National Bank(NBHC) 2023Q2 Earnings Summary
Bullish Points:
1. Net income for the six months ended June 30, 2023, increased to $72,840,000 compared to $38,714,000 in 2022.
2. Total interest and dividend income for the six months ended June 30, 2023, increased to $234,602,000 compared to $108,361,000 in 2022.
3. Cash dividends declared for the six months ended June 30, 2023, increased to $0.51 per share compared to $0.46 per share in 2022.
4. Net increase in loans for the six months ended June 30, 2023, was $190,288,000 compared to a decrease of $306,728,000 in 2022.
5. Total assets increased by 3.1% to $9.9 billion at June 30, 2023.
6. Total loans increased by 5.4% annualized, and the allowance for credit losses increased to $92.6 million.
7. Total deposits increased to $8.1 billion at June 30, 2023.
Bearish Points:
1. Total non-interest income for the six months ended June 30, 2023, decreased to $28,488,000 compared to $35,816,000 in 2022.
2. Total non-interest expense for the six months ended June 30, 2023, increased to $119,273,000 compared to $89,634,000 in 2022.
3. Total non-performing loans increased by $17.0 million to $33.5 million as of June 30, 2023.
In summary, National Bank(NBHC) has shown significant growth in net income, interest and dividend income, loans, and deposits during the first half of 2023. However, there has been a decrease in non-interest income and an increase in non-interest expenses and non-performing loans. For more information, you can read the original text of National Bank(NBHC)'s financial report: https://www.sec.gov/Archives/edgar/data/1475841/000147584123000040/nbhc-20230630x10q.htm
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