olivLaw · US equity research
National Bank Holdings Corporation NBHC
National Commercial Banks · SIC 6021 · Vertical: National Commercial Banks (SIC 6021)
NBHC is a regional bank holding company headquartered in Colorado that provides commercial and consumer banking through NBH Bank and Bank of Jackson Hole Trust across Colorado, Kansas, Missouri, Texas, Utah, Wyoming, New Mexico and Idaho. After the January 2026 Vista acquisition, total assets reached $12.6 billion at June 30, 2026, making the company more relevant to investors tracking regional consolidation.
The AI analysis may be outdated: new filings came after its sources (see the «AI analysis» section).
At the close of 05 Nov 2026, National Bank Holdings Corporation (NBHC) stock was 37.23 USD (−2.56% on the day), with market capitalisation 1.6 bn USD, P/E 29.5 on diluted EPS of 1.26 USD over the last 12 months, dividend yield 3.41%, beta 0.76, 52-week range 35.59–47.08 USD. Latest reported quarter (Q3 2026): revenue of 12.3 m USD (+9.4% YoY), net income of -8.8 m USD (−124.8% YoY), diluted EPS -0.20 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 40.4
- weak (30–45)
- Bollinger (20, 2)
- 36.80 – 39.12
- in the lower half of the band · %B 0.18 · band width 6.1%
- SMA 50 / 200
- 39.40 / 41.28
- downtrend (price < SMA50 < SMA200)
- MACD (12, 26, 9)
- -0.45 / -0.49
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | −2.7% | −1.1% | −1.6 pp | — |
| 3 months | −13.1% | −0.5% | −12.7 pp | — |
| 6 months | −13.0% | +4.4% | −17.4 pp | — |
| Year to date | −2.1% | +12.3% | −14.4 pp | — |
| 1 year | +2.4% | +13.5% | −11.2 pp | +17.5% |
| 3 years | +16.5% | +76.4% | −60.0 pp | +72.1% |
| 5 years | −17.1% | +63.7% | −80.8 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q3 2026 · 30 Sept 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | Q3 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 11.2 m | 10.8 m | 11.1 m | 11.3 m | 13.9 m | 11.3 m | 11.9 m | 12.3 m |
| Depreciation & amortisation | 6.3 m | 6.3 m | 5.9 m ≈ | 7.6 m ≈ | 8.3 m | 9.0 m | 11.1 m ≈ | 10.3 m ≈ |
| Pre-tax income | 34.7 m | 29.9 m | 41.5 m | 43.1 m | 19.1 m | 25.9 m | 32.6 m | -12.0 m |
| Income tax | 6.5 m | 5.6 m | 7.5 m | 7.9 m | 3.1 m | 5.2 m | 6.1 m | -3.2 m |
| Net income | 28.2 m | 24.2 m | 34.0 m | 35.3 m | 16.0 m | 20.8 m | 26.5 m | -8.8 m |
| Diluted EPS | 0.73 ≈ | 0.63 | 0.88 | 0.92 | 0.42 ≈ | 0.46 | 0.58 | -0.20 |
| Operating cash flow | 46.4 m | 39.6 m | 32.3 m ≈ | 52.4 m ≈ | 38.1 m | -56.8 m | 135.1 m ≈ | 66.1 m ≈ |
| Dividends paid | 11.1 m | 11.3 m | 11.5 m ≈ | 11.4 m ≈ | 11.8 m | 14.7 m | 14.5 m ≈ | 14.4 m ≈ |
| Share repurchases | — | — | — | 8.8 m ≈ | 2.1 m | 16.1 m | 11.1 m ≈ | 11.9 m ≈ |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 85 percentile of its own 40-quarter history (min 9.1, median 13.9, max 67.9; quarters with earnings only).
