** Shares of regional lender The Bancorp TBBK.O fall 4.1% to $51.40
** Late Tuesday, TBBK said it had inappropriately filed its annual report for FY24, without the final approval from its auditor Crowe
** TBBK says the previously filed annual report cannot be relied upon and that it will not be possible to file an amended annual report in time without unreasonable effort or expense
** Bank says it is working to complete procedures related to accounting for consumer fintech loans
** Piper Sandler says "news of this sort creates uncertainty and seems a bit of a black eye"; adds that it would expect some weakness in shares
** Brokerage adds that it would be using any weakness as a buying opportunity, as it believes the issue doesn't impact the bank's fundamentals
** TBBK stock down 2.3% YTD
(Reporting by Arasu Kannagi Basil in Bengaluru)
((ArasuKannagi.Basil@thomsonreuters.com;))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.