NATIONAL BANK HOLDINGS CORPORATION NBHC Income Statement

National bank holdings corporation (NBHC)

Income statement / TTM

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Sep'11
Interest and dividend income:
Interest and fees on loans
219,588	218,836	215,608	209,081	200,619	193,124	177,005	163,888	150,766	137,249	135,078	132,464	128,124	129,317	130,933	130,133	132,228	131,253	131,569	132,322	133,210	134,476	132,969	134,894	136,160	139,048	146,149	150,926	159,200	169,656	163,218	0	0	0
Interest and dividends on investment securities
19,916	21,297	22,748	23,957	25,232	25,746	25,359	25,075	24,754	24,841	25,684	26,773	28,043	29,665	31,753	33,803	35,808	38,145	40,608	43,213	46,055	48,651	51,085	52,875	53,865	53,945	53,975	55,626	58,484	60,342	62,504	0	0	0
Dividends on non-marketable securities
1,761	1,770	1,634	1,485	1,275	1,096	981	947	916	839	786	712	687	748	828	987	1,111	1,210	1,265	1,191	1,144	1,206	1,293	1,436	1,554	1,559	1,563	1,552	1,548	1,535	1,418	0	0	0
Interest on interest-bearing bank deposits
584	698	775	779	894	1,425	2,036	2,141	2,036	1,492	761	545	780	718	768	906	727	799	753	650	455	329	412	584	683	923	1,119	1,222	1,461	1,952	2,204	0	0	0
Total interest and dividend income
241,849	242,601	240,765	235,302	228,020	221,391	205,381	192,051	178,472	164,421	162,309	160,494	157,634	160,448	164,282	165,829	169,874	171,407	174,195	177,376	180,864	184,662	185,759	189,789	192,262	195,475	202,806	209,326	220,693	233,485	229,344	0	0	0
Interest expense:
Interest on deposits
30,514	29,803	28,329	25,806	23,022	21,041	19,363	17,980	17,019	16,172	15,417	14,828	14,440	13,963	13,640	13,585	13,520	13,609	13,769	13,908	14,013	14,120	14,371	14,773	15,388	16,393	17,750	20,304	24,033	29,125	33,786	0	0	0
Interest on borrowings
6,324	6,968	6,362	5,435	4,042	2,913	2,419	2,346	2,222	1,943	1,595	1,203	870	845	858	842	850	853	826	655	470	293	133	141	135	121	101	86	98	109	138	0	0	0
Total interest expense
36,838	36,771	34,691	31,241	27,064	23,954	21,782	20,326	19,241	18,115	17,012	16,031	15,310	14,808	14,498	14,427	14,370	14,462	14,595	14,563	14,483	14,413	14,504	14,914	15,523	16,514	17,851	20,390	24,131	29,234	33,924	0	0	0
Net interest income before provision for loan losses
205,011	205,830	206,074	204,061	200,956	197,437	183,599	171,725	159,231	146,306	145,297	144,463	142,324	145,640	149,784	151,402	155,504	156,945	159,600	162,813	166,381	170,249	171,255	174,875	176,739	178,961	184,955	188,936	196,562	204,251	195,420	0	0	0
Provision for loan losses
16,268	11,643	12,939	8,056	6,690	5,197	5,993	9,066	11,218	12,972	10,982	12,395	14,827	23,651	27,792	26,209	21,610	12,444	8,286	6,091	5,893	6,209	5,716	4,638	4,648	4,296	6,194	11,020	21,576	27,995	29,085	0	0	0
Net interest income after provision for loan losses
188,743	194,187	193,135	196,005	194,266	192,240	177,606	162,659	148,013	133,334	134,315	132,068	127,497	121,989	121,992	125,193	133,894	144,501	151,314	156,722	160,488	164,040	165,539	170,237	172,091	174,665	178,761	177,916	174,986	176,256	166,335	0	0	0
Non-interest income:
Non-interest income
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Mortgage banking income
49,082	42,346	37,443	30,560	29,073	30,107	25,139	17,988	9,671	2,154	2,346	2,497	2,861	2,881	2,640	2,449	2,037	1,963	1,900	1,536	1,192	1,000	907	988	1,260	1,358	1,453	1,391	1,211	1,214	1,242	0	0	0
Bank-owned life insurance income
1,882	1,713	1,706	1,738	1,760	1,791	1,815	1,827	1,853	1,871	1,900	1,922	1,936	1,861	1,775	1,699	1,615	1,614	0	0	0	-	-	0	0	-	-	-	-	-	-	-	-	-
Gain (Loss) on Sale of Securities, Net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	674	-139	0	0	0
