Daniel L. Sznewajs
About Daniel L. Sznewajs
Daniel L. Sznewajs, age 46, is NBHC’s Chief Corporate Development Officer (since January 2025) and Treasurer; he also joined the boards of NBH Bank and Bank of Jackson Hole Trust in January 2025. He joined NBHC in 2014 and has led financial planning & analysis, capital markets, and NBH Ventures; prior roles include Vice President in Goldman Sachs’ Financial Institutions Group and Commissioned Examiner at the Federal Reserve Bank of Chicago. He holds an MBA and a Bachelors in Finance and Strategy . Company performance context for 2024: diluted EPS $3.08 ($3.22 adjusted), ROAA 1.20% (1.36% adjusted tangible), Q4 net interest margin 3.99% (FTE), cost of funds 2.27%, average deposits +$374.4M (+4.7%), tangible book value per share +11%, CET1 13.20%, adjusted efficiency ratio 58.69% .
| 2024 Performance Metrics | Value |
|---|---|
| Diluted EPS ($) | 3.08 |
| Adjusted Diluted EPS ($) | 3.22 |
| ROAA (%) | 1.20 |
| Adjusted Tangible ROAA (%) | 1.36 |
| Q4 2024 Net Interest Margin (FTE, %) | 3.99 |
| Cost of Funds (%) | 2.27 |
| Avg. Deposits YoY ($MM, %) | $374.4; +4.7% |
| Tangible Book Value/Share YoY (%) | +11% |
| CET1 Ratio (%) | 13.20 |
| Adjusted Efficiency Ratio (%) | 58.69 |
| 3-year Relative TSR (2022–2024) Percentile | 36th |
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| National Bank Holdings Corporation | FP&A, Capital Markets, NBH Ventures leadership | 2014–2025 | Built planning rigor, capital markets execution, and venture initiatives |
| Goldman, Sachs & Co. | Vice President, Financial Institutions Group | ~5 years | FIG transaction advisory; deep capital markets expertise |
| Federal Reserve Bank of Chicago | Commissioned Examiner (Safety & Soundness) | Not disclosed | Capital markets supervision; regulatory credibility |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Young Americans Education Foundation and Young Americans Bank | Advisory Board Member | Not disclosed | Community financial education engagement; local stakeholder ties |
Fixed Compensation
- Daniel-specific base salary, target bonus %, and 2025 equity grant details are not disclosed in the 2025 proxy. NBHC sets executive base and STIP targets annually, with HoldCo executives’ short-term incentives weighted 70% quantitative (Core Net Income, Asset Quality) and 30% qualitative (ERM/Doing Good, individual performance) .
Performance Compensation
- NBHC’s current executive incentive architecture comprises annual cash STIP and long-term equity (PSUs and time-based restricted stock). PSUs have a 3-year performance period and settle in 2027 following committee certification; time-based restricted stock typically vests in equal annual tranches over 3 years. All outstanding unvested equity awards have double-trigger acceleration upon change in control .
2024 STIP Design and Outcomes (HoldCo Executives Program)
| Metric | Weighting | Threshold | Target | Maximum | Actual | Payout Scale |
|---|---|---|---|---|---|---|
| Core Net Income ($000s) | 40% | 102,129 | 120,152 | 126,160 | 124,395 | 50% / 100% / 150% |
| Non-Performing Assets Ratio | 30% | 0.80% | 0.65% | 0.50% | 0.47% | 50% / 100% / 150% |
| ERM & Doing Good (Qualitative) | 15% | 80% | 100% | 120% | 115% | 50% / 100% / 150% |
| Individual (Qualitative) | 15% | 80% | 100% | 120% | 80–120% (by NEO) | 50% / 100% / up to 200%* |
| Note | *200% possible for exceptional individual results |
2024 PSU Award Structure (3-year performance period ending 12/31/2026)
| Performance Metric | Award Weight | Threshold | Target | Maximum | Equity Payout at Threshold/Target/Max |
|---|---|---|---|---|---|
| Cumulative Adjusted EPS ($) | 33% | 8.44 | 9.93 | 10.43 | 50% / 100% / 150% |
| Relative ROTA (vs S&P 600 Regional Banks) | 33% | 35th percentile | 50th percentile | 75th percentile | 50% / 100% / 150%; cap at target if NBHC ROTA negative in any year |
| 3-year Relative TSR (vs S&P 600 Regional Banks) | 33% | 35th percentile | 50th percentile | 75th percentile | 50% / 100% / 150%; cap at target if NBHC TSR negative |
| Vesting/Settlement | Settles after committee certification in 2027 (following the 3-year period) |
Equity Ownership & Alignment
- Insider Trading Policy prohibits hedging and short sales; designated persons (including executive officers) are prohibited from pledging or hypothecating NBHC securities. Pre-clearance and blackout periods apply; policy is attached to NBHC’s 2024 Form 10-K .
- Executive stock ownership guidelines require minimum multiples of salary for specified roles (CEO 5x, President 4x, CFO 3x, CRMO 2x, CAO 2x); executives not yet at threshold must retain 50% of after-tax vested shares/options until compliant. Role-specific thresholds for Chief Corporate Development Officer are not specified; compliance status for Daniel is not disclosed .
Employment Terms
- Company-wide features for executive officers include: clawback in employment agreements and equity award agreements for misconduct and restatements; NYSE/SEC-compliant compensation recovery policy adopted in 2023; no tax gross-ups on change-in-control payments; prohibition on option repricing; all outstanding unvested equity awards have double-trigger acceleration upon change in control .
- Daniel-specific employment agreement terms (severance multiples, change-of-control triggers, non-compete/non-solicit details) are not disclosed in the 2025 proxy .
Investment Implications
- Role-driven exposure: As CCDO and Treasurer, Daniel is positioned at the center of capital markets, corporate development, and M&A. NBHC executed a merger agreement with Vista in September 2025, with detailed employee matters and benefits continuity through end-2026—corporate development activity is ongoing and material to franchise trajectory .
- Compensation alignment: NBHC’s incentives tie to Core Net Income, asset quality, ERM/Doing Good, and long-term EPS/ROTA/TSR—structures that balance growth with credit discipline; double-trigger equity and robust clawbacks reduce misalignment risk .
- Trading signals: Executive time-based RSU grants typically begin vesting in late April each year and PSUs settle post-3-year periods (2026/2027); monitor vesting calendars and blackout periods for potential liquidity events, noting NBHC’s strict anti-hedging/anti-pledging policy materially dampens insider selling pressure .
- Governance and shareholder sentiment: 2024 say-on-pay support of 97.7% and an updated, tech-forward compensation peer group (Axos, Triumph, etc.) indicate investor acceptance of pay-for-performance design and evolving strategy emphasis .