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Sep 30, 2024
Bancorp Q3 2024 Earnings Report
Reported strong growth in Fintech Solutions and issued preliminary EPS guidance for 2025.
Key Takeaways
The Bancorp reported a net income of $51.5 million for the third quarter of 2024, driven by growth in Fintech Solutions. The company issued preliminary EPS guidance of $5.25 for 2025.
Net income for Q3 2024 was $51.5 million.
Real estate bridge loans classified as special mention and substandard amounted to $84.4 million and $155.4 million, respectively.
The company added a new qualitative factor to its quarterly ACL with a cumulative after-tax impact of approximately $1.5 million due to increasing amounts of loans classified as special mention and substandard.
Preliminary EPS guidance for 2025 is $5.25 per share, excluding the impact of planned stock buybacks.
Bancorp
Bancorp
Forward Guidance
The Bancorp issued preliminary guidance of $5.25 a share for 2025. Guidance for 2024 remains $4.35, which includes the positive impact of buybacks during the year.