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Stock impact report

The Bancorp Bank Announces Transfer of Safe Harbor IRA Accounts Portfolio to Millennium Trust Company

The Bancorp, Inc. (TBBK) 
Last the bancorp, inc. earnings: 4/30 04:05 pm Check Earnings Report
US:NASDAQ Investor Relations: investors.thebancorp.com
Company Research Source: Business Wire
WILMINGTON, Del.--(BUSINESS WIRE)-- The Bancorp, Inc. (NASDAQ: TBBK) announces that its wholly owned subsidiary, The Bancorp Bank, has entered into an agreement to transfer all of its rights and obligations as custodian and trustee of its Safe Harbor IRA account portfolio to Millennium Trust Company, a leading provider of retirement and custody services. The transaction, which includes approximately 160,000 individual retirement accounts totaling more than $400 million in deposits with respect to which Millenium Trust will become the successor custodian, allows both companies to focus on growth within their respective areas of expertise. The transaction price is $65 million. “We are pleased with this transaction which allows The Bancorp to focus on our core business growth and development,” said Damian Kozlowski, Chief Executive Officer of The Bancorp, Inc. and President of The Bancorp Bank, “and Show less Read more
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