BNC Corp Reports Third Quarter 2026 Net Income Growth to $3.0 Million
BNC Corp (BNCC) reported strong third-quarter financial results for 2026, highlighted by a 14.7% year-over-year increase in net income to $3.0 million, or $0.85 per diluted share. The company's performance was bolstered by a 10.7% rise in net interest income and an improved net interest margin of 3.83%, driven by higher loan yields and lower deposit costs. Despite ongoing merger-related expenses associated with the proposed combination with OppFi, adjusted net income reached $3.3 million ($0.94 per diluted share). The company also reported improvements in return on assets and equity, alongside steady growth in loans held for investment and deposits. Management expressed confidence in the bank's asset quality and capital position amid current economic uncertainties.
Topics: financial results loans net income net interest margin