Financial Review Q3 2020
The Bancorp
PAYMENTS BUSINESS: STABLE, LOWER COST DEPOSIT GENERATOR
CONSISTENT DEPOSIT GROWTH FROM
PAYMENTS BUSINESSES
$6,000 AVERAGE DEPOSITS BY PERIOD (MILLIONS)
13
$5,564
Other
(Includes time deposits¹ and
other legacy deposit programs)
Institutional Banking
(checking and money market for
higher net worth individuals)
Payment Acceptance Group
(ACH, Push to Card, Merchant
Acceptance)
Payment Solutions Group
(Prepaid and Debit Issuance)
HIGHLIGHTS
Stable, low cost deposit base anchored
by multi-year, contractual relationships
in our Prepaid and Debit issuance
business
Payment Solutions growth driven by
increased transactional volume due to
favorable tailwinds from stimulus,
electronic banking migration and
overall savings increases among
consumers
Low cost of funds declining in 2020
due to Fed rate cuts to ~zero in March
DEPOSIT TYPE (AVG.)
Demand & Int. checking
BALANCE % TOTAL
5,079,711
91%
Savings & Money Market
484,323
9%
Time Deposits¹
0%
Total²
$5.6B
100%
$5,500
$5,000
$4,500
$4,000
$3,819
$3,812
$3,862
$4,025
$3,500
$3,000
$2,500
$2,000
$1,500
$1,000
$500
$0
2016
2017
2018
2019
Q3 2020
COST OF DEPOSITS
0.30%
0.38%
0.67%
0.85%
0.12%
Savings & Money Market
Time Deposits
9%
0%
Demand & Int.
checking
91%
1 Time deposits have rarely been used due to lower cost deposit growth and previous balances are included in "Other". 2 Average for the quarter ended September 30, 2020.View entire presentation