National Bank Holdings Corporation completed a public offering of $150 million in 5.875% fixed‑to‑floating rate subordinated notes due 2036 on February 11 2026. The notes carry a five‑year fixed rate of 5.875% payable semi‑annually, after which they convert to a floating rate tied to Three‑Month SOFR plus 241 basis points, payable quarterly.
The offering was upsized from an initial $100 million to $150 million after strong demand from institutional investors, underscoring confidence in NBHC’s capital profile. The notes qualify as Tier 2 capital, adding regulatory capital that can be used to support the company’s growth and digital‑banking initiatives.
Pro‑forma analysis shows the transaction will lift NBHC’s risk‑based capital ratio from 16.6% to 18.0% as of September 30 2025, reinforcing the bank holding company’s regulatory standing and financial resilience.
The capital raised will support the integration of the Vista Bancshares acquisition completed on January 7 2026, fund the expansion of the 2UniFi digital ecosystem, and provide a buffer for future acquisitions and digital‑banking projects.
Tim Laney, Chairman and CEO, said, "While the fourth quarter was noisy, we ended the year having grown tangible book per share by 10%, and we grew our CET1 capital ratio to 14.89%." Nicole Van Denabeele, CFO, added, "We kick off the year with a combined loan portfolio of approximately $9.4 billion and are projecting 2026 loan growth to be approximately 10%."
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