BNCCORP, INC. Announces Withdrawal of Private Placement
BISMARCK, N.D., Aug. 31, 2012 /PRNewswire/ -- BNCCORP, INC. ("BNC" or the "Company") (OTC Markets: BNCC), announced today that its previously disclosed private offering of up to 9,200,000 shares of its newly issued common stock has been terminated. The Company intends to promptly cause the return of all subscription funds deposited into escrow by prospective investors in connection with the offering in accordance with the terms of the offering.
This press release does not and shall not constitute an offer to sell or the solicitation of any offer to buy any securities of the Company.
About the Company
BNCCORP, INC., headquartered in Bismarck, N.D., is a registered bank holding company dedicated to providing banking and wealth management services to businesses and consumers in its local markets. The Company operates community banking and wealth management businesses in Arizona, Minnesota and North Dakota from 14 locations. BNC also conducts mortgage banking from 13 locations in Illinois, Kansas, Nebraska, Missouri, Minnesota and Arizona.
This news release may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 with respect to the financial condition, results of operations, plans, objectives, future performance and business of BNC. Forward-looking statements, which may be based upon beliefs, expectations and assumptions of our management and on information currently available to management are generally identifiable by the use of words such as "expect", "believe", "anticipate", "plan", "intend", "estimate", "may", "will", "would", "could", "should", or other expressions. We caution readers that these forward-looking statements, including, without limitation, those relating to our future business prospects, revenues, working capital, liquidity, capital needs, interest costs and income, are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements due to several important factors. These factors include, but are not limited to: risks of loans and investments, including dependence on local and regional economic conditions; competition for our customers from other providers of financial services; possible adverse effects of changes in interest rates, including the effects of such changes on derivative contracts and associated accounting consequences; risks associated with our acquisition and growth strategies; and other risks which are difficult to predict and many of which are beyond our control. In addition, all statements in this news release, including forward-looking statements, speak only of the date they are made, and the Company undertakes no obligation to update any statement in light of new information or future events.
SOURCE BNCCORP, INC.