National Bank (US:NBHC)2025-10-29 20:35Financial Performance - Net income for the three months ended September 30, 2025, was $35.285 million, up from $33.105 million in the same period of 2024, reflecting a year-over-year increase of 6.6%[19] - For the nine months ended September 30, 2025, net income increased to $93,538,000 compared to $90,631,000 for the same period in 2024, reflecting a growth of 2.1%[27] - Earnings per share (basic) for the three months ended September 30, 2025, was $0.92, compared to $0.86 for the same period in 2024, representing a growth of 7.0%[19] - Comprehensive income for the three months ended September 30, 2025, was $40.226 million, down from $51.045 million in the same period of 2024, a decrease of 21.2%[21] - Total non-interest income for the three months ended September 30, 2025, was $20.691 billion, an increase of 12.6% compared to $18.389 billion for the same period in 2024[105] Asset and Liability Management - Total assets increased to $10,152.686 million as of September 30, 2025, compared to $9,807.693 million on December 31, 2024, representing a growth of 3.5%[17] - Total liabilities increased to $8,777.757 million as of September 30, 2025, from $8,502.618 million on December 31, 2024, indicating a growth of 3.2%[17] - Total deposits rose to $8,471.680 million as of September 30, 2025, from $8,237.893 million on December 31, 2024, marking an increase of 2.8%[17] - Cash and cash equivalents at the end of the period increased to $555,560,000 as of September 30, 2025, compared to $180,796,000 at the same time in 2024[27] Credit Quality and Loan Performance - The allowance for credit losses decreased to $88.280 million as of September 30, 2025, from $94.455 million on December 31, 2024, showing a reduction of 6.9%[17] - The provision for credit loss expense for the nine months ended September 30, 2025, was $8,700,000, up from $4,776,000 in 2024, indicating a significant increase of 82.5%[27] - The total past due loans increased from $74,098 million on December 31, 2024, to $53,123 million on September 30, 2025, indicating a reduction in delinquency[60] - The total non-accrual loans as of September 30, 2025, were $26,715 million, with $16,495 million having a related allowance for credit loss[59] - The company’s internal risk rating system categorizes loans into grades such as "Pass," "Special mention," "Substandard," and "Doubtful," reflecting the credit quality assessment[61] Investment Securities - The company's investment securities portfolio totaled $1.3 billion as of September 30, 2025, an increase from $1.0 billion at December 31, 2024[36] - Available-for-sale securities amounted to $612.7 million as of September 30, 2025, with unrealized losses of $69.0 million[37] - Held-to-maturity investment securities totaled $630.8 million as of September 30, 2025, with unrealized losses of $61.2 million[44] - The total fair value of held-to-maturity investment securities was $356.5 million with unrealized losses of $61.2 million as of September 30, 2025, compared to a total fair value of $448.1 million with unrealized losses of $81.8 million at December 31, 2024[45] Shareholder Returns and Stock Activity - The company reported a common stock dividend of $0.30 for the three months ended September 30, 2025, compared to $0.28 in the same period of 2024, an increase of 7.1%[19] - The Company repurchased 240,000 shares during the period, resulting in a treasury stock reduction of $8,804,000[27] - The remaining authorization under the stock repurchase program as of September 30, 2025, was $37.0 million[117] Capital and Regulatory Compliance - The Company met all capital requirements under Basel III, with a consolidated total risk-based capital ratio of 16.6% as of September 30, 2025, exceeding the required 10.5% for well-capitalized institutions[97] - The Company had loans pledged as collateral for FHLB advances amounting to $2.5 billion as of September 30, 2025[90] Derivatives and Hedging Activities - The Company reported interest rate swaps designated as fair value hedges with a notional amount of $352.1 million as of September 30, 2025, compared to $348.5 million as of December 31, 2024[126] - The cumulative amount of fair value hedge adjustments included in the carrying amount of hedged assets was $(17.5) million as of September 30, 2025, down from $(28.7) million as of December 31, 2024[127] - For the three months ended September 30, 2025, the Company recognized a total loss of $(901) thousand on derivatives in hedging relationships, compared to a loss of $(12,000) thousand for the same period in 2024[133] Miscellaneous - The company operates over 90 banking centers primarily located in Colorado and the greater Kansas City region, with services also available through online and mobile banking[28] - Goodwill as of September 30, 2025, was $306.0 million, with no impairment recorded during the three or nine months ended September 30, 2025[77] - The fair value of total assets measured at fair value as of September 30, 2025, was $667,309, compared to $591,337 as of December 31, 2024, representing an increase of approximately 12.8%[157]