National Bank Holdings Corporation · NYSE:NBHC
National Bank — Q2 2025 Earnings Presentation
43 slides from National Bank's earnings presentation, Aug 14, 2025
Slide 1: Investor Presentation Q2 2025
Investor Presentation Q2 – 2025
Slide 2: Forward-Looking Statements
Forward-Looking Statements This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements do not discuss historical facts but instead relate to expectations, beliefs, plans, predictions, forecasts, objectives, assump
Slide 3: About Non-GAAP Financial Measures
About Non-GAAP Financial Measures 3 Certain of the financial measures and ratios we present, including “tangible assets,” “return on average tangible assets,” “tangible common equity,” “return on average tangible common equity,” “tangible common book value per share,” “tangible common equity to tang
Slide 4: Table of Contents
Table of Contents Financial Performance 08 Credit 15 Balance Sheet 20 2UniFi 25 Cambr 27 Management Team 29 Corporate Governance 32 Appendix 39
Slide 5: Company Highlights and Attractive Markets
(1)As of June 30, 2025. Includes one banking center shared by NBH Bank and BOJH Trust. (2)Represents a non-GAAP financial measure. ROAA and ROAE totaled 1.38% and 10.15% respectively. See Appendix for a reconciliation of these measures. (3)Excluding other intangible asset amortization. 5 Attractive
Slide 6: Shareholder Returns
(40%) (30%) (20%) (10%) 0% 10% 20% 30% 40% 50% 60% S&P600 Bank median NBHC $0.80 $0.87 $0.94 $1.04 $1.12 $0.59 2020 2021 2022 2023 2024 YTD25 6 Shareholder Returns Source: S&P Global Market Intelligence, FactSet Research Systems, Bloomberg; market data as of 6/30/2025 (1)Peer median of the following
Slide 7: Recent Recognitions
BH National Bank Holdings Recent Recognitions BEST 2024 Top TO WORK FOR SBA 7(a) Lender BEST BANKS Poa . — i 5 b side PIPER| SANDLER Forbes AMERICA'S Bank Holdings (i 2024 Bank & Thrift Sm-All Stars KKKKK KBW Bank | National Bank Holdings Honor Roll <BW
Slide 8: Financial Performance
National Bank Holdings Financial Performance
Slide 9: Q2 2025 Financial Highlights
Deposits Approximately 78% FDIC insured deposits Capital Ratios 14.17% Common Equity Tier 1 Ratio Q2 2025 Financial Highlights (1) Represents a non-GAAP financial measure. See Appendix for a reconciliation of these measures. (2)Excluding other intangible asset amortization ▪ Quarterly net income of
Slide 10: Profitable Steady Growth
10 Profitable Steady Growth $80.4 $88.6 $93.6 $28.3 $142.0 $118.8 $58.3 YE19 YE20 YE21 YE22 YE23 YE24 YTD25 Net Income Non-Adjusted Adjusted $123.9 $5.1 (1) $2.55 $2.85 $3.01 $0.87 $3.72 $3.08 $1.51 YE19 YE20 YE21 YE22 YE23 YE24 YTD25 EPS (Fully Diluted) Non-Adjusted Adjusted $0.14 $3.22 (1) ($ in m
Slide 11: Growth Trends
11 Growth Trends $5.9 $6.7 $7.2 $9.6 $9.9 $9.8 $10.0 YE19 YE20 YE21 YE22 YE23 YE24 YTD25 Total Assets $4.4 $4.2 $4.5 $7.2 $7.7 $7.8 $7.5 $0.2 YE19 YE20 YE21 YE22 YE23 YE24 YTD25 Total Loans Non-PPP Loans PPP Loans $651.4 $707.3 $728.8 $776.0 $860.3 $961.8 $1,013.4 YE19 YE20 YE21 YE22 YE23 YE24 YTD25
Slide 12: Trust and Wealth Partners
12 Trust and Wealth Partners ▪ Trust and Wealth Management solution tailored to high net worth individuals ▪ Scalable Private Wealth team provides a broad range of financial and retirement planning solutions, creating an opportunity to further leverage the platform to new and existing NBH clients ▪
Slide 13: Prudent Stewards of Capital
13 Prudent Stewards of Capital TIER 1 LEVERAGE 11.18% COMMON EQUITY TIER 1 RISK-BASED 14.17% TIER 1 RISK-BASED 14.17% TOTAL RISK-BASED 16.07% TANGIBLE COMMON EQUITY TO TANGIBLE ASSETS(1) 10.49% Capital Ratios – YTD25 (1)Represents a non-GAAP financial measure. See Appendix for a reconciliation of th
Slide 14: Highlights: Net Interest Income and Margin
