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The Bancorp Bank and ACH Direct Partner to Create Private-Labeled ACH Direct Bank.

WILMINGTON, Del. -- The Bancorp Bank ("Bancorp"), a wholly owned subsidiary of The Bancorp, Inc. (Nasdaq NM:TBBK), announced today the launch of through a partnership agreement with ACH Direct, one of the largest privately held electronic funds processors in the United States. The Bancorp Bank is providing branded, Internet enabled banking services to enhance ACH Direct's current platform.

ACH Direct Bank is an online, electronic bank where customers have access to comprehensive, yet easy to use online banking services, including a selection of personal and business checking and savings accounts, online bill payment, and an ACH Direct Bank Visa Check Card.

"ACH Direct is constantly looking for opportunities to better service our clients by enhancing our product and service offerings," said Jeff Thorness, ACH Direct's Chief Executive Officer. Mr. Thorness continued, "Our market research of existing ACH Direct merchants and independent sales organizations ("ISO") suggests their rapid adoption of ACH Direct Bank; they view ACH Direct Bank as a natural extension of ACH Direct's current products and services."

"We are pleased to add ACH Direct to our portfolio of private label banks because we believe ACH Direct is a market leader in their industry sector," said Frank M. Mastrangelo, President and COO of The Bancorp Bank.

To learn more about Bancorp solutions, please contact Walt Levengood at 302-385-5086 or via email at and visit The Bancorp's website at

About The Bancorp Bank

The Bancorp Bank ("Bancorp"), a wholly owned subsidiary of The Bancorp, Inc., is an FDIC insured commercial bank that delivers a full array of financial services and products through private-label affinity partner programs. Bancorp, through Philadelphia Private Bank (, its regional community bank division, serves the needs of small and mid-size businesses and their principals in the Philadelphia-Wilmington region.

About ACH Direct

ACH Direct is the leader in electronic funds transfer processing and provides services to merchants, Independent Sales Organizations (ISOs), financial institutions, government agencies and companies located throughout the United States and Canada. ACH Direct offers a comprehensive line of payment products and solutions, including check conversion, check verification, direct deposit payroll processing and electronic bill payment and presentment. For more information, visit the company at
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Publication:Business Wire
Date:Apr 1, 2005
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