National Bank Holdings Corporation (NYSE:NBHC) Q2 2022 Earnings Conference Call July 2, 2022 11:00 AM ET Company Participants Tim Laney ??? Chairman, President and Chief Executive Officer Aldis Birkans ??? Chief Financial Officer Conference Call Participants Jeff Rulis ??? D.A. Davidson Andrew Liesch ??? Piper Sandler Andrew Terrell ??? Stephens Inc. Kelly Motta ??? KBW Brett Rabatin ??? Hovde Group Operator Good morning, everyone. And welcome to the National Bank Holdings Corporation 2022 Second Quarter Ea ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-35654 NATIONAL BANK HOLDINGS CORPORATION (Exact name of registrant as specified in its charter) (State or other jurisdiction of ...

National Bank Holdings Corporation (NYSE:NBHC) Q1 2022 Earnings Conference Call April 19, 2022 11:00 AM ET Company Participants Timothy Laney ??? Chairman, President and Chief Executive Officer Aldis Birkans ??? Chief Financial Officer Conference Call Participants Brett Rabatin ??? Hovde Group, LLC Andrew Liesch ??? Piper Sandler Companies Jeffrey Rulis ??? D. A. Davidson & Co. Kelly Motta ??? Keefe, Bruyette & Woods, Inc. Andrew Terrell ??? Stephens Inc. Operator Good morning, everyone and welcome to the N ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-35654 NATIONAL BANK HOLDINGS CORPORATION (Exact name of registrant as specified in its charter) Delaware 27-0563799 (State or ...

National Bank Holdings Corporation (NYSE:NBHC) Q4 2021 Earnings Conference Call January 20, 2022 11:00 AM ET Company Participants Tim Laney - President and CEO Aldis Birkans - CFO Conference Call Participants Jeff Rulis - D.A. Davidson Andrew Liesch - Piper Sandler Kelly Motta - KBW Brett Rabatin - Hovde Group John Walter - Stephens Disclaimer*: This transcript is designed to be used alongside the freely available audio recording on this page. Timestamps within the transcript are designed to help you naviga ...

Part I. Financial Information [Item 1. Financial Statements (Unaudited)](index=5&type=section&id=Item%201.%20Financial%20Statements%20(Unaudited)) This section presents the unaudited consolidated financial statements, including statements of financial condition, operations, and cash flows, with detailed accounting policy notes [Consolidated Statements of Financial Condition](index=7&type=section&id=Consolidated%20Statements%20of%20Financial%20Condition) As of September 30, 2021, total assets grew to $7.10 billion from $6.66 billion at year-end 2020, driven by increases in cash and investment securities Consolidated Balance Sheet Highlights (in thousands) | Account | Sep 30, 2021 | Dec 31, 2020 | | :--- | :--- | :--- | | **Assets** | | | | Cash and cash equivalents | $807,370 | $605,565 | | Investment securities (AFS & HTM) | $1,300,469 | $1,038,570 | | Loans, net | $4,372,605 | $4,293,949 | | **Total Assets** | **$7,100,991** | **$6,659,950** | | **Liabilities & Equity** | | | | Total deposits | $6,134,620 | $5,676,232 | | Total liabilities | $6,256,275 | $5,839,259 | | Total shareholders' equity | $844,716 | $820,691 | | **Total Liabilities & Equity** | **$7,100,991** | **$6,659,950** | [Consolidated Statements of Operations](index=8&type=section&id=Consolidated%20Statements%20of%20Operations) For the nine months ended September 30, 2021, net income increased to $70.8 million, driven by a significant provision release for loan losses Key Performance Indicators (in thousands, except per share data) | Metric | Nine Months Ended Sep 30, 2021 | Nine Months Ended Sep 30, 2020 | | :--- | :--- | :--- | | Net Interest Income | $137,658 | $144,390 | | Provision (release) for loan losses | $(9,425) | $17,630 | | Non-interest Income | $87,149 | $106,901 | | Non-interest Expense | $147,325 | $157,752 | | **Net Income** | **$70,837** | **$61,422** | | **Diluted EPS** | **$2.27** | **$1.97** | - For the third quarter of 2021, net income was **$19.8 million**, a decrease from **$27.9 million** in Q3 2020, primarily due to a significant drop in mortgage banking income from **$34.9 million** to **$16.6 million** year-over-year[14](index=14&type=chunk) [Consolidated Statements of Cash Flows](index=12&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) Net cash provided by operating activities significantly improved to $144.9 million, while investing activities increased cash usage, and financing activities provided $417.7 million Cash Flow Summary (in thousands) | Activity | Nine Months Ended Sep 30, 2021 | Nine Months Ended Sep 30, 2020 | | :--- | :--- | :--- | | Net cash provided by (used in) operating activities | $144,866 | $(59,755) | | Net