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National Bank (NBHC) Financials

National Bank logo
$42.96 +0.28 (+0.66%)
Closing price 03:59 PM Eastern
Extended Trading
$42.92 -0.05 (-0.10%)
As of 05:30 PM Eastern
Extended trading is trading that happens on electronic markets outside of regular trading hours. This is a fair market value extended hours price provided by Massive. Learn more.
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Annual Income Statements for National Bank

Annual Income Statements for National Bank

This table shows National Bank's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 4.88 23 15 61 80 89 94 71 142 125 113
Consolidated Net Income / (Loss)		 4.88 23 15 61 80 89 94 71 142 119 110
Net Income / (Loss) Continuing Operations		 4.88 23 15 61 80 89 94 71 142 125 113
Total Pre-Tax Income 		7.93 26 36 74 96 109 115 86 176 145 134
Total Revenue		 178 186 186 268 289 333 298 334 426 413 419
Net Interest Income / (Expense)		 157 146 146 197 206 193 187 267 362 345 349
Total Interest Income		 171 160 164 221 243 218 201 285 495 538 520
Loans and Leases Interest Income		 131 129 137 193 219 200 182 256 461 505 475
Investment Securities Interest Income		 39 30 26 27 23 18 18 25 26 29 38
Deposits and Money Market Investments Interest Income		 0.80 0.72 1.49 1.43 0.70 0.31 0.99 3.78 4.46 2.47 5.67
Total Interest Expense		 14 15 18 24 37 25 14 18 133 193 171
Deposits Interest Expense		 14 14 16 21 30 24 14 15 109 186 165
Long-Term Debt Interest Expense		 0.85 0.85 1.94 2.91 6.97 1.43 0.22 3.26 24 6.69 5.84
Total Non-Interest Income		 21 40 39 71 83 140 110 67 64 61 68
Other Service Charges		 30 33 35 5.38 38 35 45 41 47 54 55
Net Realized & Unrealized Capital Gains on Investments		 -13 2.88 2.15 30 42 102 63 24 14 11 11
Other Non-Interest Income		 3.99 4.11 2.31 35 2.03 2.75 2.21 2.27 3.27 3.01 4.39
Provision for Credit Losses		 12 24 13 5.20 12 18 -9.29 37 8.30 6.76 18
Total Non-Interest Expense		 158 136 137 189 181 206 192 211 242 255 265
Salaries and Employee Benefits		 83 80 80 115 123 141 128 125 138 146 148
Net Occupancy & Equipment Expense		 36 29 28 39 36 37 35 44 51 57 64
Marketing Expense		 4.33 2.56 2.68 4.51 3.90 2.80 2.51 3.82 4.00 3.99 4.35
Other Operating Expenses		 24 20 22 27 22 21 24 34 42 39 40
Amortization Expense		 - 5.48 5.34 2.17 1.18 1.18 1.18 2.34 7.39 7.94 7.82
Income Tax Expense		 3.04 2.95 21 12 16 21 21 15 34 26 24
Basic Earnings per Share		 $0.14 $0.81 $0.54 $2.00 $2.57 $2.87 $3.04 $2.20 $3.74 $3.10 $2.86
Weighted Average Basic Shares Outstanding		 34.35M 28.31M 26.93M 30.75M 31.18M 30.86M 30.73M 32.36M 37.94M 38.21M 37.96M
Diluted Earnings per Share		 $0.14 $0.79 $0.53 $1.95 $2.55 $2.85 $3.01 $2.18 $3.72 $3.08 $2.85
Weighted Average Diluted Shares Outstanding		 34.36M 29.09M 27.71M 31.43M 31.53M 31.08M 31.07M 32.68M 38.11M 38.42M 38.09M
Weighted Average Basic & Diluted Shares Outstanding		 34.90M 28.50M 27M 30.86M 31.18M 30.64M 29.96M 37.61M 37.79M 38.06M 45.01M
Cash Dividends to Common per Share		 $0.20 $0.20 $0.34 $0.54 $0.75 $0.80 $0.87 $0.94 $1.04 $1.12 $1.20

