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Delaware-based 'bank behind the brands' providing banking-as-a-service for prepaid cards, digital wallets and fintech apps.
Delaware-based 'bank behind the brands' providing banking-as-a-service for prepaid cards, digital wallets and fintech apps.
Runs the bank accounts behind other firms' prepaid, debit and digital-wallet products, earning fees and a share of interchange (the fee merchants pay on each card payment). It lends out the large deposits these programs bring in, much of it as property bridge loans. The customers belong to the brands, and the bank has no branches.
Moat: narrow (switching costs, regulatory licence). A bank charter plus deep fintech program-management integrations are costly for partners to switch away from.
Headquarters: Wilmington, Delaware, US · Founded: 2000 · Employees: 733
Size Bancorp (TBBK) is a United States Financials company (Regional Banks) with a market value of $1.97B, the 1800th largest of 3,117 United States companies the cockpit tracks. Shares closed at $48.25 on 6 Nov 2026.
Performance Over six months the shares fell 15.3%, against +4.8% for the median peer and -1.1% for the United States market (cap-weighted) — 2nd lowest of 21 in its peer set.
Growth Revenue fell 7.5% over the last twelve months (peer median +1.6%).
Valuation It trades at 2.96× book value against a peer median of 1.05× (most expensive of 21).
Price implies The share price implies a return on equity of about 26.3%; Bancorp delivers 33.0%, so the price asks less than the business earns today.
Credit Bancorp has 1 bond outstanding ($200M) and trading like BB- at a weighted spread of 261 bp.
Short interest Short interest is 9.0% of the free float (15 Oct 2026).
Next results Next results expected around 28 Jan 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $796M | $880M | $709M | $624M | $419M |
| Revenue growth | — | +24% | +14% | +49% | — |
| Net income | $240M | $228M | $218M | $192M | $130M |
| Free cash flow | n/a | $258M | $205M | $174M | $116M |
| Capital expenditure | n/a | $7.09M | $4.97M | $12.7M | $5.13M |
| Total debt | $1.32B | $442M | $124M | $148M | $123M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE |
|---|---|---|---|---|---|---|
| Bancorp TBBK | $1.97B | -15% | -7% | 33% | 2.96× | 26.3% |
| Customers Bancorp CUBI | $2.82B | +10% | +8% | 14% | 1.29× | 14.7% |
| Green Dot GDOT | $697M | -3% | +18% | -3% | 0.74× | 7.8% |
| Pathward Financial CASH | $1.58B | -12% | -1% | 21% | 1.93× | 12.8% |
| Coastal Financial CCB | $653M | -41% | +10% | -1% | 1.37× | 10.8% |
| MVB Financial MVBF | $337M | -1% | +11% | 7% | 1.02× | 9.5% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | TBBK | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -2.2% | +3.2% | 3rd lowest of 21 |
| 6-month return | -15.3% | +4.8% | 2nd lowest of 21 |
| Return on equity | 33.0% | 9.8% | 2nd highest of 21 |
| Price / book | 2.96× | 1.05× | most expensive of 21 |
| Trailing P/E | 8.5× | 11.5× | 8th cheapest of 21 |
| ROE the price implies | 26.3% | 9.6% | most demanding of 21 |
| ROE delivered | 33.0% | 10.0% | 2nd highest of 20 |
| Bond spread | 261 bp | n/a | — |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| Bancorp TBBK | United States | $1.97B | -15% | -7% | 33% | 2.96× | 26.3% | 33.0% |
| San-in Godo Bank 8381.T | Japan | $1.95B | +5% | +27% | 8% | 0.91× | 5.9% | 8.1% |
| Wuxi Rural Commercial Bank 600908.SS | China | $1.94B | +3% | -5% | 10% | 0.54× | 2.8% | 10.1% |
| Bank of Zhengzhou 002936.SZ | China | $2.01B | -3% | +1% | 3% | 0.34× | 2.6% | n/a |
| First Commonwealth Financial FCF | United States | $2.03B | +13% | +4% | 11% | 1.37× | 10.4% | 11.4% |
| German American Bancorp GABC | United States | $1.88B | +15% | +12% | 13% | 1.63× | 11.0% | 12.8% |
| Hilltop HTH | United States | $2.07B | -4% | -2% | 7% | 0.98× | 9.1% | 6.6% |
| 1st Source SRCE | United States | $2.09B | +18% | +4% | 14% | 1.59× | 10.5% | 13.9% |
| Dime Commercial Bancshares DCOM | United States | $1.85B | +13% | +14% | 9% | 1.39× | 12.4% | 9.4% |
| Kiyo Bank 8370.T | Japan | $1.83B | +39% | +20% | 9% | 1.13× | 8.6% | 9.4% |
| Bank of Lanzhou 001227.SZ | China | $1.82B | -4% | 0% | 6% | 0.38× | 2.5% | 5.5% |
| Paragon Banking PAG.L | United Kingdom | $1.81B | +5% | -7% | 12% | 0.95× | 14.0% | 12.0% |
| Dah Sing Financial 0440.HK | Hong Kong | $1.81B | +4% | -8% | 6% | 0.36× | 4.7% | 5.6% |
| Western Union WU | United States | $2.15B | -24% | -2% | 44% | 2.35× | 14.3% | 44.0% |
| Bank of N.T. Butterfield & Son Limited (The) NTB | United States | $2.15B | -3% | 0% | 21% | 1.94× | 12.0% | 21.1% |
| S&T Bancorp STBA | United States | $1.79B | +14% | +2% | 10% | 1.27× | 10.8% | 10.0% |
| Jiangsu Jiangyin Rural Commercial Bank 002807.SZ | China | $1.77B | +5% | -3% | 10% | 0.57× | 2.9% | 10.5% |
| Bank of Guizhou 6199.HK | Hong Kong | $1.77B | -4% | -2% | 8% | 0.24× | 3.6% | 8.0% |
| Ogaki Kyoritsu Bank 8361.T | Japan | $1.75B | +45% | +39% | 6% | 0.66× | 6.1% | 5.6% |
| Enterprise Financial Services EFSC | United States | $2.21B | +4% | +2% | 10% | 1.20× | 10.2% | 9.6% |
| Byline Bancorp BY | United States | $1.70B | +15% | +2% | 12% | 1.34× | 10.3% | 12.3% |
Bancorp has 1 bond outstanding with $200M face value. Weighted yield 7.28%, a spread of 261 bp over government bonds.