cash used in investing activities | $(366,191) | $(206,464) | | Net cash provided by financing activities | $417,655 | $601,132 | | **Increase in cash and cash equivalents** | **$196,330** | **$334,913** | [Notes to Consolidated Financial Statements](index=13&type=section&id=Notes%20to%20Consolidated%20Financial%20Statements) The notes provide detailed disclosures on accounting policies, investment and loan portfolios, credit losses, MSRs, regulatory capital, and derivatives - The company invested **$20.0 million** in Finstro Global Holdings Inc. and **$2.0 million** in Figure Technologies during the first nine months of 2021 as part of its digital financial ecosystem strategy for small and medium-sized businesses[45](index=45&type=chunk) - COVID-19 related loan modifications on deferral plans decreased significantly to **$0.9 million** as of September 30, 2021, down from **$173.6 million** at year-end 2020[62](index=62&type=chunk) - During Q3 2021, the company sold mortgage servicing rights (MSRs) on loans with **$1.3 billion** in unpaid principal balances, resulting in a **$1.3 million** gain[75](index=75&type=chunk) - On November 5, 2021, the Company issued a **$40.0 million** subordinated note with a fixed rate of **3.00%** for the first five years, maturing in 2031[156](index=156&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=59&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses financial performance, highlighting **$70.8 million** net income, strategic actions, and changes in net interest margin, non-interest income, and expenses [Financial Condition](index=71&type=section&id=MD%26A_Financial_Condition) Total assets grew by $441.0 million to $7.1 billion, driven by increases in cash and investment securities, while deposits grew by $458.4 million Loan Portfolio Composition (in thousands) | Loan Category | Sep 30, 2021 | Dec 31, 2020 | % Change | | :--- | :--- | :--- | :--- | | Commercial (ex-PPP) | $2,931,650 | $2,788,546 | 5.1% | | PPP loans | $76,794 | $176,106 | (56.4)% | | Commercial real estate non-owner occupied | $670,927 | $631,996 | 6.2% | | Residential real estate | $665,502 | $658,659 | 1.0% | | Consumer | $18,031 | $19,006 | (5.1)% | | **Total loans** | **$4,421,760** | **$4,353,726** | **1.6%** | Deposit Composition (in thousands) | Deposit Type | Sep 30, 2021 | Dec 31, 2020 | % Change | | :--- | :--- | :--- | :--- | | Non-interest bearing demand | $2,447,099 | $2,111,045 | 15.9% | | Total transaction deposits | $5,257,779 | $4,690,100 | 12.1% | | Total time deposits | $876,841 | $986,132 | (11.1)% | | **Total deposits** | **$6,134,620** | **$5,676,232** | **8.1%** | [Asset Quality](index=81&type=section&id=MD%26A_Asset_Quality) Asset quality remained strong with non-performing loans decreasing by 37.0% to $12.8 million, and the allowance for credit losses providing a strong coverage ratio Non-Performing Assets (in thousands) | Metric | Sep 30, 2021 | Dec 31, 2020 | | :--- | :--- | :--- | | Non-performing loans | $12,848 | $20,387 | | OREO | $4,325 | $4,730 | | **Total non-performing assets** | **$17,173** | **$25,134** | | Non-performing loans to total loans | 0.29% | 0.47% | - The company recorded a net provision release of **$9.4 million** for the nine months ended Sep 30, 2021, driven by strong asset quality and an improved economic outlook in the CECL model[242](index=242&type=chunk)[280](index=280&type=chunk) [Results of Operations](index=88&type=section&id=MD%26A_Results_of_Operations) Net income for the nine months ended September 30, 2021, was $70.8 million, driven by a provision release and lower non-interest expense, despite a narrowed net interest margin and decreased non-interest income Net Interest Margin Analysis (FTE) | Metric | Nine Months Ended Sep 30, 2021 | Nine Months Ended Sep 30, 2020 | | :--- | :--- | :--- | | Yield on earning assets | 3.14% | 3.96% | | Cost of interest bearing liabilities | 0.39% | 0.69% | | **Net Interest Margin** | **2.92%** | **3.48%** | - Non-interest income for the nine months ended Sep 30, 2021, decreased by **18.5%** YoY to **$87.1 million**, mainly due to a **33.2%** decline in mortgage banking income as refinance activity slowed[282](index=282&type=chunk) - Non-interest expense for the nine months ended Sep 30, 2021, decreased by **6.6%** YoY to **$147.3 million**, primarily due to a **$10.7 million** reduction in salaries and benefits from lower mortgage-related compensation[284](index=284&type=chunk) [Liquidity and Capital Resources](index=100&type=section&id=MD%26A_Liquidity_and_Capital_Resources) The company maintained