Welcome!

News Feed Item

BNCCORP, INC. Reports Growth Surge In Loans And Deposits And First Quarter Net Income Of $1.8 Million, Or $0.41 Per Diluted Share

2014 First Quarter

BISMARCK, N.D., April 24, 2014 /PRNewswire/ -- BNCCORP, INC. (BNC or the Company) (OTCQB Markets: BNCC), which operates community banking and wealth management businesses in North Dakota, Arizona and Minnesota, and has mortgage banking offices in Illinois, Kansas, Nebraska, Minnesota, Arizona and North Dakota, today reported financial results for the first quarter ended March 31, 2014. 

Net income for the 2014 first quarter was $1.792 million, or $0.41 per diluted share. This compared to net income of $3.785 million, or $1.00 per diluted share, in the first quarter of 2013. Results for the first quarter of 2014 reflect lower non-interest income, which is impacted by lower mortgage banking revenues due to rising interest rates.  This was partially offset by significantly higher net interest income and lower non-interest expenses when compared to the prior year first quarter. A reversal of provisions for credit losses increased pre-tax earnings by $200 thousand in the first quarter of 2014, compared to a provision of $700 thousand in the first quarter of 2013. Deposits surged in the first quarter, increasing by $79.6 million, or 11.0%, in the first quarter. While this surge fueled $85 million of asset growth, we anticipate clients will redeploy approximately $40 million of these funds in the second quarter of 2014.   Nonperforming assets decreased to $6.1 million, or 0.66% of total assets, at March 31, 2014, compared to $6.7 million, or 0.79% of total assets, at December 31, 2013, and $13.6 million, or 1.70% of total assets, at March 31, 2013.

Timothy J. Franz, BNCCORP President and Chief Executive Officer, said, "Growing our core bank is a key strategy and we successfully continued our momentum this quarter. Growth in total assets and deposits, combined with the improving net interest margin, demonstrates that we are executing. We were solidly profitable, despite the expected decrease in mortgage banking revenues due to the trend in interest rates.  Our people are focused, the pipeline of business is strong and the North Dakota market remains robust. We look forward to capitalizing on these conditions as 2014 continues."

Mr. Franz continued, "We are pleased to report the U.S. Treasury auctioned its investment in our preferred stock issued pursuant to the TARP program in the first quarter of 2014, thus ending our participation in this program. American taxpayers profited from their investment in BNC as private investors paid a full price for our shares. The new owners of our preferred stock are sophisticated investors familiar with community banking. Their willingness to pay a full price can be viewed as a vote of confidence in our financial condition and prospects."

First Quarter Results

Net interest income for the first quarter of 2014 was $6.205 million, an increase of $1.572 million, or 33.9%, from $4.633 million in the same period of 2013. The net interest margin in the first quarter of 2014 increased to 3.20% compared to 2.61% in the same period of 2013. Interest income rose as the average balance of interest earning assets increased to $787.3 million from $720.4 million, or $66.9 million when compared to the first quarter of 2013.  The average loans held for investment increased $37.0 million, or 13.0%, compared to the prior year first quarter. On average, loans held for sale decreased by $54.5 million when compared to the first quarter of 2013 due to lower mortgage banking activity. This lower balance was more than offset by the increase of $125.6 million in average investment securities. The yield on earning assets increased to 3.66% in the first quarter of 2014, compared to 3.18% in the first quarter of 2013.  

Interest expense decreased despite exceptional growth in deposits, as we have been able to lower the rates paid on deposits. The cost of interest bearing liabilities declined to 0.57% in the current quarter, compared to 0.70% in the same period of 2013.

A reversal of provisions for loan losses increased pre-tax earnings by $200 thousand in the first quarter of 2014 compared to a provision for loan losses of $700 thousand in the first quarter of 2013. The reduction of the allowance for credit losses reflects stabilized risk in our loan portfolio, strong allowance coverage of nonperforming and classified loans, and net recoveries in the first quarter of 2014.

