BNCCORP, INC. Reports Third Quarter Net Income of $438 Thousand, or $0.03 Per Diluted Share

2010 Third Quarter Overview

-- Profitable results reflect higher non-interest income and reduced non-interest expense, partially offset by a decrease in net interest income

-- Nonperforming assets continue to decline resulting in sharply lower provisions for credit and real estate losses compared to a year ago

-- Regulatory capital ratios improve

Oct 28, 2010, 17:10 ET from BNCCORP, INC.

BISMARCK, N.D., Oct. 28 /PRNewswire-FirstCall/ -- BNCCORP, INC. (BNC or the Company) (Pink Sheets: BNCC), which operates community banking and wealth management businesses in Arizona, Minnesota and North Dakota, and has mortgage banking offices in Iowa, Kansas, Nebraska, Missouri, Minnesota and Arizona, today reported financial results for the third quarter and nine months ended September 30, 2010.  

Net income for the 2010 third quarter was $438 thousand, or $0.03 per diluted share. This compared to the net loss of $(21.890) million, or $(6.81) per diluted share, in the third quarter of 2009. The third quarter 2010 results reflect lower net interest income, which was more than offset by the benefits of higher non-interest income, lower non-interest expenses and lower costs for credit and real estate. The third quarter of 2009 was characterized by large provisions for credit and real estate costs. Since September 30, 2009 and throughout 2010, the amount of nonperforming assets has declined significantly.

Gregory K. Cleveland, BNCCORP President and Chief Executive Officer, stated, "We believe it is critical for community banks in the current recessionary cycle to address credit issues, maintain liquidity, and manage capital. BNC continues to focus sharply on these areas. As a result, we  have  reduced nonperforming assets for the fourth consecutive quarter such that our nonperforming assets are now almost one-third lower than they were a year ago. Given our belief that the country is in an extended recessionary cycle, much work remains in the crucial area of credit quality, but we are pleased to be showing significant progress. While our third quarter profit is a positive, it may be more important that our balance sheet continues to offer liquidity as we continue to strengthen regulatory capital ratios at the bank."

Third Quarter Results

Net interest income for the third quarter of 2010 was $5.777 million, a decrease of $2.076 million, or 26.4%, from $7.853 million in the same period of 2009. The net interest margin for the current period decreased to 3.27% from 3.70% in the same period of 2009. The reduction in net interest income reflects lower interest rates, reduced balances of investments and loans, and higher balances of liquid cash equivalents, which aggregated $48.5 million at September 30, 2010, compared to $10.1 million at September 30, 2009.

The provision for credit losses was $1.250 million in the third quarter of 2010, down from $22.300 million in the third quarter of 2009. The third quarter of 2009 was characterized by large provisions for credit and real estate costs. Nonperforming loans have decreased $14.0 million, or 38.1%, from $36.7 million at September 30, 2009, to $22.7 million as of September 30, 2010.

Non-interest income for the third quarter of 2010 was $5.603 million, an increase of $2.115 million, up 60.6% from $3.488 million in the same period of 2009. Mortgage banking revenues, which aggregated $3.248 million,  rose by $1.085 million, or 50.2%, from the third quarter of 2009 as low interest rates and government sponsorship in the secondary market have created conditions that favor mortgage banking. Gains on sales of investment securities aggregated $517 thousand during the recent quarter compared to $153 thousand in the third quarter of 2009. The portfolio reflected net unrealized gains at the end of September. The opportunity to sell assets at attractive prices can vary from period to period. The 2010 third quarter also reflects higher gains on sales of loans and increases in wealth management revenues; the latter trend is expected to reverse in 2011.

Non-interest expense decreased by $3.053 million, or 24.0%, to $9.692 million in the third quarter of 2010 compared to $12.745 million in the same period of 2009. This decrease primarily relates to lower costs on foreclosed assets. Excluding other real estate costs, non-interest expense aggregated $8.594 million, an increase of $550 thousand compared to the third quarter of 2009. This increase can be attributed to increased regulatory costs and expenses incurred by mortgage banking operations.

Tax expense of $0 was recognized during the third quarter of 2010 as the Company has net operating loss carryforwards for federal and state tax purposes. A tax benefit of $1.814 million, or 7.7% of pre-tax losses, was recognized during the third quarter of 2009.

