BNCCORP Financial Reports Record
BNCCORP, Inc. manages the town banks, insurance services and asset management firms in Arizona, Minnesota, North Dakota, Utah and Colorado, today reported a profit of $ 653000, or $ 0.19 per share on a basis verwässerter, for the fourth quarter on December 31, 2005. For the same quarter of 2004, the company reported a profit of $ 762000, or $ 0.25 per share diluted.
For the twelve months to 31 December 2005, the company reported a profit of $ 4.1 million or $ 1.34 per share diluted compared to net income of $ 3.4 million, or $ 1.14 per more action for the same period of 2004. This corresponds to an increase in net income of 20.5% and higher on earnings per share of 17.5%.
“Our results show for the year 2005 show continued growth and strategic value of our homes around our customers with quality and innovative banking, insurance and asset management offers,” said Gregory K. Cleveland, BNCCORP President and Chief Executive Officer. “The results also show the capacity of our people of our successful strategies.” Mr. Cleveland also has the success of the offer of 575000 shares of the share increases by $ 6.6 million of new capital as the biggest success of the past year.
“We are particularly pleased that total deposits increased by $ 93.4 million or 20.5% per annum and that our Arizona, Minnesota and North Dakota banking markets of each contribution to this increase. For more we increased loans held for the sale of $ 41.4 million, or 68.8% and loans for investments in possession of $ 16.6 million or 5.6% during the year in respect for our creditworthiness. We also added a $ 166.2 million in assets under management of the expansion of wealth management of our economy and our insurance income rises again demonstrated the value of our investments in these businesses. ”
Fourth Quarter Review
The surplus in interest rates for the fourth quarter of 2005 was $ 4.6 million, an increase of 8.2% to $ 4.2 million for the same period of 2004. Most of this increase is represented by the increase in the form of loans for sale are kept. The excess interest declined 2.78% for the quarter to 31 December 2005, 2.90% for the same period in 2004.
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