Non-interest income for the first quarter of 2014 was $4.284 million, a decrease of $7.040 million, or 62.2%, from $11.324 million in the first quarter of 2013. The decrease primarily relates to a decline in mortgage banking revenues, which aggregated $2.282 million, compared to $8.247 million in the first quarter of 2013. Mortgage banking revenues continue to be significantly impacted in 2014 by the increase in interest rates that began in 2013.  The 2014 first quarter included gains on sales of SBA loans of $240 thousand, compared to $755 thousand in the same period of 2013. This decrease is primarily due to temporary delays and we anticipate a rebound of gains on sales of loans in the second quarter of 2014.  Bank fees and service charges were $704 thousand in the first quarter of 2014, an increase of 14.1% compared to the first quarter of 2013.  These fees continue to rise with the growth in our deposits and our success in gaining new accounts. Wealth management revenues increased by $62 thousand, or 19.0%, in the first quarter of 2014 compared to the same period in 2013 as our North Dakota customers are increasingly utilizing our wealth management services.

Non-interest expense for the first quarter of 2014 was $8.090 million, a decrease of $1.307 million, or 13.9%, from $9.397 million in the first quarter of 2013. This decrease primarily relates to lower mortgage banking volume.

In the first quarter of 2014, we recorded an income tax expense of $807 thousand. The effective tax rate was 31.05%. We recorded income tax expense of $2.075 million in the first quarter of 2013, which resulted in an effective tax rate of 35.41%. The 2014 rate reduction relates primarily to the impact of tax exempt investments made throughout 2013.

Net income available to common shareholders was $1.420 million, or $0.41 per diluted share, for the first quarter of 2014 after accounting for dividends accrued on preferred stock and the amortization of issuance discounts on preferred stock. These costs aggregated $372 thousand in the first quarter of 2014 and $324 thousand in the same period of 2013. The costs associated with $20.1 million of preferred stock increased in the first quarter of 2014 as the annual dividend rate increased to 9% from 5% in mid quarter. Net income available to common shareholders in the first quarter of 2013 was $3.461 million, or $1.00 per diluted share.

Assets, Liabilities and Equity

Total assets were $928.0 million at March 31, 2014, an increase of $84.9 million, or 10.1%, compared to $843.1 million at December 31, 2013. The increases in recent periods have been funded primarily by growing deposits in North Dakota as this region is experiencing robust economic conditions. As previously noted, we anticipate that approximately $40 million of client assets will be redeployed in the second quarter of 2014 and our balance sheet will downsize as these funds are deployed.

Loans held for investment, which aggregated $324.2 million at March 31, 2014, increased by $41.2 million, or 14.6%, since March 31, 2013. Loans held for sale have decreased by $5.5 million since December 31, 2013 as mortgage banking production has been reduced by the recent increase in interest rates.

Total deposits were $802.9 million at March 31, 2014, increasing by $79.6 million from 2013 year-end.  Over recent years we have continued to witness growth in our North Dakota branches, particularly branches located near the Bakken Formation.

Trust assets under management or administration increased to $252.1 million at March 31, 2014, compared to $249.7 million at December 31, 2013 and $221.9 million at March 31, 2013. Our wealth management department is capturing wealth being created by the exceptionally strong economic conditions in North Dakota both in personal trust and pension plan services and bolstered by strong equity markets.

Capital 

Banks and their bank holding companies operate under separate regulatory capital requirements.

At March 31, 2014, BNCCORP's tier 1 leverage ratio was 11.28%, the tier 1 risk-based capital ratio was 22.48%, and the total risk-based capital ratio was 23.76%.

At March 31, 2014, BNCCORP's tangible common equity as a percent of assets was 5.61% compared to 5.79% at December 31, 2013. Common shareholder equity at March 31, 2014 was $52.1 million, and we had preferred stock and subordinated debentures outstanding which aggregated $43.5 million at March 31, 2014.

Book value per common share of the Company was $15.45 as of March 31, 2014, compared to $14.45 at December 31, 2013. Book value per common share, excluding accumulated other comprehensive income (loss), was $15.31 as of March 31, 2014, compared to $14.89 at December 31, 2013.