Net income available to common shareholders was $101 thousand, or $0.03 per share, for the third quarter after accounting for dividends accrued on preferred stock and the amortization of issuance discounts on preferred stock. These costs aggregated $337 thousand in the third quarter of 2010. Net loss available to common shareholders in 2009 was $(22.220) million, or $(6.81) per diluted share.

Fraud Loss on Assets Serviced by Others

As previously reported, the Company discovered fraudulent activity in April of this year by a third-party servicing company in relation to residential mortgage loans serviced by the third-party.  Since April, the Company and its advisors have been diligently addressing this matter.  In the second quarter, the Company determined the scope of the fraud losses and recorded a loss of $26.231 million.  Our internal and external investigations have confirmed that this fraudulent activity was limited to this single servicing company and that no bank employees were involved in or were aware of this wrongful conduct by the servicing company.  As such, we believe these losses are not indicative of other credit quality problems within our loan portfolio.

The Company is currently pursuing available remedies, and is committed to taking such other actions that may be reasonably available to recover the losses associated with this matter.  We have submitted claims under our fidelity insurance policies seeking to recover the insured portion of these losses, which policies together provide for total coverage of $15 million.  However, as of mid October, our insurance carriers commenced a declaratory judgment action against us in an Arizona federal court seeking a judicial determination that the losses associated with the third-party servicing fraud are not covered by the policy.  We intend to vigorously pursue our claims for recovery under our insurance policies and believe we have a strong claim under the policies.  However, we can provide no assurances as to the outcome of this litigation.

The Company is providing adjusted earnings in addition to reported results prepared in accordance with generally accepted accounting principles in order to present financial information without the impact of the fraud loss on assets serviced by others. The following table reconciles the net loss available to common shareholders as prepared in accordance with generally accepted accounting principles to our determination of adjusted earnings:

Three Months Ended

Nine Months Ended

September 30, 2010

September 30, 2010

Amount

Diluted per share (1)

Amount

Diluted per share (1)

Net income (loss)

$

438

$

0.03

$

(22,593)

$

(7.19)

Fraud loss on assets serviced by others

-

-

26,231

8.00

Accrued interest reversed on assets serviced by others

-

-

287

0.08

Legal and professional fees associated with the fraud loss on assets serviced by others

255

0.08

656

0.20

Adjusted earnings

$

693

$

0.11

$

4,581

$

1.09

(1) Per share amounts represent amounts available to common shareholders

Nine Months Ended September 30, 2010

Net interest income for the nine month period ended September 30, 2010 was $17.928 million, a decrease of $4.423 million, or 19.8%, from $22.351 million in the same period of 2009. The net interest margin for the current period decreased to 3.25% from 3.62% in the same period of 2009. The reduction in net interest income reflects lower interest rates, reduced balances of investments and loans, and higher balances of liquid cash equivalents, which aggregated $48.5 million at September 30, 2010, compared to $10.1 million at September 30, 2009.

The provision for credit losses was $4.750 million in the first nine months of 2010, substantially below the $26.000 million reported in the first nine months of 2009. The third quarter of 2009 was characterized by large provisions for credit and real estate costs. Nonperforming loans have decreased steadily since September 30, 2009 to $22.7 million as management continues to monitor the credit portfolio diligently.

Non-interest income for the first nine months of 2010 was $17.449 million, an increase of $5.920 million, up 51.3% from $11.529 million in the same period of 2009. Mortgage banking revenues rose by $2.607 million, or 46.1%, from the first nine months of 2009, to $8.262 million, as low interest rates and government sponsorship in the secondary market have created conditions that favor mortgage banking. Gain on sales of investment securities aggregated $4.390 million during the first nine months of 2010 compared to $2.024 million in the first nine months of 2009. The portfolio reflected net unrealized gains at the end of September. The opportunity to sell assets at attractive prices can vary from period to period.

