UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
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Item 2.05. Costs Associated With Exit or Disposal Activities.
On July 2, 2020, National Bank Holdings Corporation (the “Company”) announced its decision to consolidate 12 of its banking center locations throughout its Community Banks of Colorado, Bank Midwest and Hillcrest Bank markets. The Company plans to integrate these locations into other, nearby banking centers within its network. These actions are a result of the Company’s increased focus on balancing physical locations and digital banking channels, driven by increased client usage of online and mobile banking and a commitment to improve digital banking technology. The Company expects to complete a substantial majority of these actions by December 31, 2020.
The Company anticipates annual expense savings of approximately $3.5 million as a result of these consolidations. The Company expects to incur total pre-tax expense related to the consolidations of approximately $2.5 million, including approximately $2.2 million related to facilities expense. The Company expects to recognize the majority of these expenses during the second quarter of 2020, with the remainder incurred by the end of 2020.
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 9.01. Financial Statements and Exhibits.
(d) Exhibits
Exhibit No. |
| Description of Exhibit |
104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
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SIGNATURES
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 | ||
By: | /s/ Angela N. Petrucci | |
Name: Angela Petrucci Title: Chief Administrative Officer and General Counsel |
Date: July 2, 2020
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Document and Entity Information |
Jun. 29, 2020 |
|---|---|
| Cover [Abstract] | |
| Document Type | 8-K |
| Document Period End Date | Jun. 29, 2020 |
| Entity Registrant Name | NATIONAL BANK HOLDINGS CORP |
| Entity Incorporation, State or Country Code | DE |
| Entity File Number | 001-35654 |
| Entity Tax Identification Number | 27-0563799 |
| Entity Address, Address Line One | 7800 East Orchard Road |
| Entity Address, Adress Line Two | Suite 300 |
| Entity Address, City or Town | Greenwood Village |
| Entity Address, State or Province | CO |
| Entity Address, Postal Zip Code | 80111 |
| City Area Code | 303 |
| Local Phone Number | 892-8715 |
| Written Communications | false |
| Soliciting Material | false |
| Pre-commencement Tender Offer | false |
| Pre-commencement Issuer Tender Offer | false |
| Title of 12(b) Security | Class A Common Stock |
| Trading Symbol | NBHC |
| Security Exchange Name | NYSE |
| Entity Emerging Growth Company | false |
| Entity Central Index Key | 0001475841 |
| Amendment Flag | false |