OppFi's Strategic Move: Update on the BNCCORP Acquisition and Future Plans

On November 3, 2026, OppFi Inc. (NYSE: OPFI), a technology-driven digital finance platform, made significant announcements regarding its pending acquisition of BNCCORP, Inc. (OTCQX: BNCC) and its subsidiary, BNC National Bank. This comes after a series of proactive engagements with federal regulators, including the Office of the Comptroller of the Currency (OCC), the Federal Reserve, and the Federal Deposit Insurance Corporation (FDIC).

Withdrawal of Regulatory Applications

In a strategic move, OppFi has decided to withdraw its applications for the acquisition, citing several challenges faced during the regulatory approval process. CEO Todd Schwartz expressed that while the company believed it met the statutory criteria for approval, there were no clear, articulated standards enabling a productive dialogue with federal regulators to address concerns regarding its business model.

The applications were aimed at obtaining the necessary approvals to merge OppFi’s innovative online lending capabilities with BNC's traditional banking framework. However, the ongoing communication restrictions and the ambiguous evaluation criteria significantly hindered OppFi’s ability to advocate for its interests. Schwartz reiterated the importance of establishing practical market standards that would facilitate collaborations between fintech companies and community banks, particularly to serve the growing needs of underbanked Americans.

Future Engagement with Regulators

Looking forward, OppFi plans to re-engage with federal regulators to discuss the establishment of clearer standards that foster innovation while ensuring consumer protection. Schwartz emphasized that both OppFi and BNC are established entities with a history of profitability, and their combination would potentially create a robust banking institution capable of addressing the financial needs of millions who are currently underserved by traditional financial systems.

Schwartz’s statements reflect a deep commitment to not just pursue the acquisition but to reshape the landscape of community banking through technology and inclusivity. He highlighted the necessity for regulators to expedite the process of defining these standards, allowing similar partnerships to emerge in the future.

Reaffirming 2026 Financial Guidance

In addition to updates on the acquisition, OppFi reaffirmed its financial guidance for the full year 2026. The company expects to generate total revenue between $600 million and $610 million, alongside an adjusted net income ranging from $115 million to $120 million. The adjusted earnings per share (EPS) is anticipated to fall between $1.34 and $1.40, based on an estimated diluted share count of approximately 86 million shares.

Continued Commitment to Financial Health

As the industry continues to face challenges, OppFi remains committed to its mission of enhancing financial health for everyday Americans through transparent and responsible financial products. The company’s platform, known for its excellent customer service, has achieved a commendable 4.4 out of 5 stars on Trustpilot, underlining its dedication to customer satisfaction.

Furthermore, OppFi holds a 35% equity stake in Bitty Holdings, LLC, which provides revenue-based financing solutions to small businesses, reflecting its broader commitment to fostering financial inclusion across different sectors.

Conclusion

In summary, while the withdrawal of applications concerning the BNC acquisition poses immediate challenges, OppFi’s strategic focus on regulatory engagement and re-evaluating its trajectory demonstrates resilience. The financial technology sector continues to evolve, and as OppFi navigates these waters, its commitment to serving the oft-neglected population of underbanked Americans remains steadfast. Moving ahead, the company’s endeavors to redefine partnerships within the financial sector may well reshape the future of community banking.

For more information about OppFi and its innovative services, please visit oppfi.com.