At March 31, 2014, BNC National Bank had a tier 1 leverage ratio of 10.21%, a tier 1 risk-based capital ratio of 20.65%, and a total risk-based capital ratio of 21.92%.

At March 31, 2014, tangible common equity of BNC National Bank was 9.36% of total Bank assets.

In July of 2013, the Federal Reserve issued new regulatory capital standards for community banks which incorporate some of the capital requirements addressed in the Basel III framework and begin to be effective January 1, 2015. We have estimated our regulatory capital ratios under the new Basel III framework and expect to be in compliance with these standards.

Asset Quality

Nonperforming assets were $6.1 million at March 31, 2014, down from $6.7 million at December 31, 2013 and $13.6 million at March 31, 2013. The ratio of total nonperforming assets to total assets was 0.66% at March 31, 2014 and 0.79% at December 31, 2013.  There was no provision for other real estate costs in the first quarter of 2014 or 2013.

Nonperforming loans were $5.0 million at March 31, 2014, down from $5.6 million at December 31, 2013, and $10.3 million at March 31, 2013. The ratio of the allowance for credit losses to total nonperforming loans as of March 31, 2014 was 196%, compared to 175% at December 31, 2013, and 96% at March 31, 2013.

The allowance for credit losses was $9.9 million at March 31, 2014, compared to $9.8 million at December 31, 2013. The allowance for credit losses as a percentage of total loans at March 31, 2014 was 2.80%, compared to 2.81% at December 31, 2013. The allowance for credit losses as a percentage of loans and leases held for investment at March 31, 2014 was 3.04%, compared to 3.10% at December 31, 2013.

At March 31, 2014, BNCCORP had $12.2 million of classified loans, $5.0 million of loans on non-accrual and $1.1 million of other real estate owned. At December 31, 2013, the Company had $13.5 million of classified loans, $4.7 million of loans on non-accrual and $1.1 million of other real estate owned.  At March 31, 2013, the Company had $13.8 million of classified loans, $10.2 million of loans on non-accrual and $3.3 million of other real estate owned.

BNCCORP, INC., headquartered in Bismarck, N.D., is a registered bank holding company dedicated to providing banking and wealth management services to businesses and consumers in its local markets. The Company operates community banking and wealth management businesses in North Dakota, Arizona and Minnesota from 14 locations. BNC also conducts mortgage banking from 15 offices in Illinois, Kansas, Nebraska, Minnesota, Arizona and North Dakota. 

This news release may contain "forward-looking statements" within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 with respect to the financial condition, results of operations, plans, objectives, future performance and business of BNC. Forward-looking statements, which may be based upon beliefs, expectations and assumptions of our management and on information currently available to management are generally identifiable by the use of words such as "expect", "believe", "anticipate", "plan", "intend", "estimate", "may", "will", "would", "could", "should", "future" and other expressions relating to future periods. Examples of forward-looking statements include, among others, statements we make regarding our belief that we have exceptional liquidity, our expectations regarding future market conditions and our ability to capture opportunities and pursue growth strategies, our expected operating results such as revenue growth and earnings, and our expectations of the effects of the regulatory environment on our earnings for the foreseeable future.  Forward-looking statements are neither historical facts nor assurances of future performance.  Our actual results and financial condition may differ materially from those indicated in the forward-looking statements.  Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, but are not limited to: the impact of current and future regulation; the risks of loans and investments, including dependence on local and regional economic conditions; competition for our customers from other providers of financial services; possible adverse effects of changes in interest rates, including the effects of such changes on mortgage banking revenues and derivative contracts and associated accounting consequences; risks associated with our acquisition and growth strategies; and other risks which are difficult to predict and many of which are beyond our control. In addition, all statements in this news release, including forward-looking statements, speak only of the date they are made, and the Company undertakes no obligation to update any statement in light of new information or future events.

(Financial tables attached)

           

BNCCORP, INC.

