National Bank Holdings Corp (NBHC)
SIC breadcrumb: Finance, Insurance, And Real Estate > Depository Institutions > SIC 6021 National Commercial Banks
SEC company page: https://www.sec.gov/edgar/browse/?CIK=1475841. Latest filing source: 0001104659-26-019119.
Informational only. Descriptive public-record data — not a rating, forecast, or investment advice. See Disclaimer.
At a glance
- Revenue
- 519,774,000 USD verified
- Net income
- 109,574,000 USD verified
- Assets
- 9,883,518,000 USD verified
- Net margin
- 21.08% computed
- Revenue YoY
- -3.44% computed
- ROE
- 7.91% computed
Peer & cluster context
Peer percentile fingerprint
Percentile = share of the N covered peers reporting that ratio whose value is lower (ties counted half); computed among grepcent-covered companies in SIC industry 6021 National Commercial Banks, not the whole market. A higher percentile means a higher value of the ratio, not a better company. Ratios with fewer than 8 reporting peers are omitted. Latest reported values per company; fiscal periods may differ. Descriptive arithmetic - not a score, rating, or ranking.
Selected Fundamentals
| Metric | Value | Unit | FY | Filed |
|---|---|---|---|---|
| Revenue | 519,774,000 | USD | 2025 | 2026-02-24 |
| Net income | 109,574,000 | USD | 2025 | 2026-02-24 |
| Assets | 9,883,518,000 | USD | 2025 | 2026-02-24 |
Financials
Annual standardized facts from SEC companyfacts as of latest extracted filing date 2026-02-24. Source: https://data.sec.gov/api/xbrl/companyfacts/CIK0001475841.json. Derived margins, ratios, and free cash flow are computed from the extracted annual SEC facts.
| Metric | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 160,448,000 | 164,421,000 | 221,391,000 | 242,601,000 | 218,002,000 | 200,965,000 | 284,688,000 | 495,415,000 | 538,268,000 | 519,774,000 | ||
| Net income | 23,060,000 | 14,579,000 | 61,451,000 | 80,365,000 | 88,591,000 | 93,606,000 | 71,274,000 | 142,048,000 | 118,815,000 | 109,574,000 | ||
| Diluted EPS | 0.79 | 0.53 | 1.95 | 2.55 | 2.85 | 3.01 | 2.18 | 3.72 | 3.08 | 2.85 | ||
| Operating cash flow | -3,936,000 | 58,139,000 | 73,574,000 | 44,243,000 | -6,212,000 | 179,502,000 | 214,634,000 | 166,935,000 | 155,271,000 | 162,418,000 | ||
| Dividends paid | 6,400,000 | 9,401,000 | 16,624,000 | 23,530,000 | 24,816,000 | 26,888,000 | 30,447,000 | 39,643,000 | 42,945,000 | 46,055,000 | ||
| Share buybacks | 119,370,000 | 175,048,000 | 93,573,000 | 19,476,000 | 36,400,000 | 15,169,000 | ||||||
| Assets | 4,573,046,000 | 4,843,465,000 | 5,676,666,000 | 5,895,512,000 | 6,659,950,000 | 7,214,011,000 | 9,573,243,000 | 9,951,064,000 | 9,807,693,000 | 9,883,518,000 | ||
| Liabilities | 4,036,857,000 | 4,311,058,000 | 4,981,660,000 | 5,128,592,000 | 5,839,259,000 | 6,373,905,000 | 8,481,041,000 | 8,738,257,000 | 8,502,618,000 | 8,498,404,000 | ||
| Stockholders' equity | 536,189,000 | 532,407,000 | 695,006,000 | 766,920,000 | 820,691,000 | 840,106,000 | 1,092,202,000 | 1,212,807,000 | 1,305,075,000 | 1,385,114,000 | ||
| Cash and cash equivalents | 152,736,000 | 257,364,000 | 109,556,000 | 110,190,000 | 605,565,000 | 845,695,000 | 195,505,000 | 190,826,000 | 127,848,000 | 417,058,000 |
Ratios
| Metric | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net margin | 14.37% | 8.87% | 27.76% | 33.13% | 40.64% | 46.58% | 25.04% | 28.67% | 22.07% | 21.08% | ||
| Return on equity | 4.30% | 2.74% | 8.84% | 10.48% | 10.79% | 11.14% | 6.53% | 11.71% | 9.10% | 7.91% | ||
| Return on assets | 0.50% | 0.30% | 1.08% | 1.36% | 1.33% | 1.30% | 0.74% | 1.43% | 1.21% | 1.11% | ||
| Liabilities / equity | 7.53 | 8.10 | 7.17 | 6.69 | 7.12 | 7.59 | 7.77 | 7.20 | 6.52 | 6.14 |
Industry Peer Context
Net margin peer context
ROE peer context
ROA peer context
Financial Charts
Figure provenance: SEC companyfacts. Latest point: FY 2025 ended 2025-12-31; accession 0001104659-26-019119; filed 2026-02-24. Concept: InterestAndDividendIncomeOperating. Source concepts: us-gaap:InterestAndDividendIncomeOperating.