strong liquidity with on-balance sheet liquidity increasing to $1.57 billion and capital ratios remaining well above regulatory requirements Key Capital Ratios (Consolidated) | Ratio | Sep 30, 2021 | Dec 31, 2020 | | :--- | :--- | :--- | | Tier 1 leverage ratio | 10.4% | 10.7% | | Common equity tier 1 risk based capital | 14.6% | 14.7% | | Total risk based capital ratio | 15.5% | 15.8% | - The company repurchased **527,214 shares** for **$19.4 million** during Q3 2021, with **$55.6 million** remaining available under the **$75.0 million** repurchase program authorized in February 2021[297](index=297&type=chunk) [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=68&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company's interest rate risk model indicated an asset-sensitive position, with a +100 basis point rate shock projected to increase net interest income by 6.04% Net Interest Income Sensitivity | Hypothetical Rate Shift (bps) | % Change in Projected NII (Sep 30, 2021) | | :--- | :--- | | +200 | 12.11% | | +100 | 6.04% | | -25 | (0.17)% | - The company's interest rate risk model indicated an **asset-sensitive balance sheet** as of September 30, 2021[303](index=303&type=chunk) [Item 4. Controls and Procedures](index=68&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that the company's disclosure controls and procedures were effective as of September 30, 2021, with no material changes to internal controls over financial reporting - The principal executive officer and principal financial officer concluded that the company's disclosure controls and procedures were **effective** as of September 30, 2021[309](index=309&type=chunk) - No changes were made in the company's internal controls over financial reporting during the quarter that have materially affected, or are reasonably likely to materially affect, these controls[310](index=310&type=chunk) Part II. Other Information [Legal Proceedings](index=69&type=section&id=Item%201.%20Legal%20Proceedings) The company is involved in various litigation matters incidental to its business but does not believe any current proceedings will have a material adverse effect on its financial condition or results of operations - The company is not party to any legal proceedings expected to have a **material adverse effect** on its business, financial condition, or operations[313](index=313&type=chunk) [Risk Factors](index=69&type=section&id=Item%201A.%20Risk%20Factors) There have been no material changes to the risk factors previously disclosed in the company's Annual Report on Form 10-K for the year ended December 31, 2020 - No **material changes** to the risk factors disclosed in the 2020 Form 10-K were reported[314](index=314&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=69&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) During Q3 2021, the company repurchased 528,352 shares at an average price of $36.72 per share, with $55.6 million remaining under its repurchase authorization Share Repurchase Activity (Q3 2021) | Period | Total Shares Purchased | Avg. Price Paid | Shares Purchased Under Plan | | :--- | :--- | :--- | :--- | | Aug 2021 | 230,742 | $36.84 | 229,604 | | Sep 2021 | 297,610 | $36.62 | 297,610 | | **Total Q3** | **528,352** | **$36.72** | **527,214** | - As of September 30, 2021, **$55.6 million** remained available for purchase under the **$75.0 million** stock repurchase program authorized in February 2021[316](index=316&type=chunk) [Other Information](index=69&type=section&id=Item%205.%20Other%20Information) There was no other information to report for this item during the quarter - No information was reported under this item[317](index=317&type=chunk) [Exhibits](index=70&type=section&id=Item%206.%20Exhibits) This section lists the exhibits filed with the Form 10-Q, including corporate governance documents, debt agreements, and CEO/CFO certifications - Exhibits filed include CEO/CFO certifications (31.1, 31.2, 32), agreements related to a subordinated note issuance (4.1, 10.1), and XBRL data files[320](index=320&type=chunk)

National Bank Holdings Corporation (NYSE:NBHC) Q3 2021 Earnings Conference Call October 20, 2021 11:00 AM ET Company Participants Tim Laney - President and CEO Aldis Birkans - CFO Conference Call Participants Brett Rabatin - Hovde Group Andrew Liesch - Piper Sandler Kelly Motta - KBW Andrew Terrell - Stephens Jeff Rulis - D.A. Davidson Disclaimer*: This transcript is designed to be used alongside the freely available audio recording on this page. Timestamps within the transcript are designed to help you nav ...

