BNC Bancorp Announces Earnings for Third Quarter 2016

HIGH POINT, N.C., Oct. 20, 2016

• Continued solid earnings and returns
                                                            
  • GAAP net income of $18.1 million, or $0.38 per diluted share, compared to $14.6 million, or $0.35 per diluted share, for second quarter of 2016;
  • Operating net income of $19.7 million, or $0.42 per diluted share, compared to $17.0 million, or $0.41 per diluted share, for second quarter of 2016;
  • GAAP return on average assets of 1.10%, compared to 1.00% for second quarter of 2016;
  • Operating return on average assets of 1.20%, compared to 1.16% for second quarter of 2016;
  • Return on average tangible common equity of 13.37%, compared to 13.29% for second quarter of 2016; and
  • Operating return on average tangible common equity of 14.50%, compared to 15.36% for second quarter of 2016.
                                                   
• Originated loans at September 30, 2016 of $3.46 billion, an increase of $292.3 million compared to June 30, 2016
                                           
  • Loan originations of $630 million, as compared to $627 million during the second quarter of 2016; and
  • Total portfolio loans were $5.00 billion at September 30, 2016, an increase of $183.3 million compared to June 30, 2016.
                                                  
• Asset quality ratios remain strong
                                               
• Completed public offering of common stock with gross proceeds of $63.2 million
                                                   
  • Further strengthened capital ratios and will support continued growth