Figure provenance: SEC companyfacts. Latest point: FY 2025 ended 2025-12-31; accession 0001104659-26-019119; filed 2026-02-24. Concept: NetIncomeLoss. Source concepts: us-gaap:NetIncomeLoss.
Figure provenance: SEC companyfacts. Latest point: FY 2025 ended 2025-12-31; accession 0001104659-26-019119; filed 2026-02-24. Concept: EarningsPerShareDiluted. Source concepts: us-gaap:EarningsPerShareDiluted.
Figure provenance: SEC companyfacts. Latest point: FY 2025 ended 2025-12-31; accession 0001104659-26-019119; filed 2026-02-24. Concept: NetCashProvidedByUsedInOperatingActivities. Source concepts: us-gaap:NetCashProvidedByUsedInOperatingActivities.
Figure provenance: SEC companyfacts. Latest point: FY 2025 ended 2025-12-31; accession 0001104659-26-019119; filed 2026-02-24. Concept: PaymentsOfDividends. Source concepts: us-gaap:PaymentsOfDividends.
Figure provenance: SEC companyfacts. Latest point: FY 2025 ended 2025-12-31; accession 0001104659-26-019119; filed 2026-02-24. Concept: PaymentsForRepurchaseOfCommonStock. Source concepts: us-gaap:PaymentsForRepurchaseOfCommonStock.
Figure provenance: SEC companyfacts. Latest point: FY 2025 ended 2025-12-31; accession 0001104659-26-019119; filed 2026-02-24. Concept: Assets. Source concepts: us-gaap:Assets.
Figure provenance: SEC companyfacts. Latest point: FY 2025 ended 2025-12-31; accession 0001104659-26-019119; filed 2026-02-24. Concept: Liabilities. Source concepts: us-gaap:Liabilities.
Figure provenance: SEC companyfacts. Latest point: FY 2025 ended 2025-12-31; accession 0001104659-26-019119; filed 2026-02-24. Concept: StockholdersEquity. Source concepts: us-gaap:StockholdersEquity.
Figure provenance: SEC companyfacts. Latest point: FY 2025 ended 2025-12-31; accession 0001104659-26-019119; filed 2026-02-24. Concept: CashAndCashEquivalentsAtCarryingValue. Source concepts: us-gaap:CashAndCashEquivalentsAtCarryingValue.
As-reported value updates
Quarterly
Quarterly standardized facts from SEC companyfacts as of latest extracted filing date 2026-08-05. Source: https://data.sec.gov/api/xbrl/companyfacts/CIK0001475841.json.
