The Bancorp, Inc. announced the successful resolution of several Real Estate Bridge Loan (REBL) assets in early 2025. A $12.3 million classified loan, previously on non-accrual status, was repaid at par with no loss recognized following the sale of its underlying collateral apartment property in Plainfield, New Jersey.
Additionally, The Bancorp Bank, N.A. completed the sale of an approximately $82 million REBL portfolio, which included a $32.5 million classified loan. This transaction also resulted in no loss of principal, although $1.26 million of accrued interest was reversed.
The Bank provided financing to a third-party purchaser for the $82 million portfolio, which included a 25% payment guaranty. This strategic disposition of assets, particularly those previously classified as problematic, demonstrates the liquidity of the portfolio and the company's proactive approach to managing credit risk.
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