The Bancorp Bank of the US has launched a new private label banking relationship with Legg Mason Investment Counsel, the Baltimore-based wea...

The Bancorp Bank of the US has launched a new private label banking relationship with Legg Mason Investment Counsel, the Baltimore-based wealth management fiduciary of Legg Mason that has approximately $10 billion in assets under management.

“We are thrilled with the opportunity to deliver Legg Mason Investment Counsel with a banking platform, customised to meet the needs of their client base,” said Frank Mastrangelo, President of The Bancorp Bank.

The initial launch of the LMIC Advantage branded program includes a personal checking account with a no annual fee Visa check card that can be used for ATM withdrawals and debit transactions, free access to online bill payment and presentment, online account statements, unlimited check writing, and rebates for all domestic ATM surcharge fees.

The Bancorp Bank delivers financial services and products both directly, through Philadelphia Private Bank, its regional community bank division, and through private-label affinity partner programmes throughout the US.