National Bank Holdings Corporation (NBHC) reported fourth-quarter net income of $16.0 million, or $0.42 per diluted share. On an adjusted basis, excluding acquisition costs and a strategic security sale, earnings were $0.60 per share, missing the consensus estimate of $0.82. Revenue for the quarter totaled $100.64 million, down 5.5% year-over-year.
The quarter was defined by intentional balance sheet management. The bank realized a $2.6 million loss on security sales to ensure total assets remained below $10 billion at year-end. This move allows the bank to avoid the Durbin Amendment’s interchange fee caps for another year, preserving an estimated $10 million in revenue. Net interest margin (NIM) for the quarter was 3.89%, though management noted the margin rebounded to 3.97% in December as deposit cost cuts began to outpace loan repricing.
While the broader SaaS and software sectors face “seat-count” rationalization pressures, regional banks like NBHC are focused on credit quality and deposit betas. NBHC reported that non-performing assets improved to 0.36% of total loans. For the full year 2025, the bank reported adjusted net income of $117.6 million, or $3.06 per share, and grew tangible book value per share by 10%. No analyst rating changes or price-target adjustments were reported today.
