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Core Viewpoint - The Bancorp, Inc. is facing a federal securities class action lawsuit due to allegations of misleading statements regarding its financial health and risk exposure, particularly related to its real estate bridge loan portfolio [2][3]. Group 1: Allegations and Financial Misrepresentation - The complaint alleges that The Bancorp and its executives violated federal securities laws by making false or misleading statements and failing to disclose significant risks associated with its REBL loan portfolio [3]. - Specific allegations include underrepresenting the risk of default on loans, insufficient credit loss provisions, material weaknesses in internal controls, and reliance on unapproved financial statements [3]. - A report from Culper Research claimed that the company's loan portfolio was filled with high-risk borrowers and properties, leading to significant potential losses [4]. Group 2: Financial Performance and Market Reaction - On October 24, 2024, The Bancorp reported a net income of $51.5 million for Q3 2024, which was impacted by increased provisions for credit losses, resulting in a $1.5 million after-tax reduction in net income [5]. - Following this announcement, the company's share price fell by $7.95, or 14.47%, closing at $47.01 on October 25, 2024, amid heavy trading volume [5]. - On March 4, 2025, the company disclosed that its financial statements for fiscal years 2022 to 2024 should no longer be relied upon, leading to a further decline in share price by $2.34, or 4.38%, to close at $51.25 on March 5, 2025 [6][8]. Group 3: Legal Proceedings and Investor Actions - Investors who suffered losses exceeding $50,000 between January 25, 2024, and March 4, 2025, are encouraged to contact the law firm Faruqi & Faruqi to discuss their legal options [1]. - The deadline to seek the role of lead plaintiff in the class action lawsuit is set for May 16, 2025 [2]. - The firm is also seeking information from whistleblowers, former employees, and shareholders regarding The Bancorp's conduct [10].

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 misrepresentation of risks associated with its loan portfolio [1][2]. Company Overview - The Bancorp, Inc. is a financial holding company involved in institutional banking, commercial real estate bridge lending, small business lending, and commercial fleet leasing, with a focus on loans collateralized by apartment buildings [3]. Allegations - The lawsuit alleges that Bancorp misrepresented the significant risk of default or loss on its REBL loan portfolio and that its credit loss methodology was inadequate [4]. - It is claimed that Bancorp also misrepresented the effectiveness of its internal controls over financial reporting, which contained at least one material weakness [4]. Stock Performance and Impact - Following a report from Culper Research on March 21, 2024, which highlighted the misrepresentation of risks, Bancorp's 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 - 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 internal financial controls [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 [4]. Group 2: Allegations Against Bancorp - The complaint alleges that Bancorp underrepresented the risk of default on its real estate bridge loans [3]. - It claims that Bancorp's 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 Representation - Investors can choose to be represented by Kessler Topaz Meltzer & Check, LLP or other counsel, or remain absent from the class [4]. - The lead plaintiff will represent the interests of all class members and select counsel for the litigation [4]. Group 4: Firm Background - Kessler Topaz Meltzer & Check, LLP has a reputation for prosecuting class actions and has recovered billions for victims of corporate misconduct [5].

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Core Viewpoint - ConnectOne Bancorp, Inc. (CNOB) shares are experiencing an upward trend following an upgrade from Keefe, Bruyette & Woods analyst Tim Switzer, who raised the stock rating from Market Perform to Outperform and increased the price target from $31 to $32 [1][2]. Group 1: Stock Performance and Valuation - CNOB shares are currently trading at a significant discount compared to both industry peers and historical medians, despite the company's key metrics ranking in the top quartile among SMID-cap banks [2]. - As of the latest check, CNOB shares have risen by 3.41%, reaching a price of $24.54 [4]. Group 2: Growth Catalysts - Key positive factors for CNOB include the successful merger with The First of Long Island Corporation (FLIC), organic net interest margin (NIM) expansion, alleviation of commercial real estate (CRE) credit concerns, and potential benefits from further Federal Reserve rate cuts [3]. - The company is projected to achieve compound annual growth rates (CAGRs) of +32% for PPNR/share and +33% for EPS from 2024 to 2026, placing it in the top decile among peers during this period [4]. Group 3: Management Insights - During a recent meeting at KBW's Financial Services Conference, CNOB's management reported that the initial integration efforts for the FLIC merger are progressing smoothly, with confidence in meeting or exceeding all initial targets [3].

Core Viewpoint - Faruqi & Faruqi, LLP is investigating potential claims against The Bancorp, Inc. due to allegations of securities law violations, with a deadline for investors to seek lead plaintiff status in a class action by May 16, 2025 [2][10]. Group 1: Allegations Against The Bancorp - The complaint alleges that The Bancorp and its executives made false or misleading statements regarding the risks associated with its REBL loan portfolio, including underrepresenting the risk of default and inadequately accounting for credit losses [4]. - Specific claims include that the company had material weaknesses in its internal controls, that its financial statements were not approved by independent auditors, and that positive statements about the company's business were misleading [4]. - A report from Culper Research highlighted significant risks in the company's loan portfolio, describing it as filled with unsophisticated borrowers and properties in poor condition, which led to a significant drop in share price [5][6]. Group 2: Financial Impact and Share Price Movements - Following the release of the Culper Research report on March 21, 2024, The Bancorp's share price fell by $3.63, or 10.15%, closing at $32.12 per share [6]. - On October 24, 2024, the company reported a net income of $51.5 million for Q3 2024, but this included a $1.5 million reduction in net income due to increased provisions for credit losses, resulting in a share price drop of $7.95, or 14.47%, to $47.01 [7]. - On March 4, 2025, The Bancorp disclosed that its financial statements for fiscal years 2022 through 2024 should no longer be relied upon, leading to a further share price decline of $2.34, or 4.38%, to $51.25 [8][9].

NEW YORK, March 26, 2025 (GLOBE NEWSWIRE) -- Pomerantz LLP announces that a class action lawsuit has been filed against The Bancorp, Inc. (“Bancorp” or the “Company”) (NASDAQ: TBBK).   Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, (or 888.4-POMLAW), toll-free, Ext. 7980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased. The class action concerns whether Bancorp and certain of its ...

Core Viewpoint - A securities class action lawsuit has been filed against The Bancorp, Inc. for failing to disclose material information during the class period from January 25, 2024, to March 4, 2025, which is a violation of federal securities laws [3]. Group 1: Lawsuit Details - Investors have until May 16, 2025, to file lead plaintiff applications in the class action lawsuit against Bancorp [1]. - The lawsuit is pending in the United States District Court for the District of Delaware [1]. - The case is titled Linden v. The Bancorp, Inc., et al., No. 25-cv-326 [5]. Group 2: Company Disclosure - On March 4, 2025, Bancorp announced it would be unable to file its fiscal year 2024 annual report on time and that its financial statements for the fiscal years ended December 31, 2022, through 2024 should no longer be relied upon [4]. - The company stated that its auditors did not provide approval for the audit opinion or consent for the incorporation of their audit report in certain registration statements [4]. - Bancorp is currently working to complete additional closing procedures related to accounting for consumer fintech loans and is evaluating the impact of this non-reliance on its internal controls [4]. Group 3: Market Reaction - Following the announcement on March 4, 2025, Bancorp's share price fell by $2.34, or 4.38%, closing at $51.25 per share on March 5, 2025, with unusually heavy trading volume [4].