NBHC - Earnings call transcript Q3 2017 | National Bank Holdings Corporation

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Operator

Good morning, everyone, and welcome to the National Bank Holdings Corporation 2017 Third Quarter Earnings Call. My name is Lisa, and I will be your conference operator for today. [Operator Instructions].

As a reminder, this conference is being recorded for the replay purposes. I would like to remind you that this conference call will contain forward-looking statements, including statements regarding the company's loans and loan growth, deposits, strategic capital, potential income streams, gross margins, taxes and noninterest expense. materially discussed differ could results from today. those Actual U.S. to and more other forward-looking with in statements which uncertainties subject are the filings recent in These factors, risks, are company's most the detail disclosed Securities and Exchange Commission. These update call, Corporation National this date and these revise only statements. statements obligation Bank to as speak no the of of undertakes or Holdings CEO, It Holdings Corporation's Bank and introduce is now National my pleasure President to Mr. and turn the call over Chairman, Tim Laney.

Timothy Laney

quarter earnings everyone, Thank third you, for morning thanks, and Lisa, joining call. good and our

As Management I our Financial usual, with have Chief Newfield, Officer, me Rick and our Brian Officer. Lilly; Chief Risk

Our teammates in clients another and growth. relationships resulting during double-digit of with annualized revenue continued our to build quarter quarter, the third deepen

only proud Our I quarter. annualized deposits relationship-based annualized. during the bankers of And demand X.X% on increased am X.X% basis, grew particularly loans discipline the while demonstrated that pricing our an originated our

goal energy to concerns equally the While XXXX. identified the share I'll actions quarter Rick? painful, to the that Rick, on call the of turn the detail, more in on we our putting important, his charge-offs point, took the remainder problem over during loans us. outlook last And of to the discuss of previously on with and behind energy

Richard Newfield

morning, you, everyone. and Thank Tim, good

a XXXX, Let just September key are XX, at me million over jump loans credit right $XX into of of XXXX. to XX, XX, $XX September June our decrease at Nonaccrual metrics as down from million XX%. nicely

at by to half nonperforming to at at third Likewise, loans ratio to ratio quarter. of Our important from OREO. is asset problem nonaccrual from the and over June is of asset that X.XX% ratio the our end June XX down driven our It's at X.XX% X.XX% acquired is quarter-end. note X.X% nonperforming XX down

Past of with for classified consecutive million had basis decreasing at the quarter. classified ratio note loans $XX those, million. days very of I'll net were greater $X.X declining low loans, We points. quarter a we charge-offs our due XX third X or very took good X.XX%. also Excluding the is that loans in

charge-offs earnings X charge-offs the expected in basis of against larger As guided X first than million and the to general contrast the X reserves during half the last quarter's the loan. I second call, year in net net set annualized million against X XXXX. less incurred aside prior of we quarters charge-offs, half C&I in energy point $X.X of $X.X and loans loans, in was Of in

of the reserved were loans the prior and loan C&I fully in energy One quarters.

to was our remaining rated The other in adversely one that XXXX of loans nonaccrual and first is energy quarter of energy loan XXXX. moved nonaccrual during

several down continue during which asset While is nature recoverable X and years. noting the there's basis worth loan to prompted consistent the our a over carry to the absence the of our us protracted level It's into cleanup that and XX for be payments and the to workout, value, the and write favorable last points we of third quarter. stable well to the with XXXX, energy expected current expected year, outside charge-offs net portfolio, now to XX of value resolution are of experience also believe the to total

into and and over to as our significant the as strong indicators September accretive pointing any lower of finish head by several nonperforming of credit did XX, very previously our produce up ratios quarter the We wrap do we've OREO gains. XXXX, XXXX asset I'll expect quality third As not as quarters. XXXX. gains we significantly guided, nonaccrual leading next

the metrics negative behind year to in actions putting positioning strong with credit with turn to I are operate to is end call goal Our Brian us our portfolio. exposure energy very classified NBH Lilly. now Brian? loans energy the over taken no and no nonaccruals quality XXXX loan our in this XXXX. believe I'll and

Brian Lilly

Thank you, and good Rick, morning, everyone.

you on basis assets $X.XX, return with saw earnings a reported share we of XX night's last points. of release, tangible per on As

and gain issues We solid quarter, the loan problem $X.X to of the control, the energy while the we a quarter, portfolio from expense a annualized. merger credit had third come from pleased cost; off items originated for for are outlined, expense had negative workout finishing us, additional loan Peoples' The of $X.X OREO expenses; of as finally, behind and the against $XXX,XXX $X.X $X.XX had These energy our positioned quality a gains related X.X% the total past items, of very quarter. quarter of nonperforming Total to we second, the X.X% asset on Rick annualized, dampening net loss items million grew fourth we are to deliver putting resulting center provision for with the giving billion revenue billion of loan assets. a of growing first, well but several growth trends. the annualized effect expense visibility last impacts $X.XX the favorable included portfolio $X.X lighter together double-digit adjusted quarter with loans portfolio, banking million three

commercial Although our growth was of we annualized, X.X% expectations. it below had loan good

One of line of record drivers the on primary percentage the commercial The lines amount utilization revolving was of downs pay a credit. decreased.

