National Bank Holdings Corporation Announces Acquisition of StoneCastle Digital Solutions, LLC
April 19 2023 - 4:10PM
National Bank Holdings Corporation (NYSE: NBHC) today announced
that its bank subsidiary NBH Bank (“NBH”) has recently acquired
StoneCastle Digital Solutions, LLC (d/b/a Cambr), a subsidiary of
StoneCastle Partners, LLC (“StoneCastle”).
Cambr is a unique deposit acquisition and processing platform
that generates core deposits from accounts offered through embedded
finance companies. Today, Cambr administers approximately $1.7
billion of deposits comprising more than 500,000 FDIC-insured cash
accounts.
Cambr’s business-to-business-to-consumer (B2B2C) model leverages
the customer base and marketing spend across a wide range of
embedded finance companies to source granular, diversified cash
deposits in a highly cost-efficient manner. Much of the underlying
deposits are transaction accounts. When combined with NBH’s
existing banking competencies, the Cambr platform is expected to
bring expanded capabilities for embedded finance companies while
also expanding to serve clients across a broader set of
sectors.
“Cambr provides us the ability to significantly grow our core
deposits with very little incremental overhead,” said Tim Laney,
Chairman, President and Chief Executive Officer of National Bank
Holdings Corporation. “Cambr’s high-touch, low-cost model adds a
highly scalable client base that delivers deposits at a
significantly lower cost than our traditional retail accounts. The
Cambr deposit channel provides NBH with a truly unique source of
liquidity and diversifies our funding capabilities and lowers our
all-in funding costs.”
Cambr will continue to go-to-market under the Cambr brand and
will operate as a separate subsidiary of NBH Bank.
Piper Sandler & Co served as financial advisor and Wachtell,
Lipton, Rosen & Katz served as legal advisor to NBH.
Keefe, Bruyette & Woods, a Stifel Company, served as
exclusive financial advisor and Gibson Dunn & Crutcher LLP
served as legal advisor to StoneCastle.
About National Bank Holdings Corporation
National Bank Holdings Corporation is a bank holding company
created to build a leading community bank franchise delivering high
quality client service and committed to stakeholder results.
Through its bank subsidiaries, NBH Bank and Bank of Jackson Hole
Trust, National Bank Holdings Corporation operates a network of
over 95 banking centers, serving individual consumers, small,
medium and large businesses, and government and non-profit
entities. Its banking centers are located in its core footprint of
Colorado, the greater Kansas City region, Utah, Wyoming, Texas, New
Mexico and Idaho. Its comprehensive residential mortgage banking
group primarily serves the bank’s core footprint. Its trust
business is operated in its core footprint under the Bank of
Jackson Hole Trust charter. NBH Bank operates under a single state
charter through the following brand names as divisions of NBH Bank:
in Colorado, Community Banks of Colorado and Community Banks
Mortgage; in Kansas and Missouri, Bank Midwest and Bank Midwest
Mortgage; in Utah, Texas, New Mexico and Idaho, Hillcrest Bank and
Hillcrest Bank Mortgage; and in Wyoming, Bank of Jackson Hole and
Bank of Jackson Hole Mortgage. Additional information about
National Bank Holdings Corporation can be found at
www.nationalbankholdings.com.
For more information visit: cobnks.com, bankmw.com,
hillcrestbank.com, bankofjacksonhole.com, or nbhbank.com. Or
connect with any of our brands on LinkedIn.
Forward Looking Statements
This press release contains “forward-looking statements” within
the meaning of the Private Securities Litigation Reform Act of
1995. Forward-looking statements contain words such as
“anticipate,” “believe,” “can,” “would,” “should,” “could,” “may,”
“predict,” “seek,” “potential,” “will,” “estimate,” “target,”
“plan,” “project,” “continuing,” “ongoing,” “expect,” “intend” or
similar expressions that relate to the NBHC’s strategy, plans or
intentions. Forward-looking statements involve certain important
risks, uncertainties and other factors, any of which could cause
actual results to differ materially from those in such statements.
Such factors include, without limitation, the “Risk Factors”
referenced in our most recent Form 10-K filed with the Securities
and Exchange Commission (SEC), and the following factors:
difficulties or delays in integrating Cambr or fully realizing
benefits. NBHC can give no assurance that any goal or plan or
expectation set forth in forward-looking statements can be achieved
and readers are cautioned not to place undue reliance on such
statements. The forward-looking statements are made as of the date
of this press release, and NBHC does not intend, and assumes no
obligation, to update any forward-looking statement to reflect
events or circumstances after the date on which the statement is
made or to reflect the occurrence of unanticipated events or
circumstances, except as required by applicable law.
Contact: |
Analysts/Institutional Investors: |
|
Media: |
Aldis Birkans, 720-554-6640 |
|
Jody Soper, 303-784-5925 |
Chief Financial Officer |
|
Chief Marketing Officer |
ir@nationalbankholdings.com |
|
Jody.Soper@nbhbank.com |
Source: National Bank Holdings Corporation
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