Page 1

Exhibit 99.1 The Bancorp , Inc. Reports First Quarter 2021 Financial Results Wilmington , DE – April 29 , 2021 – The Bancorp , Inc. ( " The Bancorp " ) ( NASDAQ : TBBK ) , a financial holding company , today reported financial results for the first quarter of 2021 . Highlights • For the quarter ended March 31 , 2021 , The Bancorp earned net income of $ 26.1 million from continuing operations , and $ 0.44 diluted earnings per share from combined continuing and discontinued operations . • • • • • • Return on assets and equity for the quarter ended March 31 , 2021 amounted to 1.6 % and 18 % , respectively , compared to 1.6 % and 17 % , respectively , for the quarter ended December 31 , 2020. ( all percentages “ annualized ” . ) Net interest margin amounted to 3.34 % for the quarter ended March 31 , 2021 , compared to 3.34 % for the quarter ended March 31 , 2020 and 3.58 % for the quarter ended December 31 , 2020 . Net interest income increased 25 % to $ 53.8 million for the quarter ended March 31 , 2021 , compared to $ 42.9 million for the quarter ended March 31 , 2020 . Average loans and leases , including loans at fair value , increased 37 % to $ 4.48 billion for the quarter ended March 31 , 2021 , compared to $ 3.27 billion for the quarter ended March 31 , 2020 . Prepaid , debit card and related fees increased 4 % to $ 19.2 million for the quarter ended March 31 , 2021 , compared to $ 18.5 million for the quarter ended March 31 , 2020. Gross dollar volume ( GDV ) , representing total spend on cards , increased 23 % period over period . SBLOC ( securities backed lines of credit ) , IBLOC ( insurance backed lines of credit ) and advisor financing loans increased 45 % year over year and 5 % quarter over quarter to $ 1.68 billion at March 31 , 2021 . Small Business Loans , including those held at fair value , increased 16 % year over year to $ 692.1 million at March 31 , 2021 , exclusive of $ 190.3 million of Paycheck Protection Program ( PPP ) balances outstanding at that date . Those balances reflect payments on previously outstanding PPP loans and $ 95 million of first quarter 2021 PPP loans . There were 630 PPP loans made in first quarter 2021 , generating approximate fees of $ 3.4 million , with 90 % of such loans under $ 350,000 . Those fees will be recognized throughout full year 2021 , which is the estimated period of repayment by the U.S. government . • Leasing increased 9 % year over year to $ 484.3 million at March 31 , 2021 . • The average interest rate on $ 6.04 billion of average deposits and interest - bearing liabilities during the first quarter of 2021 was 0.21 % . Average prepaid and debit card account deposits of $ 4.28 billion for first quarter 2021 , reflected an increase of 36 % over the $ 3.15 billion for the quarter ended March 31 , 2020 . • • Consolidated and The Bancorp Bank ( “ the Bank ” ) leverage ratios were 8.62 % and 8.69 % , respectively , at March 31 , 2021. The Bancorp and its subsidiary , The Bank , remain well capitalized . Book value per common share at March 31 , 2021 was $ 10.42 per share compared to $ 8.69 at March 31 , 2020 , an increase of 20 % , primarily as a result of retained earnings per share . The Bancorp repurchased 594,428 shares of its common stock at an average cost of $ 16.82 per share during the three months ended March 31 , 2021 . 1