James McEntee III
About James J. McEntee III
Independent Chair of the Board of The Bancorp, Inc. (TBBK) since November 2021; director since 2000; age 67. Background includes corporate law and leadership roles in financial institutions, real estate operations, investments, and capital markets; currently Managing Principal of StBWell, LLC and Chairman & CEO of Launch Two Acquisition Corporation (NASDAQ: LPBBU) . The Board has determined he is independent under Nasdaq standards; the company maintains a separated Chair/CEO structure with McEntee as independent Chair .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| The Bancorp, Inc. | Chair of the Board; Director | Chair since Nov 2021; Director since 2000 | Independent Chair; provides agenda setting, facilitation, strategy input |
| StBWell, LLC | Managing Principal | Since June 2010 | Real estate owner/operator experience |
| Launch Two Acquisition Corporation (NASDAQ: LPBBU) | Chairman & CEO | Since Oct 2024 | Public company leadership in SPAC market |
| FinTech Acquisition Corp I–VI | Senior executive (President/CFO across series) | Jul 2016–Dec 2022 | SPAC execution experience |
| Alesco Financial, Inc. | CEO | 2006–Dec 2009 | Public company CEO experience |
| Cohen & Company Inc. | COO; Managing Director | Mar 2003–Dec 2009 | Financial institution operations leadership |
| JVB Financial | Vice-Chairman & Co-COO | Dec 2009–Oct 2013 | Capital markets operations |
| Lamb McErlane PC | Stockholder; Of Counsel | 1990–1999; 2000–2004 | Corporate law background |
| T-Rex Group, Inc. | Director | Nov 2014–Jan 2018 | Risk analytics software oversight |
| Pegasus Communications Corporation | Director | Prior service noted | Media/communications board experience |
| The Chester Fund (non-profit) | Director; Chairman | Director 2008–Jun 2020; Chair Jul 2012–Jan 2018 | Non-profit governance |
External Roles
| Organization | Role | Tenure | Public/Private |
|---|---|---|---|
| Launch Two Acquisition Corporation (NASDAQ: LPBBU) | Chairman & CEO | Since Oct 2024 | Public |
| StBWell, LLC | Managing Principal | Since June 2010 | Private |
Board Governance
- Independence: Board deems McEntee independent under Nasdaq rules; he serves as independent Chair .
- Committee assignments: Executive Committee Chair; Board Chair duties include agenda-setting, presiding, facilitating director communication, and strategic input .
- Attendance and engagement: In FY2024, approximately 98% Board meeting attendance and 100% committee meeting attendance among director nominees; Board held six meetings, with each director nominee attending all except one director who missed one meeting; all directors then serving attended the 2024 annual meeting .
- Executive sessions: Board and all Committees hold executive sessions without management .
| Committee | Role | Meetings in 2024 |
|---|---|---|
| Executive | Chair | Not applicable (“—”) – authority to act between Board meetings in limited circumstances |
Fixed Compensation
Policy schedule (independent directors):
| Component | Amount | Notes |
|---|---|---|
| Annual cash retainer | $75,000 | Standard director retainer |
| Board Chair additional fee | $70,000 | Non-executive Board Chair |
| Audit Chair fee | $10,000 | Annual |
| Other committee Chair fee | $5,000 | Annual |
| Audit Committee member fee | $5,000 | Annual |
| Other committee member fee | $2,500 | Per committee annually |
| RSU annual grant | $90,000 market value | Granted at annual meeting to each independent director |
Actual 2024 compensation (McEntee):
| Component | 2024 Amount ($) | Notes |
|---|---|---|
| Cash fees | $77,917 | Committee-related cash (committee fees cannot be taken in stock) |
| Stock awards | $165,000 | He elected to take all annual cash retainer in stock awards; RSU grant date fair value per share $32.32; grant date May 30, 2024 |
| Total | $242,917 | Sum of cash and stock awards |
Performance Compensation
- Director equity is delivered as RSUs to align interests; directors may elect to receive cash retainer as stock; there is no disclosed performance metric framework for director equity grants (these are time-based alignment awards) . | Equity Element | Grant date | Grant date fair value/share ($) | Stock awards ($) | Structure | |---|---|---|---|---| | RSU grant + elected stock in lieu of cash | May 30, 2024 | $32.32 | $165,000 | Alignment grant; directors can elect retainer in stock; no metric-linked PSU/option awards disclosed for directors |
Other Directorships & Interlocks
| Company | Role | Committee roles (if disclosed) | Interlock/Counterparty exposure |
|---|---|---|---|
| Launch Two Acquisition Corporation (NASDAQ: LPBBU) | Chairman & CEO | Not disclosed | No related-party dealings with TBBK disclosed in 2025 proxy |
Expertise & Qualifications
- Extensive experience in corporate law, financial institution management, real estate operations, investments, and capital markets; prior public company CEO/COO roles; SPAC leadership across multiple vehicles .
- Board leadership: Independent Chair with responsibilities spanning agenda-setting, information review, and director communications .
Equity Ownership
| Holder | Shares Beneficially Owned | Percent of Class | Ownership Detail |
|---|---|---|---|
| James J. McEntee III | 139,105 | <1% | Owned directly |
- Ownership guidelines: Directors must own 2x annual fees; newly appointed/elected have up to five years to comply; as of proxy date, all directors and executives are in compliance .
- Hedging/pledging: Company prohibits hedging and pledging of Company stock by employees, executive officers, and directors .
Governance Assessment
- Strengths:
- Independent Chair structure with separation from CEO; committees comprised exclusively of independent directors; executive sessions without management .
- High attendance metrics in FY2024 and active stockholder engagement; majority voting standard; annual director elections .
- Director equity and ownership guidelines support alignment; prohibition on hedging/pledging reduces misalignment risk .
- Potential conflicts/monitoring:
- Related-party transactions policy requires Audit Committee oversight for transactions >$120,000; 2024 proxy discloses de minimis legal payments to Duane Morris for another director and ordinary-course insider lending compliant with Regulation O; no specific related-party transactions disclosed for McEntee .
- Investor confidence signals:
- Say-on-pay support at ~96% in 2024 indicates positive sentiment on compensation governance; robust clawback policies and stock ownership guidelines in place .
RED FLAGS: None disclosed specific to McEntee in the 2025 proxy. Continue to monitor any future transactions involving entities where he holds leadership roles, consistent with the Related Party Transactions Policy .