$TBBK (BANCORP) — 8-K: The Bancorp cuts 80 positions, sees over $20 million annualized run-rate savings

The Bancorp is restructuring its Small Business Lending business and will discontinue retail and wholesale new originations by the end of 2026. The restructuring eliminates 64 filled positions, or 9% of the workforce, with 16 additional positions vacated and not backfilled. The company estimates approximately $5.6 million in restructuring charges, with $4.5 million expected in the third quarter. Combined with the fourth quarter 2025 Institutional Banking reorganization, expected annualized run-rate savings exceed $20 million.

The Bancorp is restructuring its Small Business Lending business and will discontinue retail and wholesale new originations by the end of 2026. The restructuring eliminates 64 filled positions, or 9% of the workforce, with 16 additional positions vacated and not backfilled. The company estimates approximately $5.6 million in restructuring charges, with $4.5 million expected in the third quarter. Combined with the fourth quarter 2025 Institutional Banking reorganization, expected annualized run-rate savings exceed $20 million.