BISMARCK, N.D., Aug. 16, 2013 /PRNewswire/ -- BNCCORP, Inc. (BNC or the Company) (OTC Markets: BNCC) announced today that the Company's Board of Directors has named Timothy J. Franz to the position of President and Chief Executive Officer on a permanent basis. Mr. Franz had been serving in that role on an interim basis since July 24, 2013, following the untimely passing of BNC co-founder, President and CEO Gregory K. Cleveland.
Tracy J. Scott, Chairman of the BNCCORP Board of Directors, commented, "Tim Franz is a highly experienced and able executive. Furthermore, as an officer of BNCCORP and BNC Bank for the past seven years, he is deeply immersed in the culture of integrity, community engagement, customer service and financial stewardship that are the hallmarks of our business approach. We are fortunate to be able to draw upon Tim's leadership going forward."
Mr. Franz stated, "I consider it an honor to be associated with a group of talented, capable people who consistently demonstrate exceptional professionalism and dedication, and who have helped BNC to thrive. Following in Greg Cleveland's footsteps will be a humbling experience, and I want to thank the Board and the entire BNC team in advance for their guidance and assistance along this path."
Prior to being named President and CEO, Mr. Franz, age 55, served as Chief Financial Officer of BNCCORP, INC. and BNC National Bank since 2006. A Certified Public Accountant (Inactive), he began his professional career at KPMG LLP in 1983 and was a partner at KPMG from 1997 to 2003. During his tenure at KPMG, Mr. Franz focused on the financial services industry and served Wells Fargo, TCF Bank and several community banks. Mr. Franz has served on BNC National Bank's Board of Directors since 2006 and on BNCCORP, INC.'s Board of Directors since 2013. He also has been active in several of BNC's operating committees since joining the Company.
About BNCCORP, Inc.
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 11 offices in Illinois, Kansas, Nebraska, Minnesota, Arizona and North Dakota.
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.