Excluding the fraud loss on assets serviced by others recognized in the second quarter of 2010, non-interest expense decreased by $3.278 million, or 10.9%, to $26.917 million for the nine month period ended September 30, 2010 compared to $30.195 million in the same period of 2009. This decrease was due primarily to lower costs related to foreclosed assets, which aggregated $1.830 million in the first nine months of 2010 and $7.281 million for the same period in 2009. Excluding fraud losses and costs associated with foreclosed assets, non-interest expense aggregated $25.087 million for the first nine months of 2010 and $22.914 million for the same period in 2009. This increase can be attributed to increased regulatory costs and expenses incurred by mortgage banking operations.

Tax expense of $72 thousand was recognized during the nine month period ended September 30, 2010. Although the Company has net operating loss carryforwards for federal tax purposes, a provision for taxes was recorded in 2010 to address state tax obligations. The tax benefit in the nine month period ended September 30, 2009 was $1.564 million, or 7.0% of pre-tax losses.

Net loss available to common shareholders was $(23.585) million, or $(7.19) per share, for the nine months ended September 30, 2010 after accounting for dividends accrued on preferred stock and the amortization of issuance discounts on preferred stock. These costs aggregated $992 thousand in the first nine months of 2010. Net loss available to common shareholders in 2009 was $(21.674) million, or $(6.64) per diluted share.

Assets, Liabilities and Equity

Total assets were $749.0 million at September 30, 2010, a decrease of $119.1 million, or 13.7%, compared to $868.1 million at December 31, 2009. Loans held for investment decreased by $71.4 million as the Company has focused on reducing exposure to credit risk. Repayments on investment securities, and sales thereof, reduced investment balances by $62.3 million since the beginning of the year.

Total deposits were $661.9 million at September 30, 2010, decreasing by $94.0 million from 2009 year-end. Core deposits aggregated $586.0 million, $640.2 million and $633.2 million at September 30, 2010, December 31, 2009 and September 30, 2009, respectively. The decline in core deposits is part of the Company's strategy to reduce higher cost certificates of deposit and emphasize lower cost non-interest bearing checking and money market accounts. Lower cost deposits increased by approximately $25.5 million during the first nine months of 2010. This increase was offset by a decline in higher cost time deposits of $119.6 million.

Other borrowings decreased by $9.627 million during the first nine months of 2010, as the Company focused on reducing its higher cost debt. Available borrowing capacity from the FHLB was approximately $76.1 million as of September 30, 2010 and the Company had $0 of FHLB advances outstanding at quarter end.

Total equity was $36.6 million at September 30, 2010, compared to $57.3 million at December 31, 2009. The book value per common share was $4.88 as of September 30, 2010, compared to $11.24 as of December 31, 2009.

Trust assets under supervision were $296.3 million at September 30, 2010, compared to $342.5 million at December 31, 2009. The decrease in assets under supervision relates to declines  in our employee benefit areas offset by appreciation of securities in 2010.

Regulatory Capital

Banks and their bank holding companies generally operate under separate regulatory capital requirements.

At September 30, 2010, BNCCORP's tier 1 leverage ratio was 6.06%, the tier 1 risk-based capital ratio was 8.70%, and the total risk-based capital ratio was 12.25%. Tangible common equity at September 30, 2010 was 2.13%.

At September 30, 2010, BNC National Bank had a tier 1 leverage ratio of 7.43%, a tier 1 risk-based capital ratio of 10.64%, and a total risk-based capital ratio of 11.92%. Tangible capital to tangible assets for BNC National Bank was 7.87%.

Asset Quality

Challenging economic conditions have led to elevated credit risk throughout the lending industry. As a result, the Company is carefully monitoring asset quality and taking what it believes to be prudent and appropriate action to strengthen its credit metrics.

The Company's credit quality trends have recently been characterized by a decrease in nonperforming assets both in dollar terms and as a percentage of total assets. The provision for credit losses and other real estate costs was $2.250 million in the third quarter of 2010, declining from $26.902 million in the third quarter of 2009. Nonperforming assets decreased by $13.8 million, or 29.3% since September 30, 2009 and by $9.8 million or 22.8% since December 31, 2009. The ratio of total nonperforming assets to total assets was 4.45% at September 30, 2010, compared with 4.97% at December 31, 2009.

