Acquisition Activities (Tables)

3 Months Ended

Mar. 31, 2023

Rock Canyon Bank

Acquisition Activities

Net Assets acquired (at fair value) and consideration transferred

	September 1, 2022
Assets:
Cash and due from banks	$	260,883
Investment securities available-for-sale		402
Non-marketable securities		977
Loans, net		535,197
Loans held for sale		3,069
Premises and equipment		3,413
Core deposit and other intangibles		16,463
Other assets		11,749
Total assets acquired		832,153
Liabilities:
Total deposits		734,480
Other liabilities		10,115
Total liabilities assumed		744,595
Identifiable net assets acquired	$	87,558
Consideration:
NBHC common stock paid, closing price of $40.13 on August 31, 2022	$	124,272
Cash		16,141
Total		140,413
Goodwill	$	52,855

Summary of PCD loans purchased as part of the RCB acquisition

	Commercial		Commercial real estate non-owner occupied		Residential real estate		Consumer		Total
Unpaid principal balance	$	12,079	$	220	$	843	$	3	$	13,145
PCD allowance for credit loss at acquisition		(2,257)		(2)		(215)		—		(2,474)
(Discount) premium on acquired loans		(787)		19		(5)		—		(773)
Loans previously charged-off by RCB		(2,051)		—		—		(3)		(2,054)
Purchase price of PCD loans	$	6,984	$	237	$	623	$	—	$	7,844

Bank of Jackson Hole

Acquisition Activities

Net Assets acquired (at fair value) and consideration transferred

	October 1, 2022
Assets:
Cash and due from banks	$	40,509
Investment securities		203,728
Non-marketable securities		3,104
Loans, net		1,185,699
Loans held for sale		504
Premises and equipment		30,318
Core deposit and other intangibles		30,696
Other assets		31,970
Total assets acquired		1,526,528
Liabilities:
Total deposits		1,375,593
Long-term debt		39,229
Fed funds purchased		25
Other liabilities		9,483
Total liabilities assumed		1,424,330
Identifiable net assets acquired	$	102,198
Consideration:
NBHC common stock paid, closing price of $36.99 on September 30, 2022	$	162,459
Cash		50,989
Total		213,448
Goodwill	$	111,250

Summary of PCD loans purchased as part of the RCB acquisition

	Commercial		Commercial real estate non-owner occupied		Residential real estate		Consumer		Total
Unpaid principal balance	$	5,061	$	8,353	$	476	$	12	$	13,902
PCD allowance for credit loss at acquisition		(151)		(3,557)		(55)		(1)		(3,764)
(Discount) premium on acquired loans		(336)		(226)		(16)		—		(578)
Purchase price of PCD loans	$	4,574	$	4,570	$	405	$	11	$	9,560