Quarterly Income Statements for National Bank

This table shows National Bank's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Income / (Loss) Attributable to Common Shareholders		 36 33 31 26 33 28 24 34 35 19 21
Consolidated Net Income / (Loss)		 36 33 31 26 33 28 24 34 35 16 21
Net Income / (Loss) Continuing Operations		 36 33 31 26 33 28 24 34 35 19 21
Total Pre-Tax Income 		45 39 39 32 40 35 30 42 43 19 26
Total Revenue		 107 106 102 98 106 101 102 104 109 104 127
Net Interest Income / (Expense)		 88 90 84 84 88 90 87 87 88 86 109
Total Interest Income		 126 135 132 132 138 136 130 131 132 126 159
Loans and Leases Interest Income		 118 127 124 124 130 128 120 120 120 114 145
Investment Securities Interest Income		 7.17 7.05 7.23 7.90 7.48 7.52 8.74 10 9.99 8.24 10
Deposits and Money Market Investments Interest Income		 1.21 1.09 0.76 0.69 0.56 0.47 0.54 0.68 1.71 2.75 3.51
Total Interest Expense		 38 45 48 49 50 46 43 44 44 40 50
Deposits Interest Expense		 33 40 44 48 49 45 41 42 43 39 48
Long-Term Debt Interest Expense		 4.91 5.44 3.70 0.66 0.98 1.34 2.01 1.97 1.15 0.72 1.98
Total Non-Interest Income		 19 16 18 14 18 11 15 17 21 14 18
Other Service Charges		 14 13 14 10.00 15 15 11 14 17 13 14
Net Realized & Unrealized Capital Gains on Investments		 4.69 2.02 2.66 3.30 2.98 -4.29 3.32 2.55 2.90 2.33 2.74
Other Non-Interest Income		 0.88 0.71 0.73 0.74 0.76 0.78 0.76 0.78 0.80 2.05 0.89
Provision for Credit Losses		 1.13 4.57 0.00 2.78 2.00 1.98 10 0.00 -1.50 9.10 4.00
Total Non-Interest Expense		 61 62 63 63 64 65 62 63 67 72 97
Salaries and Employee Benefits		 35 34 37 37 37 35 34 38 38 38 57
Net Occupancy & Equipment Expense		 13 13 14 14 14 15 15 14 17 18 23
Marketing Expense		 1.04 1.01 0.96 0.78 1.09 1.15 0.95 0.97 0.95 1.48 1.50
Other Operating Expenses		 9.82 4.57 9.34 9.15 9.67 5.47 9.49 8.38 9.44 13 12
Amortization Expense		 2.01 2.01 2.01 1.98 1.98 1.98 1.98 1.95 1.95 1.95 2.46
Income Tax Expense		 9.33 5.78 7.50 5.62 6.78 6.54 5.62 7.52 7.86 3.05 5.15
Basic Earnings per Share		 $0.95 $0.87 $0.82 $0.68 $0.86 $0.74 $0.63 $0.89 $0.92 $0.42 $0.46
Weighted Average Basic Shares Outstanding		 37.99M 37.94M 38.03M 38.21M 38.28M 38.21M 38.07M 38.08M 37.91M 37.96M 44.44M
Diluted Earnings per Share		 $0.94 $0.87 $0.82 $0.68 $0.86 $0.72 $0.63 $0.88 $0.92 $0.42 $0.46
Weighted Average Diluted Shares Outstanding		 38.13M 38.11M 38.19M 38.37M 38.50M 38.42M 38.23M 38.15M 38.03M 38.09M 44.61M
Weighted Average Basic & Diluted Shares Outstanding		 75.52M 37.79M 37.83M 37.92M 38.01M 38.06M 38.09M 38.05M 37.82M 45.01M 44.79M
Cash Dividends to Common per Share		 $0.26 - $0.27 $0.28 $0.28 - $0.29 $0.30 $0.30 $0.31 $0.32

Annual Cash Flow Statements for National Bank

This table details how cash moves in and out of National Bank's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 -91 -13 105 -138 0.63 495 235 -652 -6.19 -64 289
Net Cash From Operating Activities		 -38 -3.94 58 74 44 -6.21 180 215 167 155 162
Net Cash From Continuing Operating Activities		 -38 -3.94 58 74 44 -6.21 180 215 167 155 162
Net Income / (Loss) Continuing Operations		 4.88 23 15 61 80 89 94 71 142 119 110
Consolidated Net Income / (Loss)		 4.88 23 15 61 80 89 94 71 142 119 110
Provision For Loan Losses		 12 24 13 0.37 11 18 -9.29 37 8.30 6.76 18
Depreciation Expense		 16 14 13 12 15 14 14 16 24 24 28
Amortization Expense		 4.12 3.07 2.58 2.91 2.05 3.37 4.34 1.11 -0.83 -1.35 -2.78
Non-Cash Adjustments to Reconcile Net Income		 -50 -54 -0.19 -27 -84 -132 116 99 6.74 9.31 25
Changes in Operating Assets and Liabilities, net		 -24 -14 15 24 19 1.33 -39 -10 -13 -2.45 -15
Net Cash From Investing Activities		 182 115 -179 -102 -115 -153 -474 -752 -404 65 186
Net Cash From Continuing Investing Activities		 182 115 -179 -102 -115 -153 -474 -752 -404 65 186
Purchase of Investment Securities		 -346 -291 -530 -523 -419 -530 -876 -1,399 -623 -349 -227
Divestitures		 - - - 69 - 0.00 0.00 234 -45 0.00 0.00
Sale and/or Maturity of Investments		 510 406 351 352 304 377 402 412 264 414 414
Net Cash From Financing Activities		 -236 -124 225 -109 71 654 529 -114 231 -284 -60
Net Cash From Continuing Financing Activities		 -236 -124 225 -109 71 654 529 -114 231 -284 -60
Net Change in Deposits		 -56 28 114 -174 202 939 553 -466 317 47 55
Repayment of Debt		 - -220 -173 -751 -1,571 -1,155 -0.54 - -45 -290 -50
Repurchase of Common Equity		 -175 -94 - 0.00 0.00 -19 -36 - 0.00 0.00 -15
Payment of Dividends		 -6.71 -6.40 -9.40 -17 -24 -25 -27 -30 -40 -43 -46
Other Financing Activities, Net		 2.18 -51 30 -58 -13 -33 0.09 -2.93 -1.50 1.31 -3.26
Cash Interest Paid		 14 14 17 23 34 28 17 19 124 190 168
Cash Income Taxes Paid		 -7.42 2.19 -0.13 -2.35 9.27 22 15 11 33 21 11

