M&A Deal Summary

First Federal Bancorp Acquires BNCCORP s Mortgage Division

On April 12, 2023, First Federal Bancorp acquired financial services company BNCCORP s Mortgage Division from BNC National Bank

Acquisition Highlights
  • This is First Federal Bancorp’s 2nd transaction in the Financial Services sector.
  • This is First Federal Bancorp’s 2nd transaction in the United States.
  • This is First Federal Bancorp’s 1st transaction in North Dakota.

M&A Deal Summary
Date 2023-04-12
Target BNCCORP s Mortgage Division
Sector Financial Services
Buyer(s) First Federal Bancorp
Sellers(s) BNC National Bank
Deal Type Divestiture

Target

BNCCORP s Mortgage Division

North Dakota, United States
BNCCORP's Mortgage Division arranges and facilitates residential mortgage loans to businesses and consumers in its local markets.

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Buyer(S) 1

Buyer

First Federal Bancorp

Lake City, Florida, United States
Category Company
Sector Financial Services
DESCRIPTION

First Federal Bancorp, Inc. is a provider of financial services.

DEAL STATS #
Overall 2 of 2
Sector (Financial Services) 2 of 2
Type (Divestiture) 1 of 1
State (North Dakota) 1 of 1
Country (United States) 2 of 2
Year (2023) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-04-02 Coastal Banking

Beaufort, South Carolina, United States

Coastal Banking Company Inc., headquartered in Beaufort, S.C., is the $464.7 million-asset bank holding company of CBC National Bank, headquartered in Fernandina Beach, Fla., which provides a full range of consumer and business banking services through full-service banking offices in Beaufort, Fernandina Beach, and Port Royal, S.C. The company's residential mortgage banking division, headquartered in Atlanta, includes traditional retail and wholesale lending, as well as a National Retail Group that has lending offices in Arizona, Florida, Georgia, Maryland, Michigan, Indiana, Illinois and Ohio.

Buy -

Seller(S) 1

SELLER

BNC National Bank

Bismarck, North Dakota, United States
Category Company
Founded 1987
Sector Financial Services
Employees140
Revenue 42M USD (2023)
DESCRIPTION

BNC National Bank 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 North Dakota and Arizona from 11 locations. BNC National Bank was founded in 1987 and is headquartered in Bismarck, North Dakota.

DEAL STATS #
Overall 1 of 1
Sector (Financial Services) 1 of 1
Type (Divestiture) 1 of 1
State (North Dakota) 1 of 1
Country (United States) 1 of 1
Year (2023) 1 of 1
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