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Bancorp, Inc. – ‘10-K’ for 12/31/19 – ‘R33’

On:  Friday, 3/13/20, at 7:04pm ET   ·   As of:  3/16/20   ·   For:  12/31/19   ·   Accession #:  1295401-20-25   ·   File #:  0-51018

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  As Of               Filer                 Filing    For·On·As Docs:Size

 3/16/20  Bancorp, Inc.                     10-K       12/31/19  126:30M

Annual Report   —   Form 10-K   —   Sect. 13 / 15(d) – SEA’34
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-K        Annual Report                                       HTML   2.82M 
 2: EX-21.1     Subsidiaries List                                   HTML     32K 
 3: EX-23.1     Consent of Experts or Counsel                       HTML     37K 
 4: EX-31.1     Certification -- §302 - SOA'02                      HTML     40K 
 5: EX-31.2     Certification -- §302 - SOA'02                      HTML     42K 
 6: EX-32.1     Certification -- §906 - SOA'02                      HTML     38K 
 7: EX-32.2     Certification -- §906 - SOA'02                      HTML     38K 
79: R1          Document and Entity Information                     HTML     98K 
31: R2          Consolidated Balance Sheets                         HTML    136K 
52: R3          Consolidated Balance Sheets (Parenthetical)         HTML     50K 
114: R4          Consolidated Statements of Operations               HTML    216K  
77: R5          Consolidated Statements of Comprehensive Income     HTML     79K 
29: R6          Consolidated Statement of Changes in Shareholders'  HTML     87K 
                Equity                                                           
50: R7          Consolidated Statements of Cash Flows               HTML    187K 
118: R8          Organization and Nature of Operations               HTML     40K  
71: R9          Summary of Significant Accounting Policies          HTML    406K 
104: R10         Subsequent Events                                   HTML     37K  
90: R11         Investment Securities                               HTML    440K 
15: R12         Loans                                               HTML    823K 
57: R13         Premises And Equipment                              HTML     64K 
103: R14         Time Deposits                                       HTML     46K  
89: R15         Variable Interest Entity (Vie)                      HTML    143K 
14: R16         Debt                                                HTML     90K 
56: R17         Shareholders' Equity                                HTML     38K 
102: R18         Benefit Plans                                       HTML     42K  
91: R19         Income Taxes                                        HTML    167K 
39: R20         Stock-Based Compensation                            HTML    140K 
55: R21         Transactions With Affiliates                        HTML     42K 
126: R22         Commitments And Contingencies                       HTML     62K  
86: R23         Financial Instruments With Off-Balance-Sheet Risk   HTML     54K 
                And Concentrations Of Credit Risk                                
38: R24         Fair Value Of Financial Instruments                 HTML    577K 
54: R25         Derivatives                                         HTML     69K 
125: R26         Regulatory Matters                                  HTML    260K  
85: R27         Quarterly Financial Data (Unaudited)                HTML    175K 
40: R28         Condensed Financial Information-Parent Only         HTML    156K 
53: R29         Segment Financials                                  HTML    255K 
58: R30         Discontinued Operations                             HTML     85K 
17: R31         Summary of Significant Accounting Policies          HTML    459K 
                (Policies)                                                       
87: R32         Summary of Significant Accounting Policies          HTML    313K 
                (Tables)                                                         
100: R33         Investment Securities (Tables)                      HTML    434K  
59: R34         Loans (Tables)                                      HTML    809K 
18: R35         Premises And Equipment (Tables)                     HTML     62K 
88: R36         Time Deposits (Tables)                              HTML     44K 
101: R37         Variable Interest Entity (Vie) (Tables)             HTML    141K  
60: R38         Debt (Tables)                                       HTML     82K 
16: R39         Income Taxes (Tables)                               HTML    169K 
41: R40         Stock-Based Compensation (Tables)                   HTML    129K 
27: R41         Commitments And Contingencies (Tables)              HTML     47K 
80: R42         Financial Instruments With Off-Balance-Sheet Risk   HTML     47K 
                And Concentrations Of Credit Risk (Tables)                       
123: R43         Fair Value of Financial Instruments (Tables)        HTML    569K  
42: R44         Derivatives (Tables)                                HTML     64K 
28: R45         Regulatory Matters (Tables)                         HTML    240K 
81: R46         Quarterly Financial Data (Unaudited) (Tables)       HTML    173K 
124: R47         Condensed Financial Information-Parent Only         HTML    155K  
                (Tables)                                                         
43: R48         Segment Financials (Tables)                         HTML    254K 
