Timothy J. Franz, president and CEO of BNCCORP, Bismarck, is stepping down from his position unexpectedly. He is being replaced on an interim basis by Daniel Collins, BNCCORP chief financial officer.
Franz joined the company in 2006 and was CFO before becoming CEO in 2013 following the death of BNC co-founder, president and CEO Gregory K. Cleveland. Prior to that, he was a CPA with KPMG.
“We thank Tim for his years of dedication to the company….We wish him the very best,” said Chair Michael Vekich. “We are fortunate to have Dan Collins on the senior management team. He is an experienced financial services executive who will provide a steady hand during the transition.”
While no specific reason was given for Franz’ departure, it did not stem from “any regulatory, compliance, financial reporting or similar matter,” Vekich said.
Collins spent time at MoneyGram International, RBC Dain Rauscher and U.S. Bank prior to joining BNCCORP in 2013. He has a Bachelor of Arts degree in economics from Connecticut College, New London, and a Master of Science degree in professional accounting from the University of Hartford, Ct.