Quarterly Cash Flow Statements for National Bank

This table details how cash moves in and out of National Bank's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Change in Cash & Equivalents		 -33 -100 101 -148 36 -53 118 50 259 -139 56
Net Cash From Operating Activities		 48 45 30 32 47 46 40 32 52 38 -57
Net Cash From Continuing Operating Activities		 48 45 30 32 47 46 40 32 52 38 -57
Net Income / (Loss) Continuing Operations		 36 33 31 26 33 28 24 34 35 16 21
Consolidated Net Income / (Loss)		 36 33 31 26 33 28 24 34 35 16 21
Provision For Loan Losses		 1.13 4.57 0.00 2.78 2.00 1.98 10 - -1.50 9.10 4.00
Depreciation Expense		 6.14 6.34 6.02 6.00 5.86 6.31 6.33 5.92 7.59 8.27 8.96
Amortization Expense		 -0.15 -0.21 -0.20 -0.65 -0.35 -0.15 -0.48 -0.69 -0.82 -0.78 -1.19
Non-Cash Adjustments to Reconcile Net Income		 11 3.33 9.85 -5.35 12 0.08 23 -5.82 7.85 3.61 -7.44
Changes in Operating Assets and Liabilities, net		 -6.49 -2.53 -17 3.00 -5.86 10 -24 -1.09 4.00 1.82 -82
Net Cash From Investing Activities		 -30 -199 94 -62 -88 120 -127 87 207 21 47
Net Cash From Continuing Investing Activities		 -30 -199 94 -62 -88 120 -127 87 207 21 47
Purchase of Investment Securities		 -90 -247 6.46 -181 -112 -63 -221 -115 -23 270 -465
Divestitures		 - - - - - - 0.00 - - - 250
Sale and/or Maturity of Investments		 60 48 87 119 24 184 93 202 230 -249 262
Net Cash From Financing Activities		 -51 54 -23 -118 77 -220 206 -69 0.02 -197 66
Net Cash From Continuing Financing Activities		 -51 54 -23 -118 77 -220 206 -69 0.02 -197 66
Net Change in Deposits		 28 41 327 -141 120 -259 186 -155 202 -179 -39
Issuance of Debt		 - - -340 245 - - 30 - - - 150
Repayment of Debt		 2,227 - - -210 630 - 0.00 105 -185 - -2.75
Repurchase of Common Equity		 - - - - - - 0.00 - -8.80 -2.13 -16
Payment of Dividends		 -9.88 -10 -10 -11 -11 -11 -11 -12 -11 -12 -15
Other Financing Activities, Net		 -0.58 -0.62 -0.05 -1.46 2.20 0.62 1.28 -4.01 3.06 -4.16 -12
Cash Interest Paid		 33 48 45 50 46 49 43 45 40 41 48
Cash Income Taxes Paid		 8.27 8.02 0.08 13 3.59 4.43 -0.10 8.99 0.28 1.37 0.18

Annual Balance Sheets for National Bank

This table presents National Bank's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Total Assets		 4,684 4,573 4,843 5,677 5,896 6,660 7,214 9,573 9,951 9,808 9,884
Cash and Due from Banks		 156 153 193 109 110 605 845 196 191 128 417
Trading Account Securities		 1,598 1,241 1,119 1,027 821 1,061 1,352 1,447 1,304 1,061 1,180
Loans and Leases, Net of Allowance		 0.00 0.00 0.00 -36 4,376 4,294 4,464 7,131 7,601 7,657 7,346
Loans and Leases		 - - - - 4,415 4,354 4,513 7,220 7,699 7,751 7,433
Allowance for Loan and Lease Losses		 - - - 36 39 60 50 90 98 94 87
Loans Held for Sale		 - - - 48 117 248 139 23 19 24 26
Premises and Equipment, Net		 103 96 94 110 112 107 97 136 163 197 215
Goodwill		 60 60 60 115 115 115 115 279 306 306 306
Intangible Assets		 12 6.95 1.61 13 11 18 12 60 66 58 48
Other Assets		 2,745 3,017 3,312 4,290 232 212 4,653 302 301 377 346
Total Liabilities & Shareholders' Equity		 4,684 4,573 4,843 5,677 5,896 6,660 7,214 9,573 9,951 9,808 9,884
Total Liabilities		 4,066 4,037 4,311 4,982 5,129 5,839 6,374 8,481 8,738 8,503 8,498
Non-Interest Bearing Deposits		 815 847 902 1,072 1,185 2,111 2,506 3,135 2,361 2,214 2,204
Interest Bearing Deposits		 3,026 3,022 3,077 3,464 3,552 3,565 3,722 4,738 5,829 6,024 6,088
Short-Term Debt		 137 92 130 66 57 23 23 20 20 19 17
Long-Term Debt		 40 39 129 302 208 0.00 39 439 394 105 55
Other Long-Term Liabilities		 49 38 72 78 127 140 83 149 134 141 134
Total Equity & Noncontrolling Interests		 618 536 532 695 767 821 840 1,092 1,213 1,305 1,385
Total Preferred & Common Equity		 618 536 532 695 767 821 840 1,092 1,213 1,305 1,385
Total Common Equity		 618 536 532 695 767 821 840 1,092 1,213 1,305 1,385
Common Stock		 998 985 971 1,015 1,010 1,012 1,015 1,160 1,163 1,168 1,172
Retained Earnings		 39 55 61 107 164 223 290 331 433 509 572
Treasury Stock		 -420 -502 -493 -416 -409 -424 -458 -310 -307 -302 -315
Accumulated Other Comprehensive Income / (Loss)		 0.10 -1.76 -6.24 -11 2.06 9.77 -6.96 -88 -76 -70 -44

