- 50% increase in diluted earnings per share to $0.15 for the fourth quarter of 2012 versus $0.10 for the fourth quarter of 2011. Diluted earnings per share amounted to $0.50 for the year ended December 31, 2012 compared to diluted earnings per share of $0.28 for the year ended December 31, 2011, an increase of 79%.
- 27% increase in total quarterly revenues to $40.3 million compared to $31.7 million in fourth quarter 2011
- 84% increase in quarterly non-interest income, primarily prepaid card fees, to $15.1 million compared to $8.2 million in fourth quarter 2011, excluding security gains and other than temporary impairment (OTTI) charges.
- 8% increase in quarterly net interest income to $22.1 million compared to $20.4 million in fourth quarter 2011. On a linked quarter basis, net interest income grew at an annualized 10% rate, primarily reflecting higher loan income.
- At December 31, 2012 our portfolio of loans and securities had grown to $2.7 billion, an increase of $466 million, or 21% over fourth quarter 2011. Outstanding loans increased 10% over that period.
- Average deposits for fourth quarter 2012 totaled $3.0 billion, an increase of $274 million or 10% over 2011, reflecting growth in all major deposit categories. The interest paid on deposits between those respective periods decreased to 0.31% from 0.40%.
- Issued $45 million of common stock accretive to book value.
The Bancorp, Inc. ("Bancorp") (NASDAQ: TBBK), a financial holding company, today reported financial results for the fourth quarter and fiscal 2012. Net income for the fourth quarter of 2012 increased to $5.2 million compared to $3.3 million in the fourth quarter of 2011, an increase of 59%. Financial Highlights