CONSOLIDATED FINANCIAL DATA

(Unaudited)






For the Quarter

Ended March 31,

(In thousands, except per share data)


2014


2013








SELECTED INCOME STATEMENT DATA







Interest income


$

7,104


$

5,649

Interest expense



899



1,016

Net interest income



6,205



4,633

Provision (reduction) for credit losses



(200)



700

Non-interest income



4,284



11,324

Non-interest expense



8,090



9,397

Income before income taxes



2,599



5,860

Income tax expense



807



2,075

Net income



1,792



3,785

Preferred stock costs



372



324

Net income available to common shareholders


$

1,420


$

3,461















EARNINGS PER SHARE DATA














Basic earnings per common share


$

0.42


$

1.05

Diluted earnings per common share


$

0.41


$

1.00

 


BNCCORP, INC.

CONSOLIDATED FINANCIAL DATA

(Unaudited)






For the Quarter

Ended March 31,

(In thousands, except share data)


2014


2013

ANALYSIS OF NON-INTEREST INCOME







Bank charges and service fees


$

704


$

617

Wealth management revenues



389



327

Mortgage banking revenues



2,282



8,247

Gains on sales of loans, net



240



755

Gains on sales of securities, net



523



1,210

Other



146



168

Total non-interest income


$

4,284


$

11,324

ANALYSIS OF NON-INTEREST EXPENSE







Salaries and employee benefits


$

4,239


$

5,035

Professional services



675



969

Data processing fees



718



720

Marketing and promotion



654



509

Occupancy



482



518

Regulatory costs



151



324

Depreciation and amortization



305



305

Office supplies and postage



157



155

Other real estate costs



12



77

Other



697



785

Total non-interest expense


$

8,090


$

9,397

WEIGHTED AVERAGE SHARES







Common shares outstanding (a)



3,349,588



3,297,352

Incremental shares from assumed conversion of options and contingent shares



127,871



169,532

Adjusted weighted average shares (b)



3,477,459



3,466,884


(a) Denominator for basic earnings per common share

(b) Denominator for diluted earnings per common share

 


BNCCORP, INC.

CONSOLIDATED FINANCIAL DATA

(Unaudited)






As of

(In thousands, except share, per share and full time equivalent data)


March 31,

 2014


December,

 2013


March 31,
2013











SELECTED BALANCE SHEET DATA










Total assets


$

928,024


$

843,123


$

799,400

Loans held for sale-mortgage banking



27,414



32,870



66,037

Loans and leases held for investment



324,183



317,928



282,949

Total loans



351,597



350,798



348,986

Allowance for credit losses



(9,858)



(9,847)



(9,873)

Investment securities available for sale



437,893



435,719



319,488

Other real estate, net



1,056



1,056



3,336

Earning assets



870,384



787,519



739,854

Total deposits (a)

 



802,862



723,229



681,712

Core deposits (a)



738,587



658,704



616,712

Other borrowings



45,611



42,399



38,529

Cash and cash equivalents (a)



101,591



18,871



89,534











OTHER SELECTED DATA










Net unrealized gains (losses) in accumulated other comprehensive income


$

454


$

(1,468)


$

3,980

Trust assets under management or administration


$

252,063


$

249,691


$

221,894

Total common stockholders' equity


$

52,119


$

48,767


$

50,322

Book value per common share


$

15.45


$

14.45


$

15.25

Book value per common share excluding accumulated other comprehensive income, net


$

15.31


$

14.89


$

14.04

Full time equivalent employees



254



236



277

Common shares outstanding



3,373,463



3,374,601



3,300,652











CAPITAL RATIOS










Tier 1 leverage (Consolidated)



11.28%



10.94%



11.26%

Tier 1 risk-based capital (Consolidated)



22.48%



21.67%



22.84%

Total risk-based capital (Consolidated)



23.76%



23.15%



24.50%

Tangible common equity (Consolidated)



5.61%



5.79%



6.29%











Tier 1 leverage (BNC National Bank)



10.21%



10.06%



10.64%

Tier 1 risk-based capital (BNC National Bank)



20.65%



20.13%



21.89%

Total risk-based capital (BNC National Bank)



21.92%



21.40%



23.15%

Tangible common equity (BNC National Bank)



9.36%



9.82%



10.97%













(a)

It is expected that $40 million of the deposit growth during the first of 2014 will be redeployed by our clients in the second quarter of 2014.