26: R49         Discontinued Operations (Tables)                    HTML     83K 
20: R50         Summary of Significant Accounting Policies          HTML    180K 
                (Narrative) (Details)                                            
63: R51         Summary of Significant Accounting Policies          HTML     91K 
                (Earnings Per Share) (Details)                                   
112: R52         Summary of Significant Accounting Policies          HTML     45K  
                (Summary Of Gross Carrying Value And Accumulated                 
                Amortization Related To The Company's Intangible                 
                Items) (Details)                                                 
99: R53         Summary of Significant Accounting Policies          HTML     51K 
                (Schedule Of Approximate Future Annual                           
                Amortization Of The Company's Intangible Items)                  
                (Details)                                                        
19: R54         Summary of Significant Accounting Policies          HTML     56K 
                (Scheduled Maturities of Direct Financing Leases)                
                (Details)                                                        
62: R55         Investment Securities (Narrative) (Details)         HTML     61K 
111: R56         Investment Securities (Schedule Of Investment       HTML     91K  
                Securities Classified As Available-for-sale And                  
                Held-to-maturity) (Details)                                      
98: R57         Investment Securities (Amortized Cost And Fair      HTML     81K 
                Value Of Investment Securities By Contractual                    
                Maturity) (Details)                                              
21: R58         Investment Securities (Available-for-sale And       HTML    115K 
                Held-to-maturity Securities, Continuous Unrealized               
                Loss Position) (Details)                                         
61: R59         Loans (Narrative) (Details)                         HTML     82K 
122: R60         Loans (Major Classifications Of Loans) (Details)    HTML     72K  
75: R61         Loans (Schedule Of Small Business Administration    HTML     41K 
                Loans and Held For Sale) (Details)                               
36: R62         Loans (Impaired Loans) (Details)                    HTML    105K 
48: R63         Loans (Non-accrual Loans, Loans Past Due 90 Days    HTML     57K 
                And Other Real Estate Owned And Delinquent Loans                 
                By Loan Category) (Details)                                      
117: R64         Loans (Loans Modified And Considered Troubled Debt  HTML     51K  
                Restructurings) (Details)                                        
70: R65         Loans (Loans Modified As Troubled Debt              HTML     46K 
                Restructurings) (Details)                                        
32: R66         Loans (Summary Of Restructured Loans Within The     HTML     41K 
                Last Twelve Months That Have Subsequently                        
                Defaulted) (Details)                                             
44: R67         Loans (Changes In Allowance For Loan And Lease      HTML    106K 
                Losses By Loan Category) (Details)                               
115: R68         Loans (Delinquent Loans By Loan Category)           HTML     93K  
                (Details)                                                        
78: R69         Loans (Loans By Categories) (Details)               HTML    144K 
94: R70         Premises And Equipment (Narrative) (Details)        HTML     37K 
105: R71         Premises And Equipment (Premises And Equipment)     HTML     62K  
                (Details)                                                        
65: R72         Time Deposits (Scheduled Maturities of Time         HTML     39K 
                Deposits) (Details)                                              
22: R73         Variable Interest Entity (Vie) (Schedule Of The     HTML     82K 
                Total Unpaid Principal Amount Of Assets Held In                  
                Private Label Securitization Entities, Including                 
                Those In Which The Company Has Continuing                        
                Involvement) (Details)                                           
97: R74         Debt (Narrative) (Details)                          HTML     66K 
108: R75         Debt (Schedule Of Short-term Debt) (Details)        HTML     45K  
68: R76         Debt (Schedule Of Securities Sold Under Agreements  HTML     47K 
                To Repurchase) (Details)                                         
25: R77         Shareholders' Equity (Details)                      HTML     43K 
92: R78         Benefit Plans (Details)                             HTML     64K 
109: R79         Income Taxes (Narrative) (Details)                  HTML     42K  
95: R80         Income Taxes (Schedule Of Components Of The Income  HTML     62K 
                Taxes (Benefit)) (Details)                                       
106: R81         Income Taxes (Schedule Of Income Tax Expenses And   HTML     72K  
                Statutory Federal Income Tax Rate) (Details)                     
66: R82         Income Taxes (Schedule Of Deferred Tax Assets And   HTML     80K 
