BNC Bancorp (BNCN) Clears Final Regulatory Hurdle in Proposed High Point Bank Merger

October 17, 2016 3:36 PM EDT

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BNC Bancorp (Nasdaq: BNCN), the holding company for Bank of North Carolina, announced it has received regulatory approval from the Federal Reserve Board of the previously announced merger transaction between the Company and High Point Bank Corporation, the holding company for High Point Bank & Trust Company, and that all necessary regulatory approvals for the closing of the transactions have been met. The Company previously received regulatory approval with respect to the transaction from the Federal Deposit Insurance Corporation and the North Carolina Office of the Commissioner of Banks. The Company expects to close the transaction on November 1, 2016.

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