DENVER, Sept. 16, 2022 (GLOBE NEWSWIRE) — National Bank Holdings Corporation (NYSE: NBHC, “NBH” or the “Company”) at the moment introduced it has now obtained all regulatory approvals from the Federal Reserve Board, the Wyoming Division of Banking, and the Colorado Division of Banking for the beforehand introduced acquisition of Bancshares of Jackson Hole Incorporated, the holding firm for Bank of Jackson Hole with operations in Wyoming and Idaho. The acquisition is topic to customary closing circumstances and is predicted to shut in early October 2022.
The transaction provides roughly $1.7 billion in complete belongings, together with $1.1 billion in complete loans, $1.5 billion in complete deposits, and $676 million in belongings underneath administration as of June 30, 2022. When mixed with the beforehand introduced closing of the Community Bancorporation acquisition, the Company expects to have roughly $9.7 billion in pro-forma belongings, together with $6.5 billion in complete loans and $8.5 billion in complete deposits as of June 30, 2022 throughout the enticing markets of Wyoming, Idaho, Utah, Colorado, Texas, Kansas, Missouri, and New Mexico. The methods conversion is scheduled for the fourth quarter 2022 and stays on observe.
About National Bank Holdings Corporation
National Bank Holdings Corporation is a financial institution holding firm created to construct a number one group financial institution franchise delivering top quality consumer service and dedicated to stakeholder outcomes. Through its financial institution subsidiary, NBH Bank, National Bank Holdings Corporation operates a community of 86 banking facilities, serving particular person customers, small, medium and enormous companies, and authorities and non-profit entities. Its banking facilities are situated in its core footprint of Colorado, the larger Kansas City area, Texas, Utah and New Mexico. Its complete residential mortgage banking group primarily serves the financial institution’s core footprint. NBH Bank operates underneath a single state constitution via the next model names as divisions of NBH Bank: in Colorado, Community Banks of Colorado and Community Banks Mortgage; in Kansas and Missouri, Bank Midwest and Bank Midwest Mortgage; and in Texas, Utah and New Mexico, Hillcrest Bank and Hillcrest Bank Mortgage. For the just lately acquired banking facilities in Utah, NBH Bank will function as Rock Canyon Bank till integration. Additional details about National Bank Holdings Corporation could be discovered at www.nationalbankholdings.com.
For extra info go to: cobnks.com, bankmw.com, hillcrestbank.com or nbhbank.com. Or, comply with us on any of our social media websites:
Community Banks of Colorado: fb.com/cobnks, twitter.com/cobnks, instagram.com/cobnks;
Bank Midwest: fb.com/bankmw, twitter.com/bank_mw, instagram.com/bankmw;
Hillcrest Bank: fb.com/hillcrestbank, twitter.com/hillcrest_bank;
NBH Bank: twitter.com/nbhbank;
or join with any of our manufacturers on LinkedIn.
Forward-Looking Statements
This press launch incorporates “forward-looking statements” inside the which means of the Private Securities Litigation Reform Act of 1995. Forward-looking statements comprise phrases akin to “anticipate,” “believe,” “can,” “would,” “should,” “could,” “may,” “predict,” “seek,” “potential,” “will,” “estimate,” “target,” “plan,” “project,” “continuing,” “ongoing,” “expect,” “intend” or related expressions that relate to the Company’s technique, plans or intentions. Forward-looking statements contain sure essential dangers, uncertainties and different components, any of which might trigger precise outcomes to vary materially from these in such statements. Such components embrace, with out limitation, the “Risk Factors” referenced in our most up-to-date Form 10-Okay filed with the Securities and Exchange Commission (SEC), different dangers and uncertainties listed on occasion in our experiences and paperwork filed with the SEC, and the next components: capability to acquire regulatory approvals and meet different closing circumstances to the mergers on the anticipated phrases and schedule; delay in closing the mergers; difficulties and delays in integrating the NBHC, Community Bancorporation, and Bancshares of Jackson Hole Incorporated companies or totally realizing value financial savings and different advantages; business disruption following the proposed transactions; capability to execute our business technique; business and financial circumstances; results of any potential authorities shutdowns; financial, market, operational, liquidity, credit score and rate of interest dangers related to the Company’s business; results of any adjustments in commerce, financial and monetary insurance policies and legal guidelines; adjustments imposed by regulatory businesses to extend capital requirements; results of inflation, in addition to, rate of interest, securities market and financial provide fluctuations; adjustments within the economy or supply-demand imbalances affecting native actual property values; adjustments in client spending, borrowings and financial savings habits; with respect to our mortgage business, the lack to barter charges with traders for the acquisition of our loans or our obligation to indemnify purchasers or repurchase associated loans; the Company’s capability to establish potential candidates for, consummate, combine and notice working efficiencies from, acquisitions, consolidations and different growth alternatives; the Company’s capability to comprehend anticipated advantages from enhancements or updates to its core working methods on occasion with out vital change in consumer service or threat to the Company’s management setting; the Company’s dependence on info expertise and telecommunications methods of third-party service suppliers and the danger of methods failures, interruptions or breaches of safety; the Company’s capability to realize natural mortgage and deposit progress and the composition of such progress; adjustments in sources and makes use of of funds; elevated competitors within the monetary companies business; the impact of adjustments in accounting insurance policies and practices; the share value of the Company’s inventory; the Company’s capability to comprehend deferred tax belongings or the necessity for a valuation allowance; the results of tax laws, together with the potential of future will increase to prevailing tax guidelines, or challenges to our place; continued consolidation within the monetary companies business; capability to take care of or enhance market share and management bills; prices and results of adjustments in legal guidelines and laws and of different authorized and regulatory developments; technological adjustments; the well timed growth and acceptance of recent services, together with within the digital expertise area our digital answer 2UniFi; the Company’s continued capability to draw, rent and keep certified personnel; capability to implement and/or enhance operational administration and different inside threat controls and processes and reporting system and procedures; regulatory limitations on dividends from the Company’s financial institution subsidiary; adjustments in estimates of future credit score reserve necessities based mostly upon the periodic evaluate thereof underneath related regulatory and accounting necessities; widespread pure and different disasters, pandemics, dislocations, political instability, acts of warfare or terrorist actions, cyberattacks or worldwide hostilities; a cybersecurity incident, knowledge breach or a failure of a key info expertise system; opposed results as a result of novel Coronavirus Disease 2019 (COVID-19) on the Company and its purchasers, counterparties, workers, and third-party service suppliers, and the opposed impacts on our business, monetary place, outcomes of operations, and prospects; impression of reputational threat; and success at managing the dangers concerned within the foregoing gadgets. The Company can provide no assurance that any purpose or plan or expectation set forth in forward-looking statements could be achieved and readers are cautioned to not place undue reliance on such statements. The forward-looking statements are made as of the date of this press launch, and the Company doesn’t intend, and assumes no obligation, to replace any forward-looking assertion to mirror occasions or circumstances after the date on which the assertion is made or to mirror the prevalence of unanticipated occasions or circumstances, besides as required by relevant legislation.
Contact:
Analysts/Institutional Investors: Aldis Birkans, Chief Financial Officer, (720) 554-6640, [email protected]
Media: Jody Soper, Chief Marketing Officer, (303) 784-5925, [email protected]
