National Bank (NBHC) investor relations material

Executive summary

• Adjusted net income for Q1 2026 was $32.6 million ($0.72 per diluted share), up 43% sequentially and 34.6% year-over-year, driven by record loan fundings, strong core performance, and the successful Vista acquisition, which added $1.9 billion in loans and $2.2 billion in deposits and expanded the footprint in Texas and Florida.

• Net interest margin (FTE) expanded to 4.06%, up 17 bps sequentially, with positive momentum for earnings growth in 2026.

• Record quarterly loan fundings of $805.5 million drove annualized organic loan growth of 12.4%.

• Quarterly dividend increased by 3% to $0.32 per share; $16.1 million in share buybacks executed in Q1 2026.

• Management expects to surpass $1.00 EPS in Q4 2026, supported by robust pipelines, diversified growth, and Vista integration.

Financial highlights

• Adjusted net income was $32.6 million ($0.72 per diluted share), up 43% from the prior quarter and 34.6% year-over-year.

• Fully taxable equivalent net interest income rose 25.7% sequentially and 25.3% year-over-year to $111 million.

• Non-interest income increased 16.9% year-over-year to $18 million.

• Efficiency ratio (FTE) improved to 61.3% (adjusted), with non-interest expense at $96.8 million including $15.3 million in acquisition and restructuring costs.

• Total assets reached $12.6 billion, loans $9.6 billion, and deposits $10.5 billion as of March 31, 2026.

Outlook and guidance

• Management expects to surpass $1.00 EPS in Q4 2026, driven by earning asset growth, fee income, and cost synergies.

• Net interest margin is expected to remain near 4% for the rest of 2026.

• Full-year loan growth guidance reaffirmed at approximately 10% on a $9.3 billion baseline.

• Fee income guidance for 2026 is $75–$80 million, with 2UniFi revenue weighted to H2.

• Non-interest expense projected at $320–$330 million for 2026, with expense synergies from Vista to be realized post-July system integration.