National Bank Holdings Corp
For the period ended Dec 31, 2025. Filed Feb 24, 2026.
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FY2025 · Filed Feb 24, 2026
NBHC$37.08-0.1%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
Consolidated Statements of Cash Flows
(In thousands)
| | | | | | | | | | |
|---|---|---|---|---|---|---|---|---|---|
| · · For the years ended December 31, | |||||||||
| · · 2025 · · 2024 · · 2023 | |||||||||
| Cash flows from operating activities: | | | | | | | | | |
| Net income | | $109,574 | | $118,815 | | $142,048 | |||
| Adjustments to reconcile net income to net cash provided by operating activities: | | | | | | | | | |
| Provision for credit loss expense | | | 17,800 | | | 6,755 | | | 8,295 |
| Depreciation and amortization | | | 28,103 | | | 24,191 | | | 23,853 |
| Change in current income tax receivable | | | (2,937) | | | 1,740 | | | 3,223 |
| Change in deferred income taxes | | | 24,566 | | | 6,357 | | | 55 |
| Discount accretion, net of premium amortization on securities | | | (2,775) | | | (1,350) | | | (831) |
| Gain on sale of mortgages, net | | | (11,004) | | | (9,662) | | | (9,907) |
| Origination of loans held for sale, net of repayments | | | (352,038) | | | (346,588) | | | (398,438) |
| Proceeds from sales of loans held for sale | | | 361,842 | | | 349,450 | | | 407,425 |
| Originations of mortgage servicing rights | | | (194) | | | (404) | | | (1,183) |
| Proceeds from sales of mortgage servicing rights | | | 2,360 | | | — | | | 5,502 |
| Gain on sale of mortgage servicing rights | | | (646) | | | — | | | (1,052) |
| Impairment on fixed assets | | | — | | | 958 | | | 349 |
| Gain on sale of fixed assets | | | (1,562) | | | (637) | | | (148) |
| Stock-based compensation | | | 7,254 | | | 8,048 | | | 7,222 |
| Loss on security sales | | | 3,348 | | | 6,582 | | | — |
| Operating lease payments | | | (6,479) | | | (6,537) | | | (6,308) |
| Change in other assets | | | (2,838) | | | (16,062) | | | 343 |
| Change in other liabilities | | | (11,956) | | | 13,615 | | | (13,513) |
| Net cash provided by operating activities | | | 162,418 | | | 155,271 | | | 166,935 |
| Cash flows from investing activities: | | | | | | | | | |
| Proceeds from other securities | | | 50,998 | | | 57,527 | | | 100,046 |
| Proceeds from maturities and paydowns of investment securities available-for-sale | | | 132,562 | | | 157,538 | | | 92,032 |
| Proceeds from maturities and paydowns of investment securities held-to-maturity | | | 143,199 | | | 63,078 | | | 69,555 |
| Proceeds from sales of investment securities available-for-sale | | | 57,836 | | | 132,113 | | | — |
| Proceeds from sales of other real estate owned | | | 523 | | | 3,418 | | | 581 |
| Purchases of other securities | | | (51,237) | | | (44,889) | | | (106,175) |
| Purchases of investment securities available-for-sale | | | (160,543) | | | (185,713) | | | — |
| Purchases of investment securities held-to-maturity | | | (260,257) | | | (10,483) | | | (2,452) |
| Purchases of premises and equipment, net | | | (29,920) | | | (34,592) | | | (36,834) |
| Net decrease (increase) in loans | | | 274,797 | | | (73,338) | | | (477,109) |
| Proceeds from the sale of loans | | | 28,531 | | | — | | | 1,625 |
| Net cash activity for acquisitions | | | — | | | — | | | (45,300) |
| Net cash provided by (used in) investing activities | | | 186,489 | | | 64,659 | | | (404,031) |
| Cash flows from financing activities: | | | | | | | | | |
| Net increase in deposits | | | 54,782 | | | 47,229 | | | 317,050 |
| Net decrease in repurchase agreements and other short-term borrowings | | | (1,545) | | | (732) | | | (587) |
| Net payments to the Federal Home Loan Bank | | | (50,000) | | | (290,000) | | | (45,000) |
| Issuance of stock under purchase and equity compensation plans | | | (1,738) | | | (1,515) | | | (1,534) |
| Proceeds from exercise of stock options | | | 28 | | | 3,555 | | | 617 |
| Payment of dividends | | | (46,055) | | | (42,945) | | | (39,643) |
| Repurchase of common stock | | | (15,169) | | | — | | | — |
| Net cash (used in) provided by financing activities | | | (59,697) | | | (284,408) | | | 230,903 |
| Increase (decrease) in cash and cash equivalents(1) | | | 289,210 | | | (64,478) | | | (6,193) |
| Cash and cash equivalents at beginning of the year(1) | | | 127,848 | | | 192,326 | | | 198,519 |
| Cash and cash equivalents at end of period(1) | | $417,058 | | $127,848 | | $192,326 | |||
| Supplemental disclosure of cash flow information during the period: | | | | | | | | | |
| Cash paid for interest | | $168,398 | | $189,973 | | $124,426 | |||
| Net tax payments | | | 10,548 | | | 20,841 | | | 32,846 |
| Supplemental schedule of non-cash activities: | | | | | | | | | |
| Loans transferred to other real estate owned at fair value | | | 1,690 | | | 9,577 | | | 1,207 |
| Increase in loans purchased but not settled | | | 11,067 | | | — | | | — |
| Loans transferred from loans held for sale to loans | | | — | | | 1,159 | | | 4,833 |
| | | |
| | | |
| (1) | | Included in restricted cash at December 31, 2023 was $1.5 million placed in escrow for certain potential liabilities, for which the Company was indemnified, resulting from a previous acquisition. The restricted cash was included in other assets in the Company’s consolidated statements of financial condition. At December 31, 2025 and 2024, there was no restricted cash. |
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
December 31, 2025, 2024 and 2023
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