AcquisitionsJun 16, 2026, 07:21 AM
OppFi to Acquire BNCCORP, Targets $500M Adj. Net Income in 5 Years
AI Summary
OppFi Inc. announced its strategic plan to acquire BNCCORP, Inc., aiming to transition to a national bank charter, diversify its product suite, and expand geographically. This transformative combination is expected to reduce regulatory ambiguity, lower funding costs, and strengthen the balance sheet, with a long-term target of $500 million in Adjusted Net Income within five years. The company also highlighted strong financial performance for FY 2025, reporting $140 million in Adjusted Net Income and $597 million in Total Revenue, alongside robust Adjusted ROE and ROA.
Key Highlights
- OppFi announced its proposed acquisition of BNCCORP, Inc. to transition to a national bank charter and expand product offerings.
- The company targets $500 million in Adjusted Net Income within five years through strategic growth initiatives.
- OppFi reported FY 2025 Adjusted Net Income of $140 million, up from $83 million in FY 2024.
- Total Revenue for FY 2025 reached $597 million, an increase from $526 million in FY 2024.
- Adjusted EPS for FY 2025 was $1.59, compared to $0.95 in FY 2024.
- Free Cash Flow generated in FY 2025 was $93.5 million.
- Adjusted Return on Equity (ROE) was 51.5% and Adjusted Return on Assets (ROA) was 20.0% for FY 2025.
- The pro forma combined entity is anticipated to have $2,000 million in total assets, $1,400 million in loans, and $1,000 million in deposits at closing.
Price Impact
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