BNC Adds Internet

BNC Mortgage of Santa Ana said Tuesday it is acquiring some of the assets of America’s Lender Inc., an Irvine mortgage company that makes loans over the Internet.

Terms of the deal, which is scheduled to be completed in February, weren’t disclosed.

The acquisition gives BNC an Internet-based lending operation and better balances its loan business between conventional and so-called sub-prime mortgage loans.

Among other things, BNC is buying loans that America’s Lender has in the pipeline.

Privately held America’s Lender was formed in 1995 and is headed by President Keith Guy. For the 12 months ended June 30, its network of 300 independent brokers originated $843 million worth of loans.

Publicly held BNC saw profits in its fiscal first quarter ended Sept. 30 jump 30%, to $2.5 million, or 42 cents a share, on a 60% gain in revenue, to $15.4 million. Its shares rose 38 cents, to $5.25 in Nasdaq trading Tuesday.

BNC went public in March at $9.50 a share.