National Bank Holdings (NBHC) Company Report

For the nine months ended September 30, 2025, Vista Bancshares Inc. reported net income of $22,482 thousand, an increase from $17,500 thousand in the prior year period.
Total assets as of September 30, 2025, were $2,540,123 thousand, with total deposits at $2,215,180 thousand and total stockholders' equity at $250,359 thousand.
The company recorded a $13,612 thousand gain on the sale of a branch for the nine months ended September 30, 2025, which contributed to noninterest income.
The provision for credit losses significantly increased to $11,128 thousand for the nine months ended September 30, 2025, compared to $2,680 thousand for the same period in 2024.

2 days ago

8-K

National Bank Holdings Corporation Details Vista Acquisition and Q3 2025 Performance

NBHC

M&A

Earnings

Share Buyback

National Bank Holdings Corporation (NBHC) filed an 8-K on February 4, 2026, for an investor presentation to be made on or after February 5, 2026, detailing its recent acquisition and Q3 2025 financial results.
The acquisition of Vista Bancshares, Inc., valued at approximately $377.4 million, closed on January 7, 2026. Pro forma for this acquisition, the combined company had approximately $12.6 billion in assets and $10.7 billion in deposits as of September 30, 2025.
For Q3 2025, NBHC reported standalone adjusted net income of $36.6 million ($0.96 per diluted share), an adjusted return on average tangible assets of 1.60%, and a net interest margin (FTE) of 3.98%.
As of September 30, 2025, NBHC maintained a standalone tangible common equity to tangible assets ratio of 10.57% and executed $8.8 million of share buybacks during Q3 2025.

2 days ago

8-K

National Bank Holdings Corporation Reports Q4 and Full-Year 2025 Results, Provides 2026 Guidance, and Discusses Vista Acquisition

NBHC

Earnings

Guidance Update

M&A

National Bank Holdings Corporation (NBHC) reported a 10% growth in tangible book per share and a CET1 capital ratio of 14.89% for the full year 2025. The full-year net interest margin was 3.94%, with December's margin returning to 3.97%.
Excluding one-time items, Q4 2025 net income was $22.7 million or $0.60 diluted EPS, and adjusted full-year 2025 net income totaled $117.6 million or $3.06 diluted EPS. The fourth quarter included $4.1 million in after-tax acquisition costs and a $2.6 million after-tax loss from a strategic securities sale.
The Vista Bank acquisition closed, adding approximately $2.4 billion in earning assets and bringing the combined loan portfolio to about $9.4 billion. The 2UniFi project completed its pilot phase one, with a goal to secure a partnership in 2026 to reduce its investment run rate.
For 2026, NBHC projects approximately 10% loan growth, a fully taxable equivalent net interest margin around 4%, total non-interest income between $75 million and $80 million, and non-interest expense between $320 million and $330 million. The company anticipates EPS over $1 in Q4 2026 and over $4 in 2027.
A $100 million share buyback authorization was announced and is considered a priority.

Jan 28, 2026, 4:00 PM

Transcript

National Bank Holdings Corporation Reports Q4 and Full-Year 2025 Results and Provides 2026-2027 Guidance

NBHC

Earnings

Guidance Update

M&A

National Bank Holdings Corporation (NBHC) reported Q4 2025 adjusted net income of $22.7 million or $0.60 per diluted share, and full-year 2025 adjusted net income of $117.6 million or $3.06 per diluted share.
For 2026, NBHC projects approximately 10% loan growth, a fully taxable equivalent net interest margin around 4%, total non-interest income between $75 million and $80 million, and non-interest expense between $320 million and $330 million. The company anticipates Q4 2026 earnings in excess of $1 per share.
The company expects full-year 2027 earnings to exceed $4 per share.
The recent Vista acquisition added approximately $2.4 billion of earning assets, resulting in a combined loan portfolio of approximately $9.4 billion at the start of 2026.
The 2UniFi platform completed its phase one build, with 2026 projections for revenue contribution of $2 million-$4 million and flat expenses at $22 million. The company is also exploring a partnership to potentially reduce NBH's 2UniFi investment run rate.

Jan 28, 2026, 4:00 PM

Transcript

National Bank Holdings Corporation Reports Q4 2025 Results and Provides 2026 Guidance

NBHC

Earnings

Guidance Update

M&A

National Bank Holdings Corporation (NBHC) reported Q4 2025 adjusted net income of $22.7 million and adjusted diluted earnings per share (EPS) of $0.60, with full-year 2025 adjusted net income totaling $117.6 million and EPS of $3.06.
The company successfully closed the Vista acquisition, which added approximately $2.4 billion in earning assets, and projects 10% loan growth for 2026 from a combined loan portfolio of approximately $9.4 billion.
For 2026, NBHC forecasts a fully taxable equivalent net interest margin (NIM) to remain around 4%, and expects 2UniFi revenue between $2 million and $4 million, while holding 2UniFi expenses flat at $22 million.
Credit quality improved during 2025, with the non-performing asset ratio ending the year at a low 36 basis points of total loans and the criticized loan ratio improving by 73 basis points.