Quarterly Balance Sheets for National Bank

This table presents National Bank's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026
Period end date 9/30/2022 3/31/2023 6/30/2023 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026
Total Assets		 7,923 9,917 9,872 9,866 9,967 9,971 9,993 10,099 9,999 10,153 12,614
Cash and Due from Banks		 255 369 324 291 293 145 181 246 296 556 473
Trading Account Securities		 1,401 1,454 1,368 1,309 1,330 1,319 1,319 1,417 1,430 1,302 1,363
Loans and Leases, Net of Allowance		 5,656 7,255 7,322 7,385 7,471 7,626 7,619 7,556 7,398 7,341 9,498
Loans and Leases		 5,722 7,345 7,414 7,478 7,569 7,722 7,714 7,646 7,487 7,430 9,611
Allowance for Loan and Lease Losses		 66 90 93 93 98 96 95 90 89 88 113
Loans Held for Sale		 33 25 25 19 14 19 17 12 21 22 25
Premises and Equipment, Net		 106 140 148 154 169 177 192 205 209 211 236
Goodwill		 168 279 306 306 306 306 306 306 306 306 455
Intangible Assets		 31 59 75 68 64 62 60 54 52 50 67
Other Assets		 272 7,591 305 334 320 317 298 302 285 364 498
Total Liabilities & Shareholders' Equity		 7,923 9,917 9,872 9,866 9,967 9,971 9,993 10,099 9,999 10,153 12,614
Total Liabilities		 7,003 8,783 8,725 8,703 8,736 8,723 8,701 8,770 8,646 8,778 10,950
Non-Interest Bearing Deposits		 2,736 2,921 2,629 2,483 2,293 2,229 2,269 2,215 2,169 2,255 2,573
Interest Bearing Deposits		 4,068 4,661 5,492 5,666 6,225 6,147 6,228 6,209 6,101 6,216 7,886
Short-Term Debt		 20 21 21 20 20 19 20 21 19 21 17
Long-Term Debt		 40 1,054 439 371 54 89 54 135 239 55 202
Other Long-Term Liabilities		 140 126 143 163 144 237 130 190 119 230 272
Total Equity & Noncontrolling Interests		 919 1,134 1,147 1,164 1,232 1,248 1,292 1,329 1,352 1,375 1,665
Total Preferred & Common Equity		 919 1,134 1,147 1,164 1,232 1,248 1,292 1,329 1,352 1,375 1,665
Total Common Equity		 919 1,134 1,147 1,164 1,232 1,248 1,292 1,329 1,352 1,375 1,665
Common Stock		 1,080 1,161 1,159 1,161 1,164 1,162 1,165 1,169 1,168 1,170 1,455
Retained Earnings		 323 361 384 410 454 470 492 522 544 568 579
Treasury Stock		 -395 -310 -307 -307 -306 -304 -302 -302 -304 -313 -320
Accumulated Other Comprehensive Income / (Loss)		 -89 -79 -89 -101 -80 -80 -62 -60 -56 -51 -48

Annual Metrics And Ratios for National Bank

This table displays calculated financial ratios and metrics derived from National Bank's official financial filings.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Growth Metrics		 - - - - - - - - - - -
Profitability Metrics		 - - - - - - - - - - -
Valuation Ratios		 - - - - - - - - - - -
Leverage & Solvency		 - - - - - - - - - - -
Liquidity Ratios		 - - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - - -
Efficiency Ratios		 - - - - - - - - - - -
Capital & Investment Metrics		 - - - - - - - - - - -
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.14 $0.81 $0.54 $2.00 $2.57 $2.87 $3.04 $2.20 $3.74 $3.10 $2.86
Adjusted Weighted Average Basic Shares Outstanding		 34.35M 28.31M 26.93M 30.75M 31.18M 30.86M 30.73M 32.36M 37.94M 38.21M 37.96M
Adjusted Diluted Earnings per Share		 $0.14 $0.79 $0.53 $1.95 $2.55 $2.85 $3.01 $2.18 $3.72 $3.08 $2.85
Adjusted Weighted Average Diluted Shares Outstanding		 34.36M 29.09M 27.71M 31.43M 31.53M 31.08M 31.07M 32.68M 38.11M 38.42M 38.09M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 29.46M 26.61M 30.31M 30.86M 31.18M 30.64M 29.96M 37.61M 37.79M 38.06M 45.01M
Debt Service Ratios		 - - - - - - - - - - -
Payout Ratios		 - - - - - - - - - - -

