The Bancorp Inc

Shares of The Bancorp fell 21.3% after fintech partner Chime announced an agreement to acquire Stride Bank for $590 million, a deal that would consolidate Chime's banking activities away from The Bancorp. Chime entered a definitive agreement to acquire Stride Bank in an all-cash deal, turning it into a wholly owned subsidiary operating as Chime Bank, N.A. The acquisition lets the neobank accelerate product development, eliminate third-party partner banking fees, and directly scale its lending operations. Because The Bancorp serves as a key banking partner powering Chime's accounts and financial services, the anticipated loss of Chime's business represents a major headwind for the bank's transaction volume and fee revenue. The Bancorp is down 25.6% since the beginning of the year and, at $50.37 per share, trades 37.3% below its 52-week high of $80.34 from October 2025.

The Bancorp Bank, a subsidiary of The Bancorp, Inc., announced the next phase of its Apex 2030 strategic plan, which includes restructuring its Small Business Lending business and discontinuing new originations by the end of 2026. The restructuring will eliminate 64 currently filled positions, representing 9% of the enterprise-wide workforce, and the company expects to incur approximately $5.6 million in charges, with $4.5 million recognized in the third quarter. Additionally, 16 positions will be vacated and not backfilled, bringing total position reductions to 80, which is expected to generate about $14 million in annualized run-rate savings. Combined with prior reorganization efforts, the company anticipates over $20 million in annualized savings. CEO Damian Kozlowski stated that these changes align people, capital, and technology with the company's highest-value opportunities.