National Bank Holdings Corp. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2017; Provides Tax Rate Guidance for the Year 2017
April 21, 2017 at 01:46 am IST
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National Bank Holdings Corp. reported unaudited consolidated earnings results for the first quarter ended March 31, 2017. For the quarter, the company reported total interest and dividend income of $38,740,000 compared to $41,554,000 a year ago. Net interest income was $34,722,000 compared to $38,038,000 a year ago. Income before income taxes was $7,018,000 compared to $440,000 a year ago. Net income was $8,258,000 or $0.30 per diluted share compared to $251,000 or $0.01 per diluted share a year ago. Common book value per share as at March 31, 2017 was $20.12 compared to $20.65 a year ago. Tangible common book value per share as at March 31, 2017 was $18.05 compared to $18.51 a year ago. Return on average assets was 0.73% compared to 0.02% a year ago. Return on average equity was 6.23% compared to 0.16% a year ago. Return on average tangible assets (non-GAAP) was 0.81% compared to 0.10% a year ago. Return on average tangible common equity (non-GAAP) was 7.66% compared to 0.79% a year ago.
The company expects that repeating prior year guidance, with a forecasted 2017 effective tax rate in the range of 22% to 24% and a fully taxable equivalent tax rate in the range of 29% to 31%.
National Bank Holdings Corporation is a bank holding company. The Company operates, through its subsidiaries, NBH Bank and Bank of Jackson Hole Trust (the Banks), which are a chartered banks and a member of the Federal Reserve System. The Bank provides a range of banking products to both commercial and consumer clients through a network of approximately 90 banking centers, located primarily in Colorado, the greater Kansas City region, Texas, Utah, and New Mexico, as well as through online and mobile banking products and services. The Bankâs distribution network also includes approximately 126 ATMs. The Bank offers personalized banking service to the clients, which includes services, such as loan and deposit services, online and mobile banking solutions, treasury management products, and services and trust and wealth management services. The Bankâs loan portfolio includes commercial and industrial loans, commercial real estate loans, residential real estate loans, and others.
National Bank Holdings Corp. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2017; Provides Tax Rate Guidance for the Year 2017