お知らせ • Apr 29
OppFi Inc. (NYSE:OPFI) signed a definitive agreement to acquire BNCCORP, Inc. (OTCPK:BNCC) for approximately $130 million. OppFi Inc. (NYSE:OPFI) signed a definitive agreement to acquire BNCCORP, Inc. (OTCPK:BNCC) for approximately $130 million on April 28, 2026. The transaction is valued at approximately $130.7 million. Under the terms of the agreement, BNCC stockholders will receive $19.375 per share in cash, and 1.90 shares of OppFi Class A common stock for each BNCC share owned. OppFi stockholders will own approximately 93% and BNCC stockholders will own approximately 7% of the combined company at closing. Following the closing, OppFi Inc. will become a bank holding company and plans to contribute substantially all of its assets, liabilities and operations into its bank subsidiary, OppFi Bank, N.A. BNC will continue normal operations as a community banking division within OppFi Bank. In case of termination of transaction, OppFi Inc. will pay a termination fee of 1.50% and seller will pay a termination fee of 3.50%.
OppFi Bank will continue to be led by Dan Collins and the existing BNC management team. Todd Schwartz will lead the combined company as Chief Executive Officer and Executive Chairman. Michael Vekich will serve on the board of directors of OppFi Bank.
The transaction is subject to aThe transaction is subject to regulatory approvals from the OCC, the Federal Reserve and the FDIC, BNCC stockholder approval, and registration statement effectiveness(S-4 / F-4). The transaction has been unanimously approved by the boards of both companies. The expected completion of the transaction is the fourth quarter of 2026. OppFi expects to generate substantial synergies of at least $60 million in the first year post-closing, over $90 million in the second year post-closing and over $115 million in the third year post-closing. The transaction is expected to be significantly accretive, generating Adjusted EPS accretion of more than 25% in 2027 and more than 40% in 2028.
Joshua M. Samek and George M. Hunter of Sidley Austin LLP acted as legal advisor for OppFi Inc. Moelis & Company LLC acted as financial advisor for OppFi Inc. Karen L. Grandstrand and Caitlin Houlton Kuntz of Fredrikson & Byron P.A. acted as legal advisor for BNCCORP, Inc. Piper Sandler & Co. acted as financial advisor for BNCCORP, Inc. Piper Sandler & Co. acted as fairness opinion provider for BNCCORP, Inc. お知らせ • Dec 19
BNCCORP, Inc. Announces Special Cash Dividend, Payable on January 14, 2025 BNCCORP, INC. announced that its Board of Directors has declared a special, one-time cash dividend of $4.00 per share of BNCCORP, INC. common stock. The dividend is payable on January 14, 2025, to holders of record on December 30, 2024. The aggregate payment to be made in connection with the dividend will be approximately $14.4 million. お知らせ • Jun 18
First Federal Bank completed the acquisition of certain operating assets and assume certain liabilities of BNC Bank's mortgage division from BNCCORP, Inc. (OTCPK:BNCC). First Federal Bank entered into definitive agreement to acquire certain operating assets and assume certain liabilities of BNC Bank's mortgage division from BNCCORP, Inc. (OTCPK:BNCC) on April 12, 2023. As a result of the transaction, First Federal will continue mortgage origination activities in the Overland Park, KS, Moline, IL, Bismarck, ND and Glendale, AZ regions. The Board of Directors of BNCCRP approved the merger as part of BNCC's strategic decision to exit the residential mortgage origination business. The transaction is expected to close in the second quarter of 2023. Robert Flowers of Bradley Arant Boult Cummings LLP acted as legal advisor to First Federal Bank and Kaplan Strangis & Kaplan PA acted as legal advisor to BNCCORP, Inc.
First Federal Bank completed the acquisition of certain operating assets and assume certain liabilities of BNC Bank's mortgage division from BNCCORP, Inc. (OTCPK:BNCC) on June 16, 2023. お知らせ • May 25
BNCCORP, Inc., Annual General Meeting, Jun 22, 2023 BNCCORP, Inc., Annual General Meeting, Jun 22, 2023, at 08:30 Central Daylight. Agenda: To elect two directors; Ratify the appointment of Clifton Larson Allen LLP as BNC’s independent auditor for the year ending December 31, 2023; and Consider any other business that may properly come before the meeting. お知らせ • May 27
BNCCORP, Inc., Annual General Meeting, Jun 23, 2022 BNCCORP, Inc., Annual General Meeting, Jun 23, 2022, at 08:30 Central Daylight. Agenda: To elect one director; to ratify the appointment of CliftonLarsonAllen LLP as BNC s independent auditor for the year ending December 31, 2022; and to consider any other business that may properly come before the meeting. お知らせ • May 04
BNCCORP, Inc. Declares Special Cash Dividend, Payable on June 21, 2022 BNCCORP, INC. announced that its Board of Directors has declared a special, one-time cash dividend of $1.75 per share of BNCCORP, INC. common stock. The dividend is payable on June 21, 2022, to holders of record on June 1, 2022. お知らせ • Jul 17
BNCCORP, Inc. Announces Executive Changes BNCCORP, Inc. announced that its board of directors and Timothy J. Franz, president and chief executive officer, have mutually agreed that Mr. Franz would step down as chief executive officer, effective immediately. The company's Chief Financial Officer Daniel Collins has been elected chief executive officer on an interim basis. He will focus on the company’s near-term strategic priorities and facilitate BNCC’s management transition while the company seeks a permanent CEO.