First Trust Bank (Charlotte, NC) (NCFT)

[56Chevy]

NCFT a triple since Oct. 2011 low.

Oct. 7, 2011 pps was $2.00

June 5, 2012 pps was $5.90

July 13, 2012 pps is $6.72

*The terms (set on June 5th 2012) called for shareholders of First Trust to receive $7.25 a share...or a 23% premium.

[56Chevy]

BNC Bancorp raises capital, buys community bank

Tue Jun 5, 2012 3:58am IST

(Reuters) - BNC Bancorp (BNCN.O), a North Carolina-based bank holding company, said it is raising $72.5 million from private equity firm Aquiline Capital Partners LLC and 19 other investors and is also buying a small commercial bank in the Charlotte area.

BNC, parent of Bank of North Carolina, which has $2.5 billion in assets, announced the deals on Monday after the end of trading. BNC stock closed at $7.40, down 41 cents, or 5.2 percent.

The investors are buying preferred stock mandatorily convertible into common stock upon shareholder approval at $7 a share, according to the company.

Aquiline, which is based in New York, is leading the investment group, which includes directors of BNC. The financing is expected to close on or about Friday.

Aquiline is making a specialty of investing in consolidation of the battered banking industry. Its investment professionals include former Wachovia bank Chief Executive Ken Thompson, a North Carolina native who also is a director of BNC.

"This capital raise represents a significant step in our strategic plan, and will provide the capital we need to continue our expansion in the key growth markets of North and South Carolina," Rick Callicutt, president of Bank of North Carolina, said in a statement.

The company also said it is paying about $35 million in stock and in cash to buy First Trust Bank (NCFT.OB), which has $436 million of assets and primarily serves small businesses and professionals in the Charlotte area.

The terms call for shareholders of First Trust to receive $7.25 a share. Two trades of 100 shares each were reported on Monday. The shares last traded at $5.90.

Bank of North Carolina said it will pick up three new branches, $228 million in loans and $374 million in deposits with the purchase.


http://in.reuters.com/article/2012/06/04/us-bncbancorp-deal-capital-idINBRE85312V20120604

[Penny Roger$]

First Trust Bank Reports Third Quarter Net Income
| 9:00 AM | By PR Newswire Association LLC. |




10-31-2011 OTC and PINK News.

CHARLOTTE, N.C., Oct. 31, 2011 /PRNewswire/ -- First Trust Bank (OTC:NCFT) reported results for the third quarter of 2011 today. The bank reported net income of $1.4 million or $0.30 per diluted share for the quarter ended September 30, 2011 compared to a net loss of $556 thousand...
Related News: Similar Content, By PR Newswire Association LLC., Earnings

http://www.prnewswire.com/news-releases/first-trust-bank-reports-third-quarter-net-income-132915968.html#rssowlmlink




10-31-2011 OTC and PINK News.

[SFGiants]

First Trust Bank Reports Third Quarter Earnings

CHARLOTTE, N.C., Oct. 22 /PRNewswire-FirstCall/ -- First Trust Bank (OTC Bulletin Board: NCFT) reported results for the third quarter of 2009 today. The Bank reported net income of $935 thousand, or $0.20 per diluted share, for the quarter ended September 30, 2009 compared to net income of $1.15 million, or $0.25 per diluted share, for the third quarter of 2008. Return on equity was 7.85% for the quarter compared to 11.72% last year. Return on assets was 0.74% compared to 1.06% for the same period last year.

Assets at September 30, 2009 were $467 million, an increase of $28 million, or 6% over the $439 million reported at September 30, 2008. Loans increased to $333 million at quarter end, an increase of 3%, over September 30, 2008.

Earnings for the third quarter of 2009 were adversely affected by a $1.1 million addition to the allowance for loan losses and FDIC assessment expense of $294 thousand. The provision for loan losses increased by $919 thousand over 2008 and is primarily the result of downgrading individual credits as appropriate to reflect risk exposure in the current weak economy. The expense for FDIC assessments reflects an increase of 488% over the same period last year.

At September 30, 2009, the loan loss reserve was 1.86% of total loans outstanding, up from 1.37% at 2008 year-end. Non-performing assets were $6.6 million or 1.60% of total assets and consisted of $5.8 million in non-accrual loans and $800 thousand in OREO. Management believes it has thoroughly evaluated its non-accrual loans and they are either well collateralized or adequately reserved.

"Despite this very difficult environment, earnings remain relatively stable," said Jim Bolt, President and CEO.

First Trust Bank is a commercial bank whose target market is small to medium sized businesses and professionals. The Bank operates three banking offices at 1420 East Third Street and 2245 Rexford Road, Charlotte, NC and 108 Gateway Boulevard, Mooresville, NC; and a loan production office at 2616 W. Roosevelt Boulevard in Monroe, NC.

Information in this press release may contain forward looking statements that might involve risks and uncertainties that could cause actual results to differ materially. These risks and uncertainties include without limitation, the effects of future economic conditions, governmental fiscal and monetary policies, legislative and regulatory changes, and changes in interest rates.

SELECTED FINANCIAL DATA FIRST TRUST BANK (dollars in thousands, except per share)

September 30, December 31, 2009 2008 SELECTED BALANCE SHEET DATA (Unaudited) (Audited) Total loans $332,750 $334,737 Allowance for loan losses (6,192) (4,602) Investment securities 105,107 89,745 Other real estate owned 800 - Total assets 466,833 468,114

Deposits 380,336 372,757 Borrowed funds 35,998 47,888 Shareholders' equity 46,029 42,034

September 30, September 30, % 2009 2008 Change For the quarter ended (Unaudited) (Unaudited) Net interest income $4,166 $3,568 16.76% Provision for loan losses 1,055 136 675.74% Other income 172 159 8.18% Other expenses 1,902 1,902 0.00% Income tax expense 446 543 -17.86% Net income $935 $1,146 -18.41% Per Share Data Net income per share-basic $0.20 $0.26 Net income per share-diluted $0.20 $0.25

September 30, September 30, % 2009 2008 Change For the six months ended (Unaudited) (Unaudited) Net interest income $11,142 $10,373 7.41% Provision for loan losses 2,283 178 1182.58% Other income 624 475 31.37% Other expenses 5,740 5,659 1.43% Income tax expense 1,305 1,811 -27.94% Net income $2,438 $3,200 -23.81% Per Share Data Net income per share-basic $0.52 $0.72 Net income per share-diluted $0.52 $0.69

Shares Outstanding at period end 4,775,898 4,465,326

Allowance to loan losses to total loans 1.86% 1.37% Nonperforming loans to total loans 2.01% 0.21% Nonperforming assets to total assets 1.60% 0.16%

http://www.firsttrustnc.com/

DATASOURCE: First Trust Bank

CONTACT: Jean Galloway or Jim Bolt, [phone], fax:

[phone], or by e-mail at http://www.firsttrustnc.com/

Web Site: http://www.firsttrustnc.com/