| Quarter | End Date | Revenue | Net Income | Diluted EPS | Method |
|---|---|---|---|---|---|
| 2022-Q3 | 2022-09-30 | 0.50 | reported discrete quarter | ||
| 2023-Q1 | 2023-03-31 | 1.06 | reported discrete quarter | ||
| 2023-Q2 | 2023-06-30 | 0.85 | reported discrete quarter | ||
| 2023-Q3 | 2023-09-30 | 126,110,000 | 36,087,000 | 0.94 | reported discrete quarter |
| 2023-Q4 | 2023-12-31 | 134,703,000 | 33,121,000 | derived Q4 = FY annual - nine-month YTD | |
| 2024-Q1 | 2024-03-31 | 131,732,000 | 31,391,000 | 0.82 | reported discrete quarter |
| 2024-Q2 | 2024-06-30 | 132,447,000 | 26,135,000 | 0.68 | reported discrete quarter |
| 2024-Q3 | 2024-09-30 | 138,003,000 | 33,105,000 | 0.86 | reported discrete quarter |
| 2024-Q4 | 2024-12-31 | 136,086,000 | 28,184,000 | derived Q4 = FY annual - nine-month YTD | |
| 2025-Q1 | 2025-03-31 | 129,963,000 | 24,231,000 | 0.63 | reported discrete quarter |
| 2025-Q2 | 2025-06-30 | 131,220,000 | 34,022,000 | 0.88 | reported discrete quarter |
| 2025-Q3 | 2025-09-30 | 132,238,000 | 35,285,000 | 0.92 | reported discrete quarter |
| 2025-Q4 | 2025-12-31 | 126,353,000 | 16,036,000 | derived Q4 = FY annual - nine-month YTD | |
| 2026-Q1 | 2026-03-31 | 159,151,000 | 20,793,000 | 0.46 | reported discrete quarter |
| 2026-Q2 | 2026-06-30 | 162,004,000 | 26,490,000 | 0.58 | reported discrete quarter |
Quarterly Charts
Figure provenance: SEC companyfacts. Latest point: FY 2026 ended 2026-06-30; accession 0001104659-26-091272; filed 2026-08-05. Concept: InterestAndDividendIncomeOperating. Source concepts: us-gaap:InterestAndDividendIncomeOperating.
Figure provenance: SEC companyfacts. Latest point: FY 2026 ended 2026-06-30; accession 0001104659-26-091272; filed 2026-08-05. Concept: NetIncomeLoss. Source concepts: us-gaap:NetIncomeLoss.
Figure provenance: SEC companyfacts. Latest point: FY 2026 ended 2026-06-30; accession 0001104659-26-091272; filed 2026-08-05. Concept: EarningsPerShareDiluted. Source concepts: us-gaap:EarningsPerShareDiluted.
Business
Read NBHC's verbatim Item 1 Business section from its latest 10-K: Business.
Risk Factors
Read NBHC's verbatim Item 1A Risk Factors from its latest 10-K: Risk Factors.
Latest quarter (10-Q)
Latest 10-Q source: 0001104659-26-091272.
Item 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS.
The following management’s discussion and analysis of our financial condition and results of operations should be read in conjunction with our consolidated financial statements and related notes as of and for the three and six months ended June 30, 2026, and with our annual report on Form 10-K (file number 001-35654), which includes our audited consolidated financial statements and related notes as of and for the years ended December 31, 2025, 2024 and 2023.Our acquisition of Vista occurred on January 7, 2026, subsequent to the dates of information in our most recent report on Form 10-K, and comparisons herein to quarters or years prior to January 7, 2026 should be reviewed with that context. This discussion and analysis contains forward-looking statements that involve risks, uncertainties and assumptions that may cause actual results to differ materially from management’s expectations. Factors that could cause such differences are discussed in the section entitled “Cautionary Note Regarding Forward-Looking Statements” and in Item 1A“Risk Factors” in the annual report on Form 10-K, referenced above, and should be read herewith.
All amounts are in thousands, except share and per share data, or as otherwise noted.
Overview
Our focus is on building relationships by creating a win-win scenario for our clients and our Company. We believe in providing solutions and services for our clients that are based on fairness and simplicity. We have established a solid financial services franchise with a sizable presence for deposit gathering and building client relationships necessary for growth. We have executed on strategic acquisition opportunities to expand our presence in attractive markets and to diversify our revenue streams. Our digital banking solution, 2UniFiSM, continues to focus on providing a unified client experience that helps small- and medium-sized business owners manage financial products and services across multiple banks and fintechs. We believe that our established presence in our core markets of Colorado, the greater Kansas City region, Texas, Utah, Wyoming, New Mexico, Idaho and Palm Beach, Florida, as well as our ongoing investment in digital solutions and strategic acquisitions, position us well for growth opportunities. As of June 30, 2026, we had $12.6 billion in assets, $9.8 billion in loans, $10.4 billion in deposits, $1.7 billion in equity and $1.5 billion in assets under management in our trust and wealth management business.