Quarterly Metrics And Ratios for National Bank

This table displays calculated financial ratios and metrics derived from National Bank's official financial filings.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
DEI Shares Outstanding		 - - - - - - - - - - 45,013,622.00
DEI Adjusted Shares Outstanding		 - - - - - - - - - - 45,013,622.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - - - 0.46
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 23.94% -3.33% -7.15% -5.80% -1.03% -4.09% 0.34% 7.04% 2.69% - 23.97%
EBITDA Growth		 116.70% 77.78% -19.24% -20.76% -11.70% -9.20% -20.16% 26.05% 9.96% - -6.26%
EBIT Growth		 128.98% 97.73% -22.78% -22.42% -12.19% -10.73% -23.25% 30.84% 8.19% - -13.91%
NOPAT Growth		 127.84% 98.08% -22.07% -19.73% -8.26% -14.91% -22.81% 30.18% 6.59% - -14.19%
Net Income Growth		 127.84% 98.08% -22.07% -19.73% -8.26% -14.91% -22.81% 30.18% 6.59% - -14.19%
EPS Growth		 88.00% 112.20% -22.64% -20.00% -8.51% -17.24% -23.17% 29.41% 6.98% - -26.98%
Operating Cash Flow Growth		 -10.72% 33.06% 259.39% -65.68% -2.39% 4.05% 32.27% 1.33% 11.56% - -243.42%
Free Cash Flow Firm Growth		 -456.06% 93.32% 143.10% 139.88% 141.12% 636.25% -116.55% -179.25% -122.42% - -144.66%
Invested Capital Growth		 58.81% 4.86% -40.90% -15.63% -12.14% -12.18% 13.71% 18.72% 6.22% - 26.90%
Revenue Q/Q Growth		 3.41% -1.47% -3.64% -4.05% 8.65% -4.52% 0.81% 2.36% 4.23% - 21.68%
EBITDA Q/Q Growth		 9.75% -12.39% -0.71% -17.00% 22.30% -9.92% -12.69% 31.04% 6.69% - 11.81%
EBIT Q/Q Growth		 10.97% -14.34% -0.03% -18.35% 25.60% -12.93% -14.04% 39.18% 3.85% - 14.53%
NOPAT Q/Q Growth		 10.84% -8.22% -5.22% -16.74% 26.67% -14.86% -14.03% 40.41% 3.71% - 29.66%
Net Income Q/Q Growth		 10.84% -8.22% -5.22% -16.74% 26.67% -14.86% -14.03% 40.41% 3.71% - 29.66%
EPS Q/Q Growth		 10.59% -7.45% -5.75% -17.07% 26.47% -16.28% -12.50% 39.68% 4.55% - 9.52%
Operating Cash Flow Q/Q Growth		 -48.26% -7.26% -32.87% 6.55% 47.15% -1.14% -14.66% -18.38% 61.99% - -249.33%
Free Cash Flow Firm Q/Q Growth		 22.44% 92.18% 2,315.02% -70.32% -20.02% 2.00% -168.36% -42.12% 77.38% - -2,931.68%
Invested Capital Q/Q Growth		 -3.30% 4.62% -19.73% 3.89% 0.70% 4.58% 3.93% 8.47% -9.90% - 29.31%
Profitability Metrics		 - - - - - - - - - - -
EBITDA Margin		 47.97% 42.66% 43.95% 38.02% 42.80% 40.38% 34.97% 44.77% 45.83% - 26.44%
EBIT Margin		 42.39% 36.85% 38.23% 32.53% 37.61% 34.30% 29.25% 39.76% 39.62% - 20.31%
Profit (Net Income) Margin		 33.68% 31.38% 30.86% 26.78% 31.22% 27.84% 23.74% 32.56% 32.40% - 16.43%
Tax Burden Percent		 79.46% 85.14% 80.72% 82.31% 83.01% 81.16% 81.18% 81.89% 81.78% - 80.15%
Interest Burden Percent		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% - 100.96%
Effective Tax Rate		 20.54% 14.86% 19.28% 17.69% 16.99% 18.84% 18.82% 18.11% 18.22% - 19.85%
Return on Invested Capital (ROIC)		 11.42% 8.41% 7.34% 7.44% 8.78% 7.41% 6.92% 9.08% 9.59% - 4.33%
ROIC Less NNEP Spread (ROIC-NNEP)		 11.42% 8.41% 7.34% 7.44% 8.78% 7.41% 6.92% 9.08% 9.59% - 4.33%
Return on Net Nonoperating Assets (RNNOA)		 2.47% 3.18% 3.57% 1.77% 1.66% 1.58% 0.62% 1.28% 0.54% - 0.54%
Return on Equity (ROE)		 13.89% 11.59% 10.91% 9.21% 10.45% 8.99% 7.54% 10.37% 10.13% - 4.87%
Cash Return on Invested Capital (CROIC)		 -35.53% 4.20% 58.99% 25.51% 21.40% 20.75% -4.82% -9.06% 2.61% - -17.41%
Operating Return on Assets (OROA)		 2.05% 1.61% 1.61% 1.35% 1.56% 1.41% 1.19% 1.65% 1.64% - 0.79%
