BNCCORP (BNCC) Q4 2024 earnings summary

Executive summary

• Net income for Q4 2024 was $2.3 million ($0.64 per diluted share), up 4.9% year-over-year from $2.2 million ($0.60 per share).

• A $4.00 per share special cash dividend was declared in Q4 2024, paid in Q1 2025.

• Community Banking segment net income rose to $2.5 million ($0.71 per share) from $2.4 million ($0.66 per share) in Q4 2023.

• Full-year 2024 net income was $7.9 million, up from $5.7 million in 2023.

Financial highlights

• Q4 2024 net interest income was $7.9 million, down 0.5% year-over-year; net interest margin was 3.57% vs. 3.60%.

• Q4 2024 return on average assets was 0.96% (vs. 0.91% in Q4 2023); return on equity was 7.86% (vs. 7.26%).

• Efficiency ratio improved to 66.68% from 70.03% year-over-year.

• Full-year 2024 net interest income was $31.1 million, down 3.9% from 2023; net interest margin was 3.54% (vs. 3.70%).

• Tangible book value per share was $26.60 at year-end 2024, down from $30.38 at year-end 2023.

Outlook and guidance

• Management remains focused on steady growth, disciplined lending, expense control, and risk management for 2025.

• Continued emphasis on core community banking and maintaining a strong balance sheet.