Jan 28, 2026, 4:00 PM

Transcript

NBHC Announces Q4 and Full Year 2025 Financial Results, Dividend Increase, and New Share Repurchase Program

NBHC

Earnings

Dividends

Share Buyback

National Bank Holdings Corporation (NBHC) reported Q4 2025 net income of $16.0 million and diluted EPS of $0.42, with full-year 2025 net income of $109.6 million and diluted EPS of $2.85. Adjusted diluted EPS for Q4 2025 was $0.60 and for the full year 2025 was $3.06.
The Board of Directors declared a quarterly cash dividend of $0.32 per share, an increase of 3.2%, payable on March 13, 2026, to shareholders of record as of February 27, 2026.
A new stock repurchase program was authorized for up to $100.0 million of common stock, replacing the previous program under which $15.2 million was repurchased in 2025.
NBHC's tangible common book value per share increased 10.0% to $27.80, and the Common Equity Tier 1 capital ratio reached 14.89% at December 31, 2025.

Jan 27, 2026, 9:14 PM

8-K

National Bank Holdings Corporation Announces Q4 and Full Year 2025 Financial Results

NBHC

Earnings

Dividends

M&A

National Bank Holdings Corporation reported net income of $16.0 million and diluted earnings per share of $0.42 for Q4 2025, and net income of $109.6 million and diluted earnings per share of $2.85 for the full year 2025.
The company announced a 3.2% increase in its quarterly cash dividend to $0.32 per share and a new $100 million share repurchase authority , while growing tangible common book value per share by 10.0% and increasing the common equity tier 1 capital ratio to 14.89%.
NBHC successfully completed the acquisition of Vista Bancshares, Inc. and originated $1.6 billion in new loans during 2025, including $591.0 million in Q4 2025.

Jan 27, 2026, 9:10 PM

Press Release

National Bank Holdings Corporation Completes Vista Bancshares Acquisition

NBHC

M&A

Board Change

National Bank Holdings Corporation (NBHC) completed its acquisition of Vista Bancshares, Inc. and Vista Bank on January 7, 2026.
Following the acquisition, NBHC now has approximately $12.6 billion in pro forma assets and $10.7 billion in pro forma deposits, based on September 30, 2025 financials.
The total transaction value was approximately $377.4 million, with Vista shareholders receiving 3.1161 shares of NBHC Class A common stock and $31.62 in cash per share, and owning approximately 16% of NBHC shares on a fully diluted basis.
This acquisition expands NBHC's footprint into the high-growth Dallas-Ft. Worth, Austin, and Palm Beach markets, and the Vista Bank brand will be incorporated across the entire enterprise later in 2026.
Kirk A. McLaughlin, a former director of Vista, joined NBHC's Board of Directors, increasing the board size to 10 directors.

Jan 7, 2026, 11:06 AM

8-K

National Bank Holdings Corporation Completes Acquisition of Vista Bancshares, Inc.

NBHC

M&A

New Projects/Investments

National Bank Holdings Corporation (NBHC) successfully completed its acquisition of Vista Bancshares, Inc. on January 7, 2026.
The acquisition results in NBHC having approximately $12.6 billion in pro forma assets and $10.7 billion in pro forma deposits, based on September 30, 2025 financials.
The total transaction value is approximately $377.4 million, with Vista shareholders owning approximately 16% of NBHC shares on a fully diluted basis.
This acquisition expands NBHC's footprint into the high-growth Dallas-Ft. Worth, Austin, and Palm Beach markets.
The combined organization will begin adopting the Vista Bank brand in Texas immediately, with enterprise-wide adoption later in 2026 (excluding Bank of Jackson Hole), and systems integration scheduled for the third quarter of 2026.

Jan 7, 2026, 11:00 AM

Press Release

National Bank Holdings Corporation Receives Regulatory Approvals for Vista Bancshares Acquisition

NBHC

M&A

New Projects/Investments

National Bank Holdings Corporation (NBHC) has received all required regulatory approvals from the Board of Governors of the Federal Reserve System and the Colorado Division of Banking for its merger with Vista Bancshares, Inc..
Vista Bancshares, Inc. shareholders approved the transaction on December 19, 2025.
The Mergers are anticipated to close on January 7, 2026, with the systems conversion scheduled for the third quarter of 2026.
As of September 30, 2025, the acquisition of Vista Bancshares, Inc. will add approximately $2.5 billion in assets, $1.9 billion in loans, and $2.2 billion in deposits to NBHC.
Upon completion, the combined company is projected to have approximately $12.6 billion in pro forma assets and $10.7 billion in pro forma deposits as of September 30, 2025.

Dec 23, 2025, 10:15 PM

8-K

Earnings Transcripts

Quarterly earnings call transcripts for National Bank Holdings.

Q4 2025

Jan 28, 2026

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Q3 2025

Oct 22, 2025

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