Wilmington, Del.-based The Bancorp Bank plans to move its headquarters to Sioux Falls, S.D., early next year.
The $7.1 billion bank announced the pending move in a Sept. 14 regulatory filing. The Bancorp Bank bank also disclosed that it converted to a nationally-chartered bank after receiving written notification from the Office of the Comptroller of the Currency.
Sioux Falls has been the headquarters of the payments-focused bank’s Fintech Solutions business unit since 2002. The bank’s key core operations are already in South Dakota.
In October 2021, The Bancorp Bank announced its plans to expand its office space in downtown Sioux Falls, initially occupying 50,000 square feet across the top three office floors in a 10-story mixed-use building as its Fintech Solutions unit continued to grow.