The allowance for credit losses was $16.8 million, $18.0 million and $21.0 million at September 30, 2010, December 31, 2009 and September 30, 2009, respectively. The allowance for credit losses as a percentage of total loans at September 30, 2010 was 3.29%, compared with 3.11% at December 31, 2009 and 3.49% at September 30, 2009. The allowance for credit losses as a percentage of loans and leases held for investment at September 30, 2010 was 3.76%, compared with 3.49% at December 31, 2009 and 3.85% at September 30, 2009. The ratio of the allowance for credit losses to total nonperforming loans as of September 30, 2010 was 74% compared to 50% at December 31, 2009 and 57% at September 30, 2009.

At September 30, 2010, BNC had $52.4 million of classified loans, $22.7 million of loans on non-accrual and $10.6 million of other real estate owned. At December 31, 2009, BNC had $54.2 million of classified loans, $35.9 million of loans on non-accrual and $7.3 million of other real estate owned. At September 30, 2009, BNC had $56.8 million of classified loans, $36.4 million of loans on non-accrual and $10.4 million of other real estate owned.

Since December 31, 2009, other real estate has increased by $3.3 million, as certain nonperforming loans have migrated into foreclosure.

BNC has concentrations in real estate loans and mortgage banking relationships as shown in the table on page 16.

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 18 locations. BNC also conducts mortgage banking from 10 locations in Iowa, 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.

(Financial tables attached)

BNCCORP, INC.

CONSOLIDATED FINANCIAL DATA

(Unaudited)

For the Quarter

Ended September 30,

For the Nine Months

Ended September 30,

(In thousands, except per share data)

2010

2009

2010

2009

SELECTED INCOME STATEMENT DATA

Interest income

$    8,133

$    11,611

$    25,873

$    33,703

Interest expense

2,356

3,758

7,945

11,352

Net interest income

5,777

7,853

17,928

22,351

Provision for credit losses

1,250

22,300

4,750

26,000

Non-interest income

5,603

3,488

17,449

11,529

Non-interest expense

9,692

12,745

53,148

30,195

Income (loss) before income taxes

438

(23,704)

(22,521)

(22,315)

Income tax expense (benefit)

-

(1,814)

72

(1,564)

Net income (loss)

438

(21,890)

(22,593)

(20,751)

Preferred stock costs

(337)

(330)

(992)

(923)

Net income (loss) available to common shareholders

$      101

$  (22,220)

$    (23,585)

$  (21,674)

EARNINGS PER SHARE DATA

Basic earnings (loss) per common share

$    0.03

$     (6.81)

$    (7.19)

$     (6.64)

Diluted earnings (loss) per common share

$    0.03

$     (6.81)

$    (7.19)

$     (6.64)

BNCCORP, INC.

CONSOLIDATED FINANCIAL DATA

(Unaudited)

For the Quarter

Ended September 30,

For the Nine Months

Ended September 30,

(In thousands, except share data)

2010

2009

2010

2009

ANALYSIS OF NON-INTEREST INCOME

Bank charges and service fees

$       629

$       562

$     1,828

$     1,662

Wealth management revenues

612

433

1,773

1,512

Mortgage banking revenues

3,248

2,163

8,262

5,655

Gains on sales of loans, net

212

2

212

88

Gains on sales of securities, net

517

153

4,390

2,024

Other

385

175

984

588

Total non-interest income

$    5,603

$    3,488

$  17,449

$   11,529

ANALYSIS OF NON-INTEREST EXPENSE

Salaries and employee benefits

$    3,774

$    3,803

$   11,767

$   11,238

Professional services

1,354

667

3,472

1,936

Other real estate costs

1,098

4,701

1,830

7,281

Data processing fees

737

607

2,005

1,681

Occupancy

734

617

2,162

1,886

Regulatory costs

599

323

1,427

1,101

Depreciation and amortization

336

402

989

1,132

Marketing and promotion

329

360

1,003

866

Office supplies and postage

138

144

444

442

Fraud loss on assets serviced by others

-

-

26,231

-

Other

593

1,121

1,818

2,632

Total non-interest expense

$  9,692

$  12,745

$  53,148

$  30,195

WEIGHTED AVERAGE SHARES

Common shares outstanding (a)

3,281,719

3,261,831

3,281,719

3,261,831

Incremental shares from assumed conversion of options and contingent shares

-

7,524

-

15,855

Adjusted weighted average shares (b)

3,281,719

3,269,355

3,281,719

3,277,686

(a) Denominator for Basic Earnings Per Common Share

(b) Denominator for Diluted Earnings Per Common Share

BNCCORP, INC.

