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Jun 30, 2020
NBHC Q2 2020 Earnings Report
NBHC outperformed expectations driven by mortgage banking income and strong earning asset growth.
Key Takeaways
National Bank Holdings Corporation reported a net income of $17.7 million, or $0.57 per diluted share, for the second quarter of 2020. Adjusted net income totaled $19.0 million, or $0.62 per diluted share. The company experienced strong earning asset growth and maintained excellent credit quality.
Adjusted net income of $0.62 per diluted share, $0.12 per share higher than the first quarter
Maintained excellent credit quality with low annualized net charge-offs of just 0.05%
Non-performing loan ratio decreased five basis points from the prior quarter to 0.42% of total loans
Tangible book value per share grew by $0.40 during the quarter to $21.67
NBHC
NBHC
Forward Guidance
The COVID-19 pandemic has caused substantial disruption to the communities we serve and has changed the way we live and work. The length of the pandemic and the efficacy of the extraordinary government-mandated measures that have been put into place to address it are unknown, but have already had, and are likely to continue to have, a significantly negative impact to the U.S. labor market, consumer spending and business operations.
Positive Outlook
- Leveraged digital banking platform
Challenges Ahead
- The length of the pandemic and the efficacy of the extraordinary government-mandated measures that have been put into place to address it are unknown
- Significantly negative impact to the U.S. labor market
- Significantly negative impact to consumer spending
- Significantly negative impact to business operations