Return on Assets (ROA)		 1.63% 1.37% 1.30% 1.11% 1.29% 1.15% 0.96% 1.35% 1.34% - 0.64%
Return on Common Equity (ROCE)		 13.89% 11.59% 10.91% 9.21% 10.45% 8.99% 7.54% 10.37% 10.13% - 4.87%
Return on Equity Simple (ROE_SIMPLE)		 10.80% 0.00% 10.81% 10.16% 9.58% 0.00% 8.40% 8.84% 8.85% - 6.38%
Net Operating Profit after Tax (NOPAT)		 36 33 31 26 33 28 24 34 35 - 21
NOPAT Margin		 33.68% 31.38% 30.86% 26.78% 31.22% 27.84% 23.74% 32.56% 32.40% - 16.43%
Net Nonoperating Expense Percent (NNEP)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
SG&A Expenses to Revenue		 45.53% 45.96% 50.62% 53.23% 49.52% 51.07% 49.52% 50.35% 51.30% - 64.77%
Operating Expenses to Revenue		 56.56% 58.82% 61.77% 64.62% 60.51% 63.75% 60.76% 60.24% 61.76% - 76.53%
Earnings before Interest and Taxes (EBIT)		 45 39 39 32 40 35 30 42 43 - 26
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 51 45 45 37 45 41 36 47 50 - 33
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 0.94 1.13 1.10 1.18 1.24 1.25 1.10 1.06 1.07 - 1.06
Price to Tangible Book Value (P/TBV)		 1.38 1.62 1.57 1.68 1.72 1.74 1.50 1.44 1.44 - 1.54
Price to Revenue (P/Rev)		 2.53 3.21 3.23 3.58 3.88 4.03 3.58 3.46 3.53 - 3.97
Price to Earnings (P/E)		 8.66 9.61 10.15 11.66 12.90 13.78 13.04 11.99 12.08 - 16.10
Dividend Yield		 3.53% 2.88% 2.96% 2.77% 2.61% 2.60% 2.98% 3.08% 3.05% - 3.14%
Earnings Yield		 11.54% 10.41% 9.85% 8.58% 7.75% 7.26% 7.67% 8.34% 8.28% - 6.21%
Enterprise Value to Invested Capital (EV/IC)		 0.76 0.98 0.87 1.06 1.09 1.14 0.92 0.87 0.68 - 0.80
Enterprise Value to Revenue (EV/Rev)		 2.77 3.73 2.71 3.50 3.62 4.01 3.36 3.37 2.38 - 3.40
Enterprise Value to EBITDA (EV/EBITDA)		 6.64 8.00 6.02 8.08 8.65 9.71 8.58 8.26 5.72 - 9.43
Enterprise Value to EBIT (EV/EBIT)		 7.60 9.04 6.90 9.30 9.97 11.24 10.02 9.55 6.64 - 11.36
Enterprise Value to NOPAT (EV/NOPAT)		 9.46 11.18 8.50 11.37 12.04 13.74 12.23 11.66 8.14 - 14.22
Enterprise Value to Operating Cash Flow (EV/OCF)		 7.63 9.51 5.25 9.32 9.71 10.51 8.28 8.43 5.80 - 22.88
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 23.80 1.09 3.81 4.77 5.15 0.00 0.00 27.00 - 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.34 0.34 0.06 0.09 0.06 0.09 0.12 0.19 0.06 - 0.13
Long-Term Debt to Equity		 0.32 0.33 0.04 0.07 0.04 0.08 0.10 0.18 0.04 - 0.12
Financial Leverage		 0.22 0.38 0.49 0.24 0.19 0.21 0.09 0.14 0.06 - 0.13
Leverage Ratio		 8.54 8.47 8.41 8.29 8.09 7.85 7.83 7.68 7.55 - 7.59
Compound Leverage Factor		 8.54 8.47 8.41 8.29 8.09 7.85 7.83 7.68 7.55 - 7.66
Debt to Total Capital		 25.16% 25.44% 5.66% 8.02% 5.41% 8.64% 10.46% 16.01% 5.24% - 11.63%
Short-Term Debt to Total Capital		 1.30% 1.21% 1.50% 1.44% 1.43% 1.32% 1.40% 1.15% 1.47% - 0.90%
Long-Term Debt to Total Capital		 23.86% 24.23% 4.16% 6.59% 3.99% 7.32% 9.07% 14.87% 3.77% - 10.73%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
Common Equity to Total Capital		 74.84% 74.56% 94.34% 91.98% 94.59% 91.36% 89.54% 83.99% 94.76% - 88.37%
Debt to EBITDA		 2.19 2.08 0.39 0.61 0.43 0.73 0.98 1.53 0.44 - 1.37
Net Debt to EBITDA		 0.56 1.12 -1.17 -0.20 -0.62 -0.03 -0.57 -0.23 -2.77 - -1.58
Long-Term Debt to EBITDA		 2.07 1.98 0.29 0.50 0.32 0.62 0.85 1.42 0.32 - 1.26
Debt to NOPAT		 3.11 2.91 0.55 0.86 0.60 1.04 1.39 2.16 0.62 - 2.06
Net Debt to NOPAT		 0.79 1.57 -1.65 -0.29 -0.86 -0.04 -0.81 -0.32 -3.94 - -2.39
Long-Term Debt to NOPAT		 2.95 2.78 0.41 0.71 0.44 0.88 1.21 2.00 0.45 - 1.90
