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Mar 31, 2020
NBHC Q1 2020 Earnings Report
Net income decreased due to loan loss provision, partially offset by increased residential banking income.
Key Takeaways
National Bank Holdings Corporation reported a net income of $15.8 million, or $0.50 per diluted share, for the first quarter of 2020. The results were impacted by a $6.2 million loan loss provision due to deteriorating economic conditions caused by COVID-19, which was partially offset by increased residential banking income.
Net income totaled $15.8 million, or $0.50 per diluted share.
Tangible Book Value grew to $21.27 per share.
Annualized net charge offs of just 0.03% and low levels of non-performing loans at 0.47% of total loans.
Tier 1 Leverage ratio of 11.1% and 12.9% Common Equity Tier 1 capital ratio.
Forward Guidance
The COVID-19 pandemic is expected to continue having a significantly negative impact to the U.S. labor market, consumer spending and business operations.
Positive Outlook
- Banking centers remain operational through drive-thru services.
- Digital banking platform leveraged with clients.
- Company-wide remote working arrangements implemented.
- Teams are working diligently to support clients experiencing financial hardship.
- Participation in the SBA’s Paycheck Protection Program and assistance with stimulus payments.
Challenges Ahead
- The length of the pandemic is unknown.
- The efficacy of government-mandated measures is unknown.
- Significantly negative impact to the U.S. labor market.
- Significantly negative impact to consumer spending.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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