National Bank Holdings Corp. in Boston is shifting its headquarters to Denver following a string of bank acquisitions in Colorado and nearby states.
The company was established in 2009 for the purpose of buying distressed banks and it now has $6.2 billion of assets and more than 100 branches in Missouri, Kansas and Colorado. It struck its biggest deal in late 2010 when it bought the ailing $4.3 billion-asset Bank Midwest in Kansas City, Mo., from Dickinson Financial and it has also bought three failed banks, including two in Colorado last year.
President and Chief Executive Tim Laney said in a news release that the move demonstrates the company's commitment to growing in Colorado, where it already has more than half of its branches. The company, which was capitalized with $1.1 billion, announced late last year that it plans to go public and intends to use proceeds from the stock sale to buy more banks.
"We believe we have been effective in creating jobs and building a very strong franchise and presence in our Midwestern markets, and we are going to bring the same level of presence, commitment, and focus to Colorado," Laney said. "Our holding company move from Boston to Colorado further reinforces our commitment to grow deep roots in the communities we serve."
The news of the move was announced by the office of Colorado Gov. John Hickenlooper and first reported by the Denver Business Journal.
"National Bank Holdings Corp. has maintained a presence in Colorado for the past year, and the positive business experience, educated workforce and strategic location led the company to choose to move its headquarters here," Hickenlooper, a Democrat, said. "Access to banking is critical, and we are grateful for their significant investment in our state."
The move is expected to be completed in August.
