Market Intelligence

Santa Claus Specials At the end of October 2021, BNCCorp, the Bismarck, North Dakota-based parent company of $1.1 billion BNC National Bank, announced that it would pay a special dividend on Dec. 15 – a so-called “Santa Claus special” given that it’ll be paid near the end of the year. BNC’s news came two days after a similar pronouncement from Merchants Financial Group, a $2.5 billion bank based in Winona, Minnesota. Merchants told shareholders on Oct. 26 that it would pay a special dividend of $1 per share “because of market factors that have contributed to exceptional performance that far…

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John Maxfield


John Maxfield is a freelance writer for Bank Director magazine. He was previously the senior banking specialist at The Motley Fool. He regularly writes for Bank Director magazine and BankDirector.com. His work has been syndicated widely to national publications including USA Today, Time and Business Insider, and he’s been a regular guest on CNBC. John has a bachelor’s degree in economics from Lewis & Clark College and a juris doctorate from Southern Methodist University. He’s a licensed attorney in the State of Oregon.

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