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Overview / Commentary
409 Silverside Road
Wilmington, DE 19809

The Bancorp Bank is headquartered in Wilmington and is the 11th largest bank in the state of Delaware. It is also the 228th largest bank in the nation. It was established in 2000 and as of September of 2016, it had grown to 579 employees at 1 location. The Bancorp Bank has a C- health rating.

My Bancorp Experience

Posted by: BriGuy | Nov 15, 2016

I was curious to see how an Internet-only bank worked and, particularly, if I would be satisfied. I use the bank to transfer funds from different sources to my PayPal debit card. A savings account is an option, but I don't have one with them. Overall I'm satisfied. That said:

There is a delay in funds from the source, usually 24-48 hours. The delay has been up to 3 or 4 days a couple of times recently. I guess this is reasonable, but when I spend money from my checking account using my debit card there is no delay. I guess I just don't understand the process between getting my money and a transfer from my account. I imagine they prefer I don't understand. I'm glad money is taken out of my account immediately, I wish money was put in immediately.

The one time I tried to get customer service it was impossible. It turned out the problem I had was with the entity sending money to me and not the bank. But still. . .

Undelivered Debit Card

i didnt recieved my card,its been almost one year

Bancorp Horrible

I received paperwork in the mail saying a previous employer sent my 401 k to Bancorp bank which was transferred into an ira and place in a safe harbor account. I file all the paperwork and followed instructions to close this account. Was told it would take 20 business days to close. After 20 plus business days I called to see if the account had been closed, was informed it had not been closed and they needed more time to close because other customers accounts had to be closed first because first come first served. I never heard this in a business setting before. It appears customers service has no idea whats going on and refuse to allow you to speak to management.I can't understand why a bank would continue to lie to you about closing an account. Now I xan no longer check my balance because my information is not being verified my the automatic system. This is a complete horror story.

Bancorp Safe Harbor IRA-Has To Be Illegal.

My job transferred my 401k here after I parted with the company. Once I was notified that my money was placed with Bancorp I immediately set and paperwork for them to distribute my funds. The experience has been horrible. They tell you to expect to receive your distribution within 20 business days however what they don't tell you is that they don't plan to review your documents till the 20th day. After that they give you a fake excuse as to why they can't distribute your funds such as not being able to see your ID clearly. They ask you to send another copy of your ID in and advise you that it'll be another 20 business days before you can receive your distribution. They continue to do this 20 day process over and over until you give up on receiving your distribution. All the while your money is sitting in Bancorp Safe Harbor IRA account they're making float off of the interest on your money. This has to be illegal. The customer service is pretty awesome if you like talking to robots. I almost feel sorry for them because they have to sit and lie to you abecause company they work for have no intentions of Distributing your funds. I imagine they're being paid very little to be yelled at by customers all day. If you call into customer service to be prepared to hear, " I apologize for your inconvenience" at least 10 times before you hang up the phone.


Additional Factors: Institutions with a small asset base, a short operating history, or negative return on equity can represent an instability risk beyond what their financial ratios indicate. The Bancorp Bank has a negative return on equity.

Health Grade Components

FDIC Certificate #35444
Year Established2000
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD-2.04%
Return on Equity - YTD-29.89%
Annual Interest Income$75.0MM
Assets and Liabilities
AssetsQ3 2016vs Q3 2015$4.20B$4.71B
LoansQ3 2016vs Q3 2015$2.12B$1.93B
DepositsQ3 2016vs Q3 2015$3.78B$4.39B
Equity CapitalQ3 2016vs Q3 2015$326.7MM$299.4MM
Loan Loss AllowanceQ3 2016vs Q3 2015$6.1MM$4.2MM
Unbacked Noncurrent LoansQ3 2016vs Q3 2015$55.0MM$56.5MM
Real Estate OwnedQ3 2016vs Q3 2015$16.2MM$19.5MM

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The Bancorp Bank Locations
The Bancorp Bank409 Silverside RoadWilmington, DE 19809