BNCCORP, INC. REPORTS FIRST QUARTER NET INCOME OF $2.2 MILLION, OR $0.61 PER DILUTED SHARE

May 15, 2026

BNCCORP, INC. reported financial results for the first quarter of 2026, highlighting a net income increase of $400 thousand, or 22.7%, to $2.2 million, equating to $0.61 per diluted share, compared to $1.8 million or $0.50 per diluted share from the prior year. The company's pre-provision, pre-tax operating income also grew by 32.8% to $3.2 million, up from $2.4 million in the same quarter of 2025.

Notable increases were seen in net interest income, which rose by $1.4 million, or 17.4%, reaching $9.2 million in the first quarter of 2026, compared to $7.9 million a year earlier. The net interest margin improved to 3.59%, an increase from 3.49% in the first quarter of 2025. The efficiency ratio showed improvement as well, decreasing to 69.94% from 73.95% during the first quarter of the previous year.

In terms of loans held for investment, there was a slight decrease of $4.1 million from the end of 2025, totaling $734.6 million as of March 31, 2026, though this reflects a year-over-year increase of $35.4 million, or 5.1%, from $699.3 million at the end of the first quarter of 2025. The allowance for credit losses as of the same date decreased to 1.18% of loans held for investment, down from 1.40% as of December 31, 2025.

Daniel J. Collins, President and CEO of BNCCORP, commented, "Our first-quarter results reflect the continued strength of our core banking franchise and the disciplined execution of our relationship-driven strategy." He noted that while loans and deposits decreased modestly during the quarter, the company remains focused on maintaining a robust balance sheet and strong liquidity as it progresses with a proposed acquisition by OppFi Inc. valued at approximately $130 million, announced on April 29, 2026.

Despite some shifts in loan and deposit balances, the company expressed confidence in the overall quality of its loan portfolio and its ability to navigate ongoing economic uncertainties. Trust assets under administration also saw a marginal increase, rising to $485.0 million at the end of the first quarter, reflecting a steady growth strategy even amidst external market pressures.

Disclaimer: This press release has been distributed on behalf of the issuing organization. PR Gun acts solely as a distribution platform and has not independently verified the accuracy, completeness, or validity of the statements contained herein.