National Bank Holdings Corp (NBHC): M&A transaction — NBHC completes Vista Bancshares acquisition for ~$377M; adds $12.6B assets

National Bank Holdings Corp

Each Vista share converted to 3.1161 NBHC shares + $31.62 cash; total consideration ~$377.4M.
Vista shareholders receive ~$84.8M cash and will own ~16% of NBHC fully diluted.
Pro forma assets ~$12.6B, deposits ~$10.7B; systems integration targeted for Q3 2026.
Board expanded to 10; Kirk McLaughlin (former Vista director) appointed to Compensation and Audit Committees.
CEO Tim Laney granted 377,724 restricted shares; President Birkans granted 189,825; one-third performance-based.

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

National Bank Holdings Corp completed an acquisition involving Vista Bancshares, Inc. for approximately $377.4 million (closed 2026-01-07).

Action: acquisition
Counterparty: Vista Bancshares, Inc.
Consideration: approximately $377.4 million
Closing: 2026-01-07

Exact text from the filing

shareholders will own approximately 16% of NBHC shares on a fully diluted basis. The total transaction value, based on NBHC’s January 6, 2026 closing price, is approximately $377.4 million. Keefe, Bruyette & Woods, A Stifel Company , served as financial advisor and Wachtell, Lipton, Rosen & Katz served as legal counsel to NBHC. Jefferies LLC served as exclusive

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National Bank Holdings Corp filing history →

Source: SEC EDGAR

accession 0001104659-26-001549

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