Fiscal years
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | unavailable | unavailable | 32.4 m | 36.2 m | 38.3 m | 46.9 m | 45.8 m | 47.1 m |
| Revenue YoY | unavailable | unavailable | unavailable | +11.8% | +5.7% | +22.5% | −2.4% | +2.9% |
| Net income | 61.5 m | 80.4 m | 88.6 m | 93.6 m | 71.3 m | 142.0 m | 118.8 m | 109.6 m |
| Net income YoY | +321.5% | +30.8% | +10.2% | +5.7% | −23.9% | +99.3% | −16.4% | −7.8% |
| Diluted EPS | 1.95 | 2.55 | 2.85 | 3.01 | 2.18 | 3.72 | 3.08 | 2.85 |
| Diluted EPS YoY | +267.9% | +30.8% | +11.8% | +5.6% | −27.6% | +70.6% | −17.2% | −7.5% |
| net % | unavailable | unavailable | 273.5% | 258.3% | 186.1% | 302.8% | 259.5% | 232.6% |
| Free cash flow | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 417.1 m USD
- Financial debt
- 54.5 m USD
- Net debt
- -362.5 m USD
- Equity
- 1.4 bn USD
- Total assets
- 9.9 bn USD
- Debt / equity
- 0.04x
- Current ratio
- unavailable
- ROE
- 8.1%
- ROA
- 1.1%
- FCF margin
- unavailable
Financial statements (source on every figure)
Revenue and net income (USD)
Income statement · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Net interest income | 192.9 m | 187.1 m | 266.8 m | 362.0 m | 345.4 m | 348.5 m | SEC (XBRL)· 24 Feb 2026verified |
| Net fee income | 140.3 m | 110.4 m | 67.3 m | 63.9 m | 61.2 m | 67.6 m | SEC (XBRL)· 24 Feb 2026verified |
| Non-interest expense | 206.2 m | 191.8 m | 211.2 m | 242.0 m | 254.6 m | 264.6 m | SEC (XBRL)· 24 Feb 2026verified |
| Pre-tax income | 109.4 m | 115.0 m | 86.2 m | 175.6 m | 145.2 m | 133.6 m | SEC (XBRL)· 24 Feb 2026verified |
| Net income | 88.6 m | 93.6 m | 71.3 m | 142.0 m | 118.8 m | 109.6 m | SEC (XBRL)· 24 Feb 2026verified |
| Diluted EPS | 2.85 | 3.01 | 2.18 | 3.72 | 3.08 | 2.85 | SEC (XBRL)· 24 Feb 2026verified |
| Dividend per share | 0.80 | 0.87 | 0.94 | 1.04 | 1.12 | 1.20 | SEC (XBRL)· 24 Feb 2026verified |
Balance sheet · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 605.6 m | 845.7 m | 195.5 m | 190.8 m | 127.8 m | 417.1 m | SEC (XBRL)· 24 Feb 2026verified |
| Loans | 4.4 bn | 4.5 bn | 7.2 bn | 7.6 bn | 7.7 bn | 7.3 bn | SEC (XBRL)· 24 Feb 2026verified |
| Total assets | 6.7 bn | 7.2 bn | 9.6 bn | 10.0 bn | 9.8 bn | 9.9 bn | SEC (XBRL)· 24 Feb 2026verified |
| Deposits | 5.7 bn | 6.2 bn | 7.9 bn | 8.2 bn | 8.2 bn | 8.3 bn | SEC (XBRL)· 24 Feb 2026verified |
| Long-term debt | — | 39.5 m | 53.9 m | 54.2 m | 54.5 m | 54.5 m | SEC (XBRL)· 24 Feb 2026verified |
| Total liabilities | 5.8 bn | 6.4 bn | 8.5 bn | 8.7 bn | 8.5 bn | 8.5 bn | SEC (XBRL)· 24 Feb 2026verified |
| Equity | 820.7 m † | 840.1 m † | 1.1 bn † | 1.2 bn † | 1.3 bn † | 1.4 bn † | SEC (XBRL)· 24 Feb 2026verified |
† equity attributable to the parent's shareholders: in these years the issuer no longer reports the total including non-controlling interests.
