Form 8-K - Current report
08 March 2024 - 10:05PM
Edgar (US Regulatory)
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0001295401
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2024-03-04
2024-03-04
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
_________________________________
FORM 8-K
_________________________________
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event
reported): March 4, 2024
_________________________________
The Bancorp, Inc.
(Exact name of registrant as specified in its
charter)
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Delaware |
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000-51018 |
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23-3016517 |
(State or other jurisdiction
of incorporation) |
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(Commission
File Number) |
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(I.R.S. Employer
Identification No.) |
409 Silverside Road
Wilmington, Delaware 19809
(Address of principal registered offices)
(302) 385-5000
(Registrant’s telephone number, including
area code)
N/A
(Former name or former address, if changed
since last report)
Check the appropriate box below if the Form 8-K filing
is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2.
below):
☐ |
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
☐ |
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
☐ |
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
☐ |
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
Title
of each class |
Trading
Symbol(s) |
Name
of each exchange on which registered |
Common Stock, par value $1.00 per share |
TBBK |
NASDAQ Global Select Market |
Indicate by check mark whether the registrant is an emerging growth
company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange
Act of 1934 (17 CFR §240.12b-2). Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant
has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant
to Section 13(a) of the Exchange Act. ☐
Item 4.01. Change in Registrant’s Certifying Accountant
On March 4, 2024, the Audit Committee (the “Audit
Committee”) of the Board of Directors of The Bancorp, Inc. (the “Company”) appointed Crowe LLP (“Crowe”)
as the Company’s independent registered public accounting firm for the year ending December 31, 2024, to be effective upon the execution
of an engagement letter and related completion of Crowe’s standard client acceptance procedures, including independence procedures.
During the fiscal years ended December 31, 2023 and 2022, and the subsequent interim period through the date of this report, neither the
Company nor anyone on its behalf consulted with Crowe regarding: (i) the application of accounting principles to a specified transaction,
either completed or proposed, nor the type of audit opinion that might be rendered on the Company’s financial statements, and neither
a written report was provided to the Company nor oral advice provided that Crowe concluded was an important factor considered by the Company
in reaching a decision as to any accounting, auditing or financial reporting issue; or (ii) any matter that was the subject of a disagreement
or a “reportable event” as described in Items 304(a)(1)(iv) and (v), respectively, of Regulation S-K.
In connection with the appointment of Crowe, on
March 4, 2024, the Audit Committee dismissed Grant Thornton LLP (“Grant Thornton”) as the Company’s independent registered
public accounting firm effective immediately. Grant Thornton’s audit reports on the Company’s consolidated financial statements
as of and for the years ended December 31, 2023 and 2022 did not contain any adverse opinion or disclaimer of opinion, nor were they qualified
or modified as to uncertainty, audit scope, or accounting principles. During the fiscal years ended December 31, 2023 and 2022, and the
subsequent interim period through the date of this report, there were: (i) no disagreements within the meaning of Item 304(a)(1)(iv) of
Regulation S-K and the related instructions between the Company and Grant Thornton on any matters of accounting principles or practices,
financial statement disclosure, or auditing scope or procedure which, if not resolved to Grant Thornton’s satisfaction, would have
caused Grant Thornton to make reference thereto in its reports; and (ii) no “reportable events” within the meaning of Item
304(a)(1)(v) of Regulation S-K.
The Company has requested that Grant Thornton
furnish a letter addressed to the Securities and Exchange Commission stating whether or not it agrees with the statements in the preceding
paragraph. A copy of Grant Thornton’s letter, dated March 8, 2024 is filed as Exhibit 16.1 to this Form 8-K.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
SIGNATURE
Pursuant to the requirements of the Securities
Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly
authorized.
Dated: March 8, 2024
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The Bancorp, Inc. |
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By: |
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/s/ Paul Frenkiel |
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Name: |
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Paul Frenkiel |
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Title: |
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Chief Financial Officer and Corporate Secretary |
Exhibit 16.1
March 8, 2024
U.S. Securities and Exchange Commission
Office of the Chief Accountant
100 F Street, NE
Washington, DC 20549 |
|
|
Re: The Bancorp, Inc.
File No. 000-51018
Dear Sir or Madam:
We have read Item 4.01 of Form 8-K of The Bancorp, Inc. dated
March 8, 2024, and agree with the statements concerning our Firm contained therein.
Very truly yours,
/s/ GRANT THORNTON LLP
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