Press Release

The Bancorp Appoints New Chief Risk Officer and Chief Compliance Officer

Company Release - 12/17/2019 9:07 AM ET

Addition of Banking Veterans Contribute to Strategic Growth

WILMINGTON, Del.--(BUSINESS WIRE)-- The Bancorp, Inc. (NASDAQ: TBBK) announces the addition of two new officers who bring experience and expertise to The Bancorp’s risk management infrastructure. Joining The Bancorp are Michael Althouse, and Keith D. Owes, both under the leadership of Greg Garry, Executive Vice President and Chief Operating Officer.

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Michael Althouse, Managing Director, Chief Compliance Officer (Photo: Business Wire)

Michael Althouse, Managing Director, Chief Compliance Officer (Photo: Business Wire)

Althouse serves as Managing Director, Chief Compliance Officer (CCO), and is responsible for ensuring effective implementation of the Bank’s Compliance Management System. He brings a successful track record of compliance experience spanning nearly 20 years. Most recently, he held the role of Deputy Chief Compliance Officer and Head of Compliance Advisory at Barclays US Consumer Bank in Wilmington. Prior positions include various compliance leadership roles at PayPal, Capital One, and First Capital Bank.

Keith D. Owes joins The Bancorp as Managing Director, Chief Risk Officer (CRO) responsible for Enterprise Risk Management, Third-Party Risk Management, Cyber Security, and Regulatory Affairs functions. He brings extensive experience in risk and business control, most recently serving as Risk & Business Control Executive within Global Technology and Operations at Bank of America. Owes also spent time in various wealth management, risk, and governance leadership roles at Merrill Lynch.

“Mike and Keith are key additions who bring comprehensive expertise that will enhance the development of the Company’s Compliance and Risk teams,” said Greg Garry, COO. “Their demonstrated track records in large, complex institutions give us greater capacity to drive The Bancorp strategic agenda.”

About The Bancorp

The Bancorp, Inc. (NASDAQ: TBBK) is dedicated to serving the unique needs of non-bank financial service companies, ranging from entrepreneurial start-ups to those on the Fortune 500. The company’s subsidiary, The Bancorp Bank (Member FDIC, Equal Housing Lender), has been repeatedly recognized in the payments industry as the Top Issuer of Prepaid Cards (US), a top merchant sponsor bank and a top ACH originator. Specialized lending distinctions include SBA National Preferred Lender, a leading provider of securities-backed lines of credit, and one of the few bank-owned commercial vehicle leasing groups in the nation. For more information please visit www.thebancorp.com.

Media Relations
Rachel Weiss, VP Communications Manager
(302) 385-5410
rweiss@thebancorp.com

Investor Relations
Andres Viroslav, Director of Investor Relations
(215) 861-7990
aviroslav@thebancorp.com

Source: The Bancorp, Inc.