SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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Item 2.02. Results of Operations and Financial Conditions. *
On January 21, 2021, National Bank Holdings Corporation (“NBHC”) issued a press release announcing its financial results for the quarter ended December 31, 2020, which press release is furnished as Exhibit 99.1 hereto and is incorporated herein by reference.
Item 2.05. Costs Associated With Exit or Disposal Activities. *
On January 21, 2021, National Bank Holdings Corporation (the “Company”) announced its decision to consolidate seven of its banking center locations primarily in its Community Banks of Colorado market, with one location in its Bank Midwest market and one in its Hillcrest Bank market. The Company plans to integrate these locations into other banking centers within its network. These actions are a result of the Company’s continued focus on balancing physical locations and digital banking channels, driven by increased client usage of online and mobile banking and a commitment to further invest in digital banking technology. The Company expects to complete a substantial majority of these actions by June 30, 2021.
The Company anticipates annual expense savings of approximately $2.2 million upon completion of these consolidations. The Company expects to incur total pre-tax expense related to the consolidations of approximately $1.3 million, including approximately $1.2 million related to facilities expense. The Company expects to recognize the majority of these expenses during the first quarter of 2021, with the remainder incurred by the end of the second quarter of 2021.
Item 2.06. Material Impairments. *
The information contained in Item 2.05 above relating to asset impairment charges is incorporated into this Item 2.06 by reference.
Item 7.01. Regulation FD Disclosure. *
On January 21, 2021, NBHC issued, distributed, made available to investors, and posted on its website, the press release and accompanying financial tables reflecting its financial results for the quarter ended December 31, 2020, also furnished as Exhibit 99.1 hereto and incorporated herein by reference.
On January 21, 2021, NBHC issued, distributed, made available to investors, and posted on its website, a Supplemental Disclosure document, also furnished as Exhibit 99.2 hereto and incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits. *
Description of Exhibit
Cover Page Interactive Data File (embedded within the Inline XBRL document and contained in Exhibit 101)
*The information contained in Items 2.02, 2.05, 2.06, 7.01 and 9.01 of this Current Report on Form 8-K is being “furnished” and shall not be deemed “filed” for purposed of Section 18 of the Securities Exchange Act of 1934, as amended, nor shall it be deemed incorporated by reference in any registration statement or other filings of the Registrant under the Securities Act of 1933, as amended, except as shall be set forth by specific reference in such filing.
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
National Bank Holdings Corporation
/s/ Angela N. Petrucci
Name: Angela N. Petrucci
Title: Chief Administrative Officer and General Counsel
Date: January 21, 2021