Ownership Submission
FORM 3
 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
  Birenbaum Arthur M
 2. Date of Event Requiring Statement (Month/Day/Year)
12/23/2004		 3. Issuer Name and Ticker or Trading Symbol
Bancorp, Inc. [TBBKD]
(Last)
(First)
(Middle)
ARTHUR M. BIRENBAUM C/O THE BANCORP, 405 SILVERSIDE ROAD		 4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
Executive Vice President
 5. If Amendment, Date Original Filed(Month/Day/Year)
(Street)

WILMINGTON, DE 19809		 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Beneficially Owned
1.Title of Security
(Instr. 4)		 2. Amount of Securities Beneficially Owned
(Instr. 4)		 3. Ownership Form: Direct (D) or Indirect (I)
(Instr. 5)		 4. Nature of Indirect Beneficial Ownership
(Instr. 5)
Common Stock 3,300
D
 

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. SEC 1473 (7-02)
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Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 4)		 2. Date Exercisable and Expiration Date
(Month/Day/Year)		 3. Title and Amount of Securities Underlying Derivative Security
(Instr. 4)		 4. Conversion or Exercise Price of Derivative Security 5. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 5)		 6. Nature of Indirect Beneficial Ownership
(Instr. 5)
Date Exercisable Expiration Date Title Amount or Number of Shares
Stock Option (right to buy)   (1) 02/20/2012 Common Stock 10,000 $ 10 D  
Stock Option (right to buy)   (2) 12/18/2012 Common Stock 20,000 $ 10 D  
Stock Option (right to buy)   (3) 02/02/2014 Common Stock 17,249 $ 10.87 D  
Series A Convertible Preferred Stock   (4)   (4) Common Stock 603 $ (4) D  
Stock Option (right to buy)   (3) 02/02/2014 Common Stock 1,149 $ 10.87 I By wife

Reporting Owners

Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
Birenbaum Arthur M
ARTHUR M. BIRENBAUM C/O THE BANCORP
405 SILVERSIDE ROAD
WILMINGTON, DE 19809		       Executive Vice President  

Signatures

Arthur M. Birenbaum 02/07/2005
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 5(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) This stock option vests in four equal annual installments on 2/20/2003, 2/20/2004, 2/20/2005 and 2/20/2006.
(2) This stock option vests in four equal annual installments on 12/18/2003, 12/18/2004, 12/18/2005 and 12/18/2006.
(3) Immediately exercisable.
(4) Series A preferred stock is immediately convertible into common stock on a 1-for-1 basis.

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