Core Viewpoint - National Bank Holdings Corporation reported a decline in net income and earnings per share for the fourth quarter and the full year of 2024, primarily due to lower net interest income and a non-recurring loss from the sale of investment securities. However, the company remains optimistic about future growth opportunities and maintains strong capital ratios. Financial Performance - For Q4 2024, net income was $28.2 million or $0.73 per diluted share, down from $33.1 million or $0.86 per diluted share in Q3 2024 and $33.1 million or $0.87 per diluted share in Q4 2023 [4][17] - The full year 2024 net income totaled $118.8 million or $3.08 per diluted share, compared to $142.0 million or $3.72 per diluted share in 2023 [17] - Adjusted net income for Q4 2024, excluding the non-recurring loss, was $33.2 million or $0.86 per diluted share [6] Key Ratios - Return on average assets for Q4 2024 was 1.13%, down from 1.32% in Q3 2024 and 1.33% in Q4 2023 [4] - Return on average tangible common equity for Q4 2024 was 12.31%, compared to 14.84% in Q3 2024 [4] - The Common Equity Tier 1 capital ratio stood at 13.2% as of December 31, 2024, indicating strong capital position [3] Net Interest Income - Fully taxable equivalent net interest income increased by $2.5 million to $92.0 million in Q4 2024, driven by loan growth and disciplined deposit pricing [7] - The net interest margin widened by 12 basis points to 3.99% [7] Loan and Deposit Growth - Total loans increased by $36.6 million or 1.9% annualized to $7.8 billion at December 31, 2024, with quarterly loan fundings of $480.0 million [8][20] - Average total deposits decreased by $29.0 million to $8.4 billion during Q4 2024 [10] Asset Quality - The company recorded a provision expense for credit losses of $2.0 million in Q4 2024, consistent with the prior quarter [9] - Non-performing loans totaled 0.46% of total loans at December 31, 2024, up from 0.31% [9] Non-Interest Income and Expense - Non-interest income for Q4 2024 was $11.1 million, down from $18.4 million, primarily due to a $6.6 million non-recurring loss on AFS security sales [11] - Non-interest expense totaled $64.5 million, slightly up from $64.2 million in the prior quarter [12] Capital and Dividends - Shareholders' equity increased by $13.1 million to $1.3 billion at December 31, 2024 [14] - A quarterly cash dividend of $0.29 per share was approved, payable on March 14, 2025 [16]
National Bank Holdings Corporation Announces Quarterly Dividend, Fourth Quarter and Full Year 2024 Financial Results