Ryan Harris
About Ryan Harris
Ryan Harris, age 47, is Executive Vice President and Head of Fintech Solutions at The Bancorp, Inc. (TBBK). He has led Fintech Solutions since November 2019 (Co-Head from Nov 2018–Nov 2019) after a decade driving business development in Payments; earlier roles include senior business development in BankFirst’s payment systems (2006–2007) and credit/prepaid card roles at BankFirst (1999–2005) and Citibank (South Dakota), N.A. (1997) . Under his remit, fintech-related fee revenue expanded materially: prepaid/debit/related fees rose 26% from 2022–2024 ($77.2M → $97.4M) and ACH/card/other payment fees grew 64% ($8.9M → $14.6M), supporting company-wide profitability improvements (2024 net income $218M, ROE 27%, ROA 2.7%) and strong share price performance (36% in 2024; 286% over 2020–2024) .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| The Bancorp, Inc. | Head of Business Development, Payment Solutions Group | 2007–2018 | Built and scaled payments business development; foundation for subsequent Fintech Solutions growth . |
| BankFirst (Marshall BankFirst Corp.) | SVP, Business Development, Payment Systems division | 2006–2007 | Expanded issuer processing/payment systems capabilities . |
| BankFirst | Credit card and prepaid card roles | 1999–2005 | Operational expertise in cards supporting later fee growth . |
| Citibank (South Dakota), N.A. | Credit card operations | 1997 | Early credit card ops experience . |
External Roles
No external board or public directorships disclosed for Ryan Harris .
Fixed Compensation
Multi-year compensation detail for Harris:
| Metric ($) | 2022 | 2023 | 2024 |
|---|---|---|---|
| Salary | 400,000 | 400,000 | 500,000 |
| Bonus | — | 375,000 | — |
| Stock Awards (grant-date FV) | 500,000 | 1,562,500 | 1,125,000 |
| Option Awards | — | — | — |
| All Other Compensation | 11,576 | 20,593 | 11,310 |
| Total | 911,576 | 2,358,093 | 1,636,310 |
Notes:
- 2024 “All Other” includes benefits/401(k); executives received 401(k) matches (Harris: $10,350) per plan footnotes .
- Equity awards are typically granted in Q1 following the performance year .
Performance Compensation
- 2024 Performance Year Awards (granted Q1 2025): Long-term equity award of $2,000,000 for Harris; no cash bonus (equity 80% of total salary+incentive) .
- Drivers used by the Compensation Committee for Harris’ 2024 award: growth in prepaid/debit/related fees ($77.2M → $97.4M, +26%) and ACH/card/other payment fees ($8.9M → $14.6M, +64%) over 2022–2024 .
Vesting and award mechanics:
- RSUs vest one third on each anniversary of grant; options generally are not granted to NEOs other than the CEO .
2024 grants (for prior-year performance) detail:
| Grant Type | Grant Date | Shares/Units | Exercise Price | Grant-Date FV ($) | Vesting |
|---|---|---|---|---|---|
| RSUs | 02/09/2024 | 25,632 | n/a | 1,125,000 | 1/3 each anniversary |
Realized vesting in 2024:
| Metric | 2024 |
|---|---|
| RSUs vested (shares) | 25,622 |
| Value realized on vesting ($) | 1,124,550 |
Equity Ownership & Alignment
Beneficial ownership and unvested equity:
| Item | Detail |
|---|---|
| Beneficial Ownership (shares) | 76,736 (<1% of class; based on 47,954,218 shares outstanding) . |
| Anti-hedging/pledging | Hedging and pledging of company stock prohibited by Insider Trading Policy . |
| Ownership Guidelines | CEO 3x salary; directors 2x fees; other executives per committee policy; all executives currently in compliance . |
Outstanding unvested RSUs at 12/31/2024 (market value at $52.63/share):
| Grant Date | Unvested RSUs (#) | Market Value ($) |
|---|---|---|
| 02/09/2022 | 5,497 | 289,307 |
| 02/09/2023 | 29,618 | 1,558,795 |
| 02/09/2024 | 25,632 | 1,349,012 |
| Total | 60,747 | 3,197,114 |
Options:
- No options outstanding for Harris; option awards are generally limited to the CEO .
Insider selling pressure outlook:
- RSUs vest 1/3 annually on each grant anniversary; sizable scheduled vesting creates recurring sellable supply, though hedging/pledging is prohibited and ownership guidelines encourage retention .
Employment Terms
- Employment agreements: Company generally does not enter into employment agreements with executive officers .
- Clawbacks: Mandatory clawback (SEC/Nasdaq-aligned) for restatements; discretionary clawback for misconduct for VPs and above .
- Change-of-control and other termination economics: As of 12/31/2024, Harris would receive accelerated vesting of unvested RSUs equal to $3,197,114 upon involuntary termination following a change in control or upon death/disability/retirement (based on $52.63 share price) .
- Non-compete/solicit/garden leave: Not disclosed.
- Tax gross-ups: Company does not provide tax gross-ups to executive officers .
Investment Implications
- Pay-for-performance alignment: Harris’ 2024 compensation shifted entirely to equity with no cash bonus; long-term RSUs of $2.0M reflect clear linkage to fintech fee growth and multi-year performance, promoting shareholder alignment .
- Retention risk: Meaningful unvested RSU balance ($3.2M) and 3-year vesting cadence provide retention hooks; absence of guaranteed bonuses or employment contracts increases at-risk profile but clawbacks and ownership guidelines add discipline .
- Selling pressure: Annual RSU vesting (not hedged/pledged) can create periodic supply; 2024 vesting of 25,622 shares with $1.12M realized highlights cadence investors should model around grant anniversaries .
- Governance and alignment: Prohibitions on hedging/pledging, stock ownership guidelines compliance, and no tax gross-ups reduce alignment red flags; severance economics are primarily accelerated vesting rather than cash multiples, lowering parachute risk inflation .
- Execution track record: Harris’ leadership coincides with strong payments fee expansion (+26%/+64% sub-segments) contributing to Company profitability and stock performance tailwinds; continued growth in fintech fees remains a key lever for incentive payouts and equity value creation .