                Liabilities) (Details)                                           
23: R83         Income Taxes (Reconciliation Of Unrecognized Tax    HTML     40K 
                Benefits) (Details)                                              
96: R84         Stock-Based Compensation (Narrative) (Details)      HTML    115K 
107: R85         Stock-Based Compensation (Summary Of Status Of      HTML     84K  
                Company's Equity Compensations Plans) (Details)                  
67: R86         Stock-Based Compensation (Summary Of The Company?s  HTML     69K 
                Restricted Stock Units) (Details)                                
24: R87         Stock-Based Compensation (Schedule Of Nonvested     HTML     55K 
                Options Status) (Details)                                        
93: R88         Stock-Based Compensation (Fair Value Of Grant On    HTML     47K 
                Date Of Grant Using The Black-Scholes Options                    
                Pricing Model) (Details)                                         
110: R89         Transactions With Affiliates (Details)              HTML     59K  
120: R90         Commitments And Contingencies (Narrative)           HTML     44K  
                (Details)                                                        
73: R91         Commitments And Contingencies (Schedule Of Future   HTML     55K 
                Minimum Annual Rental Payments) (Details)                        
35: R92         Financial Instruments With Off-Balance-Sheet Risk   HTML     37K 
                And Concentrations Of Credit Risk (Narrative)                    
                (Details)                                                        
47: R93         Financial Instruments With Off-Balance-Sheet Risk   HTML     42K 
                And Concentrations Of Credit Risk (Schedule Of                   
                Contract Amounts And Maturity Term Of Credit                     
                Commitment) (Details)                                            
119: R94         Fair Value of Financial Instruments (Narrative)     HTML     70K  
                (Details)                                                        
72: R95         Fair Value of Financial Instruments (Carrying       HTML     86K 
                Amount And Estimated Fair Value Of Assets And                    
                Liabilities) (Details)                                           
34: R96         Fair Value of Financial Instruments (Assets         HTML     93K 
                Measured At Fair Value On A Recurring And                        
                Nonrecurring Basis) (Details)                                    
46: R97         Fair Value of Financial Instruments (Changes In     HTML     78K 
                Company's Level 3 Assets) (Details)                              
113: R98         Fair Value of Financial Instruments (Fair Value     HTML    111K  
                Inputs, Assets, Quantitative Information)                        
                (Details)                                                        
76: R99         Derivatives (Narrative) (Details)                   HTML     56K 
37: R100        Derivatives (Derivatives) (Details)                 HTML     63K 
49: R101        Regulatory Matters (Narrative) (Details)            HTML     48K 
121: R102        Regulatory Matters (Schedule Of Compliance With     HTML    104K  
                Regulatory Capital Requirements Under Banking                    
                Regulations) (Details)                                           
74: R103        Quarterly Financial Data (Unaudited) (Details)      HTML    103K 
33: R104        Condensed Financial Information-Parent Only         HTML     67K 
                (Schedule Of Condensed Balance Sheet) (Details)                  
45: R105        Condensed Financial Information-Parent Only         HTML     73K 
                (Schedule Of Condensed Statements Of Operations)                 
                (Details)                                                        
116: R106        Condensed Financial Information-Parent Only         HTML     97K  
                (Schedule Of Condensed Cash Flow Statement)                      
                (Details)                                                        
69: R107        Segment Financials (Narrative) (Details)            HTML     36K 
30: R108        Segment Financials (Operating Segments) (Details)   HTML    119K 
51: R109        Discontinued Operations (Narrative) (Details)       HTML     60K 
64: R110        Discontinued Operations (Financial Results Of The   HTML     73K 
                Commercial Lending Business Included In Net Income               
                (Loss) From Discontinued Operations) (Details)                   
82: XML         IDEA XML File -- Filing Summary                      XML    248K 
84: EXCEL       IDEA Workbook of Financial Reports                  XLSX    188K 
 8: EX-101.INS  XBRL Instance -- tbbk-20191231                       XML   9.64M 
10: EX-101.CAL  XBRL Calculations -- tbbk-20191231_cal               XML    424K 
11: EX-101.DEF  XBRL Definitions -- tbbk-20191231_def                XML   1.16M 
12: EX-101.LAB  XBRL Labels -- tbbk-20191231_lab                     XML   2.59M 
13: EX-101.PRE  XBRL Presentations -- tbbk-20191231_pre              XML   1.90M 
 9: EX-101.SCH  XBRL Schema -- tbbk-20191231                         XSD    331K 
83: ZIP         XBRL Zipped Folder -- 0001295401-20-000025-xbrl      Zip    463K 


