Fintech OppFi to buy Arizona bank for $130M

Fintech OppFi to buy Arizona bank for $130M

The Chicago-based subprime lender said pairing its online platform with BNC’s national bank charter lets it offer more banking services on a broader scale.

OppFi, a nonbank consumer lender, reaches deal to buy a bank

The Chicago-based fintech, which offers high-cost loans, has agreed to acquire the parent company of BNC National Bank. The deal would grant OppFi a national bank charter, which offers a way around state interest rate caps.

Glendale Bank Parent Agrees to $130M Sale

BNCCORP, INC. and its wholly owned subsidiary, BNC National Bank announced it has signed a definitive agreement to be acquired by OppFi Inc., a tech-enabled digital finance platform, in a cash and stock transaction valued at approximately $130 million. The transaction brings together two complementary, market-leading businesses, combining OppFi’s sophisticated online lending platform with BNC’s…

OppFi Moves Deeper Into Banking With $130 Million BNC Purchase

Online lending platform OppFi is set to acquire BNC Bank for $130 million. The deal, announced Wednesday (April 29), is designed to capitalize on both OppFI’s digital finance capabilities with BNC’s national banking charter. “Combining our operations under unified regulatory supervision by the OCC and Federal Reserve simplifies and strengthens our compliance and risk management,” Todd Schwartz, OppFi’s CEO and executive chairman, said …