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Parent Company Only Financial Statements (Tables)

12 Months Ended

Dec. 31, 2023

Parent Company Only Financial Statements

Condensed Statements

Parent company only financial information for National Bank Holdings Corporation is summarized as follows:

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Condensed Statements of Financial Condition

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​	​	​	​	​	​	​
​		December 31, 2023			December 31, 2022
ASSETS	​	​	​	​	​	​
Cash and cash equivalents	​	$	77,853	​	$	46,250
Non-marketable securities	​		33,144	​		35,802
Investment in subsidiaries	​		1,139,290	​		1,034,501
Other assets	​		30,528	​		33,674
Total assets	​	$	1,280,815	​	$	1,150,227
LIABILITIES AND STOCKHOLDERS’ EQUITY	​	​	​	​	​	​
Long-term debt, net	​	$	54,200	​	$	53,890
Other liabilities	​	​	13,808	​	​	4,135
Total liabilities	​		68,008	​		58,025
Shareholders’ equity	​		1,212,807	​		1,092,202
Total liabilities and shareholders’ equity	​	$	1,280,815	​	$	1,150,227

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Condensed Statements of Operations

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​	​	​	​	​	​	​	​	​	​
​	​	For the years ended December 31,
​		2023			2022			2021
Income	​	​	​	​	​	​	​	​	​
Equity in undistributed earnings of subsidiaries	​	$	92,990	​	$	30,260	​	$	37,866
Distributions from subsidiaries	​		62,000	​		52,000	​		63,000
(Loss) income from non-marketable securities	​		(4,431)	​		(262)	​		553
Total income	​		150,559	​		81,998	​		101,419
Expenses	​	​	​	​	​	​	​	​	​
Interest expense	​		2,073	​		1,519	​		197
Salaries and benefits	​		7,318	​		6,138	​		5,622
Other expenses	​		3,382	​		6,433	​		5,042
Total expenses	​		12,773	​		14,090	​		10,861
Income before income taxes	​		137,786	​		67,908	​		90,558
Income tax benefit	​		(4,262)	​		(3,366)	​		(3,048)
Net income	​	$	142,048	​	$	71,274	​	$	93,606

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Condensed Statements of Cash Flows

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​	​	​	​	​	​	​	​	​	​
​	​	For the years ended December 31,
​		2023			2022			2021
Cash flows from operating activities:	​	​	​	​	​	​	​	​	​
Net income	​	$	142,048	​	$	71,274	​	$	93,606
Equity in undistributed earnings of subsidiaries	​		(92,990)	​		(30,260)	​		(37,866)
Stock-based compensation expense	​		7,222	​		6,059	​		5,541
Amortization	​	​	310	​	​	158	​	​	13
Other	​		15,833	​		(221)	​		(4,391)
Net cash provided by operating activities	​		72,423	​		47,010	​		56,903
Cash flows from investing activities:	​	​	​	​	​	​	​	​	​
Cash paid for acquisitions	​	​	—	​	​	(67,128)	​	​	—
Purchase of non-marketable securities	​	​	(1,773)	​	​	(11,471)	​	​	(23,025)
Net cash used in investing activities	​		(1,773)	​		(78,599)	​		(23,025)
Cash flows from financing activities:	​	​	​	​	​	​	​	​	​
Proceeds from issuance of long-term debt	​	​	—	​	​	—	​	​	40,000
Payments of long-term debt issuance costs	​	​	—	​	​	—	​	​	(535)
Issuance of stock under purchase and equity compensation plans	​		(1,534)	​		(1,481)	​		(2,267)
Proceeds from exercise of stock options	​	​	617	​	​	1,102	​	​	2,489
Payment of dividends	​		(39,644)	​		(30,447)	​		(26,888)
Repurchase of shares	​		—	​		—	​		(36,400)
Net cash used in financing activities	​		(40,561)	​		(30,826)	​		(23,601)
Net increase (decrease) in cash, cash equivalents and restricted cash	​		30,089	​		(62,415)	​		10,277
Cash, cash equivalents and restricted cash at beginning of the year	​		49,264	​		111,679	​		101,402
Cash, cash equivalents and restricted cash at end of the year	​	$	79,353	​	$	49,264	​	$	111,679

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- Definition

Tabular disclosure of condensed financial statements, including, but not limited to, the balance sheet, income statement, and statement of cash flows.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Name Regulation S-X (SX)
-Number 210
-Section 12
-Subsection 04
-Paragraph (a)
-Publisher SEC

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-04(a))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-3

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