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BNC BANCORP

No Longer Reporting

The company has not filed an annual or quarterly report since its Q1 FY2017 10-Q, filed May 8, 2017. Its latest SEC filing is a 15-15D from Jun 27, 2017.

The sections below describe the company as of the FY2016 annual report.

What Did They Do?

Makes commercial and consumer loans and offers deposit and other banking services to individuals and small and medium-sized businesses.

How Did They Make Money?

Earns interest and fees from lending and investing, mainly by making business loans to small and medium-sized businesses.

FY2016 revenue

Who Were Their Customers?

Individuals and small and medium-sized businesses use the retail branch network for loans, deposit accounts and other banking services.

Did Revenues Turn Into Profits?

Yes. It kept 25 cents of every revenue dollar as net income in FY2016 and turned 15 cents into free cash flow.

Net income, FY2016
25% of revenue
▲ +42% vs FY2015 ($44.5M, 22%)
Free cash flow, FY2016
15% of revenue
▼ −9% vs FY2015 ($40.6M, 20%)

How Were They Changing?

Since the FY2016 annual report
Latest quarter: Q1 FY2017, the three months to Mar 31, 2017
Revenue
▲ +24%
vs $56.5M in Q1 FY2016
Net income
▼ 0%
vs $14.4M in Q1 FY2016
  • Jun 16, 2017 Pinnacle completed its merger with BNC BNC and Bank of North Carolina merged into Pinnacle and Pinnacle Bank; BNC shares converted into rights to receive Pinnacle shares.

Grew. Revenue grew 2.2x in 4 years, from $113.5M in FY2012 to $249.2M in FY2016, about 22% a year.

Insurance services The older report describes lending, deposits and a new wealth-management product suite; the latest also describes an insurance subsidiary offering personal and commercial coverage and employee benefits.

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