                                                                                                           

BNCCORP, INC.

CONSOLIDATED FINANCIAL DATA

(Unaudited)



For the Quarter

Ended March 31,

(In thousands)



2014



2013








AVERAGE BALANCES







Total assets


$

842,888


$

782,970

Loans held for sale-mortgage banking



24,104



78,572

Loans and leases held for investment



322,090



285,110

Total loans



346,194



363,682

Investment securities available for sale



429,304



303,348

Earning assets



787,305



720,392

Total deposits



722,471



663,619

Core deposits



657,892



612,793

Total equity



71,959



70,224

Cash and cash equivalents



29,937



71,298








KEY RATIOS







Return on average common stockholders' equity (a)



11.23%



30.81%

Return on average assets (b)



0.86%



1.96%

Net interest margin



3.20%



2.61%

Efficiency ratio



77.13%



58.89%

Efficiency ratio (BNC National Bank)



71.59%



56.38%



(a)

Return on average common stockholders' equity is calculated by using the net income available to common shareholders as the numerator and equity (less preferred stock and accumulated other comprehensive income) as the denominator.

(b)

Return on average assets is calculated by using net income as the numerator and average total assets as the denominator.

 

BNCCORP, INC.

CONSOLIDATED FINANCIAL DATA

(Unaudited)






As of

(In thousands)


March 31,

2014


December 31,

2013


March 31,

 2013








ASSET QUALITY










Loans 90 days or more delinquent and still accruing interest


$

-


$

96


$

41

Non-accrual loans



5,038



4,656



10,229

Total nonperforming loans


$

5,038


$

5,617


$

10,270

Other real estate, net



1,056



1,056



3,336

Total nonperforming assets


$

6,094


$

6,673


$

13,606

Allowance for credit losses


$

9,858


$

9,847


$

9,873

Troubled debt restructured loans


$

8,424


$

8,544


$

12,329

Ratio of total nonperforming loans to total loans



1.43%



1.60%



2.94%

Ratio of total nonperforming assets to total assets



0.66%



0.79%



1.70%

Ratio of nonperforming loans to total assets



0.54%



0.67%



1.28%

Ratio of allowance for credit losses to loans and leases held for investment



3.04%



3.10%



3.49%

Ratio of allowance for credit losses to total loans



2.80%



2.81%



2.83%

Ratio of allowance for credit losses to nonperforming loans



196%



175%



96%

 






For the Quarter

(In thousands)


Ended March 31,



2014


2013

Changes in Nonperforming Loans:







Balance, beginning of period


$

5,617


$

10,512

Additions to nonperforming



-



725

Charge-offs



(30)



(894)

Reclassified back to performing



-



-

Principal payments received



(549)



(73)

Transferred to repossessed assets



-



-

Transferred to other real estate owned



-



-

Balance, end of period


$

5,038


$

10,270

 



BNCCORP, INC.
CONSOLIDATED FINANCIAL DATA
(Unaudited)




(In thousands)


For the Quarter

Ended March 31,



2014


2013

Changes in Allowance for Credit Losses:







Balance, beginning of period


$

9,847


$

10,091

Provision (reduction)



(200)



700

Loans charged off



(46)



(944)

Loan recoveries



257



26

Balance, end of period


$

9,858


$

9,873








Ratio of net charge-offs to average total loans



0.061%



(0.252)%

Ratio of net charge-offs to average total loans, annualized



0.244%



(1.010)%








(In thousands)


For the Quarter

Ended March 31,



2014


2013

Changes in Other Real Estate:







Balance, beginning of period


$

1,056


$

5,131

Transfers from nonperforming loans



-



-

Real estate sold



-



(1,795)

Net gains (losses) on sale of assets



-



-

Provision



-



-

Balance, end of period


$

1,056


$

3,336










As of

(In thousands)




March 31,

2014


December 31,

2013


March 31,
2013

Other real estate




$

1,754


$

3,250


$

4,931

Valuation allowance





(698)



(2,194)



(1,595)

Other real estate, net




$

1,056


$

1,056


$

3,336

 

BNCCORP, INC.