Cash flow · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Dividends paid | 24.8 m | 26.9 m | 30.4 m | 39.6 m | 42.9 m | 46.1 m | SEC (XBRL)· 24 Feb 2026verified |
| Share repurchases | 19.5 m | 36.4 m | — | — | — | 15.2 m | SEC (XBRL)· 24 Feb 2026verified |
Computed indicators
Growth
Profitability
Returns
Market and valuation
Banking
32 indicators that do not apply to the sector.
Valuation
olivLaw classification
Score: 37 / 100
A scoring methodology on indicators and valuation, not investment advice.
score < 40
Closing price
05 Nov 2026Source: olivLaw, closing series
Market cap: 1.6 bn USD
Key indicators
Coverage and freshness
Score by group
- Returns79
- Growth75
- Balance sheet18
- Valuation39
- Quality16
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 5.37 – 51.95 USD.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- Residual income31.77 – 33.17 (Mid 32.46)
- Justified P/B5.37 – 7.22 (Mid 6.16)
- Dividend discount (DDM)15.77 – 21.21 (Mid 18.09)
- Peers: P/E13.83 – 15.42 (Mid 14.78)30 companies used · median multiple 11.7x · quartiles 11.0x – 12.2xASRV, BAC, CAC, CASH, CBU, CFBK, CFR, COF, FHN, FULT, FUNC, HAFC, HBAN, JPM, KEY, LCNB, MRBK, NBTB, NKSH, ONB, PNC, RF, SFST, SHBI, TBBK, USB, WAFD, WFC, WSFS, ZION
- Peers: P/B37.87 – 51.95 (Mid 44.31)33 companies used · median multiple 1.2x · quartiles 1.0x – 1.4xASRV, BAC, BANC, C, CAC, CARE, CASH, CBU, CFBK, COF, FHN, FULT, FUNC, HAFC, HBAN, KEY, LCNB, MRBK, NBTB, NKSH, ONB, PNC, PRK, RF, SFST, SHBI, SNUS-PH, UBS, USB, WAFD, WFC, WSFS, ZION
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Unattractive profile · Score 37/100
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROE · Quality | 3.6% | 3 (vs peers) | 19% |
| ROA · Quality | 0.5% | 5 (on a fixed band) | 7% |
| Cost-to-income · Quality | 75.0% | 0 (on a fixed band) | 12% |
| Net interest margin · Quality | 3.6% | 86 (on a fixed band) | 7% |
| EPS CAGR 3Y · Growth | 9.3% | 78 (on a fixed band) | 10% |
| Revenue CAGR 3Y · Growth | 7.1% | 71 (on a fixed band) | 7% |
| NPL ratio · Balance sheet | unavailable | unavailable | — |
| Cost of risk · Balance sheet | unavailable | unavailable | — |
| Loan-to-deposit · Balance sheet | 92.8% | 18 (on a fixed band) | 5% |
| P/B · Valuation | 1.0x | 78 (vs peers) | 12% |
| P/E (TTM) · Valuation | 29.5x | 0 (vs peers) | 12% |
| Dividend yield · Returns | 3.4% | 79 (vs peers) | 10% |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet· partial18/100 · 1/3 factors with a value
- Growth75/100 · 2/2 factors with a value
- Quality16/100 · 4/4 factors with a value
- Returns79/100 · 1/1 factors with a value
- Valuation39/100 · 2/2 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
NATIONAL BANK HOLDINGS CORP (NBHC). Latest full fiscal year: 2025; data up to 2026-09-30.
Figures computed from the financial statements: net interest income 348.5 m USD in 2025; YoY growth 2.9%; net margin 110.1%; ROE 3.6%.
