UPDATE: The Bancorp Announces Pricing of Common Stock Offering at $11.00 per Share

The Bancorp (NASDAQ: TBBK) announced today that it has priced a public offering of 4.0 million shares of common stock at $11.00 per share for gross proceeds of approximately $44.0 million. The Company expects to close the sale of the shares on or about December 21, 2012, subject to customary closing conditions. Sandler O'Neill + Partners, L.P. is acting as the book-running manager and Sterne, Agee & Leach, Inc. is acting as co-manager for the offering. The underwriters will have a 30-day option to purchase up to an additional 600,000 shares of common stock from Bancorp to cover over-allotments, if any. Bancorp has filed a registration statement (including a prospectus and prospectus supplement) with the SEC for the offering to which this communication relates. Prospective investors should read the prospectus in that registration statement, the prospectus supplement and other documents that the Company has filed with the SEC for more complete information about the Company and the offering. Investors may obtain these documents without charge by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, copies of the prospectus supplement and the prospectus relating to the offering may be obtained from Sandler O'Neill + Partners, 1251 Avenue of The Americas, 6th Floor, New York, NY 10020, (866) 805-4128. This news release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.