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Friday, January 24, 2014 11:52:23 AM
If there are any banks in American where still having TARP preferred stock outstanding makes good sense - even at a 9 percent dividend rate - BNCC is one.
Why?
BNCC continues to grow at a very healthy pace. Total assets grew by $72.3 million or 9.4 percent, while deposits jumped 73.6 million. Most of this growth relates primarily to North Dakota branches serving the Bakken Formation, where deposits have grown 60 percent from 2010 to 2013.
The faster a business grows, the more capital it will take to keep up. BNCC would most likely have to replace TARP preferred stock by issuing more common stock.
"Someone said it takes 30 years to be an instant success" - Gabriel Barbier-Mueller, CEO of Harwood International
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