‘R33’   —   Investment Securities (Tables)


This is an IDEA Financial Report.  [ Alternative Formats ]



 
v3.20.1
Investment Securities (Tables)
12 Months Ended
Investment Securities [Abstract]  
Schedule Of Investment Securities Classified As Available-for-sale And Held-to-maturity



 

 

 

 

 

 

 

 

Available-for-sale

 

December 31, 2019



 

 

 

Gross

 

Gross

 

 



 

Amortized

 

unrealized

 

unrealized

 

Fair



 

cost

 

gains

 

losses

 

value

U.S. Government agency securities

 

$              52,415 

 

$                   672 

 

$                   (177)

 

$              52,910 

Asset-backed securities *

 

244,751 

 

132 

 

(534)

 

244,349 

Tax-exempt obligations of states and political subdivisions

 

5,174 

 

144 

 

 -

 

5,318 

Taxable obligations of states and political subdivisions

 

58,258 

 

1,992 

 

 -

 

60,250 

Residential mortgage-backed securities

 

335,068 

 

2,629 

 

(1,101)

 

336,596 

Collateralized mortgage obligation securities

 

221,109 

 

1,826 

 

(208)

 

222,727 

Commercial mortgage-backed securities

 

394,852 

 

3,836 

 

(146)

 

398,542 



 

$         1,311,627 

 

$              11,231 

 

$                (2,166)

 

$         1,320,692 









 

 

 

 

 

 

 

 



 

December 31, 2019



 

 

 

Gross

 

Gross

 

 



 

Amortized

 

unrealized

 

unrealized

 

Fair

* Asset-backed securities as shown above

 

cost

 

gains

 

losses

 

value

Federally insured student loan securities

 

$              33,852 

 

$                     10 

 

$                   (323)

 

$              33,539 

Collateralized loan obligation securities

 

210,899 

 

122 

 

(211)

 

210,810 



 

$            244,751 

 

$                   132 

 

$                   (534)

 

$            244,349 







 

 

 

 

 

 

 

 

Held-to-maturity

 

December 31, 2019



 

 

 

Gross

 

Gross

 

 



 

Amortized

 

unrealized

 

unrealized

 

Fair



 

cost

 

gains

 

losses

 

value

Other debt securities - single issuers

 

$                9,219 

 

$                        - 

 

$                (2,067)

 

$                7,152 

Other debt securities - pooled

 

75,168 

 

682 

 

 -

 

75,850 



 

$              84,387 

 

$                   682 

 

$                (2,067)

 

$              83,002 







 

 

 

 

 

 

 

 

Available-for-sale

 

December 31, 2018



 

 

 

Gross

 

Gross

 

 



 

Amortized

 

unrealized

 

unrealized

 

Fair



 

cost

 

gains

 

losses

 

value

U.S. Government agency securities

 