Operating Highlights
Strategic execution
| | | |
|---|---|---|
| | | |
| ● | | The Company closed the acquisition of Vista on January 7, 2026, which further strengthens the Company’s presence in thehigh-growth Dallas-Ft. Worth, Austin, and Lubbock, Texas markets. The acquisition added $1.9 billion in total loans and $2.2 billion in total deposits at the closing date. The transaction was valued at $377.7 million in the aggregate, based on the Company’s closing price of $39.51 on January 6, 2026. The Company paid $89.0 million of cash consideration and $288.7 million in NBHC common stock. In addition, the Company held $45.0 million in debt of Vista that was effectively settled upon closing. The core system conversion for this transaction was completed in July 2026. |
| ● | | The Company generated record loan fundings of $926.9 million in the second quarter of 2026, and year-to-date annualized organic loan growth totaled 9.7%. |
| ● | | Enhanced shareholder returns by executing $27.2 million of share buybacks for the six months ended June 30, 2026. |
Profitability and returns
| | | |
|---|---|---|
| ● | | Net income totaled $47.3 million, or $1.04 per diluted share, for the six months ended June 30, 2026, compared to net income of $58.3 million, or $1.51 per diluted share, for the six months ended June 30, 2025. During the six months ended June 30, 2026, acquisition and restructuring charges totaled $20.6 million, after tax. Adjusted net income, excluding these items, increased $9.7 million, or 16.6%, to $67.9 million, during the six months ended June 30, 2026. Adjusted earnings per–diluted share totaled $1.50 for the six months ended June 30, 2026. |
| ● | | Pre-provision net revenue FTE totaled $68.5 million and $85.4 million for the six months ended June 30, 2026 and 2025, respectively. Excluding acquisition and restructuring charges, adjusted pre-provision net revenue FTE increased $9.9 million, or 11.5%, to $95.3 million for the six months ended June 30, 2026, compared to $85.4 million for the same period in the prior year. |
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| ● | | The return on average assets totaled 0.78% and 1.19% for the six months ended June 30, 2026 and 2025, respectively. Excluding acquisition and restructuring charges, the adjusted return on average tangible assets totaled 1.23% for the six months ended June 30, 2026, compared to 1.29% for the same period in the prior year. |
|---|---|---|
| ● | | The return on average equity totaled 5.68% for the six months ended June 30, 2026, compared to 8.80% for the six months ended June 30, 2025. Excluding acquisition and restructuring charges, the adjusted return on average tangible common equity for the six months ended June 30, 2026 was 12.11%, compared to 12.44% for the six months ended June 30, 2025. |
Loan portfolio
| | ||
|---|---|---|
| ● | | Loans increased $2.3 billion, or 31.5%, to $9.8 billion as of June 30, 2026, compared to $7.4 billion at December 31, 2025. The increase was driven by record loan fundings totaling $1.7 billion for the six months ended June 30, 2026, in addition to the acquired Vista loans totaling $1.9 billion on January 7, 2026. |
| ● | | The Company’s loan portfolio is comprised of 57.3% commercial loans, 27.1% non-owner occupied CRE loans, 15.4% residential loans, and 0.2% other loans. |
| ● | | The Company maintained a conservatively structured loan portfolio represented by diverse industries and sector concentrations at 15% or less of total loans. All concentration levels remain well below our self-imposed limits. |
| ● | | Non-owner occupied CRE loans, which are comprised of multiple industry sectors, were 171.6% of the Company’s risk based capital, or 27.1%, of total loans, and no specific property type comprised more than 7.0% of total loans at June 30, 2026. |
| ● | | The Company maintains a low level of non-owner occupied CRE retail properties and office properties. Including available credit, non-owner occupied CRE retail and office properties comprised 3.7% and 2.3% of total loans, respectively, at June 30, 2026. Multifamily loans totaled $299.8 million, or 3.1% of total loans at June 30, 2026. |
| ● | | We do not originate high-dollar non-amortizing or balloon payment mortgage loans to our clients. |
Credit quality
| | | |
|---|---|---|
| ● | | Allowance for credit losses totaled 1.13% of total loans at June 30, 2026, compared to 1.18% at December 31, 2025. |
| ● | | The Company continued to prudently manage credit risk in 2026, further strengthening our credit profile. Non-performing loans improved three basis points to 0.31% of total loans at June 30, 2026, compared to 0.34% at December 31, 2025. |
| ● | | Criticized loans decreased $16.3 million, or 5.2%, to $298.0 million as of June 30, 2026, compared to December 31, 2025. |
| ● | | Provision expense for credit losses totaled $5.5 million and $10.2 million during the six months ended June 30, 2026 and 2025, respectively. |
| ● | | Net charge-offs of $14.1 million and $16.1 million were recorded during the six months ended June 30, 2026 and 2025, respectively, and annualized net charge-offs to average total loans totaled 0.30% and 0.43% for the six months ended June 30, 2026 and 2025, respectively. |
