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The Bancorp acquires vehicle, equipment leasing company

Wilmington, Del.-based The Bancorp Inc. has acquired McMahon Leasing, which provides vehicle and equipment leasing to small and mid-size businesses.

Financial terms of the deal were not disclosed.

The purchase expands The Bancorp's footprint to the southeastern Pennsylvania region, which will include a leasing office located in Norristown, Pa. The bank's commercial fleet leasing team should see "significant growth" as a result of the deal.