Core Viewpoint - The Bancorp, Inc. has failed to meet its self-imposed deadline to restate its financial reports, leading to a Nasdaq non-compliance notice and heightened investor concerns due to an ongoing securities class action lawsuit [1][2]. Financial Reporting Issues - The company initially indicated it would file its delayed Annual Report within a 15-day extension but has not provided an explanation for the failure as of March 31, 2025 [2][4]. - On March 4, 2025, Bancorp announced that the financial statements for the fiscal years ended December 31, 2022, through 2024 should no longer be relied upon, invalidating three years of financial reporting [3][4]. - The company is working on additional procedures related to accounting for consumer fintech loans in its allowance for credit losses, but neither its former auditor, Grant Thornton LLP, nor its current auditor, Crowe LLP, has provided final approval for the audit opinions [4]. Legal and Investor Concerns - The March 4 disclosure led to a securities class action complaint alleging that Bancorp made false and misleading statements while failing to disclose crucial information to investors [5]. - The class action lawsuit seeks to represent investors who purchased Bancorp securities between January 25, 2024, and March 4, 2025, with a lead plaintiff deadline set for May 16, 2025 [3][5]. - Hagens Berman, a prominent shareholder rights firm, is investigating the claims against Bancorp, focusing on whether the financial statements accurately reflected the true state of its loan portfolios [8]. Financial Performance and Risks - Bancorp reported disappointing Q3 2024 financial results, attributing the issues to a new CECL factor and underestimating the risk of default on its real estate bridge loan portfolio [6]. - The company acknowledged material weaknesses in its internal control over financial reporting and indicated that its financial statements could not be relied upon by investors [6][7].

Core Viewpoint - A lawsuit has been filed against The Bancorp, Inc. and certain senior executives for potential violations of federal securities laws, specifically related to misrepresentations regarding the company's loan portfolio and internal controls [1][2][4]. Group 1: Lawsuit Details - The lawsuit is pending in the U.S. District Court for the District of Delaware, captioned Linden v. The Bancorp, Inc., et al., No. 25-cv-00326, with investors having until May 16, 2025, to seek lead plaintiff status [2]. - The complaint asserts claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 on behalf of investors who purchased Bancorp stock [2]. Group 2: Company Background - Bancorp is a financial holding company involved in institutional banking, commercial real estate bridge lending, small business lending, and commercial fleet leasing, with its REBL loans primarily collateralized by apartment buildings [3]. Group 3: Allegations of Misrepresentation - The complaint alleges that Bancorp misrepresented the risks associated with its REBL loan portfolio and that its credit loss methodology was inadequate, failing to account for potential credit losses [4]. - It is claimed that Bancorp misrepresented the effectiveness of its internal controls over financial reporting, which contained at least one material weakness [4]. Group 4: Stock Performance and Market Reaction - Following a report from Culper Research on March 21, 2024, which highlighted the risks of default in Bancorp's REBL loans, the stock price fell over 10%, from $36.04 to $32.12 [5]. - On October 24, 2024, Bancorp reported a net income of $51.5 million, leading to a 14% decline in stock price from $54.96 to $47.01 due to increased credit losses [6]. - On March 4, 2025, Bancorp disclosed issues with its Annual Report for the fiscal year ended December 31, 2024, causing a 4.4% drop in stock price from $53.59 to $51.25 [7].

Core Viewpoint - Chain Bridge Bancorp, Inc. (CBNA) has seen a 0.7% increase in share price over the past four weeks, closing at $23.72, with a potential upside of 25.1% based on Wall Street analysts' mean price target of $29.67 [1] Price Targets - The average price targets from analysts range from a low of $26 to a high of $34, with a standard deviation of $4.04, indicating variability in estimates [2] - The lowest estimate suggests a 9.6% increase from the current price, while the highest estimate indicates a 43.3% upside [2] Analyst Consensus and Earnings Estimates - Analysts are optimistic about CBNA's earnings prospects, with a consensus indicating better earnings than previously estimated, which historically correlates with stock price increases [4][10] - Over the last 30 days, the Zacks Consensus Estimate for the current year has risen by 10.1%, with one estimate moving higher and no negative revisions [11] Zacks Rank - CBNA holds a Zacks Rank 1 (Strong Buy), placing it in the top 5% of over 4,000 ranked stocks based on earnings estimate factors, suggesting strong potential for near-term upside [12]