CONSOLIDATED FINANCIAL DATA

(Unaudited)

As of

(In thousands, except share, per share and full time equivalent data)

September 30, 2010

December 31, 2009

September 30, 2009

SELECTED BALANCE SHEET DATA

Total assets

$   748,991

$   868,083

$   903,006

Loans held for sale

50,691

24,130

23,689

Participating interests in mortgage loans

12,943

38,534

31,436

Loans and leases held for investment

445,726

517,108

545,603

Total loans

509,360

579,772

600,728

Allowance for credit losses

(16,757)

(18,047)

(20,988)

Investment securities available for sale

150,322

212,661

244,592

Other real estate, net

10,571

7,253

10,446

Earning assets

685,156

802,078

833,604

Total deposits

661,929

755,963

777,865

Core deposits

586,011

640,169

633,174

Other borrowings

38,453

48,080

58,213

Cash and cash equivalents

48,496

35,362

10,147

OTHER SELECTED DATA

Net unrealized gains (losses) in investment portfolio, pretax

$      2,329

$     (355)

$      1,143

Trust assets under supervision

$  296,336

$ 342,451

$  385,414

Total common stockholders' equity

$    16,143

$   36,980

$    37,204

Book value per common share

$        4.88

$     11.24

$      11.30

Effect of net unrealized gains (losses) on securities available for sale, net of tax, on book value per common share

$        0.51

$    (0.30)

$        0.22

Book value per common share, excluding effect of unrealized gains (losses) on securities

$        4.37

$     11.54

$      11.08

Full time equivalent employees

277

318

324

Common shares outstanding

3,305,219

3,290,219

3,293,445

CAPITAL RATIOS

Tier 1 leverage (Consolidated)

6.06%

8.58%

8.23%

Tier 1 risk-based capital (Consolidated)

8.70%

12.32%

11.28%

Total risk-based capital (Consolidated)

12.25%

14.15%

13.13%

Tangible common equity (Consolidated)

2.13%

4.23%

4.10%

Tier 1 leverage (BNC National Bank)

7.43%

8.54%

6.53%

Tier 1 risk-based capital (BNC National Bank)

10.64%

12.25%

8.94%

Total risk-based capital (BNC National Bank)

11.92%

13.52%

12.46%

Tangible capital (BNC National Bank)

7.87%

8.65%

6.62%

BNCCORP, INC.

CONSOLIDATED FINANCIAL DATA

(Unaudited)

For the Quarter

Ended September 30,

For the Nine Months

Ended September 30,

(In thousands)

2010

2009

2010

2009

AVERAGE BALANCES

Total assets

$  767,027

$  915,682

$  800,776

$  898,589

Loans held for sale

34,904

21,515

24,195

23,296

Participating interests in mortgage loans

14,868

29,584

22,676

28,372

Loans and leases held for investment

466,209

553,747

491,843

550,092

Total loans

515,981

604,846

538,714

601,760

Investment securities available for sale

154,309

235,249

174,367

224,294

Earning assets

700,568

841,929

738,280

826,362

Total deposits

683,501

755,013

705,947

710,821

Core deposits

605,012

615,681

609,978

589,998

Total equity

38,094

76,640

49,219

74,771

Cash and cash equivalents

54,338

10,338

44,410

10,153

KEY RATIOS

Return on average common stockholders' equity

2.25%

(156.24)%

(109.29)%

(52.03)%

Return on average assets

0.23%

(9.48)%

(3.77)%

(3.09)%

Net interest margin

3.27%

3.70%

3.25%

3.62%

Efficiency ratio

85.17%

112.38%

150.23%

89.12%

Efficiency ratio, excluding gains on sales of securities and provisions for real estate losses

80.01%

69.13%

166.25%

70.69%

BNCCORP, INC.