The estimated value range is 15.77–21.21 USD per share (median of 5 methods, agreement: low); assumptions are illustrative. Against the central value of 18.09 USD, the price of 37.23 USD leaves a potential of -51.4% (value / price − 1) and a margin of safety of -105.8% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
olivLaw score 37/100, methodological classification: unattractive profile (score, margin of safety and method agreement together; not a judgement of the right price). Groups assessed only in part: balance. Not investment advice.
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- Net interest margin: 3.6%
- EPS CAGR 3Y: 9.3%
- Revenue CAGR 3Y: 7.1%
- P/B: 1.0x
- Dividend yield: 3.4%
What contradicts it
- ROE: 3.6%
- ROA: 0.5%
- Cost-to-income: 75.0%
- Loan-to-deposit: 92.8%
- P/E (TTM): 29.5x
- The price is above the estimated value range
- The valuation methods diverge
Not assessed (insufficient data or a ratio without meaning): NPL ratio, Cost of risk.
Versus the vertical median
National Commercial Banks (SIC 6021) · same industry (4-digit SIC) · compared with 39 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| JPMJpmorgan Chase & Co | 935.1 bn | 14.7 | 18.0% | 36.2% | +2.8% | +12% / +126% |
| BACBofA Finance LLC | 356.3 bn | 12.2 | 10.8% | 26.8% | +6.8% | −4% / +69% |
| WFCWells Fargo & Company | 262.5 bn | 12.2 | 12.9% | — | −1.6% | +2% / +96% |
| CCitigroup Inc | 218.2 bn | 17.8 | 6.8% | 16.8% | +5.6% | +20% / +171% |
| UBSUBS Group AG | 163.0 bn | 20.7 | 8.9% | — | +7.0% | +26% / +73% |
| COFCapital One Financial Corp | 124.1 bn | 12.1 | 9.7% | 17.2% | +36.6% | −6% / +85% |
| USBUs Bancorp \de\ | 95.1 bn | 12.0 | 12.7% | 27.5% | +4.4% | +24% / +60% |
| PNCPNC Financial Services Group, Inc. | 92.6 bn | 12.2 | 13.1% | 31.1% | +7.2% | +22% / +74% |
| HBANHuntington Bancshares Incorporated | 32.4 bn | 12.9 | 9.1% | 133.3% | +6.4% | −1% / +43% |
| RFRegions Financial Corporation | 24.7 bn | 11.7 | 11.9% | — | +23.8% | +14% / +74% |
| KEYKeyCorp | 22.8 bn | 11.6 | 11.2% | 26.6% | +62.7% | +17% / +74% |
| FHNFirst Horizon Corp | 11.0 bn | 11.0 | 11.6% | 29.9% | +7.2% | +3% / +81% |
| SNUS-PHSantander Holdings USA, Inc. | 10.8 bn | 6.1 | 10.8% | — | unavailable | unavailable / unavailable |
| CFRCullen/Frost Bankers, Inc. | 9.7 bn | 14.5 | 16.3% | 29.5% | +8.3% | +27% / +59% |
| ZIONZions Bancorporation, National Association | 9.5 bn | 8.3 | 16.4% | 168.7% | +3.6% | +22% / +82% |
| ONBOld National Bancorp | 9.5 bn | 10.2 | 11.5% | — | +6.1% | +15% / +68% |
| FULTFulton Financial Corp | 4.5 bn | 11.3 | 11.1% | 137.0% | −6.5% | +31% / +67% |
| WSFSWsfs Financial Corporation | 4.0 bn | 12.4 | 12.4% | — | +50.2% | +42% / +105% |
| CBUCommunity Financial System, Inc. | 3.4 bn | 15.0 | 11.5% | 26.6% | +9.6% | +14% / +46% |
| PRKPark National Corporation | 3.2 bn | 16.1 | 11.0% | 25.8% | +2.9% | +17% / +62% |
| BANCBanc Of California, Inc. | 2.8 bn | — | -0.7% | -1.4% | −3.8% | −3% / +55% |
| NBTBNbt Bancorp Inc | 2.8 bn | 13.0 | 11.4% | 117.1% | +10.4% | +28% / +49% |
| WAFDWaFd, Inc. | 2.2 bn | 9.2 | 8.5% | 810.8% | +7.8% | −7% / +10% |
| CHCOCity Holding Company | 2.0 bn | 15.5 | 16.6% | 176.6% | +3.2% | +17% / +48% |
| TBBKThe Bancorp, Inc. | 1.9 bn | 9.0 | 29.6% | 164.3% | +20.8% | −25% / +22% |
1- and 3-year price returns: for NBHC from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 22.12 Total return -38% · Per year -38% | 39.05 Total return 8% · Per year 8% | 58.76 Total return 62% · Per year 62% |
