BISMARCK, N.D., Aug. 16, 2013 /PRNewswire/ -- BNCCORP, Inc. (BNC
or the Company) (OTC Markets: BNCC) announced today that the
Company's Board of Directors has named Timothy J. Franz to the position of
President and Chief Executive Officer on a permanent
basis. Mr. Franz had been serving in that role on an interim
basis since July 24, 2013, following
the untimely passing of BNC co-founder, President and CEO
Gregory K. Cleveland.
Tracy J. Scott, Chairman of the
BNCCORP Board of Directors, commented, "Tim
Franz is a highly experienced and able executive.
Furthermore, as an officer of BNCCORP and BNC Bank for the past
seven years, he is deeply immersed in the culture of integrity,
community engagement, customer service and financial stewardship
that are the hallmarks of our business approach. We are
fortunate to be able to draw upon Tim's leadership going
forward."
Mr. Franz stated, "I consider it an honor to be associated with
a group of talented, capable people who consistently demonstrate
exceptional professionalism and dedication, and who have helped BNC
to thrive. Following in Greg
Cleveland's footsteps will be a humbling experience, and I
want to thank the Board and the entire BNC team in advance for
their guidance and assistance along this
path."
Prior to being named President and CEO, Mr. Franz, age 55,
served as Chief Financial Officer of BNCCORP, INC. and BNC National
Bank since 2006. A Certified Public Accountant
(Inactive), he began his professional career at KPMG LLP in
1983 and was a partner at KPMG from 1997 to 2003. During his tenure
at KPMG, Mr. Franz focused on the financial services industry and
served Wells Fargo, TCF Bank and several community banks. Mr.
Franz has served on BNC National Bank's Board of Directors since
2006 and on BNCCORP, INC.'s Board of Directors since 2013. He
also has been active in several of BNC's operating committees since
joining the Company.
About BNCCORP, Inc.
BNCCORP, INC., headquartered in
Bismarck, N.D., is a registered
bank holding company dedicated to providing banking and wealth
management services to businesses and consumers in its local
markets. The Company operates community banking and wealth
management businesses in Arizona,
Minnesota and North Dakota from 14 locations. BNC also
conducts mortgage banking from 11 offices in Illinois, Kansas, Nebraska, Minnesota, Arizona and North Dakota.
This news release may contain "forward-looking statements"
within the meaning of the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995 with respect to the
financial condition, results of operations, plans, objectives,
future performance and business of BNC. Forward-looking statements,
which may be based upon beliefs, expectations and assumptions of
our management and on information currently available to management
are generally identifiable by the use of words such as "expect",
"believe", "anticipate", "plan", "intend", "estimate", "may",
"will", "would", "could", "should", "future" and other expressions
relating to future periods. Examples of forward-looking statements
include, among others, statements we make regarding our belief that
we have exceptional liquidity, our expectations regarding future
market conditions and our ability to capture opportunities and
pursue growth strategies, our expected operating results such as
revenue growth and earnings, and our expectations of the effects of
the regulatory environment on our earnings for the foreseeable
future. Forward-looking statements are neither historical
facts nor assurances of future performance. Our actual
results and financial condition may differ materially from those
indicated in the forward-looking statements. Therefore, you
should not rely on any of these forward-looking statements.
Important factors that could cause our actual results and financial
condition to differ materially from those indicated in the
forward-looking statements include, but are not limited to: the
impact of current and future regulation; the risks of loans and
investments, including dependence on local and regional economic
conditions; competition for our customers from other providers of
financial services; possible adverse effects of changes in interest
rates, including the effects of such changes on mortgage banking
revenues and derivative contracts and associated accounting
consequences; risks associated with our acquisition and growth
strategies; and other risks which are difficult to predict and many
of which are beyond our control. In addition, all statements in
this news release, including forward-looking statements, speak only
of the date they are made, and the Company undertakes no obligation
to update any statement in light of new information or future
events.
SOURCE BNCCORP, Inc.
