Replies to post #136 on BNCCORP, Inc. (BNCC)

[dffhogs]

Good to know. Moving back up now that the overhang is gone....

[Enterprising Investor]

Possess a different view.

BNCC is merely suffering from TARP Overhang Syndrome.

However, I have been picking up shares for several accounts. BNCC is now my largest holding since departing C after seven and one-half years with a retirement account fully-allocated with common stock.

[free_bee]

Feel like start calling you Mr 9 and half bagger for leaving BNCC early.

[vpagano]

Can I ask how you are running your valuation to say it is fully valued?

I posted this before:

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=89246332

Friday fun with numbers:

- $800 MM in assets
- median ROA% for North Dakota Q1 2013 = 1.03%

source: http://www.fdic.gov/bank/analytical/stateprofile/Kansascity/ND/ND.pdf

800MM * 1.03% = $10.4 MM

10X earnings multiple = $104 MM or ~ $31.50 per share potential

They just have to keep on performing.

I was pretty close on the assets number, and let's assume the ROA% sits around 1%. Now if we triangulate between a 10X earnings multiple at approximately $30 per share and and 1.5X BV multiple(a fair multiple for growth I believe) at the low $20's, we get a combined mid-$20's valuation or a half off sale currently.

Do you believe non-interest income will take a hit? Growth will stop in the Bakken? Competition from larger players? Just curious, TIA.

-Pagz

FD: ~10% holding