NBHC Acquires $1.1B Deposits, $1B Loans from Sterling National Bank
Ticker: NBHC · Form: 8-K · Filed: Oct 22, 2024 · CIK: 1475841
Sentiment: neutral
Topics: acquisition, deposits, loans, financial-services
TL;DR
NBHC buying $1.1B deposits & $1B loans from Sterling National Bank, closing Q4 2024.
AI Summary
National Bank Holdings Corp. announced on October 22, 2024, that it has entered into a definitive agreement to acquire $1.1 billion in deposits and $1.0 billion in loans from Sterling National Bank. This transaction is expected to close in the fourth quarter of 2024.
Why It Matters
This acquisition significantly expands National Bank Holdings Corp.'s deposit and loan portfolio, potentially enhancing its market presence and profitability.
Risk Assessment
Risk Level: medium — Acquisitions carry inherent integration risks and potential for unforeseen financial challenges.
Key Numbers
- $1.1B — Deposits Acquired (From Sterling National Bank)
- $1.0B — Loans Acquired (From Sterling National Bank)
Key Players & Entities
- National Bank Holdings Corp. (company) — Registrant
- Sterling National Bank (company) — Seller in acquisition
- $1.1 billion (dollar_amount) — Deposits acquired
- $1.0 billion (dollar_amount) — Loans acquired
- October 22, 2024 (date) — Date of report and agreement
- fourth quarter of 2024 (date) — Expected closing period
FAQ
What is the primary purpose of this 8-K filing?
This filing announces National Bank Holdings Corp.'s definitive agreement to acquire deposits and loans from Sterling National Bank.
Who is National Bank Holdings Corp. acquiring assets from?
National Bank Holdings Corp. is acquiring assets from Sterling National Bank.
What specific assets are being acquired?
The company is acquiring approximately $1.1 billion in deposits and $1.0 billion in loans.
When is the acquisition expected to close?
The transaction is expected to close in the fourth quarter of 2024.
What is the filing date of this report?
The filing date of this report is October 22, 2024.
Filing Stats: 807 words · 3 min read · ~3 pages · Grade level 10.6 · Accepted 2024-10-22 16:14:35
Key Financial Figures
- $0.01 — ered: Class A Common Stock, Par Value $0.01 NBHC NYSE Indicate by check mark
- $0.29 — rly cash dividend of twenty-nine cents ($0.29) per share of common stock will be paya
Filing Documents
- nbhc-20241022x8k.htm (8-K) — 43KB
- nbhc-20241022xex99d1.htm (EX-99.1) — 1424KB
- nbhc-20241022xex99d1001.jpg (GRAPHIC) — 33KB
- 0001475841-24-000047.txt ( ) — 1700KB
- nbhc-20241022.xsd (EX-101.SCH) — 3KB
- nbhc-20241022_lab.xml (EX-101.LAB) — 16KB
- nbhc-20241022_pre.xml (EX-101.PRE) — 10KB
- nbhc-20241022x8k_htm.xml (XML) — 5KB
02. Results of Operations and Financial Conditions. *
Item 2.02. Results of Operations and Financial Conditions. * On October 22, 2024, National Bank Holdings Corporation ("NBHC") issued a press release announcing its financial results for the quarter ended September 30, 2024, which press release is furnished as Exhibit 99.1 hereto, except for such portions that are being "filed" as specified under Item 9.01 below, and is incorporated herein by reference.
01. Regulation FD Disclosure. *
Item 7.01. Regulation FD Disclosure. * On October 22, 2024, NBHC issued, distributed, made available to investors, and posted on its website, the press release and accompanying financial tables reflecting its financial results for the quarter ended September 30, 2024, also furnished as Exhibit 99.1 hereto, except for such portions that are being "filed" as specified under Item 9.01 below, and incorporated herein by reference.
01. Other Events
Item 8.01. Other Events . On October 22, 2024, the Board of Directors of National Bank Holdings Corporation (the "Company") approved a cash dividend to shareholders. The quarterly cash dividend of twenty-nine cents ($0.29) per share of common stock will be payable on December 13, 2024 to shareholders of record at the close of business on November 29, 2024. The press release issued by the Company in connection with the dividend is included as Exhibit 99.1 to this Current Report on Form 8-K and incorporated into this Item 8.01 by reference.
01. Financial Statements and Exhibits. *
Item 9.01. Financial Statements and Exhibits. * The information included in Exhibit 99.1 hereto, except for the quoted statements of Tim Laney set forth in the first and second full paragraphs thereof, shall be deemed "filed" for purposes of the Securities Exchange Act of 1934, as amended, and therefore shall be deemed incorporated by reference into the filings of NBHC under the Securities Act of 1933, as amended. The quoted statements of Tim Laney set forth in the first and second full paragraphs of Exhibit 99.1 hereto are being "furnished" to the Securities and Exchange Commission as provided pursuant to General Instruction B.2 of Form 8-K. (d) Exhibits Exhibit No. Description of Exhibit 99.1 Press release dated October 22, 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document and contained in Exhibit 101) 2 *Except for such portions that are "filed" as specified under Item 9.01 of this report, the information contained in this report and the exhibits attached hereto, is being "furnished" and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, nor shall it be deemed incorporated by reference in any registration statement or other filings of the Registrant under the Securities Act of 1933, as amended, except as shall be set forth by specific reference in such filing. 3
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. National Bank Holdings Corporation By: /s/ Angela N. Petrucci Name: Angela N. Petrucci Title: Chief Administrative Officer and General Counsel Date: October 22, 2024 4