| 3 years | 22.62 Total return -31% · Per year -12% | 44.82 Total return 32% · Per year 10% | 73.88 Total return 113% · Per year 29% |
| 5 years | 23.13 Total return -24% · Per year -5% | 51.45 Total return 59% · Per year 10% | 92.90 Total return 177% · Per year 23% |
- Exit P/E± 11.21
- Net margin± 7.84
- Annual revenue growth± 6.28
- Annual dilution± 0.66
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 05 Aug 2026; since then the company filed 10-Q (03 Nov 2026), 8-K (27 Oct 2026 · results).
In brief
NBHC is a regional bank holding company headquartered in Colorado that provides commercial and consumer banking through NBH Bank and Bank of Jackson Hole Trust across Colorado, Kansas, Missouri, Texas, Utah, Wyoming, New Mexico and Idaho. After the January 2026 Vista acquisition, total assets reached $12.6 billion at June 30, 2026 2, making the company more relevant to investors tracking regional consolidation.
SWOT
Strengths
Weaknesses
- Operating efficiency weakened in 2026 because of acquisition and restructuring costs, and the adjusted efficiency ratio remains under pressure 3.
- Reported profitability fell compared with the prior year, partly because of integration costs 2.
- Exposure to non-owner occupied commercial real estate loans remains significant 2.
Opportunities
- If the 2UniFi platform reaches its planned scale, it could bring fee income and new small-business clients 1.
- Selective acquisitions in Texas and other attractive markets could widen the client base 1.
- Stronger demand for commercial loans, supported by record funding volumes, could support interest income 3.
Risks
- Credit riskhigh
Credit losses could rise if clients face financial difficulty or if collateral values decline 1.
- Interest rate riskhigh
Changes in interest rates could affect net interest income and the value of mortgage servicing rights 1.
- Integration riskmedium
Integrating the Vista acquisition could run into operational and systems difficulties that affect efficiency 2.
- Liquidity riskmedium
Deposit outflows could reduce available funds, and access to outside funding could be restricted 1.
- Operational and digital risklow
The 2UniFi platform could require additional systems to manage fraud and cybersecurity risk 1.
Investment thesis
What would need to be true (bull case)
- If the Vista integration and loan growth hold, the larger scale could improve profitability over time.
- A transaction deposit base and moderate deposit costs could support stable margins if competition eases.
- The 2UniFi platform could become a source of fee income if it reaches expected adoption.
What would break the thesis
- If regional economies weaken, credit losses on commercial real estate loans could rise materially.
- Integration could bring unforeseen costs and reduce short-term profitability.
- Competition for deposits could compress net interest margin faster than management expects.
What to watch
- Completion of the Vista systems conversion and its effect on efficiencyQ3 2026
- Trend in net interest margin and cost of depositsQ3 2026
- Level of credit losses and commercial real estate exposurenext 10-Q
- Progress and expense trajectory of the 2UniFi platform2027
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 05 Aug 2026; since then the company filed 10-Q (03 Nov 2026), 8-K (27 Oct 2026 · results).