CONSOLIDATED FINANCIAL DATA

(Unaudited)




As of

(In thousands)

March 31, 2014


December 31, 2013

CREDIT CONCENTRATIONS






North Dakota






    Commercial and industrial

$

69,517


$

73,277

    Construction


11,004



13,082

    Agricultural


14,516



16,847

    Land and land development


11,534



10,611

    Owner-occupied commercial real estate


28,993



28,435

    Commercial real estate


43,268



35,654

    Small business administration


2,325



2,188

    Consumer


32,302



31,695

      Subtotal

$

213,459


$

211,789

Arizona






    Commercial and industrial

$

4,858


$

3,021

    Construction


-



-

    Agricultural


-



-

    Land and land development


4,940



5,102

    Owner-occupied commercial real estate


1,436



1,571

    Commercial real estate


18,349



16,306

    Small business administration


17,186



15,502

    Consumer


2,560



2,248

      Subtotal

$

49,329


$

43,750

Minnesota






    Commercial and industrial

$

273


$

794

    Construction


-



-

    Agricultural


21



21

    Land and land development


572



578

    Owner-occupied commercial real estate


-



-

    Commercial real estate


15,481



15,589

    Small business administration


95



91

    Consumer


1,125



1,241

      Subtotal

$

17,567


$

18,314

 

SOURCE BNCCORP, INC.

