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BNC Bancorp in High Point, N.C., has filed to sell up to $150 million in securities. The $3.7 billion-asset company said in a filing Tuesday that it could issue common and preferred stock, debt securities and other securities from time to time.
August 28 -
BNC Bancorp (BNCN) in High Point, N.C., has agreed to buy Harbor Bank Group in Charleston, S.C.
June 5 -
South Street Financial had just given up on raising capital and had hired Raymond James to evaluate possible suitors when a BNC representative visited the CEO's office to request merger talks.
February 19
BNC Bancorp in High Point, N.C., increased profits by nearly two-thirds thanks to higher net interest income and other factors.
BNC
Net interest income was $38.1 million, up 33.7% from 2013's third quarter, while net interest margin rose 28 basis points to 4.54%. Increased interest-earning assets and lower deposit costs contributed to those improvements.
Noninterest income rose approximately 8.7%, to $6.3 million.
Noninterest expense rose 25%, to $29.8 million, because of the acquisitions of Community First Financial Group and South Street Financial in the second quarter as well as other factors. A deal for Harbor Bank Group in Charleston, S.C., is expected to close this December, BNC's Chief Executive officer Richard D. Callicutt II said in a news release Friday.