National Bank Holdings Corporation Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2016; Provides Earnings Guidance for the Fourth Quarter of 2016 and Tax Rate Guidance for the Full Year 2016
October 21, 2016 at 01:50 am IST
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National Bank Holdings Corporation reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2016. For the quarter, the company reported total interest and dividend income of $40,764,000 against $42,311,000 a year ago. Net interest income was $37,064,000 against $38,682,000 a year ago. Net interest income after provision for loan losses was $32,812,000 against $35,794,000 a year ago. Income before income taxes was $11,050,000 against $878,000 a year ago. Net income was $8,314,000 against $1,636,000 a year ago. Basic and diluted earnings per share were $0.30 against $0.05 a year ago. Return on average assets was 0.72% against 0.13% a year ago. Return on average tangible assets was 0.80% against 0.21% a year ago. Return on average equity was 5.76% against 0.98% a year ago. Return on average tangible common equity was 7.07% against 1.64% a year ago.
For the nine months, the company reported total interest and dividend income of $120,790,000 against $127,915,000 a year ago. Net interest income was $109,855,000 against $117,016,000 a year ago. Net interest income after provision for loan losses was $90,539,000 against $111,762,000 a year ago. Income before income taxes was $18,988,000 against $1,997,000 a year ago. Net income was $13,069,000 against $1,541,000 a year ago. Basic and diluted earnings per share were $0.45 against $0.04 a year ago. Book value per common share was $20.92 as on September 30, 2016 against $20.49 as on September 30, 2015. Tangible book value per share was $18.67 as on September 30, 2016 against $18.31 as on September 30, 2016. Return on average assets was 0.37% against 0.04% a year ago. Return on average tangible assets was 0.45% against 0.11% a year ago. Return on average equity was 2.92% against 0.28% a year ago. Return on average tangible common equity was 3.88% against 0.81% a year ago.
For the fourth quarter, the company forecasting quarterly fully taxable equivalent net interest income in the range of $35 million to $37 million, resulting net interest margin is expected to be in the range of 3.35% to 3.45%.
Regarding the fully taxable equivalent tax rate, the company is expecting the fourth quarter and full year to come in close 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 Corporation Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2016; Provides Earnings Guidance for the Fourth Quarter of 2016 and Tax Rate Guidance for the Full Year 2016