Other non-interest income
5,607	5,888	5,674	5,873	6,112	5,379	5,223	5,405	7,818	8,082	9,558	10,082	8,431	7,708	6,947	5,333	4,220	4,301	4,201	4,516	4,052	4,105	2,762	3,278	3,061	2,901	1,864	1,834	2,512	2,912	3,977	0	0	0
Gain on previously charged-off acquired loans
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	896	973	1,192	1,339	2,789	3,402	3,208	4,298	6,050	0	0	0
OREO-related income
282	315	151	196	588	917	901	965	600	438	508	2,039	2,140	2,248	3,698	2,214	2,215	2,379	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-
Bargain purchase gain
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0
FDIC indemnification asset amortization, net of gain on termination
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	10,984	13,028	16,021	18,960	-16,498	-15,122	-14,802	-13,820	0	0	0	-
FDIC loss-sharing related
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-15,553	-54,480	-49,622	-44,126	-36,603	-3,016	-3,264	-1,422	2,811	6,069	8,763	11,646	12,069	3,052	0	0	0
OREO related write-ups and other income
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	0	0	-	-	-	-	-
Total non-interest income
89,233	82,752	77,787	71,089	69,991	70,775	64,460	55,950	48,344	39,205	40,195	42,252	40,800	40,027	45,454	37,607	29,850	21,448	912	-1,235	-1,821	-1,696	5,785	7,509	12,672	20,177	26,810	31,535	34,260	37,379	92,448	0	0	0
Non-interest expense:
Salaries and benefits
128,022	122,732	119,096	113,701	112,157	114,939	108,448	99,684	90,470	80,188	79,112	79,840	79,543	79,765	81,646	82,009	83,553	83,018	82,261	82,865	82,137	82,834	82,899	84,480	87,820	90,002	91,248	95,791	94,654	94,111	94,324	0	0	0
Occupancy and equipment
27,352	27,336	26,851	26,951	27,420	28,493	27,177	25,460	23,512	20,994	21,351	21,809	22,275	22,904	23,674	24,106	24,467	24,490	24,519	24,576	24,716	25,101	25,147	25,548	25,209	24,700	24,104	23,118	21,986	20,558	19,237	0	0	0
Telecommunications and data processing
8,729	8,754	7,992	8,045	8,022	10,098	11,000	10,516	9,967	7,188	6,212	5,997	5,916	5,970	7,533	8,979	10,086	11,507	11,522	11,437	11,841	11,927	12,246	12,448	12,752	13,073	12,968	14,393	14,595	14,857	15,448	0	0	0
Marketing and business development
3,607	3,897	3,735	3,878	4,275	4,513	4,393	3,948	3,256	2,683	2,641	2,645	2,789	2,564	2,850	3,179	3,742	4,325	4,306	4,047	4,557	4,571	5,303	5,954	4,924	5,280	4,769	5,121	6,001	5,540	5,519	0	0	0
FDIC deposit insurance
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
FDIC deposit insurance
-	-	1,613	1,956	-	2,475	2,567	2,881	2,810	2,762	2,623	2,642	3,020	3,236	3,537	3,834	3,802	3,922	4,125	4,123	4,126	4,130	4,157	4,149	4,120	4,122	4,141	4,272	4,427	4,731	4,557	0	0	0
Bank card expenses
4,996	4,780	4,483	4,453	4,127	5,453	5,727	5,440	5,239	3,986	4,181	4,343	4,410	4,440	4,240	4,031	3,857	3,701	3,237	3,112	3,085	3,079	3,283	3,663	4,008	4,262	4,460	4,383	4,499	4,269	3,764	0	0	0
Professional fees
3,051	3,256	3,983	4,357	4,054	6,059	5,564	5,201	5,733	3,330	3,593	3,748	3,456	3,496	3,832	3,847	3,831	4,495	4,083	4,013	3,739	3,257	2,869	2,806	2,976	3,734	5,589	7,467	9,881	11,156	11,713	0	0	0
Printing And Supplies
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	2,967	0	0	0	-
Other non-interest expense
11,682	11,765	13,026	11,734	12,401	13,073	12,036	12,172	11,799	10,360	10,128	9,626	9,005	8,554	9,806	10,439	10,820	11,107	14,449	14,158	14,414	14,581	10,993	11,337	12,137	12,636	12,500	10,875	10,041	9,761	10,235	0	0	0
Other real estate owned expenses
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	15,836	18,845	16,411	20,313	13,165	0	0	0
Problem asset workout