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -540 -42 935 277 222 226 -155 -220 -50 - -379
Operating Cash Flow to CapEx		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
Free Cash Flow to Firm to Interest Expense		 -14.08 -0.93 19.60 5.68 4.41 4.93 -3.58 -5.02 -1.13 - -7.52
Operating Cash Flow to Interest Expense		 1.26 0.99 0.63 0.65 0.93 1.01 0.92 0.74 1.19 - -1.13
Operating Cash Flow Less CapEx to Interest Expense		 1.26 0.99 0.63 0.65 0.93 1.01 0.92 0.74 1.19 - -1.13
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.05 0.04 0.04 0.04 0.04 0.04 0.04 0.04 0.04 - 0.04
Fixed Asset Turnover		 3.31 2.85 2.70 2.53 2.38 2.26 2.18 2.14 2.07 - 2.02
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 1,555 1,627 1,306 1,356 1,366 1,428 1,485 1,610 1,451 - 1,884
Invested Capital Turnover		 0.34 0.27 0.24 0.28 0.28 0.27 0.29 0.28 0.30 - 0.26
Increase / (Decrease) in Invested Capital		 576 75 -904 -251 -189 -198 179 254 85 - 399
Enterprise Value (EV)		 1,189 1,588 1,132 1,441 1,489 1,632 1,365 1,394 991 - 1,509
Market Capitalization		 1,089 1,365 1,352 1,477 1,596 1,637 1,456 1,433 1,470 - 1,763
Book Value per Share		 $30.85 $32.12 $32.39 $32.98 $34.07 $34.33 $34.93 $35.50 $36.14 - $36.99
Tangible Book Value per Share		 $20.92 $22.26 $22.65 $23.24 $24.41 $24.74 $25.46 $26.09 $26.77 - $25.39
Total Capital		 1,555 1,627 1,306 1,356 1,366 1,428 1,485 1,610 1,451 - 1,884
Total Debt		 391 414 74 109 74 123 155 258 76 - 219
Total Long-Term Debt		 371 394 54 89 54 105 135 239 55 - 202
Net Debt		 100 223 -219 -36 -107 -4.44 -91 -39 -480 - -254
Capital Expenditures (CapEx)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
Net Nonoperating Expense (NNE)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
Net Nonoperating Obligations (NNO)		 391 414 74 109 74 123 155 258 76 - 219
Total Depreciation and Amortization (D&A)		 5.98 6.13 5.82 5.36 5.51 6.16 5.85 5.23 6.76 - 7.76
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.95 $0.87 $0.82 $0.68 $0.86 $0.74 $0.63 $0.89 $0.92 $0.42 $0.46
Adjusted Weighted Average Basic Shares Outstanding		 37.99M 37.94M 38.03M 38.21M 38.28M 38.21M 38.07M 38.08M 37.91M 37.96M 44.44M
Adjusted Diluted Earnings per Share		 $0.94 $0.87 $0.82 $0.68 $0.86 $0.72 $0.63 $0.88 $0.92 $0.42 $0.46
Adjusted Weighted Average Diluted Shares Outstanding		 38.13M 38.11M 38.19M 38.37M 38.50M 38.42M 38.23M 38.15M 38.03M 38.09M 44.61M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 75.52M 37.79M 37.83M 37.92M 38.01M 38.06M 38.09M 38.05M 37.82M 45.01M 44.79M
Normalized Net Operating Profit after Tax (NOPAT)		 36 33 31 26 33 28 24 34 35 - 21
Normalized NOPAT Margin		 33.68% 31.38% 30.86% 26.78% 31.22% 27.84% 23.74% 32.56% 32.40% - 16.43%
Pre Tax Income Margin		 42.39% 36.85% 38.23% 32.53% 37.61% 34.30% 29.25% 39.76% 39.62% - 20.50%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 1.18 0.86 0.82 0.65 0.79 0.76 0.69 0.95 0.98 - 0.51
NOPAT to Interest Expense		 0.94 0.73 0.66 0.53 0.66 0.61 0.56 0.78 0.80 - 0.41
EBIT Less CapEx to Interest Expense		 1.18 0.86 0.82 0.65 0.79 0.76 0.69 0.95 0.98 - 0.51
NOPAT Less CapEx to Interest Expense		 0.94 0.73 0.66 0.53 0.66 0.61 0.56 0.78 0.80 - 0.41
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 30.90% 27.91% 30.36% 32.55% 34.01% 36.14% 39.33% 37.35% 37.27% - 46.65%
Augmented Payout Ratio		 30.90% 27.91% 30.36% 32.55% 34.01% 36.14% 39.33% 37.35% 37.27% - 76.13%

