Last $16.46 USD
Change Today +0.10 / 0.61%
Volume 28.7K
As of 1:24 PM 01/28/15 All times are local (Market data is delayed by at least 15 minutes).

bnc bancorp (BNCN) Snapshot

Open
$16.48
Previous Close
$16.36
Day High
$16.59
Day Low
$16.18
52 Week High
06/10/14 - $18.95
52 Week Low
10/1/14 - $15.51
Market Cap
485.2M
Average Volume 10 Days
53.7K
EPS TTM
$1.21
Shares Outstanding
23.8M
EX-Date
02/11/15
P/E TM
13.6x
Dividend
$0.20
Dividend Yield
1.22%
Current Stock Chart for BNC BANCORP (BNCN)

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bnc bancorp (BNCN) Details

BNC Bancorp operates as the bank holding company for Bank of North Carolina that provides commercial banking products and services to individuals, and small to medium size businesses. The company offers a range of deposit services, including non-interest bearing demand accounts, interest-bearing demand and savings accounts, money market accounts, and time deposits. Its loan products portfolio comprises real estate loans, including loans for purchasing and refinancing 1-4 family, multi-family, and commercial properties; and real estate construction loans for constructing 1-4 family and multi-family residential properties, the acquisition and development of land, and the construction of commercial properties. The company’s loan portfolio also includes commercial and industrial loans and leases, such as secured and unsecured loans for working capital, expansion, and other business purposes; and consumer and other loans comprising home equity lines of credit, automobile loans, boat and recreational vehicle financing, and miscellaneous secured and unsecured personal loans. It operates 39 branch offices in North and South Carolina. BNC Bancorp was founded in 1991 and is headquartered in High Point, North Carolina.

bnc bancorp (BNCN) Top Compensated Officers

Chief Executive Officer, President, Director,...
Total Annual Compensation: $434.2K
Chief Financial Officer, Senior Executive Vic...
Total Annual Compensation: $397.7K
Chief Accounting Officer, Executive Vice Pres...
Total Annual Compensation: $270.7K
Vice Chairman, Consultant, Vice Chairman of ...
Total Annual Compensation: $423.9K
Compensation as of Fiscal Year 2013.

bnc bancorp (BNCN) Key Developments

BNC Bancorp Approves Amendments to Its Bylaws

On January 21, 2015, the Board of Directors of BNC Bancorp approved and adopted the company's amended and restated bylaws, effective as of January 21, 2015. The Bylaws clarify and modify advance notice requirements for shareholder submission of meeting proposals and director nominees, as set out in Section 13 of Article II and Section 3 of Article III of the Bylaws, respectively. Among other things, the modification requires proposing shareholders to provide written notice to the Company no later than ninety (90) days and no earlier than one hundred twenty (120) days prior to the one-year anniversary of the Company's mailing of the previous year's proxy materials. Furthermore, the Bylaws specify additional disclosure requirements for proposing shareholders and clarify that the proposing shareholders and shareholder nominees must comply with the applicable requirements of the Securities Exchange Act of 1934, as amended. Additionally, the Bylaws include revisions to amend the mandatory retirement age of directors from sixty-five (65) to seventy-two (72), as set out in Section 2 of Article III. The modification also grants the Board the ability to vote, on a year to year basis, to waive the mandatory age of retirement for any such director by one year.

BNC Bancorp Declares Quarterly Cash Dividend on Common Stock, Payable February 27, 2015

On January 20, 2015, the Board of Directors of BNC Bancorp declared a $0.05 per share quarterly cash dividend on its common stock, payable February 27, 2015 to shareholders of record on February 13, 2015.

BNC Bancorp Reports Unaudited Earnings Results for the Fourth Quarter and Year Ended December 31, 2014

BNC Bancorp reported unaudited earnings results for the fourth quarter and year ended December 31, 2014. Operating earnings for the quarter ended December 31, 2014 totaled $10.3 million, or $0.34 per diluted share, an increase of 6.2% compared to $9.7 million, or $0.33 per diluted share, for the quarter ended September 30, 2014, and an increase of 80.3% from operating earnings of $5.7 million, or $0.21 per diluted share, for the quarter ended December 31, 2013.  Operating earnings exclude non-operating income and expenses, which include transaction-related expenses, acquisition-related gains, one-time income and expense items, and gain (loss) on sale of investment securities. Net income for the fiscal year ended December 31, 2014 was $29.4 million, or $1.01 per diluted share, an increase of 81.6% from net income available to common shareholders of $16.2 million, or $0.61 per diluted share, for the fiscal year ended December 31, 2013.  The increase in net income from 2013 is primarily due to the significant increase in interest-earning assets due to the acquisitions of South Street Financial Corporation and Community First Financial Group Inc., respectively, during 2014, as well as the acquisition of Harbor Bank Group, which closed on December 1, 2014.  Fully-taxable equivalent net interest income for the fourth quarter of 2014 was $39.4 million, an increase of 3.5% from $38.1 million for the third quarter of 2014, and an increase of 23.7% from $31.8 million for the fourth quarter of 2013. Income before income tax expense was $11,879,000 against $3,987,000 a year ago. Return on average assets was 0.89% against 0.41% a year ago. Return on average common equity was 9.59% against 4.79% a year ago. Operating earnings for the fiscal year ended December 31, 2014 totaled $35.3 million, or $1.21 per diluted share, an increase of 84.7% compared to operating earnings of $19.1 million, or $0.71 per diluted share, for the fiscal year ended December 31, 2013.  Net income for the quarter ended December 31, 2014 was $8.5 million, or $0.28 per diluted share, a slight increase compared to net income of $8.3 million, or $0.28 per diluted share, for the quarter ended September 30, 2014, and an increase of 160.0% from net income of $3.3 million, or $0.12 per diluted share, for the quarter ended December 31, 2013.  FTE net interest income for the year ended December 31, 2014 was $146.0 million, an increase of 26.1% from $115.8 million for the year ended December 31, 2013. Income before income tax expense was $39,755,000 against $21,292,000 a year ago. Return on average assets was 0.83% against 0.54% a year ago. Return on average common equity was 9.09% against 6.28% a year ago. Tangible common book value per share was $9.41 against $8.66 a year ago. The increase in net income from 2013 is primarily due to the significant increase in interest-earning assets due to the acquisitions of South Street Financial Corporation and Community First Financial Group Inc., respectively, during 2014, as well as the acquisition of Harbor Bank Group, which closed on December 1, 2014.

 

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BNCN Competitors

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Company Last Change
Ameris Bancorp $23.28 USD -0.22
Capital City Bank Group Inc $14.92 USD +0.15
Community Trust Bancorp Inc $32.17 USD -0.10
Republic Bancorp Inc/KY $23.27 USD -0.40
State Bank Financial Corp $19.28 USD -0.05
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Industry Analysis

BNCN

Industry Average

Valuation BNCN Industry Range
Price/Earnings 16.4x
Price/Sales 3.2x
Price/Book 1.3x
Price/Cash Flow 16.6x
TEV/Sales -- Not Meaningful
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