Last $13.49 USD
Change Today 0.00 / 0.00%
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bnccorp (BNCC) Snapshot

Open
$13.49
Previous Close
$13.49
Day High
$13.49
Day Low
$13.49
52 Week High
09/23/13 - $14.40
52 Week Low
04/24/13 - $10.35
Market Cap
44.6M
Average Volume 10 Days
583.4
EPS TTM
$2.39
Shares Outstanding
3.3M
EX-Date
--
P/E TM
5.6x
Dividend
--
Dividend Yield
--
Current Stock Chart for BNCCORP (BNCC)

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bnccorp (BNCC) Details

BNCCORP, Inc. operates as the bank holding company for BNC National Bank that provides community banking and wealth management services to small and mid-sized businesses, business owners, professionals, and consumers. The company’s deposit products include checking, savings, money market, and health savings accounts, as well as certificates of deposits. Its loan portfolio comprises commercial and industrial, commercial real estate, construction, agricultural, land and land development, business financing, small business administration, consumer, home equity, and personal loans. The company also offers online banking, merchant, remote deposit capture, HOA lockbox processing, phone banking, bill payment, and interbank transfer services, as well as debit and credit cards. In addition, it offers personal wealth management services in the areas of investment management, financial and estate planning, and fiduciary services; retirement plans, including 401(k) and defined benefit plans; and tax planning and preparation, accounting and payroll, and business planning services. Further, the company provides mortgage banking services through its 12 locations in Arizona, Minnesota, Illinois, Kansas, Nebraska, and Missouri. It operates community banking and wealth management businesses through 14 locations in Arizona, Minnesota, North Dakota, Illinois, Kansas, Nebraska, and Missouri. The company was founded in 1987 and is headquartered in Bismarck, North Dakota.

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bnccorp (BNCC) Key Developments

BNCCORP, Inc. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2013

BNCCORP, Inc. announced unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2013. For the quarter, the company reported net interest income of $6,013,000 compared to $4,660,000 a year ago. Income before income taxes was $2,547,000 compared to $5,353,000 a year ago. Net income available to common shareholders was $1,540,000 or $0.44 per diluted common share compared to $4,608,000 or $1.34 per diluted common share a year ago. Return on average common stockholders' equity was 12.29% compared to 46.28% a year ago. Return on average assets was 0.90% compared to 2.67% a year ago. Results for the fourth quarter of 2013 include lower non-interest income largely due to a decrease in mortgage banking revenues. This was partially offset by significantly higher net interest income, income on SBIC investments and lower non-interest expenses when compared to the prior year fourth quarter. For the year, the company reported net interest income of $19,845,000 compared to $18,471,000 a year ago. Income before income taxes was $12,449,000 compared to $21,344,000 a year ago. Net income available to common shareholders was $7,307,000 or $2.11 per diluted common share compared to $25,162,000 or $7.52 per diluted common share a year ago. Return on average common stockholders' equity was 15.15% compared to 90.04% a year ago. Return on average assets was 1.07% compared to 3.74% a year ago.

BNCCORP, Inc. Announces Consolidated Unaudited Earnings Results for the Third Quarter and Nine Months Ended September 30, 2013; Records Impairment Charge for the Third Quarter of 2013

BNCCORP, Inc. announced consolidated unaudited earnings results for the third quarter and nine months ended September 30, 2013. For the quarter, the company reported interest income of $5,560,000 compared with $6,095,000 for the same period a year ago. Net interest income was $4,616,000 compared with $4,767,000 for the same period a year ago. Income before income taxes was $166,000 compared with $9,290,000 for the same period a year ago. Net income available to common shareholders was $157,000 or $0.05 per diluted share compared with $14,676,000 or $4.41 per diluted share for the same period a year ago. Return on average common stockholders' equity was 1.30% compared with 156.76% for the same period a year ago. Return on average assets was 0.24% compared with 8.32% for the same period a year ago. Book value per common share was $14.75 as of September 30, 2013, compared to $14.35 as of June 30, 2013, $14.49 at December 31, 2012 and $13.60 at September 30, 2012. Interest income decreased due to lower interest rates on most assets as the yield on earning assets decreased to 2.94% in the third quarter of 2013, compared to 3.71% in the third quarter of 2012. The impact of lower rates was partially offset by increases in total average earning assets, which were $750.3 million in the third quarter of 2013 compared to $653.8 million in the same quarter of 2012. For the nine months, the company reported interest income of $16,769,000 compared with $18,130,000 for the same period a year ago. Net interest income was $13,832,000 compared with $13,811,000 for the same period a year ago. Income before income taxes was $9,902,000 compared with $15,991,000 for the same period a year ago. Net income available to common shareholders was $5,767,000 or $1.66 per diluted share compared with $20,554,000 or $6.21 per diluted share for the same period a year ago. Return on average common stockholders' equity was 15.63% compared with 96.15% for the same period a year ago. Return on average assets was 1.13% compared with 4.12% for the same period a year ago. Non-interest expense in the third quarter of 2013 included an impairment charge of $1.5 million while the same period in 2012 included $2.5 million of legal expenses associated with the insurance settlement received in the period.

BNCCORP, Inc. Announces Management Changes

BNCCORP, Inc. announced that the company's President and Chief Executive Officer, Gregory K. Cleveland, passed away after a sudden illness. The company's Board of Directors has appointed Chief Financial Officer Timothy J. Franz to succeed Mr. Cleveland as President and CEO of BNCCORP on an interim basis. Gregory Cleveland, age 65, served as an executive officer and director of BNC since he and Tracy Scott founded BNC in 1987. Timothy J. Franz, 55, has served as Chief Financial Officer of BNCCORP, INC. and BNC National Bank since 2006. Mr. Franz started his professional career at KPMG LLP in 1983, and was a partner at KPMG from 1997 to 2003. During his tenure at KPMG he focused on the financial services industry and served Wells Fargo, TCF Bank and several community banks. Mr. Franz has served on BNC National Bank's Board of Directors since 2006 and on BNCCORP, INC.'s Board of Directors since 2013. He has been active in several of BNC's operating committees since joining BNC.

 

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Industry Average

Valuation BNCC Industry Range
Price/Earnings 6.4x
Price/Sales 0.9x
Price/Book 0.9x
Price/Cash Flow 5.2x
TEV/Sales NM Not Meaningful
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