National Bank Holdings Corp (NBHC) FY2025 10-K Annual Report
National Bank Holdings Corp (NBHC) 10-K annual report for fiscal year 2025, filed with SEC EDGAR on Feb 24, 2026. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.
National Bank Holdings Corp FY2025 10-K Analysis
Business Overview
- • Core business model: Regional bank holding company providing banking and financial services through subsidiary banks
- • New regulatory exposure due to assets exceeding $10 billion post-acquisition, losing Durbin Amendment debit interchange fee exemption
- • Strategic regulatory risk focus with increased CFPB oversight and potential capital injection requirements under Federal Reserve “source of strength” policy
- • Total assets grew to over $10 billion from $9.9 billion as of Dec 31, 2025, triggering increased regulatory and compliance costs
- • Heightened risk of regulatory enforcement actions impacting dividends, share repurchases, and capital allocation strategies
Management Discussion & Analysis
- • Revenue $424.0M, net interest income FTE up $3.9M to $356.4M in 2025 vs 2024
- • Operating margin (efficiency ratio ex intangibles) 58.43% vs 58.69% in 2024, net income $109.6M vs $118.8M, adjusted net income $117.6M vs $123.9M
- • Best segment: Non-interest income rose 10.3% to $67.6M driven by gains on investments and trusts; Worst: Loans declined from $7.8B to $7.4B
- • Cash flow & capital: repurchased 416,795 shares for $15.2M; paid $1.20 dividends/share; capex includes $21.6M 2UniFi investment in 2025
- • Outlook: Acquisition of Vista ($2.5B assets) closed; risks include intense deposit competition, interest rate uncertainty, and scaling 2UniFi digital platform
Risk Factors
- • Board Audit & Risk Committee oversees cybersecurity risk management program execution
- • CEO-appointed Chief Risk Management Officer leads Enterprise Risk Management Committee including cybersecurity
- • CISO with 15+ years experience directs cybersecurity strategy, reporting to Chief Risk Officer
- • Enterprise Technology Department led by CTO with 25+ years experience handles cybersecurity network operations
- • Internal Audit and third parties evaluate cybersecurity effectiveness, reporting to Audit & Risk Committee annually
National Bank Holdings Corp FY2025 Key Financial MetricsXBRL
Revenue
$47M
▲ +2.1% YoY
Net Income
$110M
▼ -7.8% YoY
Net Margin
232.4%
▼ -2493bp YoY
ROE
7.9%
▼ -119bp YoY
Total Assets
$9.9B
▲ +0.8% YoY
EPS (Diluted)
$2.85
▼ -7.5% YoY
Operating Cash Flow
$162M
▲ +4.6% YoY
Source: XBRL data from National Bank Holdings Corp FY2025 10-K filing on SEC EDGAR. All figures in USD.
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