National Bank Holdings in Colo. to Shut 36 Locations

By Chris Cumming October 01, 2013, 10:14 a.m. EDT 1 Min Read

Community banking

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Seven banks failed Friday, bringing the total number of failures this year to within one of the number of failures in all of 2009. So far 139 banks have failed in 2010. Friday's failures are expected to cost the deposit insurance fund a collective $478 million.

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Law and regulation

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M&A

National Bank Holdings Chief Defends Decision to Go with IPO

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National Bank Holdings Corp. (NBHC), a company formed in 2009 to buy failed banks, is planning to contract its branch network.

The $5.2 billion-asset company, based in Greenwood Village, Colo., said Monday that it plans to shutter its California branches and consolidate its retirement-service centers at the end of this year.

National Bank Holdings will integrate 32 limited-service retirement centers into its existing network of bank branches. It acquired the retirement centers through its purchase of the failed Hillcrest Bank in Overland Park, Kan., in 2010. The company will also close four Northern California branches that it acquired through its 2011 purchase of Community Banks of Colorado, another failed bank.

After the closures, National Bank Holdings will have 97 branches across Colorado, Kansas, Missouri and Texas, it said.

National Bank Holdings, formerly NBH, conducted an initial public offering last September. It earned $2.9 million in the second quarter of 2013, up 7% from the same period in 2012.

Chris Cumming