WASHINGTON, D.C. 20549 UNITED STATES SECURITIES AND EXCHANGE COMMISSION FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-35654 NATIONAL BANK HOLDINGS CORPORATION (I.R.S. Employer Identification No.) 7800 East Orchard Road, Suite 300, Greenwood Villa ...

Financial Data and Key Metrics Changes - For Q2 2021, the company reported net earnings of $24.2 million, or $0.77 per diluted share, with a return on average tangible assets of 1.41% and return on average tangible equity of 13.41% [7] - The annualized loan growth was 8.4% during the quarter, with loan fundings reaching $362.1 million, marking the second highest non-PPP loan production quarter in history [5][8] - Average transaction deposits increased by $347.1 million, or 28.9% annualized, with total average deposits surpassing $6 billion for the first time [11] - The fully taxable equivalent net interest margin was 2.82%, with net interest income totaling $46.1 million, including $2 million from PPP loan fees [12] Business Line Data and Key Metrics Changes - The company projected mid- to high single-digit annualized growth for its non-PPP loan book in the second half of 2021 [9] - Mortgage banking income totaled $14 million, an $8.4 million decrease from the first quarter, attributed to reduced refinancing activity and a decline in gain on sale margins [17][18] - Noninterest income for the quarter was $25.3 million, with significant growth in core banking fees and bank card revenues [14] Market Data and Key Metrics Changes - The company operates in markets that have largely recovered from the pandemic, contributing to strong loan production and credit quality [5] - The company reported a 14% decrease in nonperforming assets from the prior quarter, with net charge-offs at just 7 basis points [13] Company Strategy and Development Direction - The company is focused on growing market share and has a strong pipeline of new relationships across personal, business, and commercial banking segments [5][22] - There is a commitment to enhancing digital offerings and creating alternatives for small and medium-sized businesses [56][63] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the potential for record levels of new relationship growth in loan production during the second half of the year [22] - The company is optimistic about the economic recovery and its ability to capitalize on market opportunities [22][32] Other Important Information - The company announced a second dividend increase for the year, with the quarterly dividend now at $0.22 per share [7] - Noninterest expenses totaled $46.3 million, with a projected range of $89 million to $91 million for the second half of 2021 [19] Q&A Session Summary Question: Guidance for mortgage revenue in the second half of the year - The guidance for mortgage revenue is projected to be in the range of $20 million to $25 million, with expectations of improved gain on sale margins in Q3 [25][26] Question: Drivers of strong C&I loan growth - The strong C&I loan growth is attributed to market share growth and increased loan utilization among existing clients [31][32] Question: Reserve ratio and appropriate levels - The company aims to maintain a reserve ratio around 1%, influenced by macroeconomic conditions [39][41] Question: Timing of securities purchases - Securities were added throughout the quarter, with a focus on deploying excess cash into loans rather than increasing the securities portfolio significantly [59][60] Question: M&A strategy and focus - The company remains opportunistic regarding traditional banking M&A but is primarily focused on creating an alternative ecosystem for small and medium-sized businesses [62][63]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-35654 NATIONAL BANK HOLDINGS CORPORATION (Exact name of registrant as specified in its charter) Delaware 27-0563799 (State or o ...