Highlights ▪ Net interest income (FTE) increased 4.7% to $89.3 million in 2Q25 over the same period prior year. ▪ Net interest margin (FTE) widened 19 basis points to a strong 3.95% in 2Q25 over the same period prior year, driven by strategic loan and deposit pricing. ▪ Cost of funds improved 23 bas
Slide 15: Credit
Credit
Slide 16: Uniquely Diversified $7.5 Billion Loan Portfolio
16 Uniquely Diversified $7.5 Billion Loan Portfolio Concentrations ▪ Self-imposed concentration limits ensure a granular and diverse loan portfolio and protect against downside risk to any particular industry or real estate sector ▪ Individual industry sectors are limited to no more than 15% of tota
Slide 17: Granular Commercial Real Estate Portfolio
17 Granular Commercial Real Estate Portfolio Hotel & Lodging 28% Multifamily 19% CML Const. 7% Retail 9% Warehouse & Ind. 13% All Other 6% CML A & D 2% Office 6% Nursing Home 3% 1-4 Family Const. 7% ▪ Office: - Average LTV of 46% - 1.3% of total loans ▪ Retail: - Average LTV of 58% - 1.9% of total l
Slide 18: Strong Credit Quality History
18 Strong Credit Quality History YE22 YE23 YE24 2Q25 Loan charge-offs 0.17% 0.34% 0.06% 0.41% 0.38% 0.03% 0.05% 0.07% 0.05% 0.05% 0.01% YE22 YE23 YE24 2Q25 Non-performing loans Acquired non-performing loans OREO 0.45% Non-performing Loans Non-performing Asset Composition Net Charge-Offs(1) Total Cla
Slide 19: Credit Loss Protection
19 Credit Loss Protection $88.9 Total Loan Loss Coverage Including Loan Marks 1.45%(1) ACL/Total Loans 1.19% Loan Marks/Total Loans 0.26%(1) $19.6 $108.5 All dollars in millions (1)Represents a non-GAAP financial measure ACL 6/30/2025 Loan Marks 6/30/2025 TOTAL 6/30/2025
Slide 20: Balance Sheet
Ha National Bank Holdings Balance Sheet
Slide 21: Loan Portfolio Composition and Fundings
▪ Portfolio built on a relationship-banking strategy, with emphasis on depository and treasury management relationships ▪ Self-imposed concentration limits; individual industry sectors are limited to no more than 15% of total loan commitments, with the majority being 10% or less ▪ Industries requiri
Slide 22: High Quality Liquidity Portfolio: $1.5 Billion
13.5% 6.6% 0.2% 79.7% Cash U.S. Treasury Other U.S. Agency Mortgage/Sponsored Debt 22 High Quality Liquidity Portfolio: $1.5 Billion ▪ Liquidity portfolio duration of 3.5 years ▪ Portfolio used exclusively as an on-balance sheet source of liquidity: ▪ 54% unencumbered ▪ 46% pledged directly to clien
Slide 23: Granular Deposit Base
Granular Deposit Base ▪ No exposure to venture capital or crypto deposits ▪ Total deposits increased to $8.3 billion during 2025 ▪ Cost of average transaction deposits decreased 24 basis points to 1.83% during 2025 ▪ The mix of transaction deposits to total deposits was 87.0% Low Cost Deposits $5.9
Slide 24: Relationship Focused Deposit Base: $8.3 Billion
24 Relationship Focused Deposit Base: $8.3 Billion ▪ Approximately 78% FDIC insured ▪ Granular deposit base: - Average deposit balance on full relationship basis just $57 thousand - Average deposit balance per account $29 thousand ▪ Approximately $0.6 billion of deposits collateralized ▪ No concentr
Slide 25: 2UniFi
2UniFi
Slide 26: 2UniFi Platform Capabilities
Financial Capital Social Capital Technical Capital Cultural Capital Operational Efficiency FDIC insured acct., protected deposits, treasury management, recurring billing, invoicing Improved operating information, financial statement preparation, marketplace opportunities Cash Flow Analysis, predicti
Slide 27: Cambr
Cambr
Slide 28: Strategic Rationale
Strategic Rationale ▪ Cambr offers the use of a deposit administration platform (the Cambr platform) to various depository institutions, each known as a Bank of Record, that hold the deposits of individual clients. Cambr utilizes the Cambr platform to facilitate the placement of the Bank of Record d
Slide 29: Management Team
National Bank Holdings Management Team