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
SYS-CON Events announced today that Synametrics Technologies will exhibit at SYS-CON's 22nd International Cloud Expo®, which will take place on June 5-7, 2018, at the Javits Center in New York, NY. Synametrics Technologies is a privately held company based in Plainsboro, New Jersey that has been providing solutions for the developer community since 1997. Based on the success of its initial product offerings such as WinSQL, Xeams, SynaMan and Syncrify, Synametrics continues to create and hone inn...
Cloud Expo | DXWorld Expo have announced the conference tracks for Cloud Expo 2018. Cloud Expo will be held June 5-7, 2018, at the Javits Center in New York City, and November 6-8, 2018, at the Santa Clara Convention Center, Santa Clara, CA. Digital Transformation (DX) is a major focus with the introduction of DX Expo within the program. Successful transformation requires a laser focus on being data-driven and on using all the tools available that enable transformation if they plan to survive ov...
A strange thing is happening along the way to the Internet of Things, namely far too many devices to work with and manage. It has become clear that we'll need much higher efficiency user experiences that can allow us to more easily and scalably work with the thousands of devices that will soon be in each of our lives. Enter the conversational interface revolution, combining bots we can literally talk with, gesture to, and even direct with our thoughts, with embedded artificial intelligence, whic...
To get the most out of their data, successful companies are not focusing on queries and data lakes, they are actively integrating analytics into their operations with a data-first application development approach. Real-time adjustments to improve revenues, reduce costs, or mitigate risk rely on applications that minimize latency on a variety of data sources. In his session at @BigDataExpo, Jack Norris, Senior Vice President, Data and Applications at MapR Technologies, reviewed best practices to ...
DevOps promotes continuous improvement through a culture of collaboration. But in real terms, how do you: Integrate activities across diverse teams and services? Make objective decisions with system-wide visibility? Use feedback loops to enable learning and improvement? With technology insights and real-world examples, in his general session at @DevOpsSummit, at 21st Cloud Expo, Andi Mann, Chief Technology Advocate at Splunk, explored how leading organizations use data-driven DevOps to close th...
Continuous Delivery makes it possible to exploit findings of cognitive psychology and neuroscience to increase the productivity and happiness of our teams. In his session at 22nd Cloud Expo | DXWorld Expo, Daniel Jones, CTO of EngineerBetter, will answer: How can we improve willpower and decrease technical debt? Is the present bias real? How can we turn it to our advantage? Can you increase a team’s effective IQ? How do DevOps & Product Teams increase empathy, and what impact does empath...
As many know, the first generation of Cloud Management Platform (CMP) solutions were designed for managing virtual infrastructure (IaaS) and traditional applications. But that's no longer enough to satisfy evolving and complex business requirements. In his session at 21st Cloud Expo, Scott Davis, Embotics CTO, explored how next-generation CMPs ensure organizations can manage cloud-native and microservice-based application architectures, while also facilitating agile DevOps methodology. He expla...
Smart cities have the potential to change our lives at so many levels for citizens: less pollution, reduced parking obstacles, better health, education and more energy savings. Real-time data streaming and the Internet of Things (IoT) possess the power to turn this vision into a reality. However, most organizations today are building their data infrastructure to focus solely on addressing immediate business needs vs. a platform capable of quickly adapting emerging technologies to address future ...
With tough new regulations coming to Europe on data privacy in May 2018, Calligo will explain why in reality the effect is global and transforms how you consider critical data. EU GDPR fundamentally rewrites the rules for cloud, Big Data and IoT. In his session at 21st Cloud Expo, Adam Ryan, Vice President and General Manager EMEA at Calligo, examined the regulations and provided insight on how it affects technology, challenges the established rules and will usher in new levels of diligence arou...
Most technology leaders, contemporary and from the hardware era, are reshaping their businesses to do software. They hope to capture value from emerging technologies such as IoT, SDN, and AI. Ultimately, irrespective of the vertical, it is about deriving value from independent software applications participating in an ecosystem as one comprehensive solution. In his session at @ThingsExpo, Kausik Sridhar, founder and CTO of Pulzze Systems, discussed how given the magnitude of today's application ...
There is a huge demand for responsive, real-time mobile and web experiences, but current architectural patterns do not easily accommodate applications that respond to events in real time. Common solutions using message queues or HTTP long-polling quickly lead to resiliency, scalability and development velocity challenges. In his session at 21st Cloud Expo, Ryland Degnan, a Senior Software Engineer on the Netflix Edge Platform team, will discuss how by leveraging a reactive stream-based protocol,...
Mobile device usage has increased exponentially during the past several years, as consumers rely on handhelds for everything from news and weather to banking and purchases. What can we expect in the next few years? The way in which we interact with our devices will fundamentally change, as businesses leverage Artificial Intelligence. We already see this taking shape as businesses leverage AI for cost savings and customer responsiveness. This trend will continue, as AI is used for more sophistica...
In his session at 21st Cloud Expo, Raju Shreewastava, founder of Big Data Trunk, provided a fun and simple way to introduce Machine Leaning to anyone and everyone. He solved a machine learning problem and demonstrated an easy way to be able to do machine learning without even coding. Raju Shreewastava is the founder of Big Data Trunk (www.BigDataTrunk.com), a Big Data Training and consulting firm with offices in the United States. He previously led the data warehouse/business intelligence and B...
In his general session at 21st Cloud Expo, Greg Dumas, Calligo’s Vice President and G.M. of US operations, discussed the new Global Data Protection Regulation and how Calligo can help business stay compliant in digitally globalized world. Greg Dumas is Calligo's Vice President and G.M. of US operations. Calligo is an established service provider that provides an innovative platform for trusted cloud solutions. Calligo’s customers are typically most concerned about GDPR compliance, application p...
Digital transformation is about embracing digital technologies into a company's culture to better connect with its customers, automate processes, create better tools, enter new markets, etc. Such a transformation requires continuous orchestration across teams and an environment based on open collaboration and daily experiments. In his session at 21st Cloud Expo, Alex Casalboni, Technical (Cloud) Evangelist at Cloud Academy, explored and discussed the most urgent unsolved challenges to achieve f...