Financials Breakdown Chart

Key Financial Trends

National Bank Holdings Corp (NYSE: NBHC) showed a solid first quarter in 2026, with earnings and core revenue improving versus both the prior quarter and the same period last year. However, the balance sheet also showed some meaningful changes in funding mix and leverage that investors should watch closely.

What stood out in Q1 2026

  • Net income attributable to common shareholders rose to $20.8 million in Q1 2026, up from $16.0 million in Q4 2025 and $24.2 million in Q1 2025, showing a rebound from the prior quarter.
  • Diluted EPS held at $0.46, compared with $0.42 in Q4 2025, indicating improving profitability per share.
  • Net interest income increased to $108.8 million from $86.2 million in Q4 2025, helped by stronger earning assets and better revenue generation.
  • Total revenue increased to $126.5 million, up from $104.0 million in Q4 2025.
  • Provision for credit losses was only $4.0 million, down sharply from $9.1 million in Q4 2025, suggesting less pressure from expected loan losses.
  • Quarterly cash generation improved materially, with $55.7 million of net cash added versus a $138.5 million cash outflow in Q4 2025.
  • Loan balances grew to $9.61 billion from $7.43 billion at Q3 2025, indicating continued balance sheet expansion.
  • Deposits increased in Q1 2026, with non-interest-bearing deposits up to $2.57 billion and interest-bearing deposits up to $7.89 billion, which supports funding capacity.
  • The bank maintained a meaningful cash position of $472.8 million and held $1.36 billion in trading account securities, giving it liquidity flexibility.
  • Book equity improved to $1.66 billion from $1.37 billion in Q3 2025, though the change was helped by seasonal and capital activity.

Trends over the last several years

NBHC has generally shown a pattern of stable profitability, strong net interest income, and regular cash generation, with quarterly net income often landing in the $15 million to $35 million range over the past several years. Revenue has also remained fairly consistent, while earnings have benefited from a sizable loan book and a healthy spread between loan income and deposit costs.

At the same time, the company has experienced meaningful swings in deposits, debt, and liquidity. Deposits moved lower in some quarters and higher in others, and the bank has used debt issuance and repayment to manage funding needs. That is not unusual for a regional bank, but it does mean investors should watch the funding mix and deposit stability closely.

Credit quality signals look generally manageable from the data provided. Provision expense has varied over time, but Q1 2026 was relatively light compared with some prior quarters, and the allowance for loan losses remained in place at $113.5 million. That said, loan growth can raise the need for future provisioning if the credit environment weakens.

Key takeaways for investors

  • Earnings momentum improved in Q1 2026 after a softer Q4 2025.
  • Net interest income remains the main driver of profitability.
  • Cash flow turned strongly positive after a weak prior quarter.
  • Balance sheet growth is evident, but so is heavier reliance on funding management.
  • Tangible credit risk looks manageable from the latest quarter, but continued loan growth warrants monitoring.
  • Operating cash flow was still negative at -$56.8 million in Q1 2026, indicating that core operations did not fully convert accounting profit into cash this quarter.
  • Interest-bearing deposits remain a major funding source, so rising deposit costs could pressure margins if rates stay elevated.
  • The bank carries notable goodwill and intangible assets, which can weigh on book value quality.
  • Loan growth was strong, but rapid expansion can increase future credit risk if underwriting loosens or the economy slows.

Bottom line: NBHC’s latest quarter looks constructive, with better earnings, stronger net interest income, and improved cash flow. The main watch items are deposit funding costs, loan growth quality, and whether the bank can sustain this earnings improvement without sacrificing credit discipline.

06/10/26 09:48 PM ETAI Generated. May Contain Errors.

National Bank Financials - Frequently Asked Questions

According to the most recent income statement we have on file, National Bank's fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

National Bank's net income appears to be on an upward trend, with a most recent value of $109.57 million in 2025, rising from $4.88 million in 2015. The previous period was $118.82 million in 2024. Check out National Bank's forecast to explore projected trends and price targets.

Over the last 10 years, National Bank's total revenue changed from $178.39 million in 2015 to $419.42 million in 2025, a change of 135.1%.

National Bank's total liabilities were at $8.50 billion at the end of 2025, a 0.0% decrease from 2024, and a 109.0% increase since 2015.

In the past 10 years, National Bank's cash and equivalents has ranged from $109.06 million in 2018 to $845.20 million in 2021, and is currently $417.06 million as of their latest financial filing in 2025.


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Financial statements for NYSE:NBHC last updated on 5/8/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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