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Last $20.81 USD
Change Today -0.16 / -0.76%
Volume 62.3K
BNCN On Other Exchanges
Symbol
Exchange
NASDAQ CM
As of 8:10 PM 09/4/15 All times are local (Market data is delayed by at least 15 minutes).

bnc bancorp (BNCN) Key Developments

BNC Bancorp Declares Quarterly Cash Dividend Payable August 28, 2015

On July 21, 2015, the Board of Directors of BNC Bancorp declared a $0.05 per share quarterly cash dividend on its common stock, payable August 28, 2015 to shareholders of record on August 14, 2015.

BNC Bancorp Reports Unaudited Earnings Results for the Second Quarter and Six Months Ended June 30, 2015

BNC Bancorp reported unaudited earnings results for the second quarter and six months ended June 30, 2015. For the quarter, the company reported net interest income of USD 38,733,000 compared to USD 33,901,000 a year ago. Income before income tax expense was USD 15,726,000 compared to USD 8,054,000 a year ago. Net income was USD 11,014,000 compared to USD 6,133,000 a year ago. Tangible net income available to common shareholders was USD 11,543,000 compared to USD 6,133,000 a year ago. Basic and diluted earnings per share were USD 0.34 compared to USD 0.21 a year ago. Return on average assets was 1.06% compared to 0.69% a year ago. Return on average common equity was 11.05% compared to 7.31% a year ago. Return on average tangible common equity was 14.59% compared to 9.21% a year ago. Operating return on average assets (non-GAAP) was 1.13% compared to 0.95% a year ago. Operating return on average tangible common equity (non-GAAP) was 15.58% compared to 12.43% a year ago. Operating earnings (non-GAAP) was USD 11,801,000 or USD 0.36 per diluted share compared to USD 8,402,000 or USD 0.29 per diluted share a year ago. For the six months, the company reported net interest income of USD 76,803,000 compared to USD 64,615,000 a year ago. Income before income tax expense was USD 27,995,000 compared to USD 16,561,000 a year ago. Net income was USD 19,772,000 compared to USD 12,617,000 a year ago. Tangible net income available to common shareholders was USD 20,830,000 compared to USD 13,203,000 a year ago. Diluted earnings per share were USD 0.60 compared to basic and diluted earnings per share of USD 0.45 a year ago. Tangible common book value was USD 9.87 per share, compared to USD 9.67 at March 31, 2015. Return on average assets was 0.96% compared to 0.76% a year ago. Return on average common equity was 10.04% compared to 8.30% a year ago. Return on average tangible common equity was 13.37% compared to 10.15% a year ago. Operating earnings (non-GAAP) was USD 22,316,000 or USD 0.68 per diluted share compared to USD 15,260,000 or USD 0.54 per diluted share a year ago. Operating return on average assets (non-GAAP) was 1.09% compared to 0.92% a year ago. Operating return on average tangible common equity (non-GAAP) was 15.01% compared to 12.18% a year ago.

BNC Bancorp Appoints Abney Boxley III as a Member of the Board

BNC Bancorp completed on July 1 the acquisition of Valley Financial Corp. At closing, Valley Financial merged into BNC Bancorp. Immediately following this merger, Valley Bank merged into the Bank of North Carolina. The transaction expands BNC Bancorp's presence into southwest Virginia and the Greater Roanoke metropolitan statistical area. The nine banking offices of Valley Bank will be operated as branches of Bank of North Carolina under the name of Valley Bank until system conversions are completed. Additionally, BNC Bancorp disclosed in its Form 8-K that, in accordance with the terms of the deal, its board increased the number of directors to 15 and appointed Abney Boxley III, a director of Valley Financial prior to the merger, to serve as a member of the board for a two-year term ending on the date of the 2017 annual shareholders meeting. Boxley will serve on the nominating and corporate governance committee of the company's board and on the asset/liability management committee of Bank of North Carolina.

BNC Bancorp Presents at Keefe Bruyette & Woods Sixteenth Annual Community Bank Investor Conference, Jul-28-2015 08:00 AM

BNC Bancorp Presents at Keefe Bruyette & Woods Sixteenth Annual Community Bank Investor Conference, Jul-28-2015 08:00 AM. Venue: Grand Central Grand Hyatt, New York, New York, United States. Speakers: David B. Spencer, Chief Financial Officer, Senior Executive Vice President, Chief Financial Officer of Bank of North Carolin and Senior Executive Vice President of Bank of North Carolin, Richard D. Callicutt, Chief Executive Officer, President, Director, Member of Executive Committee, Chief Executive Officer of Bank of North Carolina, President of Bank of North Carolina and Director of Bank of North Carolina.

BNC Bancorp Reports Unaudited Earnings Results for the First Quarter Ended March 31, 2015; Reports Unaudited Net Charge-Offs for the First Quarter Ended March 31, 2015

BNC Bancorp reported unaudited earnings results for the first quarter ended March 31, 2015. For the period, the company's net interest income was $38,070,000 against $30,714,000 a year ago. Net interest income after provision for loan losses was $37,960,000 against $28,153,000 a year ago. Income before income tax expense was $12,269,000 against $8,507,000 a year ago. Net income was $8,758,000 or $0.27 basic and diluted per share against $6,484,000 or $0.24 basic and diluted per share a year ago. Tangible common book value per share was $9.67 against $9.00 a year ago. Return on average assets was 0.87% against 0.83% a year ago. Return on average common equity was 9.01% against 9.70% a year ago. Operating earnings were $10,516,000 or $0.32 basic and diluted per share against $6,858,000 or $0.25 basic and diluted per share a year ago. For the period, the company's net charge-offs was $0.6 million against $4.6 million a year ago.

 

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BNCN

Industry Average

Valuation BNCN Industry Range
Price/Earnings 18.0x
Price/Sales 3.9x
Price/Book 1.7x
Price/Cash Flow 21.9x
TEV/Sales 2.2x
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