National Bank Holdings (NBHC) Misses Q2 EPS by 2c

National Bank Holdings (NYSE: NBHC) reported Q2 EPS of ($0.04), $0.02 worse than the analyst estimate of ($0.02). Revenue for the quarter came in at $38.9 million versus the consensus estimate of $40.64 million.

Chief Executive Officer Tim Laney said, "We delivered a record quarter for loan originations of $271.4 million, progressing towards our goal of $1 billion in annual originations. Strong originations led to loan growth of $112.3 million, or 20.3% annualized, while maintaining excellent credit quality. We have remained focused on deepening our relationships with our small to mid-sized business clients and expanding our deposit base within our markets. We continued our success growing average demand deposits, which have grown 9.6% since the second quarter of last year, providing solid low-cost funding sources."

Mr. Laney added, "We remained active in repurchasing our shares during the second quarter and repurchased another 1.8 million shares, or 4.9% of our outstanding shares. Since early 2013, we have repurchased 33.2% of our shares outstanding, at a weighted average price of $19.45. In July, we commenced a $100 million cash tender offer at a price per share between $19.60 and $22.50. We believe that the completion of the tender offer would represent a prudent deployment of our shareholders' capital in the current environment."

For earnings history and earnings-related data on National Bank Holdings (NBHC) click here.

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