$              54,095 

 

$                   146 

 

$                   (879)

 

$              53,362 

Asset-backed securities *

 

189,850 

 

104 

 

(1,352)

 

188,602 

Tax-exempt obligations of states and political subdivisions

 

7,546 

 

50 

 

(45)

 

7,551 

Taxable obligations of states and political subdivisions

 

60,152 

 

803 

 

(520)

 

60,435 

Residential mortgage-backed securities

 

377,199 

 

648 

 

(8,106)

 

369,741 

Collateralized mortgage obligation securities

 

265,914 

 

287 

 

(3,994)

 

262,207 

Commercial mortgage-backed securities

 

300,143 

 

190 

 

(5,907)

 

294,426 



 

$         1,254,899 

 

$                2,228 

 

$              (20,803)

 

$         1,236,324 







 

 

 

 

 

 

 

 



 

December 31, 2018



 

 

 

Gross

 

Gross

 

 



 

Amortized

 

unrealized

 

unrealized

 

Fair

* Asset-backed securities as shown above

 

cost

 

gains

 

losses

 

value

Federally insured student loan securities

 

$              59,705 

 

$                     87 

 

$                   (283)

 

$              59,509 

Collateralized loan obligation securities

 

125,045 

 

 -

 

(1,069)

 

123,976 

Other

 

5,100 

 

17 

 

 -

 

5,117 



 

$            189,850 

 

$                   104 

 

$                (1,352)

 

$            188,602 







 

 

 

 

 

 

 

 

Held-to-maturity

 

December 31, 2018



 

 

 

Gross

 

Gross

 

 



 

Amortized

 

unrealized

 

unrealized

 

Fair



 

cost

 

gains

 

losses

 

value

Other debt securities - single issuers

 

$                9,168 

 

$                        - 

 

$                (1,890)

 

$                7,278 

Other debt securities - pooled

 

75,264 

 

849 

 

 -

 

76,113 



 

$              84,432 

 

$                   849 

 

$                (1,890)

 

$              83,391 



Amortized Cost And Fair Value Of Investment Securities By Contractual Maturity



 

 

 

 

 

 

 

 



 

Available-for-sale

 

Held-to-maturity



 

Amortized

 

Fair

 

Amortized

 

Fair



 

cost

 

value

 

cost

 

value

Due before one year

 

$                6,853 

 

$                6,856 

 

$                        - 

 

$                        - 

Due after one year through five years

 

83,690 

 

85,246 

 

 -

 

 -

Due after five years through ten years

 

236,008 

 

239,505 

 

 -

 

 -

Due after ten years

 

985,076 

 

989,085 

 

84,387 

 

83,002 



 

$         1,311,627 

 

$         1,320,692 

 

$              84,387 

 

$              83,002 



Available-for-sale And Held-to-maturity Securities, Continuous Unrealized Loss Position

The table below indicates the length of time individual securities had been in a continuous unrealized loss position at December 31, 2019 (in thousands):







 

 

 

 

 

 

 

 

 

 

 

 

 

 

Available-for-sale

 

 

 

Less than 12 months

 

12 months or longer

 

Total



 

Number of securities

 

Fair Value

 

Unrealized losses

 

Fair Value

 

Unrealized losses

 

Fair Value

 

Unrealized losses

Description of Securities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Government agency securities

 

5

 

$              12,214 

 

$                     (44)

 

$                3,986 

 

$                       (133)

 

$              16,200 

 

$                (177)

Asset-backed securities

 

28

 

115,909 

 

(275)

 

56,427 

 

(260)

 

172,336 

 

(535)

Residential mortgage-backed securities

 

64

 

58,682 

 

(114)

 

73,311 

 

(987)

 

131,993 

 

(1,101)

Collateralized mortgage obligation securities

 

22

 

37,387 

 

(85)

 

18,136 

 

(123)

 

55,523 

 

(208)

Commercial mortgage-backed securities

 

4

 

35,095 

 

(129)

 

3,162 

 

(16)

 

38,257 

 

(145)

