Nov. 16, 2015, 10:45 AM
- The cash and stock deal is valued at about $141.3M, based on BNC Bancorp's (BNCN flat) closing price on Friday. High Point Bank (OTCPK:HPTB +63.8%) owners can take $300 per share in cash for each share of HPTB they own, or shares in BNC.
- Subject to regulatory approval, the deal is hoped to close in Q2.
- Alongside the deal, BNC sells 2.25M shares in a secondary offering at $23.50 each. Net proceeds of $49.7M will be sued to help fund the cash portion of the High Point purchase.
Jun. 1, 2015, 9:45 AM
- BNC Bancorp (NASDAQ:BNCN) agrees to buy about $284M in deposits, $210M in loans and seven branches of CertusBank's South Carolina operation for a deposit premium of 2.75%.
- The deal is expected to be immediately accretive to BNC's EPS.
Nov. 17, 2014, 9:09 AM