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Bnc bank

The meaning of «bnc bank»

BNC Bank was a bank based in High Point, North Carolina, United States. In 2014 its parent company BNC Bancorp (Nasdaq: BNCN) had $4.05 billion in assets, 38 branches in North Carolina and 13 in South Carolina. Its latest acquisition gave BNC $6.8 billion in assets and 87 branches, 48 in North Carolina, 29 in South Carolina nine in Virginia, and one in Haiti.[1]

Pinnacle Financial Partners Inc. of Nashville, Tennessee took over BNC Bancorp as of June 16, 2017 with BNC branches changing to Pinnacle on September 25, 2017.[2]

The bank opened in Thomasville, North Carolina on December 3, 1991 (as Bank of North Carolina) in a temporary location in a trailer, moving to its permanent home in Fall 1992.[3]

On December 29, 2001, the Bank of North Carolina and Kernersville-based Independence Bank announced their merger. Bank of North Carolina had $211 million in assets and $171 million in deposits, and Independence Bank had assets of $59 million and deposits of $52 million.[4]

On August 1, 2003, BNC Bancorp began trading on NASDAQ. At the time it had added branches in Archdale, Lexington and Oak Ridge.[5]

After fifteen years of operation, BNC had expanded to 14 branches and $1 billion in assets, doubling its size in 30 months. It was the ninth community bank in the Piedmont Triad to reach that milestone. A 15,000-square foot administrative office was planned in High Point. Only one of the Harrisburg branches had opened.[6] The move to High Point happened in 2007.[1]

In May 2011, the U.S. Patent and Trademark Office approved a trademark for BNC Bank, after having used a BNC mark since 1995.[7]

On September 7, 2012, BNC announced plans to move from its 10,000-square-foot Eastchester Drive headquarters to 22,500 square feet in Premier Center. The company planned to keep a portion of its existing space and move some operations from Thomasville.[8]

During the first quarter of 2014 BNC opened branches in Raleigh, North Carolina and Greenville, South Carolina. This is in addition to buying 11 banks since 2010.[9]

As Bank of North Carolina, BNC used the name BNC Bank in South Carolina and Virginia, and the bank had planned to change to BNC Bank everywhere. However, BNCCORP of North Dakota, which operated as BNC National Bank, protested this change.[10] BNCCORP had filed for BNC Bank trademarks and sent BNC a warning letter in late 2014. BNC protested the trademark request, and BNCCORP sued BNC in September 2015 in federal court, at which time BNC countersued. The BNCCORP suit was dismissed in December 2015 with prejudice.[7] In June 2016, a federal judge denied a restraining order and injunction by BNCCORP.[10] On November 1, 2016, Bank of North Carolina rebranded to BNC Bank across their entire footprint.[11] This included a new logo with a flying cardinal[12] which represented "momentum, vision and growth".[13]

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