BNCCORP, INC. Shares Commence Trading on OTCQX Marketplace; Stock Symbol Remains "BNCC"
BISMARCK, N.D., Nov. 12, 2014 /PRNewswire/ -- BNCCORP, INC. (OTCQX: BNCC) announced that its common stock began trading today on the OTCQX marketplace, operated by OTC Markets Group, Inc. Previously, the Company's shares traded on the OTCQB venture marketplace. The Company's stock symbol, "BNCC," remains the same.
BNCCORP, INC. is a bank holding company with total assets of nearly $900 million at September 30, 2014, whose principal subsidiary is BNC National Bank.
OTCQX is the best marketplace for established global and growth companies operated by OTC Markets Group. OTCQX for banks is an expansion of the OTCQX marketplace and was created to provide a shareholder-friendly trading experience for strongly capitalized, well managed banking institutions that have committed to provide higher level reporting and greater transparency to investors. To qualify for OTCQX, financial institutions must meet high financial reporting standards, be current in their reporting to their banking regulator and, if applicable, the SEC, and report material events as they occur. They must also appoint a Corporate Broker, a FINRA member broker-dealer specializing in trading and advising banks, to serve as their OTCQX advisor. D.A. Davidson & Co. will serve as BNC's Corporate Broker on OTCQX.
Timothy J. Franz, BNCCORP President and Chief Executive Officer, said, "The move to OTCQX is a reflection of the Company's operational and financial progress in recent years, as well as a demonstration of our commitment to building shareholder value. Trading on a trusted marketplace with robust financial reporting standards, a reputation for transparency, and Corporate Broker support will build the confidence of current stockholders and potential investors. We believe this will heighten the visibility of our Company and increase the liquidity of our shares, making BNCC more attractive to a wider shareholder base."
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 North Dakota, Arizona and Minnesota from 14 locations. BNC also conducts mortgage banking from 12 offices in Illinois, Kansas, Minnesota, Arizona and North Dakota.
U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the Company on www.otcmarkets.com.
This news release may contain "forward-looking statements" within the meaning of the safe harbor provisions 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", "future" and other expressions relating to future periods. Examples of forward-looking statements include, among others, statements we make regarding our belief that we have exceptional liquidity, our expectations regarding future market conditions and our ability to capture opportunities and pursue growth strategies, our expected operating results such as revenue growth and earnings, and our expectations of the effects of the regulatory environment on our earnings for the foreseeable future. Forward-looking statements are neither historical facts nor assurances of future performance. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, but are not limited to: the impact of current and future regulation; the 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 mortgage banking revenues and 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.
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