PL Capital Intends to Nominate Candidate to the Board of Bnccorp
March 15, 2019 at 12:26 pm EDT
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On March 15, 2019, PL Capital Group announced that it intends to nominate Martin Alwin for election as a director of BNCCORP, INC. in opposition to a director nominee who will be nominated by the Company at its 2019 annual meeting of stockholders. PL Capital stated that in addition to filing proxy materials asking for stockholders to vote for Martin Alwin, it also plans to present several important stockholder proposals on its proxy card. PL Capital expressed its view that stockholders who are disappointed by the Company's lackluster financial performance and frustrated with its anti-stockholder corporate governance policies, including a staggered board of directors and poison pill plan, will support its nominee and proposals. Further, PL Capital stated that it also plans to ask stockholders to support a proposal requesting that the Company hire an investment banking firm to assist the board and management in evaluating all strategic alternatives available to the Company.
BNCCORP, INC. is a bank holding company of BNC National Bank (the Bank). The Bank is engaged in 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. The Company operates through two segments: Community Banking and Holding Company. The Community Banking segment provides products and services, such as personal loans, commercial real estate loans, SBA loans, business and personal checking, cash management, as well as trust and wealth management services, and retirement plan administration. These products and services are supported through Web and mobile-based applications. It earns interest primarily on loans and debt securities, bank card fees, loan fees, services charges on deposits, and fees on wealth management services. The Holding Company segment consists of management fees charged to the community banking services.
BNCCORP, INC. 
