National Bank Holdings Corp. reported unaudited consolidated earnings results for second quarter and six months ended June 30, 2018. For the quarter, total interest and dividend income of $54,911,000 compared to $41,332,000 a year ago. Net interest income was $49,386,000 compared to $36,892,000 a year ago. Income before income taxes FTE was $21,411,000 compared to $12,773,000 a year ago. Income before income taxes was 0,312,000 compared to $11,384,000 a year ago. Net income was $17,512,000 or $0.56 per diluted share compared to $9,209,000 or $0.33 per diluted share a year ago. Book value per share was $21.49 at June 30, 2018. Tangible common book value per share increased to $17.61 at June 30, 2018. The return on average tangible assets was 0.87% compared to 0.45% for the second quarter of 2016. The return on average tangible equity was 8.21% compared to 3.98% for the second quarter of 2016. Return on average assets was 1.31% against 0.87% a year ago. Return on average equity was 10.75% against 6.78% a year ago. Interest income FTE (non-GAAP) was $56,010,000 compared to $42,721,000 a year ago. Net interest income FTE (non-GAAP) was $50,485,000 compared to $38,281,000 a year ago.

For the six months, net interest income was $97,033,000 compared to $71,614,000 a year ago. Income before income taxes FTE was $32,634,000 compared to $21,060,000 a year ago. Income before income taxes was $30,472,000 compared to $18,402,000 a year ago. Net income was $25,977,000 or $0.83 per diluted share compared to $17,467,000 or $0.63 per diluted share a year ago. Return on average assets was 0.93% against 0.76% a year ago. Return on average tangible assets was 0.99% against 0.84% a year ago. Return on average equity was 8.08% against 6.50% a year ago. Return on average tangible common equity was 8.21% against 7.93% a year ago. Interest income FTE (non-GAAP) was $109,864,000 compared to $82,730,000 a year ago. Net interest income FTE (non-GAAP) was $99,195,000 compared to $74,272,000 a year ago. The tangible book value per share excluding accumulated other comprehensive income was $18.18 as of June 30. The tangible book value per share now exceeds December 31, 2017 measure, which was just before the Peoples acquisition and a quarter sooner than the company had guided.

The company projects the effective tax rate for the second half of 2018 to be around 18% to 19%.