OppFi Inc. announced it has withdrawn its applications to federal regulators for the proposed acquisition of BNCCORP, Inc. and its subsidiary, BNC National Bank. The company cited a lack of clear evaluation standards from regulators as the reason for the withdrawal. While this action halts the regulatory approval process, the original merger agreement remains in effect. Concurrently, OppFi reaffirmed its full-year 2026 financial guidance.
Key Details
- Regulatory Action: Applications to the Office of the Comptroller of the Currency (OCC), the Federal Reserve, and the FDIC have been withdrawn.
- Merger Status: The Merger Agreement, dated April 28, 2026, has not been terminated and remains in effect as of the filing date.
- Reaffirmed 2026 Guidance: The company reaffirmed its guidance, including total revenue of $600M - $610M and adjusted net income of $115M - $120M.