BNC Bancorp (NASDAQ:BNCN), the holding company for Bank of North Carolina, today announced it has received regulatory approval from the Federal Reserve Board of the previously announced merger transaction between the Company and High Point Bank Corporation, the holding company for High Point Bank & Trust Company, and that all necessary regulatory approvals for the closing of the transactions have been met. The Company previously received regulatory approval with respect to the transaction from the Federal Deposit Insurance Corporation and the North Carolina Office of the Commissioner of Banks. The Company expects to close the transaction on November 1, 2016.
ABOUT BNC BANCORP
Headquartered in High Point, North Carolina, BNC Bancorp is the parent company of Bank of North Carolina, a commercial bank with total assets of approximately $6.8 billion. Bank of North Carolina provides a complete line of banking and financial services to individuals and businesses through its 71 current banking offices in North Carolina, South Carolina and Virginia. The Bank’s 26 locations in South Carolina and nine locations in Virginia operate as BNC Bank. Bank of North Carolina is insured by the FDIC and is an equal housing lender. BNC Bancorp’s stock is traded and quoted on The Nasdaq Capital Market under the symbol “BNCN.” The Company’s website iswww.bncbancorp.com.