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Mar 31, 2023
Bancorp Q1 2023 Earnings Report
Reported financial results for the first quarter of 2023.
Key Takeaways
The Bancorp reported strong first quarter results, surpassing performance expectations and leading to an increased earnings guidance for the year. The bank's diversified deposit base and low-risk credit book helped it manage industry volatility effectively.
The Bancorp's deposit base is granular and spread across more than 130 million insured small accounts.
The company maintains a low-risk variable rate and short duration credit book.
The Bancorp has significant liquidity and borrowing capacity.
Earnings guidance was raised from $3.20 to $3.60 per share.
Bancorp
Bancorp
Forward Guidance
The Bancorp is raising its earnings guidance from $3.20 to $3.60 a share, without including the impact of anticipated share buy backs of $25 million per quarter in 2023.