Deposits
| | | .9 |
|---|---|---|
| ● | | Average total deposits for the six months ended June 30, 2026 increased $1.9 billion to $10.2 billion, compared to the six months ended June 30, 2025. The increase was driven by $2.2 billion of total deposits, on a spot basis, related to the Vista acquisition on January 7, 2026. |
| ● | | Average transaction deposits for the six months ended June 30, 2026 increased $1.7 billion to $8.9 billion, compared to the six months ended June 30, 2025. The increase was driven by $2.0 billion of transaction deposits, on a spot basis, related to the Vista acquisition. |
| ● | | The mix of transaction deposits to total deposits increased 77 basis points to 87.8% at June 30, 2026, compared to June 30, 2025. |
| ● | | Cost of deposits improved 11 basis points to 1.93% for the six months ended June 30, 2026, compared to the six months ended June 30, 2025, as a result of our disciplined deposit pricing. |
| ● | | Approximately 69% of our deposits were FDIC insured as of June 30, 2026. |
Liquidity
| | | .9 |
|---|---|---|
| ● | | The Company prudently manages liquidity and maintains a profile focused on core deposits and stable, long-term anddiversified funding sources, including access to Cambr platform deposits. |
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| ● | | On-balance sheet liquidity totaled $915.3 million at June 30, 2026 and was comprised of $380.7 million of cash and $534.6 million of unencumbered investments. |
|---|---|---|
| ● | | Liquidity is monitored and managed to ensure that sufficient funds are available on-demand to meet our business needs. At June 30, 2026, the Company’s available secured and committed borrowing capacity at the FHLB and FRB totaled $3.9 billion. The Company also accesses a variety of other short-term and long-term unsecured funding sources, which include access to Cambr platform deposits, multiple brokered deposit platform options and lines of credit. |
| ● | | Our investment securities portfolio has a short average duration and targets a neutral interest rate position. The portfolio is entirely backed by U.S. government or GSEs, which we believe mitigates the risk of material losses. Regarding the fair value of investment securities, our accumulated other comprehensive loss does not have a material impact on our capital position. |
Revenues
[Excerpt truncated for page length; source filing is linked above.]
Latest 10-K MD&A (excerpt)
Latest 10-K Item 7 source: 0001104659-26-019119. The complete FY 2025 MD&A is published at /company/NBHC/mda/fy2025/.
Item 7. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS.
The following management’s discussion and analysis of our financial condition and results of operations should be read in conjunction with our consolidated financial statements and related notes as of and for the years ended December 31, 2025, 2024, and 2023, and with the other financial and statistical data presented in this annual report. This discussion and analysis contains forward-looking statements that involve risks, uncertainties and assumptions that may cause actual results to differ materially from management’s expectations. Factors that could cause such differences are discussed in the section entitled “Cautionary Note Regarding Forward-Looking Statements” and “Risk Factors” and should be read herewith.
Management’s discussion focuses on 2025 results compared to 2024. For a discussion of 2024 results compared to 2023, refer to the Company’s Annual Report on Form 10-K for the year ended December 31, 2024.
All amounts are in thousands, except share and per share data, or as otherwise noted.
Overview
Our focus is on building relationships by creating a win-win scenario for our clients and our Company. We believe in providing solutions and services to our clients that are based on fairness and simplicity. We have established a solid financial services franchise with a sizable presence for deposit gathering and building client relationships necessary for growth. We have executed on strategic acquisition opportunities to expand our presence in attractive markets and to diversify our revenue streams. Additionally, we are innovating through 2UniFi with the goal of delivering a comprehensive digital financial ecosystem for our clients. We are focused on providing small- and medium-sized businesses with alternative digital access to address borrowing, depository and cash management needs, while also providing information management and access to digital payment tools, under the safety of a regulated bank. We believe that our established presence in our core markets of Colorado, the greater Kansas City region, Texas, Utah, Wyoming, New Mexico and Idaho, as well as our ongoing investment in digital solutions and strategic acquisitions, position us well for growth opportunities. As of December 31, 2025, we had $9.9 billion in assets, $7.4 billion in loans, $8.3 billion in deposits, $1.4 billion in equity and $1.3 billion in assets under management in our trust and wealth management business.
