The Bancorp to end SBL originations, cut 64 roles in Apex 2030 restructuring.

The Bancorp said it will discontinue retail and wholesale Small Business Lending originations by the end of 2026 and eliminate 64 currently filled positions—about 9% of the Bank’s workforce—under an organizational restructuring tied to its Apex 2030 plan. Form 8-K AccNo 0002039852-26-000121 (earliest event September 1, 2026; accepted September 4, 2026 at 16:15:29 ET) discloses Items 2.05, 5.02, 7.01, and 9.01.

The Bancorp, Inc. (Nasdaq: TBBK) disclosed the plan in Form 8-K AccNo 0002039852-26-000121 (Date of earliest event September 1, 2026; Filing Date / Accepted 2026-09-04 at 16:15:29 ET). The registrant is The Bancorp, Inc.; the restructuring was implemented by The Bancorp Bank, N.A., a wholly owned subsidiary. Items covered: 2.05 Costs Associated with Exit or Disposal Activities; 5.02 Departure of Certain Officers; 7.01 Regulation FD Disclosure (Exhibit 99.1 press release furnished); 9.01 exhibits.

What is changing in Small Business Lending

On September 1, 2026, the Bank implemented an organizational restructuring “to further align its resources and business with the Company’s strategic priorities.” As part of that Restructuring, the Bank intends to discontinue the origination of retail and wholesale Small Business Lending (“SBL”) loans by the end of 2026 and focus on managing its existing SBL loan portfolio.

Exhibit 99.1 (press release dated September 4, 2026, furnished under Item 7.01) frames the move as advancing Apex 2030, the company’s long-term strategic plan, and says the Bank will continue to manage and serve existing SBL customers and the loan portfolio while ending new originations.

Headcount, charges, and savings as printed

Item 2.05 states the Restructuring will eliminate 64 currently filled positions across the organization, representing approximately 9% of the Bank’s workforce. The company currently estimates approximately $5.6 million in charges, consisting primarily of cash expenditures for severance, employee benefits, outplacement services, retention payments, and other related costs. It expects to recognize $4.5 million of those charges in the third quarter of 2026 and to substantially complete the Restructuring by the end of the fourth quarter of 2026.

Separate from the 64 eliminations, Item 2.05 says 16 additional positions unrelated to the Restructuring that, since June 2026, have been or are expected to be vacated and not backfilled. The Restructuring together with those 16 roles is expected to generate approximately $14 million in annualized run-rate savings (80 positions in total). Combined with previously disclosed efforts to reorganize the Institutional Banking business in the fourth quarter of 2025, the company expects it will generate over $20 million in annualized run-rate savings.

The company says it may incur additional expenses not currently contemplated because of events associated with the Restructuring.

Exhibit 99.1 repeats the 64 / 9% / $5.6 million / $4.5 million / 16 not-backfilled / ~$14 million / over $20 million figures and uses “enterprise-wide workforce” for the 9% language; this package treats Item 2.05’s “Bank’s workforce” wording as the AccNo primary for that percentage.

Officer departure (Item 5.02)

In connection with the Restructuring, Jeff Nager, the Bank’s Head of Commercial Lending, is expected to depart the Bank on October 1, 2026. The filing says 38,583 unvested restricted stock units will expire and be forfeited upon his departure under the company’s 2020 and 2024 equity incentive plans. As of the 8-K date, severance terms had not been finalized.

Still open after this filing

Absolute headcount before and after the 64 eliminations. Which departments beyond SBL are affected. Final charges versus the ~$5.6 million estimate. Finalized Nager severance terms. How Apex 2030 capital and technology allocation changes beyond the printed SBL and staffing actions. Any amended 8-K if amounts differ materially.