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The Bancorp Bank, N.A. Processed $229MM+ through Its Wholesale Purchase Program

June 07, 2023, 07:10 AM
Filed Under: Industry News

Through its Commercial Lending business, The Bancorp Bank, N.A. (Bank), a wholly owned subsidiary of The Bancorp, Inc. (Company), processed over $229 million of wholesale transactions through its Wholesale Purchase Program. With the inclusion of Wholesale Leasing, the all-encompassing program launched in 2020 and offers bank and non-bank lenders the opportunity to sell individual or portfolios of loans and leases to the Bank to optimize balance sheets and gain liquidity.

 “By implementing the Wholesale Purchase Program, The Bancorp Commercial Lending is uniquely positioned to help financial institutions, and businesses reduce balance sheet risk and free up assets,” said Jeff Nager, Executive Vice President of Commercial Lending. “With our model of buying loans and leases, our partners can retain the servicing of the transaction with their client base and generate the liquidity necessary to move their business forward.”

After its initial success, the program continued to grow, with transactions processed increasing 79 percent over 2021 and 2022. Through the program, the Bank offers a transaction-based sale with no borrower deposit or past lending relationship required. By offering established pricing and exact closing dates, sellers can have a clear view of how much liquidity they will have access to and when all while maintaining control of their client base.

“Our team continually looks for new opportunities to provide our partners with the lending services they need to continue to be successful,” said Tee Shipmon, Director, Wholesale Markets. “The growth we have seen by offering a secondary market indicates a need for this service in the marketplace. With this program, we aim to be a true partner that helps generate liquidity and premiums without fear of competition.”

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