$NBHC

National Bank Holdings Corp

CIK:0001475841|SEC Filings

Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Interest and dividend income:
Interest and fees on loans	$ 148,604	$ 120,238	$ 293,579	$ 240,445
Interest and dividends on investment securities	10,951	9,834	21,102	18,571
Dividends on other securities	684	466	1,200	946
Interest on interest bearing bank deposits	1,765	682	5,274	1,221
Total interest and dividend income	162,004	131,220	321,155	261,183
Interest expense:
Interest on deposits	48,900	41,845	97,269	83,112
Interest on borrowings	3,812	1,966	5,792	3,971
Total interest expense	52,712	43,811	103,061	87,083
Net interest income before provision for credit losses	109,292	87,409	218,094	174,100
Provision for credit loss expense	1,500		5,500	10,200
Net interest income after provision for credit losses	107,792	87,409	212,594	163,900
Non-interest income:
Non-interest income	11,940	11,116	23,297	21,938
Mortgage banking income	2,423	2,547	5,165	5,862
Bank-owned life insurance income	903	776	1,790	1,540
Other non-interest income	7,323	4,884	12,901	7,869
Gain on security sales			246
Total non-interest income	19,766	17,066	37,745	32,442
Non-interest expense:
Salaries and benefits	54,366	37,746	111,336	72,108
Occupancy and equipment	16,154	9,436	31,988	20,273
Data processing	7,945	4,452	15,598	8,853
Marketing and business development	1,923	968	3,427	1,914
FDIC deposit insurance	1,402	990	2,760	2,316
Bank card expenses	1,317	1,268	2,395	2,371
Professional fees	3,002	1,680	5,234	3,103
Other non-interest expense	6,408	4,444	14,152	10,086
Other intangible assets amortization	2,433	1,947	4,897	3,924
Total non-interest expense	94,950	62,931	191,787	124,948
Income before income taxes	32,608	41,544	58,552	71,394
Income tax expense	6,118	7,522	11,269	13,141
Net income	$ 26,490	$ 34,022	$ 47,283	$ 58,253
Earnings per share-basic (in dollars per share)	$ 0.58	$ 0.89	$ 1.04	$ 1.52
Earnings per share-diluted (in dollars per share)	0.58	0.88	1.04	1.51
Common stock dividend	$ 0.32	$ 0.3	$ 0.64	$ 0.59
Weighted average number of common shares outstanding:
Basic (in shares)	44,665,184	38,075,896	44,553,109	38,072,196
Diluted (in shares)	44,915,790	38,151,810	44,761,348	38,186,660
Service charges
Non-interest income:
Non-interest income	$ 4,501	$ 4,127	$ 8,693	$ 8,245
Bank card fees
Non-interest income:
Non-interest income	$ 4,616	$ 4,732	$ 8,950	$ 8,926

