National Bank Holdings Corporation (NYSE:NBHC) Q2 2023 Earnings Conference Call July 20, 2023 11:00 AM ET
Company Participants
Tim Laney - Chairman, President & CEO
Aldis Birkans - EVP & CFO
Conference Call Participants
Brett Thompson - D.A. Davidson & Co.
Robert Terrell - Stephens Inc.
Andrew Liesch - Piper Sandler & Co.
Brett Rabatin - Hovde Group
Jeffrey Rulis - D.A. Davidson & Co.
Operator
Good morning, everyone, and welcome to the National Bank Holdings Corporation 2023 Second Quarter Earnings Call. My name is Anna, and I will be your conference operator for today. [Operator Instructions]. As a reminder, this conference is being recorded for replay purposes. I would like to remind you that this conference call will contain forward-looking statements including, but not limited to, statements regarding the company's strategy, loans, deposits, capital, net interest income, noninterest income, margins, allowance, taxes and noninterest expense. Actual results could differ materially from those discussed today. These forward-looking statements are subject to risks, uncertainties and other factors which are disclosed in more detail in the company's most recent filings with the U.S. Securities and Exchange Commission. These statements speak only as of the date of this call, and National Bank Holdings Corporation undertakes no obligation to update or revise these statements.
In addition, the call today will reference certain non-GAAP measures which National Bank Holdings Corporation believes provides useful information for investors. Reconciliations of these non-GAAP financial measures to the GAAP measures are provided in the news release posted on the Investor Relations section of www.nationalbankholdings.com.
It is now my pleasure to turn the call over and introduce National Bank Holdings Corporation's Chairman, President and CEO, Mr. Tim Laney. Please go ahead, sir.
Tim Laney
Thank you, Anna. Good morning, and welcome to National Bank Holdings' Second Quarter 2023 Earnings Call. I'm joined by Aldis Birkans, our Chief Financial Officer.
We delivered solid earnings for the quarter, representing a year-to-date increase of $34.1 million or 88% over prior year same period earnings. Our core earnings engine remains strong and adjusting for the impact of investment valuations met our expectations. Our credit quality is excellent, and our core deposits grew 29% annualized during the second quarter, with a common equity Tier 1 ratio of 11.08% an ample liquidity, we continue to serve as a source of strength in our markets. And on that note, I'll turn the call over to Aldis. Aldis?