Slide 30: Experienced Management Team
30 Experienced Management Team Nicole Van Denabeele Chief Financial Officer (22 years in financial industry) • Previously EVP, Chief Accounting Officer at NBHC • Controller at Polsinelli, PC • Senior Vice President, Assistant Controller at UMB Financial Corporation • Started career in public account
Slide 31: Management & Directors Beneficial Ownership
31 Management & Directors NBHC MANAGEMENT & DIRECTORS BENEFICIAL OWNERSHIP(1) PERCENT OF CLASS(2) G. Timothy Laney 508,744 1.32% Aldis Birkans 113,885 0.30% Nicole Van Denabeele 16,329 0.04% Richard U. Newfield, Jr. 191,880 0.50% Angela Petrucci 38,654 0.10% Dan Sznewajs 2,553 0.01% Ralph W. Clermon
Slide 32: Corporate Governance
National Bank Holdings Corporate Governance
Slide 33: Best Practices in Governance and Compensation
33 Best Practices In Governance and Compensation Corporate Governance ✓ Lead Independent Director with robust role and responsibilities ✓ Majority independent Board ✓ No short-selling, hedging, or pledging of NBHC shares (applies to all NBHC and NBH Bank insiders) ✓ Annual election of Board members
Slide 34: Board Directors and Lead Director Responsibilities
Fred J. Joseph ▪ Financial services regulator for 30 years as the Banking and Securities Commissioner for the State of Colorado ▪ Member of the Investor Issues Committee for FINRA A N I Compensation Independent Governance & Nominating Committee Chair Audit & Risk Appointed within the last five years
Slide 35: Board Qualifications and Skills
35 NBHC Board Represents a Diverse Range of Qualifications and Skills 4 4 9 8 5 8 4 3 Gupta Joseph Spring Zeile Clermont Zeile Sobers Laney Sobers Spring Zeile Experience or Expertise Number of Directors Experienced leaders capable of overseeing execution and challenging management Critical industry
Slide 36: Board's Role in Oversight of Risk
36 Board’s Role in Oversight of Risk The Board is actively engaged in NBHC’s risk management. Robust Risk Oversight at Board Level Risk Board Oversight Actions Cybersecurity Evolving nature and complexity of the threats from organized cybercriminals and hackers NBHC Audit and Risk Committee is respo
Slide 37: Executive Compensation Program
Long-Term Incentive Award 42% Annual Cash Incentive Award 31% Base Salary 27% 37 Executive Compensation Program NBH’s executive compensation practices align management incentives with long-term shareholder interests Components of Executive Compensation (2024) 2024 Compensation Breakdown Additional C
Slide 38: Doing Good At NBH
38 Doing Good At NBH Environmental ▪ Committed to using environmentally friendly office products and materials and optimizing our office and banking center space. ▪ Continued investment in our mobile and digital platforms, resulting in a reduction in paper and fuel emissions. ▪ Providing financing f
Slide 39: Appendix
Ha National Bank Holdings aa ae = ne: ines fl 4 a i al eee ee Appendix
Slide 40: Reconciliation of Non-GAAP Measures
40 Reconciliation of Non ($ in millions, except per share) -GAAP Measures (1) Represents non-recurring acquisition expense related to the Bank of Jackson Hole and Rock Canyon Bank acquisitions in 2022 (2) Represents non-recurring loss on security sales in 2024
Slide 41: Reconciliation of Non-GAAP Measures (cont'd)
41 Reconciliation of Non-GAAP Measures (cont’d) ($ in millions, except per share) (1) Represents a non-GAAP financial measure. YE22 adjusted for $8.0 million and $15.1 million of non-recurring acquisition-related expenses, respectively. YE24 adjusted for $6.6 million of non-recurring loss on securit
Slide 42: Reconciliation of Non-GAAP Measures (cont'd)
42 Reconciliation of Non-GAAP Measures (cont’d) ($ in millions, except per share)
Slide 43: Thank you
BE National Bank Holdings CORPORATION" Thank you.
National Bank Holdings — Q2 2025 Earnings Presentation on 6ix