Bancorp plans to eliminate 64 jobs in restructuring, takes USD 5.6 million charge

• The Bancorp launched a corporate reorganization tied to its Apex 2030 plan, reshaping priorities, resources, and operating model.
• Small Business Lending will be restructured, with retail and wholesale new originations set to end by late 2026.
• Restructuring cuts 64 filled roles, or 9% of the workforce; 16 additional roles will be vacated without backfill.
• Charges are estimated at USD 5.6 million, with USD 4.5 million expected in Q3.
• Annualized run-rate savings are projected at about USD 14 million, rising above USD 20 million including a 2025 Institutional Banking reorganization.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. The Bancorp Inc. published the original content used to generate this news brief via Business Wire (Ref. ID: 202609041605BIZWIRE_USPR_____20260904_BW778610) on September 04, 2026, and is solely responsible for the information contained therein.