BNCCORP INC - BNCC STOCK NEWS

BNCCORP (BNCC) has announced a special, one-time cash dividend of $4.00 per share of common stock, payable on January 14, 2025, to shareholders of record on December 30, 2024. The total dividend distribution will amount to approximately $14.4 million.

The company's Chairman, Michael Vekich, stated that this special dividend aligns with their capital management strategy of returning excess capital to shareholders while maintaining adequate reserves for business operations and strategic investments. BNC operates community banking and wealth management services across 11 locations in North Dakota and Arizona.

BNCCORP (BNCC) reported Q3 2024 net income of $2.1 million ($0.59 per diluted share), up 37.4% from $1.5 million in Q3 2023. The Community Banking segment posted net income of $2.4 million. Key metrics include improved efficiency ratio of 69.02%, loans held for investment increased 2.2% to $683.2 million, and loan-to-deposit ratio rose to 85.8%. The company maintained a strong margin of 3.50% while managing deposit costs below market rates. Nonperforming assets were $5.9 million (0.64% of total assets), with $4.8 million supported by government guarantees. Tangible book value per share increased to $30.60, and the tangible common equity capital ratio improved to 11.65%.

BNCCORP, INC. (OTCQX Markets: BNCC) reported a significant rise in net income for the second quarter of 2024, reaching $1.9 million or $0.53 per diluted share, up from $574 thousand or $0.16 per share in the same period of 2023. The net interest margin improved to 3.58%, and the efficiency ratio slightly improved to 72.86%. The Community Banking segment reported net income of $2.2 million.

However, net interest income fell by 5.5% to $7.6 million from $8.0 million in the second quarter of 2023. Loans held for investment increased $18.2 million to $687 million. Interest expense rose by $973 thousand due to Federal Reserve rate hikes. Non-interest income for the Community Banking segment dropped by $401 thousand.

Nonperforming assets decreased to $3.1 million. Deposits decreased by $44.8 million to $792.4 million. Consolidated expenses increased by $319 thousand year-over-year.

BNCCORP, INC. reported a first-quarter net income of $1.7 million, showing an 18.1% increase from the previous year. The company's return on assets improved, with notable growth in community banking operations. Despite challenges like inflation, the company took strategic actions like declaring a special dividend and repurchasing shares to enhance shareholder value. Loans held for investment increased, but net interest income declined due to higher interest expenses. The Company's focus on credit quality, asset performance, and strong capital ratios reflects a sound financial position.

BNCCORP, INC. (BNC) reported a 46.3% increase in net income during the fourth quarter of 2023, with a special, one-time cash dividend of $2.25 per share declared for shareholders. The company's net interest margin and yields on loans held for investment improved, but non-performing assets and non-interest expenses increased. The Mortgage Banking segment reported a net income of $84 thousand for the quarter, compared to a net loss of $1.7 million in the same period of 2022.

BNCCORP, INC. (BNC) reported net income of $2.2 million for the quarter, compared to $3.1 million in the same period last year. The Mortgage Banking segment reported a net loss of $400 thousand. Net interest margin decreased to 3.57% from 3.66% in the previous year. Loans held for investment balances increased by $24.0 million. Non-performing assets remained unchanged at $1.4 million. Tangible book value per common share increased to $28.71 from $28.19.