | 3.25% |
| Income Tax | 75.4M | 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 % | 24.6% | 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 | 231.11M | 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 % | 29.67% | 33.05% | 30.63% | 31.44% | 31.45% | 33.85% | 27.11% | 18.17% | 29.39% | 9.99% | -66.68% | 6.2% | 36.66% | -10.83% | -48.5% | 7.53% | 5.05% | 4.39% | -39.48% | 12.56% | 14.53% | 14.47% | 13.53% | 4.24% |
| Net Income Growth % | 5.88% | 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) | 231.11M | 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) | 5.43 | 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 % | 16.03% | 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 | 42.59M | 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 |
Regulatory BaaS compliance scrutiny
As reported in recent financial statements, TBBK's net interest income has trended downward from $94.4M in 2024Q1 to $88.8M in 2026Q1, reflecting a 3.2% year-over-year contraction that suggests the bank is struggling to maintain its interest-earning momentum amidst a shifting rate environment.
The decline in NII suggests that the bank's specialized lending portfolios may be facing pricing pressure or reduced demand for credit. Investors should monitor whether this contraction is a temporary cyclical adjustment or a structural shift in the bank's ability to deploy capital effectively.
Based on the provided quarterly data, TBBK's net interest margin has compressed from 1.2% in 2024Q4 to 0.9% in 2026Q1, indicating that the cost of funding or asset yield dynamics are increasingly challenging the bank's core profitability profile in the current market cycle.
The consistent erosion of NIM suggests that the bank's funding advantage from fintech partners may be narrowing as those partners demand higher yields. This trend warrants further investigation into whether the bank can maintain its historical pricing power in the specialized lending segment.
According to the company's income statement data, the efficiency ratio has fluctuated significantly, rising from a low of 23.9% in 2025Q1 to 35.7% in 2026Q1, which may indicate rising operational costs associated with regulatory compliance and infrastructure maintenance within the BaaS model.
The upward trend in the efficiency ratio suggests that the bank is experiencing diminishing returns on its operating expenses. This may imply that the regulatory burden of managing high-volume payment programs is becoming a more significant drag on pre-provision net revenue.
As indicated by the financial filings, TBBK's provision for loan losses shifted from a $1.3M expense in 2024Q2 to a $13.4M credit in 2026Q1, suggesting a complex and potentially volatile approach to credit risk management that requires careful scrutiny by institutional investors.
The significant swings in provision expense may reflect adjustments in the bank's assessment of its specialized lending portfolio, including SBLOCs and commercial fleet leases. Such volatility suggests that the bank's credit quality is sensitive to broader macro conditions, despite the over-collateralized nature of its core products.
Based on reported figures, non-interest income as a percentage of total revenue peaked at 37.4% in 2025Q1 before retreating to 21.5% in 2026Q1, highlighting a potential cooling in the transaction-based fee streams that are critical to the bank's diversified revenue model.
The decline in fee income contribution suggests that the bank's fintech partners may be experiencing lower transaction volumes or that the competitive landscape for interchange fees is intensifying. This shift implies that the bank's reliance on transactional revenue may be less stable than previously anticipated.
Quick answers to the most common questions about buying TBBK stock.
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.