National Bank Holdings (NBHC) Tops Q1 EPS by 3c

National Bank Holdings (NYSE: NBHC) reported Q1 EPS of $0.50, $0.03 better than the analyst estimate of $0.47.

In announcing these results, Chief Executive Officer Tim Laney shared, “I want to thank my teammates for moving quickly to address the challenges presented by the COVID-19 pandemic. Our priorities are to 1) protect the health of our associates and clients, 2) ensure the safety and soundness of our bank, and 3) act on every opportunity to prudently support our clients and the communities where we do business. To support our clients and communities, our teams have worked tirelessly to facilitate the SBA’s Paycheck Protection Program, obtaining SBA approval for $333 million in PPP loans. We estimate our efforts have helped save over 32,000 jobs to date. We entered this crisis with strong capital and liquidity positions, and we have moved quickly to assess emerging risks and to successfully deploy our contingency plans.”

Mr. Laney added, “We delivered 50 cents of earnings per share during the first quarter. Tangible Book Value grew to $21.27 per share as quarterly earnings exceeded the impact of the CECL adoption, our dividend and share buyback activity during the quarter. We maintained excellent credit quality with annualized net charge offs of just 0.03% and low levels of non-performing loans at 0.47% of total loans. We continue to hold high levels of excess liquidity and ended the quarter with a strong 11.1% Tier 1 Leverage ratio and 12.9% Common Equity Tier 1 capital ratio.”

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

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