- Grew organic loan production for the seventh consecutive quarter, resulting in growth in our strategic loan portfolio.
- Grew average non-interest bearing demand deposit balances 8.5% annualized, leading to growth in average transaction balances.
- Lowered the cost of deposits by 10 basis points.
- Added $14.8 million to accretable yield for the acquired loans accounted for under ASC 310-30 and took $3.7 million in impairments.
- Tangible book value per share of $19.30 before consideration of the excess accretable yield value of $0.56 per share.
- Non-performing loans improved to 1.94% of total loans at September 30, 2012 from 2.49% at June 30, 2012.
- Approximately $375 million in excess strategic capital (above 10% Tier 1 Leverage), which positions us for future growth opportunities.
- Completed the integration of our acquisitions to a single operating platform.
National Bank Holdings Corporation (NYSE: NBHC) reported a net loss of $7.9 million, or $0.15 per diluted share for the third quarter of 2012. Excluding $10.8 million of after tax costs related to the successful initial public offering (IPO), net income for the third quarter of 2012 was $2.9 million, or $0.06 per diluted share, compared to second quarter 2012 net income of $2.7 million, or $0.05 per share. Tangible book value per share grew in the third quarter of 2012 to $19.30 as compared to $19.29 at June 30, 2012. “During the third quarter we were pleased to have achieved a key corporate milestone with the successful completion of our IPO by listing on the New York Stock Exchange,” said President and Chief Executive Officer Tim Laney. “I am pleased to report that we increased our loan production for the seventh consecutive quarter, grew our strategic loan balances, grew our non-interest bearing demand deposit balances and banking fee revenues while maintaining our focus on maximizing the returns on the acquired problem loans portfolio and managing expenses.” Third Quarter 2012 Highlights