BNC Bancorp Announces Earnings for First Quarter 2017

HIGH POINT, N.C., April 17, 2017

• Net income of $14.4 million, or $0.28 per diluted share, compared to $15.7 million, or $0.31 per diluted share, for fourth quarter of 2016
  
  
• Return on average assets of 0.79%, compared to 0.87% for fourth quarter of 2016
• Return on average tangible common equity of 9.66%, compared to 10.59% for fourth quarter of 2016
  
  
• Operating net income of $22.8 million, or $0.44 per diluted share, compared to $21.8 million, or $0.43 per diluted share, for fourth quarter of 2016
  
  
• Operating return on average assets of 1.25%, compared to 1.21% for fourth quarter of 2016
• Operating return on average tangible common equity of 14.92%, compared to 14.50% for fourth quarter of 2016
  
  
• Originated loans at March 31, 2017 of $3.92 billion, an increase of $275.4 million compared to December 31, 2016
  
  
• Total portfolio loans of $5.62 billion at March 31, 2017, an increase of $165.2 million compared to December 31, 2016
• Loan originations of $627 million, as compared to $535 million during the fourth quarter of 2016
  
  
• Entered into Agreement and Plan of Merger with Pinnacle Financial Partners, Inc. ("Pinnacle")
  
  
• Merger has received all necessary regulatory approvals
• Shareholders will receive 0.5235 shares of Pinnacle's common stock for every share of the Company's common stock
• Transaction expected to close end of second quarter or beginning of third quarter 2017, subject to shareholders' approval and other customary closing conditions

Financial Performance