BNC Bancorp announces FDIC approval for High Point Bank merger
BNC Bancorp announced it has received regulatory approval from the FDIC of the previously announced merger transaction between the Bank of North Carolina and High Point Bank and Trust Company, the wholly-owned bank subsidiary of High Point Bank Corporation. The company expects to receive regulatory approval from the Federal Reserve Bank of its merger transaction with HPTB during the fourth quarter of 2016. Once received, all necessary regulatory approvals for the closing of the transaction will be met. The Company previously received regulatory approval with respect to the transaction from the North Carolina Office of the Commissioner of Banks. The Company expects to announce the closing date for the transaction after regulatory approval is received from the Federal Reserve Bank.