The Bancorp, Inc. (NASDAQ:TBBK) Q2 2023 Earnings Conference Call July 28, 2023 8:00 AM ET
Company Participants
Andres Viroslav - Investor Relations
Damian Kozlowski - Chief Executive Officer
Paul Frenkiel - Chief Financial Officer
Conference Call Participants
Frank Schiraldi - Piper Sandler
David Feaster - Raymond James
Michael Perito - KBW
Operator
Good morning, ladies and gentlemen and welcome to The Bancorp Second Quarter 2023 Earnings Conference Call. [Operator Instructions] This call is being recorded today, Friday, July 28, 2023. I would now like to turn the conference over to Andres Viroslav. Please go ahead, sir.
Andres Viroslav
Thank you, operator. Good morning and thank you for joining us today for The Bancorp’s second quarter 2023 financial results conference call. On the call with me today are Damian Kozlowski, Chief Executive Officer; and Paul Frenkiel, our Chief Financial Officer. This morning’s call is being webcast on our website at www.thebancorp.com. There will be a replay of the call available via webcast on our website beginning at approximately 12 p.m. Eastern Time today. The dial-in for the replay is 1-877-674-7070, with a confirmation code of 720317.
Before I turn the call over to Damian, I would like to remind everyone that when used in this conference call, the words believes, anticipates, expects and similar expressions are intended to identify forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are subject to risks and uncertainties, which could cause actual results, performance or achievements to differ materially from those anticipated or suggested by such statements. For further discussion of these risks and uncertainties, please see The Bancorp’s filings with the SEC.
Listeners are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The Bancorp undertakes no obligation to publicly release the results of any revisions to forward-looking statements, which maybe made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
Now, I’d like to turn the call over to The Bancorp’s Chief Executive Officer, Damian Kozlowski. Damian?
Damian Kozlowski
Thank you, Andres. Good morning, everyone. The Bancorp made $0.89 a share, 41% revenue growth and 17% expense growth. ROE was 27% and ROA was 2.6%. Core loan growth quarter-over-quarter reflected a reduction of 8% in institutional lending and respective increases of 2% and 4% for our small business, commercial and real estate bridge lending businesses, which also showed 10% and 65% growth year-over-year, respectively. NIM increased to 4.83% from 4.67% quarter-over-quarter and 3.17% year-over-year.