2,711	3,186	2,778	2,841	2,891	2,549	2,827	3,798	3,903	3,994	4,267	3,803	3,881	3,983	4,986	5,635	6,439	7,317	13,659	13,105	12,425	11,258	15,274	15,141	14,955	16,601	6,189	7,322	9,152	8,532	7,045	0	0	0
Loss (gain) on OREO sales, net
6,761	7,200	7,346	1,282	978	500	2,283	2,330	3,960	4,150	2,516	4,096	4,063	4,383	4,554	2,715	1,737	2,776	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-
Core deposit intangible asset amortization
1,183	1,183	1,240	1,456	1,813	2,170	3,049	3,908	4,625	5,342	5,480	5,480	5,480	5,480	5,480	5,469	5,435	5,401	5,367	5,344	5,344	5,344	5,345	5,345	5,346	5,346	5,333	5,350	5,344	5,344	5,142	0	0	0
Loss (gain) from the change in fair value of warrant liability
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	106	-6,045	-4,313	-4,241	-2,953	3,692	1,995	1,091	820	230	1,825	2,738	1,385	0	0	0	-
Banking center consolidation related expenses
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	0	-	-	0	-	-	-	0	-	-	-
Initial Public Offering Cost
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	7,974	8,574	0	0	0
Business Combination, Acquisition Related Costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	870	4,689	0	0	0
Total non-interest expense
185,022	180,745	177,495	178,134	178,446	189,334	180,505	170,678	157,354	136,677	137,072	135,837	135,712	136,009	143,816	149,123	156,202	158,024	148,943	148,247	147,709	150,003	161,092	169,724	175,099	183,965	191,094	204,438	204,509	209,598	204,890	0	0	0
Income before income taxes
92,954	96,194	93,427	88,960	85,811	73,681	61,561	47,931	39,003	35,862	37,438	38,483	32,585	26,007	23,630	13,677	7,542	7,925	3,283	7,240	10,958	12,341	10,232	8,022	9,664	10,877	14,477	5,013	4,737	4,037	53,893	0	0	0
Income tax expense
15,687	15,829	15,346	14,281	13,902	12,230	27,464	24,843	24,218	21,283	2,749	2,711	1,518	2,947	7,221	3,946	3,656	3,044	-537	1,719	1,967	3,165	2,335	2,515	3,388	3,950	5,547	4,921	4,841	4,580	23,687	0	0	0
Net income
77,267	80,365	78,081	74,679	71,909	61,451	34,097	23,088	14,785	14,579	34,689	35,772	31,067	23,060	16,409	9,731	3,886	4,881	3,820	5,521	8,991	9,176	7,897	5,507	6,276	6,927	8,930	92	-104	-543	30,206	0	0	0
Earnings per share-basic (in dollars per share)
0.51	0.62	0.69	0.65	0.61	0.56	0.59	0.57	0.28	-0.38	0.27	0.34	0.31	0.35	0.30	0.15	0.01	0.10	0.05	-0.04	0.03	0.06	0.08	0.05	0.03	0.02	0.02	0.06	0.04	0.06	-0.15	0.05	0.03	0.65
Earnings per share-diluted (in dollars per share)
0.50	0.62	0.69	0.64	0.60	0.54	0.58	0.56	0.27	-0.36	0.26	0.33	0.30	0.33	0.30	0.15	0.01	0.10	0.05	-0.04	0.03	0.06	0.08	0.05	0.03	0.02	0.02	0.06	0.04	0.06	-0.15	0.05	0.03	0.65
Weighted average number of common shares outstanding:
Basic (Shares)
31,157	31,304	31,281	31,155	30,961	30,894	30,869	30,735	30,493	27,010	26,947	26,955	26,801	26,264	27,654	29,215	30,117	30,525	32,681	36,164	38,028	39,093	41,837	43,868	44,819	47,331	51,454	52,055	52,320	52,297	52,191	52,191	52,176	51,936
Diluted (Shares)
31,361	31,512	31,508	31,604	31,497	31,648	31,540	31,387	31,143	27,932	27,628	27,597	27,680	29,069	27,898	29,278	30,118	30,498	32,762	36,164	38,028	39,098	41,841	43,880	44,863	47,367	51,501	52,081	52,346	52,042	52,191	52,319	52,303	52,242
Service charges and other fees
Non-interest income
17,700	17,895	18,098	18,073	17,903	18,092	17,650	16,643	15,818	14,634	13,970	14,047	13,966	13,900	14,208	14,499	14,731	14,798	14,849	15,044	15,217	15,430	15,569	15,755	15,808	15,955	16,166	16,298	16,703	17,392	17,887	0	0	0
Bank card fees
Non-interest income
14,680	14,595	14,715	14,649	14,555	14,489	13,732	13,122	12,584	12,026	11,913	11,665	11,466	11,429	11,371	11,351	11,115	10,898	10,632	10,439	10,299	10,123	9,995	9,862	9,861	9,956	10,040	10,042	9,867	9,699	9,024	0	0	0