He pulled out a business card and handed it to me.
Tips
usage
掏 implies reaching into a confined space (pocket, bag, hole) to pull something out. 掏钱 (tāo qián) = to pay/fork out money (colloquial). 掏腰包 (tāo yāobāo) = to pay out of one's own pocket.
memory
Hand radical 扌 + 匋 (pottery/kiln) — reaching your hand into a vessel to pull something out.