“Excluding these items, the current quarter adjusted non-interest expense totaled $81.5 million, increasing from the first quarter of 2025 primarily due to an increase in core operating expense growth from our recent acquisition.”10-Q · May 7, 2026 ↗
National Bank Holdings Corporation
NBHC
Market read
National Bank Holdings Corporation's current read is isolated; its market group is not confirming.
No new filing conclusion is available. 0 of 22 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 16 directly disclosed connections are confirming.
- NBHC's market-adjusted activity becomes unusual and at least one connected name confirms.
Invalidation: The isolated read changes if NBHC's group or a disclosed connection begins moving with it.
Research brief
The story so far
No new filing conclusion is available. 0 of 22 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 16 directly disclosed connections are confirming.
No thresholded supportive filing evidence is available yet.
No thresholded adverse filing evidence is available yet.
- NBHC's market-adjusted activity becomes unusual and at least one connected name confirms.
Company research
Understand the business, not just the ticker
Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.
- Which operating variable is changing?
- Is that change durable, cyclical or one-off?
- What evidence would disprove the current interpretation?
- Operating cash flow covered net income at 1.48x in the latest annual period.
- Credit and interest rates has repeated favorable evidence across 4 filings.
- Net margin changed -24.9 percentage points in the latest annual period.
- Demand and volume has repeated adverse evidence across 4 filings.
- EV/sales is 54% below the available filing-peer median; determine whether growth and quality justify the difference.
Price as of Sep 10, 2026
41.58Reported annual revenue and per-share history. This is accounting history, not a forecast.
What management says matters
Persistent and emerging business drivers
“The increase was primarily driven by higher interest bearing demand, savings and money market deposits totaling $1.3 billion, time deposits totaling $293.2 million, and long-term debt totaling $80.7 million.”10-Q · May 7, 2026 ↗
“The Company incurred $0.1 million and $1.1 million of interest expense related to FHLB advances or other short-term borrowings for the three months ended March 31, 2026 and 2025, respectively .”10-Q · May 7, 2026 ↗
“Excluding the acquisition and restructuring expenses, adjusted non-interest expense during the three months ended March 31, 2026 increased $19.5 million, or 31.4%, to $81.5 million, primarily due to an increase in core operating expenses driven by growth from…”10-Q · May 7, 2026 ↗
Valuation discipline
Descriptive valuation snapshot
Price/sales 33.6× · EV/sales 25.9×. Comparisons use only industry-matched filing peers.
Scenarios are withheld for Financial Services until sector-specific earnings and capital metrics are available; generic revenue/P/S scaffolds would be misleading.
Price action
How the market is pricing the story
Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 11 Sept, 10:35 GMT-4; this is a coverage limitation, not a flat-price conclusion.
Developments
No sourced recent-development timeline yet
Jodie has not returned a relevant primary source or news item for NBHC. This is an evidence-coverage gap, not a conclusion that nothing material happened.
Business and financial condition
Reported financial figures are not available yet
Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.
Filing analysis
No comparable filing assessment is available yet
Jodie has not yet found a suitable current-versus-prior filing comparison for NBHC. This does not mean the latest filing was neutral or immaterial.
Business ecosystem
The relationships behind NBHC
Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.
Depended on by
OSBCOld Second Bancorp, Inc.customerMay 7, 2026 ▾
“Immediately following the merger, Evergreen Bank Group (“Evergreen”), an Illinois-chartered banking corporation and wholly-owned subsidiary of Bancorp Financial, merged with and into Old Second National Bank, with the Bank continuing as the surviving bank.”
Filing peers
Companies whose filings use similar operating language.
Open the three relationships above to see Jodie’s filing proof. Pro unlocks 18 more links, every receipt, and alerts when connected names begin moving. Unlock the full network →
What is moving around it
Live connections
NBHC is currently a Early Follower in the organic co-movement group Regional Banks. This group is discovered from market behaviour rather than assigned from an industry taxonomy. 1 filing-linked name are in the relationship map; none is currently confirmed as moving with the group.
This group is retained as the last observed read for NBHC; it is not active in the latest market snapshot.
Context history
Theme membership history
No durable theme membership has been observed for this name yet.