Core Viewpoint - The Bancorp, Inc. has failed to meet its self-imposed deadline to restate its financial reports, leading to a Nasdaq non-compliance notice and heightened investor concerns due to an ongoing securities class action lawsuit [1][2]. Financial Reporting Issues - The company initially indicated it would file its delayed Annual Report within a 15-day extension but has not provided an explanation for the failure as of March 31, 2025 [2][4]. - On March 4, 2025, Bancorp announced that the financial statements for the fiscal years ended December 31, 2022, through 2024 should no longer be relied upon, invalidating three years of financial reporting [3][4]. - The company is working on additional procedures related to accounting for consumer fintech loans in its allowance for credit losses, but neither its former auditor nor its current auditor has provided final approval for the audit opinions [4]. Legal and Investor Concerns - A securities class action lawsuit has been filed against Bancorp, alleging false and misleading statements while failing to disclose crucial information to investors [5]. - The class period for the lawsuit is from January 25, 2024, to March 4, 2025, with a lead plaintiff deadline set for May 16, 2025 [3]. - Hagens Berman, a shareholder rights firm, is investigating whether Bancorp's financial statements accurately reflected the state of its loan portfolios and adherence to accounting standards [8]. Historical Context - A report by short-seller Culper Research on March 21, 2024, accused Bancorp of misrepresenting the quality of its real estate bridge loan portfolio and under-reserving for potential loan losses [5][6]. - In Q3 2024, Bancorp reported disappointing financial results, attributing a $1.5 million after-tax reduction in net income to a new current expected credit loss factor and an additional $1.2 million reduction due to prior period interest income reversals [7].

Core Viewpoint - A securities class action lawsuit has been filed against The Bancorp, Inc. for allegedly misleading investors regarding the risks associated with its real estate bridge loans portfolio and its financial reporting practices [1][3]. Group 1: Lawsuit Details - The lawsuit was filed in the United States District Court for the District of Delaware on behalf of investors who acquired Bancorp securities between January 25, 2024, and March 4, 2025 [1]. - The deadline for investors to seek lead plaintiff status is May 16, 2025 [1][4]. Group 2: Allegations Against Bancorp - The complaint alleges that Bancorp underrepresented the risk of default on its real estate bridge loans portfolio [3]. - It claims that Bancorp's expected credit loss methodology was inadequate, leading to a likely increase in provisions for credit losses [3]. - The lawsuit also states that there were material weaknesses in Bancorp's internal controls over financial reporting and that its financial statements lacked independent auditor approval [3]. - As a result of these issues, the positive statements made by Bancorp regarding its business and prospects were deemed misleading [3]. Group 3: Legal Process for Investors - Investors can seek to be appointed as lead plaintiffs through Kessler Topaz Meltzer & Check, LLP or other counsel, or they may choose to remain absent class members [4]. - The lead plaintiff will represent the interests of all class members and select counsel for the litigation [4].

NEW YORK, April 01, 2025 (GLOBE NEWSWIRE) -- Leading securities law firm Bleichmar Fonti & Auld LLP announces that a lawsuit has been filed against The Bancorp, Inc. (NASDAQ: TBBK) and certain of the Company's senior executives for potential violations of the federal securities laws. If you invested in Bancorp, you are encouraged to obtain additional information by visiting https://www.bfalaw.com/cases-investigations/the-bancorp-inc. Investors have until May 16, 2025, to ask the Court to be appointed to lea ...

WHAT TO DO NEXT: To join the Bancorp class action, go to https://rosenlegal.com/submit-form/? case_id=37146 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email case@rosenlegal.com for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than May 16, 2025. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. WHY ROSEN LAW: We encourage investo ...

SAN FRANCISCO, March 31, 2025 (GLOBE NEWSWIRE) -- The Bancorp, Inc. (NASDAQ: TBBK) has failed to meet its self-imposed deadline to restate its financial reports, triggering a Nasdaq non-compliance notice and escalating investor concerns already inflamed by a securities class action suit. The company, which had initially indicated it would file its delayed Annual Report within the 15-day extension granted by Rule 12b-25, has yet to provide an explanation for its failure to do so as of March 31, 2025. This de ...

First Quarter 2025 Earnings Release PERTINENT USER INFORMATION: | What: | S&T Bancorp, Inc. First Quarter Earnings Conference Call | | --- | --- | | When: | 1:00 p.m. ET, Thursday, April 24, 2025 | | Where: | S&T Bank's Investor Relations webpage (stbancorp.com) | | How: | Live and replay webcast over the internet | After the live presentation, the webcast will be archived at stbancorp.com for 12 months. To Ask Questions: Prior to the webcast, please email questions to [email protected]. Also, participants ...

Group 1 - Horizon Bancorp, Inc. (HBNC) is expected to benefit from continued net interest margin expansion [1] - Loan growth is anticipated to slow down this year but will remain positive, contributing to earnings [1] - Projected earnings per share for Horizon Bancorp is $1.75 [1]