Press Release

The Bancorp Announces Extension of Its Relationship With Chime

Company Release - 2/20/2020 9:23 AM ET

WILMINGTON, Del.--(BUSINESS WIRE)-- The Bancorp Bank, a wholly owned subsidiary of The Bancorp, Inc. (NASDAQ: TBBK), today announced that it has entered into an extension of its private label banking services agreement with Chime, the leader in U.S. challenger banking.

Under the extended agreement between the two organizations, The Bancorp will continue to be a key banking partner in enabling Chime’s spending and savings accounts, debit card and the ancillary banking services that support those products. The renewal of this relationship reinforces The Bancorp’s position as a leader in providing banking and sponsorship services to the U.S. challenger banking segment.

“The Bancorp and Chime have been partners since the very beginning, and we are thrilled to be able to reaffirm our collective commitment to deliver innovative products and services to Chime members,” said Ryan Harris, EVP and Head of Payments Partnerships at The Bancorp. “Both companies share a common vision of disrupting the traditional banking status-quo and providing banking products that exceed the expectations of today’s banking consumer. We look forward to our continued collaborative innovation, while also meeting the needs of Chime members for years to come,” he concluded.

As technology evolves, it continues to alter how consumers connect with and use their payment accounts. The Bancorp stands out as a trailblazer providing innovative solutions and services.

“The Bancorp has been a critical partner to Chime since the early days,” said Chris Britt, Chime CEO and co-founder. “I look forward to our extended partnership as we continue to innovate and offer free, easy-to-use banking products that help Chime members achieve financial peace of mind.”

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 (U.S.), 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.