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v3.26.1

Acquisition | 6 Months Ended
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Jun. 30, 2026
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract] |
Acquisition | Acquisition Pending Acquisition On April 28, 2026, OppFi entered into an Agreement and Plan of Merger (the “Merger Agreement”) with BNCCORP, Inc., a Delaware corporation (“BNCC”), and Birch Merger Sub, LLC, a Delaware limited liability company and wholly owned subsidiary of OppFi (“Merger Sub”). Pursuant to the Merger Agreement, BNCC will merge with and into Merger Sub, with Merger Sub surviving as a wholly owned subsidiary of the Company (the “Merger”). Immediately following the Merger, an interim bank and wholly owned subsidiary of the Company to be formed following the date thereof will merge with and into BNC National Bank, a wholly owned subsidiary of BNCC (“BNC”), with BNC (which is expected to be renamed OppFi Bank, N.A.) surviving as a wholly owned subsidiary of the Company (the “Bank Merger” and together with the Merger, the “Transaction”). The Merger Agreement was unanimously approved by the boards of directors of each of the Company and BNCC. Under the terms of the Merger Agreement, if the Merger is completed, for each share of BNCC Common Stock owned, BNCC stockholders will be entitled to receive (i) $19.375, without interest, in cash and (ii) a number of shares of OppFi’s Class A Common Stock, equal to the Exchange Ratio of 1.90 shares of OppFi’s Class A Common Stock for each share of BNCC Common Stock. As of April 28, 2026, the date of the Merger Agreement, the preliminary estimated Merger Consideration transferred was valued at approximately $130.7 million. This preliminary estimate was based on the closing stock price of OppFi’s Class A Common Stock as of April 28, 2026, which was $9.01. Given the range of prices of shares of OppFi’s Class A Common Stock since the announcement of the Transaction, the value of the Merger Consideration expected to be transferred at the closing of the Transaction may differ materially from the preliminary estimate of the value of the Merger Consideration to be transferred. During the three and six months ended June 30, 2026, pre-tax acquisition-related expenses incurred were $2.8 million and $3.1 million, respectively, which is included in professional fees in the consolidated statement of operations.

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