National Bank Holdings Corporation (NYSE:NBHC) Q3 2022 Earnings Conference Call October 28, 2022 11:00 AM ET

Company Participants

Tim Laney - Chairman, President and CEO

Aldis Birkans - CFO

Conference Call Participants

Jeff Rulis - D.A. Davidson

Kelly Motta - KBW

Andrew Terrell - Stephens Inc.

Andrew Liesch - Piper Sandler

Operator

Good morning, everyone. And welcome to the National Bank Holdings Corporation 2022 Third Quarter Earnings Call. My name is Keith and I will be your conference operator for today. At this time, all participants are in a listen-only mode. We will conduct a question-and-answer session following the prepared remarks. 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, non-interest income, margins, allowance, taxes, and non-interest expense. Actual results could differ materially from those discussed today. These forward-looking statements are subject to risks and 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 this date of this call. And National Bank Holdings Corporation undertake 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 Corporations Chairman, President and CEO, Mr. Tim Laney. Please go ahead, sir.

Tim Laney

Thanks Keith. Good morning. And thank you for joining us. As we discuss National Bank Holdings third quarter 2022 financial results. I’m joined by Aldis Birkans, our Chief Financial Officer.

We are pleased to deliver quarterly core earnings of $0.80 per share. We recorded organic loan growth of 30.2% and increased average total deposits 10.3% annualized. Its noteworthy that to-date we have experienced a nominal increase in the cost of deposits. It’s also important to point out that all asset quality metrics remain strong, and that we have prudently increased the conservativeness of our underwriting standards in light of questions around the economy.

On that note, I’ll turn the call over to our CFO Aldis Birkans. Aldis?