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The Bancorp shareholders OK preferred stock conversion

The Bancorp Inc.shareholders approved the conversionof the Wilmington, Del.-based company's series C mandatorily convertible cumulativenonvoting perpetual preferred stock into common shares and the issuance of suchshares upon conversion.

According to a Form 8-K, there were 31,566,290 votes in favorof the proposal and 524,408 votes against it. There were 2,621 abstentions.

At a special meeting held Sept. 29, stockholders of The Bancorpalso approved the issuance of shares of its common stock to certain of its officersand directors.

The proposal garnered 30,361,427 votes in favor and 1,726,246votes against. There were 5,646 abstentions.