Opportunity knocks, OppFi (NYSE: OPFI) to acquire BNCCORP and BNC National Bank for $130 million

OppFi Inc. (NYSE: OPFI) announced it signed a definitive agreement to acquire BNCCORP Inc. (BNCC) and its subsidiary BNC National Bank in a cash and stock transaction valued at approximately $130 million.

Under the agreement terms, BNCC stockholders will receive $19.375 per share in cash and 1.90 shares of OppFi Class A common stock for each BNCC share owned. Following the transaction, OppFi stockholders will own approximately 93% and BNCC stockholders will own approximately 7% of the combined company.

BNC National Bank is a nationally chartered commercial bank headquartered in Glendale, Arizona, with approximately $1.1 billion in total assets and approximately $1.0 billion in total deposits as of December 31, 2025. For the year ending December 31, 2025, BNC generated $51 million of interest income and $10 million in net income.

The transaction has been unanimously approved by both companies’ boards of directors. It requires BNCC stockholder approval and regulatory approvals from the Office of the Comptroller of the Currency, Federal Reserve and Federal Deposit Insurance Corporation. The transaction is expected to close during the fourth quarter of 2026.