The business
NBHC is a bank holding company that elected financial holding company status, incorporated in Delaware in 2009 and headquartered in Greenwood Village, Colorado 1. Operations run through NBH Bank, BOJHT and 2UniFi, LLC, with over 90 banking centers at December 31, 2025 1. By year-end 2025 the company had completed eight bank acquisitions and one non-bank acquisition 1.
The strategy combines organic growth built on relationships with small and medium-sized businesses with selective acquisitions of financial institutions in attractive demographic markets 1. Cost discipline comes from a centralized core technology platform and banking center consolidation 1.
Segments
Commercial and small business banking
Commercial and industrial loans, non-owner occupied commercial real estate loans and SBA loans form the core of the portfolio, where commercial loans were 57.3% of total loans at June 30, 2026 2. The company is an SBA Preferred Lender, which can speed up loan approvals 1.
Market context
The company operates in areas with population growth above the national average, such as Denver, Dallas and Austin, where the combined deposit share of the top three competitors ranges between 47% and 69% 1. The Vista acquisition added branches in Dallas-Ft. Worth, Austin and Lubbock, expanding the Texas footprint 1. Market size depends on local economies, commercial real estate and regional funding conditions.
High interest rates and intense competition for deposits affect net interest margin, which was 3.94% in the second quarter of 2026 3. The company notes that liquidity in the financial services sector remains tight 1.
Trends
- Regional consolidation through acquisitionsmixed
The Vista acquisition added $2.2 billion in deposits and lifted assets above $12 billion, but it also brought significant integration costs 2. If integration proceeds smoothly, the larger scale could support efficiency.
- Growth in commercial lendingtailwind
Loan fundings of $926.9 million in the second quarter of 2026 were a record 3, and loan growth could continue if client demand stays robust.
- Pressure on deposit costsheadwind
Competition for deposits and elevated rates can compress margins; the company cites intense competition as a continuing challenge 1.
- Commercial real estate exposureheadwind
Non-owner occupied commercial real estate loans are a significant part of the portfolio, and falling property values could lead to larger charge-offs 1.
Competitive position
NBHC competes with regional and community banks in its markets, with a focus on small and medium-sized businesses. The company notes intense competition for deposits and lending across all its markets 1.
The combined deposit share of the three largest competitors in major metropolitan areas generally stays below 70% 1, leaving room for mid-sized regional banks.
- Regional banks in Colorado and Kansas City
Direct competitors for deposits in the Denver and Kansas City areas, where NBHC is among the leading local players 1.
- Community banks in Texas
Compete for commercial clients in Dallas-Ft. Worth, Austin and Lubbock, areas expanded through the Vista acquisition 1.
- Banks in Utah and Idaho
Compete in the Salt Lake City and Boise City markets where NBHC is present 1.
- Large national banks with broad networks
Compete through scale and digital products, a competitive pressure the company itself identifies 1.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
Loading the links…
News & filings
In the press
No news in our archive over the last 180 days.
SEC filings
- Quarterly report03 Nov 2026
- Current report03 Nov 2026Other events · Financial statements and exhibits
- Current report03 Nov 2026Regulation FD disclosure · Financial statements and exhibits
- Current report27 Oct 2026Results of operations · Regulation FD disclosure · Financial statements and exhibits
- Current report01 Oct 2026Material impairment · Other events
- Quarterly report05 Aug 2026
- Current report04 Aug 2026Other events · Financial statements and exhibits
- Current report27 Jul 2026Regulation FD disclosure · Financial statements and exhibits
- Current report21 Jul 2026Results of operations · Regulation FD disclosure · Financial statements and exhibits
- Current report12 May 2026Departure or appointment of officers · Shareholder vote · Financial statements and exhibits
Sources
- [1] Form 10-K, fiscal year ended 2025-12-31 · SEC / National Bank Holdings Corporation · 24 Feb 2026
- [2] Form 10-Q, quarter ended 2026-06-30 · SEC / National Bank Holdings Corporation · 05 Aug 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / National Bank Holdings Corporation · 21 Jul 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.