Operating Highlights
Strategic execution
| | | |
|---|---|---|
| ● | | The Company closed the acquisition of Vista on January 7, 2026, which further strengthens the Company’s presence in Texas, acquiring banking centers in Dallas-Ft. Worth, Austin, and Lubbock, as well as one banking center in Palm Beach, Florida. At December 31, 2025, Vista held $2.5 billion in total assets, $1.9 billion in loans and $2.2 billion in deposits. The aggregate consideration paid at the time of acquisition was $377.7 million, consisting of $89.0 million in cash with the remainder paid in 7.3 million shares of NBHC common stock, based on the closing price of $39.51 on January 6, 2026. The system conversion for this transaction will be completed during the third quarter of 2026. |
| ● | | At December 31, 2025, common book value per share was $36.67. Tangible common book value per share increased $2.52, or 10.0%, to $27.80, during the year ended December 31, 2025, primarily driven by the year’s earnings. |
| ● | | In July 2025, the Company launched the initial phase of 2UniFi, an innovative financial ecosystem built to empower business entrepreneurs with treasury management depository capabilities and a streamlined SBA loan offering. In conjunction with the continued investment in the 2UniFi buildout, the Company incurred $21.6 million and $13.0 million of non-interest expense during the years ended December 31, 2025 and 2024, respectively, primarily within salaries and benefits, occupancy and equipment, and professional fees. |
| ● | | During the year ended December 31, 2025, the Company repurchased 416,795 shares of common stock for $15.2 million at a weighted average price per share of $36.40 as part of our capital strategy. |
| ● | | The Company prudently manages liquidity and maintains a profile focused on core deposits and stable, long-term and diversified funding sources, including access to Cambr platform deposits. The Company maintains an investment portfolio with a short average duration and targets a neutral interest rate position. |
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Profitability and returns
| | | |
|---|---|---|
| ● | | Net income totaled $109.6 million, or $2.85 per diluted share, for the year ended December 31, 2025, compared to net income of $118.8 million, or $3.08 per diluted share, for the year ended December 31, 2024. During the year ended December 31, 2025, acquisition-related expenses totaled $7.2 million. During 2025 and 2024, the Company sold $57.8 million and $132.1 million, respectively, of AFS investment securities on the open market as part of the Company’s strategic balance sheet management resulting in pre-tax losses of $3.3 million and $6.6 million, respectively. Adjusting for the items above, net income totaled $117.6 million and $123.9 million, and diluted earnings per share totaled $3.06 and $3.22 during the years ended December 31, 2025 and 2024, respectively. |
| ● | | Pre-provision net revenue FTE totaled $159.3 million and $159.1 million for the years ended December 31, 2025 and 2024, respectively. Adjusting for acquisition-related expenses in 2025 and the loss on AFS security sales included in 2025 and 2024, pre-provision net revenue FTE increased $4.1 million, or 2.5%, to $169.8 million for the year ended December 31, 2025, compared to 2024. |
| ● | | The return on average assets totaled 1.11% and 1.20% for the years ended December 31, 2025 and 2024, respectively. Adjusting for acquisition-related expenses in 2025 and the loss on AFS security sales, the return on average tangible assets for the years ended December 31, 2025 and 2024 totaled 1.30% and 1.36%, respectively. |
| ● | | The return on average equity was 8.08% and 9.41% for the years ended December 31, 2025 and 2024, respectively. Adjusting for acquisition-related expenses in 2025 and the loss on AFS security sales, the return on average tangible common equity totaled 12.15% and 14.20% for the years ended December 31, 2025 and 2024, respectively. |
Loan portfolio
| | | |
|---|---|---|
| ● | | Loans totaled $7.4 billion at December 31, 2025, compared to $7.8 billion at December 31, 2024. |
| ● | | During the year ended December 31, 2025, the Company generated loan fundings totaling $1.6 billion, including $591.0 million during the fourth quarter of 2025, with a weighted average new loan origination rate of 6.4% during the fourth quarter of 2025. |
