Dominic Canuso
About Dominic Canuso
Dominic C. Canuso was appointed Executive Vice President and Chief Financial Officer of The Bancorp, Inc. effective November 3, 2025. He is 50, a Chartered Financial Analyst, and holds both an Executive MBA and B.S. in Business Administration from Villanova University . Prior roles include CFO of Capital Bank (since July 2024) and CFO of WSFS Bank (June 2016–August 2023), where he also led the Cash Connect division; earlier leadership posts include Barclays Bank Delaware and Advanta Bank Corporation . Company performance context at time of hire: 2024 net income rose to $218M (from $192M in 2023), diluted EPS reached $4.29, ROE 27.2%, ROA 2.71%; stock price rose 36% in 2024 and by 286% since 2020 year‑end .
Company performance context
| Metric | FY 2022 | FY 2023 | FY 2024 |
|---|---|---|---|
| Net Income ($USD Millions) | $130 | $192 | $218 |
| Diluted EPS ($USD) | $2.27 | $3.49 | $4.29 |
| ROE (%) | 19.0 | 25.6 | 27.2 |
| ROA (%) | 1.8 | 2.59 | 2.71 |
| Stock Price ($, Dec 31) | — | $38.56 | $52.63 |
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Capital Bank | EVP & Chief Financial Officer | 2024–2025 | Led corporate finance and strategic growth initiatives |
| WSFS Bank | EVP & Chief Financial Officer; Executive Leader, Cash Connect | 2016–2023 | Oversaw finance, led Cash Connect division expansion |
| Barclays Bank Delaware | Leadership roles | N/A | Corporate and consumer finance leadership |
| Advanta Bank Corporation | Leadership roles | N/A | Consumer finance operations leadership |
External Roles
| Organization | Role | Years | Notes |
|---|---|---|---|
| Nasdaq Listing and Hearing Review Council | Member | 2022–present | Governance and listing oversight |
| Ronald McDonald House Charities of Delaware | Board Chair Elect | 2025 | Community leadership |
Fixed Compensation
| Component | Value | Effective/Pay Timing | Source |
|---|---|---|---|
| Base Salary | $500,000 | Effective Nov 3, 2025 | |
| PTO | 28 days per year (prorated) | Policy at hire | |
| Benefits | Standard executive benefits | Eligibility first of month post start |
Performance Compensation
| Metric/Element | Target | Structure | Payout Timing | Vesting/Mechanics | Source |
|---|---|---|---|---|---|
| Cash Incentive | $250,000 | Discretionary | 2026 (for 2025 performance) | N/A (cash) | |
| Equity Incentive | $600,000 | Discretionary RSUs | 2026 (for 2025 performance) | Company RSUs typically vest 3 years, one‑third annually (general plan practice) | |
| Performance Metrics | Not specifically disclosed for CFO | Company uses balanced scorecard emphasizing ROA, ROE, net income, payments fees/deposits, stock performance | Annual review | At‑risk components determined by Compensation & Talent Committee |
Note: Company practice emphasizes multi‑year pay‑for‑performance; CFO’s specific weighting/targets were not disclosed in the 8‑K/offer letter .
Equity Ownership & Alignment
| Item | Detail | Date(s) | Source |
|---|---|---|---|
| Direct Beneficial Ownership | 3,500 common shares | As of Nov 14, 2025 | |
| Open‑Market Purchases | 1,700 shares at $64.6395; 1,800 shares at $61.238 | 11/12/2025; 11/14/2025 | |
| Anti‑Hedging/Pledging | Hedging and pledging of Company stock prohibited | Policy in effect | |
| Ownership Guidelines | CEO 3x salary; other executives per Committee policy; 5 years to comply | Company policy | |
| Compliance Status | New officer; compliance expected within 5 years | As applicable |
Employment Terms
| Term | Detail | Source |
|---|---|---|
| Employment Agreement | Offer letter; at‑will employment; no fixed term | |
| Severance | Not disclosed; Company generally does not enter employment agreements with executive officers | |
| Change‑of‑Control | Not disclosed in offer letter | |
| Clawback (Mandatory) | Recovery of erroneously awarded incentive‑based compensation upon accounting restatement per Section 10D/Nasdaq | |
| Clawback (Discretionary) | Recovery of incentive/broad compensation for misconduct or contribution to restatement (VP+ roles) | |
| Non‑Compete/Non‑Solicit | Not included; candidate must confirm no restrictive covenants from prior employers | |
| Insider Trading | Subject to Company Insider Trading Policy; hedging/derivatives prohibited |
Governance & Shareholder Feedback Context
| Item | Detail | Date | Source |
|---|---|---|---|
| Say‑on‑Pay Outcome | Approved: 39,879,931 For; 1,048,449 Against; 151,141 Abstentions; 3,579,058 broker non‑votes | May 28, 2025 | |
| Peer Group (2024) | Axos, Green Dot, Live Oak, Pathward (among 18 peers used for benchmarking) | FY 2024 |
Investment Implications
- Alignment signal: CFO initiated open‑market purchases (3,500 shares total) in the first two weeks post‑appointment, suggesting personal capital at risk and reduced near‑term selling pressure .
- Incentive structure: 2025 targets emphasize equity ($600k RSUs) and discretionary cash ($250k) within a company framework focused on multi‑year ROA/ROE/EPS/stock performance, reinforcing pay‑for‑performance and retention via time‑vested equity .
- Risk safeguards: Mandatory/discretionary clawbacks and anti‑hedging/pledging policy mitigate misalignment and excessive risk‑taking; lack of disclosed severance/change‑of‑control economics limits “golden parachute” risk but may raise retention sensitivity in competitive CFO markets .
- Execution lens: Company’s strong 2024 performance (EPS/ROE/ROA growth; stock appreciation) sets a higher baseline for 2025; CFO effectiveness will be visible through capital allocation, balance sheet management, and payments/credit fee trajectory under The Bancorp’s balanced scorecard .