Total temporarily impaired

 

 

 

 

 

 

 

 

 

 

 

 

 

 

     investment securities

 

123

 

$            259,287 

 

$                   (647)

 

$            155,022 

 

$                    (1,519)

 

$            414,309 

 

$             (2,166)







 

 

 

 

 

 

 

 

 

 

 

 

 

 

Held-to-maturity

 

 

 

Less than 12 months

 

12 months or longer

 

Total



 

Number of securities

 

Fair Value

 

Unrealized losses

 

Fair Value

 

Unrealized losses

 

Fair Value

 

Unrealized losses

Description of Securities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Single issuers

 

1

 

$                      - 

 

$                        - 

 

$              7,152 

 

$                    (2,067)

 

$                7,152 

 

$             (2,067)

Total temporarily impaired

 

 

 

 

 

 

 

 

 

 

 

 

 

 

     investment securities

 

1

 

$                      - 

 

$                        - 

 

$              7,152 

 

$                    (2,067)

 

$                7,152 

 

$             (2,067)



The table below indicates the length of time individual securities had been in a continuous unrealized loss position at December 31, 2018 (in thousands):







 

 

 

 

 

 

 

 

 

 

 

 

 

 

Available-for-sale

 

 

 

Less than 12 months

 

12 months or longer

 

Total



 

Number of securities

 

Fair Value

 

Unrealized losses

 

Fair Value

 

Unrealized losses

 

Fair Value

 

Unrealized losses

Description of Securities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Government agency securities

 

10

 

$                  679 

 

$                      (2)

 

$             41,719 

 

$                       (877)

 

$              42,398 

 

$                (879)

Asset-backed securities

 

26

 

148,753 

 

(1,230)

 

11,506 

 

(122)

 

160,259 

 

(1,352)

Tax-exempt obligations of states and

 

 

 

 

 

 

 

 

 

 

 

 

 

 

     political subdivisions

 

3

 

 -

 

 -

 

3,625 

 

(45)

 

3,625 

 

(45)

Taxable obligations of states and

 

 

 

 

 

 

 

 

 

 

 

 

 

 

     political subdivisions

 

22

 

4,492 

 

(19)

 

35,599 

 

(501)

 

40,091 

 

(520)

Residential mortgage-backed securities

 

118

 

17,168 

 

(49)

 

302,407 

 

(8,057)

 

319,575 

 

(8,106)

Collateralized mortgage obligation securities

 

44

 

1,522 

 

(3)

 

193,355 

 

(3,991)

 

194,877 

 

(3,994)

Commercial mortgage-backed securities

 

26

 

121,860 

 

(2,020)

 

151,453 

 

(3,887)

 

273,313 

 

(5,907)

Total temporarily impaired

 

 

 

 

 

 

 

 

 

 

 

 

 

 

     investment securities

 

249

 

$           294,474 

 

$               (3,323)

 

$           739,664 

 

$                  (17,480)

 

$         1,034,138 

 

$           (20,803)



 

 

 

 

 

 

 

 

 

 

 

 

 

 







 

 

 

 

 

 

 

 

 

 

 

 

 

 

Held-to-maturity

 

 

 

Less than 12 months

 

12 months or longer

 

Total



 

Number of securities

 

Fair Value

 

Unrealized losses

 

Fair Value

 

Unrealized losses

 

Fair Value

 

Unrealized losses

Description of Securities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Single issuers

 

1

 

$                      - 

 

$                        - 

 

$              7,278 

 

$                    (1,890)

 

$                7,278 

 

$             (1,890)

Total temporarily impaired

 

 

 

 

 

 

 

 

 

 

 

 

 

 

     investment securities

 

1

 

$                      - 

 

$                        - 

 

$              7,278 

 

$                    (1,890)

 

$                7,278 

 

$             (1,890)




Dates Referenced Herein   and   Documents Incorporated by Reference

This ‘10-K’ Filing    Date    Other Filings
Filed as of:3/16/20
Filed on:3/13/20
For Period end:12/31/19
12/31/1810-K
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