CONSOLIDATED FINANCIAL DATA

(Unaudited)

As of

(In thousands)

September 30, 2010

December 31, 2009

September 30, 2009

ASSET QUALITY

Loans 90 days or more delinquent and still accruing interest

$          1

$           1

$        252

Non-accrual loans

22,725

35,889

36,430

Total nonperforming loans

$  22,726

$  35,890

$   36,682

Other real estate, net

10,571

7,253

10,446

Total nonperforming assets

$  33,297

$  43,143

$   47,128

Allowance for credit losses

$  16,757

$  18,047

$   20,988

Ratio of total nonperforming loans to total loans

4.46%

6.19%

6.11%

Ratio of total nonperforming assets to total assets

4.45%

4.97%

5.22%

Ratio of allowance for credit losses to loans and leases held for investment

3.76%

3.49%

3.85%

Ratio of allowance for credit losses to total loans

3.29%

3.11%

3.49%

Ratio of allowance for credit losses to nonperforming loans

74%

50%

57%

For the Quarter

For the Nine Months

Ended September 30,

Ended September 30,

2010

2010

Changes in Nonperforming Loans:

Balance, beginning of period

$

24,682

$

35,890

Additions to nonperforming

320

5,066

Charge-offs

(632)

(3,266)

Reclassified back to performing

-

(4,111)

Principal payment received

(815)

(4,259)

Transferred to other real estate owned

(829)

(6,594)

Balance, end of period

$

22,726

$

22,726

BNCCORP, INC.

CONSOLIDATED FINANCIAL DATA

(Unaudited)

For the Quarter

For the Nine Months

Ended September 30,

Ended September 30,

2010

2010

Changes in Other Real Estate:

Balance, beginning of period

$

12,315

$

7,253

Transfers from nonperforming loans

829

8,093

Real estate sold

(1,581)

(2,995)

Net gains (losses) on sales of assets

8

(147)

Provision

(1,000)

(1,633)

Balance, end of period

$

10,571

$

10,571

(In thousands)

For the Quarter

Ended September 30,

For the Nine Months

Ended September 30,

2010

2009

2010

2009

Changes in Allowance for Credit Losses:

Balance, beginning of period

$    18,170

$    10,339

$    18,047

$     8,751

Provision

1,250

22,300

4,750

26,000

Loans charged off

(2,995)

(11,665)

(6,408)

(13,935)

Loan recoveries

332

14

368

172

Balance, end of period

$    16,757

$    20,988

$    16,757

$   20,988

Ratio of net charge-offs to average total loans

(0.516)%

(1.926)%

(1.121)%

(2.287)%

Ratio of net charge-offs to average total loans, annualized

(2.064)%

(7.705)%

(1.495)%

(3.049)%

BNCCORP, INC.

CONSOLIDATED FINANCIAL DATA

(Unaudited)

As of

(In thousands)

September 30, 2010

December 31, 2009

CREDIT CONCENTRATIONS

North Dakota

   Commercial and industrial

$

75,681

$

84,400

   Construction

1,637

4,572

   Agricultural

18,562

22,422

   Land and land development

10,781

12,321

   Owner-occupied commercial real estate

26,667

27,960

   Non-owner-occupied commercial real estate

13,052

12,419

   Small business administration

2,664

2,434

   Consumer/participating interests

16,493

17,754

     Subtotal

$

165,537

$

184,282

Arizona

   Commercial and industrial

$

11,426

$

19,740

   Construction

-

2,136

   Agricultural

-

-

   Land and land development

10,610

18,541

   Owner-occupied commercial real estate

19,604

23,508

   Non-owner-occupied commercial real estate

33,136

32,497

   Small business administration

5,532

5,042

   Consumer/participating interests

17,891

33,503

     Subtotal

$

98,199

$

134,967

Minnesota

   Commercial and industrial

$

3,515

$

10,589

   Construction

1,975

4,698

   Agricultural

31

33

   Land and land development

11,505

12,641

   Owner-occupied commercial real estate

17,231

18,675

   Non-owner-occupied commercial real estate

21,383

25,203

   Small business administration

873

1,025

   Consumer/participating interests

6,765

8,650

     Subtotal

$

63,278

$

81,514

SOURCE BNCCORP, INC.



RELATED LINKS

http://www.bnccorp.com