The Bancorp Appoints Randall Baugh as Chief Compliance Officer

WILMINGTON, Delaware–(BUSINESS WIRE)–The Bancorp Bank, the wholly-owned banking subsidiary of The Bancorp, Inc. (NASDAQ: TBBK), is pleased to welcome Randall Baugh as its new Managing Director, Chief Compliance Officer. In this role, Baugh will be responsible for overseeing the Bank’s compliance management system, including the compliance risk management program within the Bank’s core retail and commercial deposit and lending departments, under the leadership of Executive Vice President and Chief Operating Officer, Greg Garry.

“The Bancorp is focused on modernizing consumer compliance programs for the rapidly changing banking landscape where fintechs are playing a bigger role and legacy approaches are quickly becoming obsolete. With Randall’s experience and expertise in this area, he will help us continue to build the operational base that our third-party service providers, partners and customers have come to expect,” said Garry.

Baugh brings to The Bancorp extensive experience in financial services consumer protection and consumer banking. Most recently, he served as Chief Compliance Officer E*TRADE Bank at Morgan Stanley, where he was responsible for leading day-to-day compliance activities in addition to the Bank’s integration activities following the acquisition of E*TRADE by Morgan Stanley at the end of 2020. Concurrently, he served as Morgan Stanley’s Head of Deposit Compliance, Marketing and Advertising for US Banks.

“It’s exciting to join an organization like The Bancorp that continually challenges itself to lead by example when it comes to meeting the challenges of an ever-changing regulatory environment,” said Baugh. “In my role, I look forward to contributing to the strategic growth of the business by maintaining a compliance risk management program appropriate to the size and complexity of the organization.”

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About Bancorp

The Bancorp, Inc. (NASDAQ: TBBK), headquartered in Wilmington, Delaware, through its subsidiary The Bancorp Bank, provides non-bank financial companies with the people, processes and technology to meet their unique banking needs. Through its Fintech Solutions, Institutional Banking, Commercial Lending and Real Estate Bridge Lending businesses, The Bancorp provides partner-focused solutions paired with cutting-edge technology for companies ranging from entrepreneurial startups to Fortune 500 companies. With more than 20 years of experience, The Bancorp has become a leader in the financial services industry, recognized as the leading issuer of prepaid cards in the United States, a national provider of bridge financing for home equity improvement plans, an SBA National Preferred Lender, a leading provider of securities-backed lines of credit, with one of the few bank-owned commercial vehicle leasing groups. Through its commitment to company-wide excellence, The Bancorp has also been named one of the 100 fastest growing companies by Fortune, one of the 50 best employers by Equal Opportunity Magazine, and has been selected for inclusion in the S&P Small Cap 600. To learn more about The Bancorp, visit