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities:
Net income	$ 47,283	$ 58,253
Adjustments to reconcile net income to net cash provided by operating activities:
Provision for credit loss expense	5,500	10,200
Depreciation and amortization	20,099	12,247
Change in current income tax receivable	(4,041)	208
Change in deferred income taxes	(3,498)	8,456
Discount accretion, net of premium amortization on securities	(2,319)	(1,170)
Gain on sale of mortgages, net	(4,988)	(4,642)
Origination of loans held for sale, net of repayments	(161,150)	(167,883)
Proceeds from sales of loans held for sale	165,347	176,236
Originations of mortgage servicing rights	(148)	(102)
Proceeds from sales of mortgage servicing rights		2,360
Gain on sale of mortgage servicing rights		(646)
Gain on sale of fixed assets		(1,349)
Stock-based compensation	13,416	3,695
Gain on security sales	(246)
Operating lease payments	(3,764)	(3,278)
Change in other assets	2,666	(1,531)
Change in other liabilities	4,145	(19,086)
Net cash provided by operating activities	78,302	71,968
Cash flows from investing activities:
Proceeds from maturities and paydowns of other securities	2,670
Proceeds from maturities and paydowns of investment securities available-for-sale	61,757	74,609
Proceeds from maturities and paydowns of investment securities held-to-maturity	96,855	76,710
Proceeds from sales of other securities	21,972	32,429
Proceeds from sales of investment securities available-for-sale	176,406	0
Proceeds from sales of other real estate owned	6,032	269
Purchases of other securities	(32,598)	(37,009)
Purchases of investment securities available-for-sale	(154,341)	(160,543)
Purchases of investment securities held-to-maturity	(202,218)	(260,257)
Purchases of premises and equipment, net	(9,632)	(16,008)
Net (increase) decrease in loans	(434,327)	237,115
Proceeds from the sale of loans	5,748	11,941
Net cash activity for acquisitions	250,074
Net cash used in investing activities	(211,602)	(40,744)
Cash flows from financing activities:
Net (decrease) increase in deposits	(108,210)	31,602
Net increase (decrease) in repurchase agreements and other short-term borrowings	2,889	(382)
Proceeds from long-term debt issuance	150,000
Payment of long-term debt issuance costs	(2,752)
Net (payments to) advances from the FHLB	115,000	135,000
Issuance of stock under purchase and equity compensation plans	(4,199)	(1,817)
Proceeds from exercise of stock options	717	53
Payment of dividends	(29,265)	(22,808)
Repurchase of common stock	(27,242)	(4,237)
Net cash provided by financing activities	96,938	137,411
(Decrease) increase in cash and cash equivalents	(36,362)	168,635
Cash and cash equivalents at beginning of the year	417,058	127,848
Cash and cash equivalents at end of period	380,696	296,483
Supplemental disclosure of cash flow information during the period:
Cash paid for interest	100,848	87,945
Net tax payments	764	$ 8,892
Supplemental schedule of non-cash activities:
Loans transferred to other real estate owned at fair value	2,186
Increase in loans purchased but not settled	$ 32,153

Consolidated Statements of Financial Condition - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
ASSETS
Cash and cash equivalents	$ 380,696	$ 417,058
Investment securities available-for-sale (at fair value)	585,533	528,639
Investment securities held-to-maturity (fair value of $696,725 and $597,449 at June 30, 2026 and December 31, 2025, respectively)	758,223	651,732
Other securities	99,184	80,634
Loans	9,774,052	7,433,356
Allowance for credit losses	(110,271)	(87,415)
Loans, net	9,663,781	7,345,941
Loans held for sale	26,486	25,695
Other real estate owned	4,174	1,674
Premises and equipment, net	234,139	214,554
Goodwill	455,408	306,043
Intangible assets, net	64,631	48,337
Other assets	313,881	263,211
Total assets	12,586,136	9,883,518
Liabilities:
Non-interest bearing demand deposits	2,575,684	2,204,241
Interest bearing demand deposits	1,568,250	1,237,006
Savings and money market	4,975,841	3,701,616
Time deposits	1,269,658	1,149,771
Total deposits	10,389,433	8,292,634
Securities sold under agreements to repurchase	20,239	17,350
Long-term debt, net	202,003	54,540
Federal Home Loan Bank advances	125,000
Other liabilities	180,357	133,880
Total liabilities	10,917,032	8,498,404
Shareholders' equity:
Common stock, par value $0.01 per share: 400,000,000 shares authorized; 58,848,464 and 51,487,888 shares issued; and 44,537,718 and 37,772,516 shares outstanding at June 30, 2026 and December 31, 2025, respectively	588	515
Additional paid-in capital	1,460,627	1,171,581
Retained earnings	590,437	572,461
Treasury stock of 13,493,302 and 13,412,216 shares at June 30, 2026 and December 31, 2025, respectively, at cost	(333,131)	(315,397)
Accumulated other comprehensive loss, net of tax	(49,417)	(44,046)
Total shareholders' equity	1,669,104	1,385,114
Total liabilities and shareholders' equity	$ 12,586,136	$ 9,883,518