| ● | | The Company maintained a conservatively structured loan portfolio represented by diverse industries and concentrations with industry sector concentrations at 15% or less of total loans and all concentration levels remain well below our self-imposed limits. |
| ● | | Non-owner occupied CRE loans, which are comprised of multiple industry sectors, were 127.1% of the Company’s risk based capital, or 21.3% of total loans, and no specific property type comprised more than 7.0% of total loans at December 31, 2025. |
| ● | | The Company maintains a low level of non-owner occupied CRE retail properties and office properties. Including available credit, non-owner occupied CRE retail properties and office properties comprised 1.9% and 1.2% of total loans, respectively, at December 31, 2025. |
| ● | | Multifamily loans totaled $298.5 million, or 4.0% of total loans as of December 31, 2025. |
| ● | | We do not originate high-dollar non-amortizing or balloon payment mortgage loans to our clients. |
Credit quality
| | | |
|---|---|---|
| ● | | Allowance for credit losses totaled 1.18% of total loans at December 31, 2025, compared to 1.22% at December 31, 2024. |
| ● | | The Company continued to prudently manage credit risk in 2025, further strengthening our credit profile. Non-performing loans improved 12 basis points to 0.34% of total loans at December 31 2025, compared to 0.46% at December 31, 2024. |
| ● | | Criticized loans decreased $70.4 million, or 18.3%, to $314.3 million as of the year ended December 31, 2025, compared to 2024. |
| ● | | Provision expense for credit losses totaled $17.8 million and $6.8 million during the years ended December 31, 2025 and 2024, respectively. |
| ● | | Net charge-offs of $25.2 million and $9.8 million were recorded during 2025 and 2024, respectively. Net charge-offs to average total loans totaled 0.34% and 0.13% for 2025 and 2024, respectively. |
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Deposits
| | | .9 |
|---|---|---|
| ● | | Average total deposits totaled $8.2 billion and $8.3 billion for the years ended December 31, 2025 and 2024, respectively. |
| ● | | Average transaction deposits totaled $7.1 billion and $7.3 billion for the years ended December 31, 2025 and 2024, respectively. |
| ● | | The mix of transaction deposits to total deposits was 86.1% and 87.6% at December 31, 2025 and 2024, respectively. |
| ● | | Cost of deposits improved 21 basis points to 2.02% during the year ended December 31, 2025, as a result of our disciplined deposit pricing over the last 12 months as the FRB lowered rates. |
| ● | | Approximately 76% of our deposits were FDIC insured as of December 31, 2025. |
Liquidity
| | | .9 |
|---|---|---|
| ● | | On-balance sheet liquidity totaled $884.0 million as of December 31, 2025 and was comprised of $417.1 million of cash and $466.9 million of unencumbered investments. |
| ● | | Liquidity is monitored and managed to ensure that sufficient funds are available on demand to meet our business needs. At December 31, 2025, the Company’s available secured and committed borrowing capacity at the FHLB and FRB totaled $3.0 billion. The Company also accesses a variety of other short-term and long-term unsecured funding sources, which include access to Cambr platform deposits, multiple brokered deposit platform options and lines of credit. |
| ● | | Our investment securities portfolio has a short average duration and is largely backed by U.S. government agencies or GSEs, which we believe mitigates the risk of material losses. Regarding the fair value of investment securities, our accumulated other comprehensive loss does not have a material impact on our capital position. |
| ● | | The ratio of total shareholders’ equity to total assets was 14.0% at December 31, 2025, compared to 13.3% at December 31, 2024. Our tangible common equity capital ratio, which includes the accumulated other comprehensive loss, totaled 11.0% at December 31, 2025, compared to 10.2% at December 31, 2024. |
Revenues
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MD&A history
Prior-year 10-K MD&A spans are extracted from SEC filings with the same bounded parser used for the latest filing. Each year's full verbatim text is on its own sub-page.
Macro cross-references for NBHC
- FEDFUNDS - Federal Funds Effective Rate
- DFEDTARU - Federal Funds Target Range - Upper Limit
- DGS2 - Market Yield on U.S. Treasury Securities at 2-Year Constant Maturity
- DGS10 - Market Yield on U.S. Treasury Securities at 10-Year Constant Maturity
- T10Y2Y - 10-Year Treasury Constant Maturity Minus 2-Year Treasury Constant Maturity