Bank of North Carolina: Bank of North Carolina-Pinnacle merger gets shareholder OK

The merger of High-Point based BNC Bancorp (NASDAQ: BNCN) and Pinnacle Financial Partners (NASDAQ: PNFP) of Nashville, Tenn., has been approved by the shareholders of both entities, the banks announced on Monday. Pinnacle is acquiring BNC - the parent company of the Bank of North Carolina - for $1.9 billion in stock. In an interview following the acquisition announcement in January, BNC President and CEO Richard D. Callicutt II characterized the deal as a "merger of opportunity." "As we...