$XXX credit line in of net quarter the totaling for in this experienced of net outstandings to of quarter, the result X.X% we fundings The commercial decrease businesses. quarter-to-quarter increase a primary million. million, decrease lines with $XXX of The in weighted credit a of had rate. million $XX had their $XX credit million $XX whereas was The we For cash total decline normal lower-than-usual yield variable last driver of a average the line loan the originations XX% strong in flows are and swing of the still a us, of clients of appears with quarterly million. be the

rate Our this loan again basis pricing as X.XX%. variable non quarter, XXX-XX XX yield focus reflected to our on was increased points

outlook in demand, being we loan payoffs due and the cautious of good to pay downs. to see levels commercial projected are higher growth fourth quarter, but more the For loan total we continue our

with forecasted loan We the total for the XX% growth approximately loans to The end given single loan mid-teens total for to is linked-quarter the payoffs are forecasting loan but pay and the annualized the full downs. down year growth, year, low in year nets portfolio acquired digits. originated

for steady, Adjusting center basis just the our annualized very rate. deposits. deposits business were led deposit quarter, pleased annualized. demand to sale points. a demand deposit X X.X% We with In of the last led Turning XX% noninterest-bearing growth growth increasing also deposits remained cost banking annualized, accounts by average X.X% of particular, with our transaction growth grew

increase is primarily due deposit as transaction the moving changes Our cost markets to slightly in total have continued mix deposit to as products pricing, slight longer-term well exhibit rational deposits. clients deposit to time our the within as

than X and we benefit of forecasted. point as margin to had widening of a prior growing million the delivering deposits interest flat after adjusting growth fully equivalent on income our the guidance, total mid-single-digit average point reiterating increasing higher a performed the above growth, X led income taxable realized $XX.X we sales. are the margin for center equivalent by banking deposit loans earning on year, average net transaction assets of levels X.X%. pricing was we for taxable and basis totaled We prior strength This keeping acquired on time basis our deposit of guidance Fully while from better $X.X net deposit interest million,

fully forecasting area we margin in For the of taxable net a equivalent fourth X.X%. of quarter XXXX, interest are the

were full provision the $X.X for $XX the provision albeit adjusting a with and income to credit, swap increasing with million the million. categories $XX overview million targeted totaled strength quarter, in given loan are it $X.X to a in fourth Add to the quarter income We quarter to related $XX decrease guidance Noninterest million, $X.X $X $X.X third million within year. income. particular third million, an range we energy offset with the forecasting after challenge the reiterate tighter is clients. pay consistent income, are we of decrease interest for to in quarter. guidance be in total prior loss the our the slightly from expect. base, of $X.X plus net Adding expense, as from the fee level, the at million the million We the to quarter. reduction forecasting decrease for gain XXX-XX commercial will last with the fourth million for flat accretion forecasted Rick XXX-XX the provided is and downs quarter earning our also loan income one accelerated accretion a the for credit $XX noninterest in year even third that million of income representing million to range stay the guidance outlook quarter. increasing our $X growth asset in income a range large for Generally, prior completely for realized accretion slightly quality the The strong from fee quarter's

banking problem the and million. gain Excluding net workout the merger. million of expense $X.X be is to full totaled quarter, year the included from asset center the $XX million gains second expected Expenses and $X.X to Peoples' a million $XX range to $XX.X OREO in and million expenses related

full million our of target before tracking are We $XXX total impact Peoples. expense year than the better of

we gains OREO As material quarter. to not the we last were expecting any quarter, in mentioned third realize on

net workout the gains and optimistic which full X for net a imply achieve OREO from quarter. a are year, cautiously in gains $X.X positive OREO the million net We would to from asset impact problem expenses fourth

year. to would push OREO gains see next be we However, into not some surprised

XX% the Regarding to range in a rate of we XX% to range fully a of taxes, tax tax effective target equivalent the taxable quarterly XX% in continue XX%. to range and

issued course, million using tax concludes previously in this $XX benefits Tim, capital that Capital X% additional strong ratio. leverage before quarter-end, comments. excess awards. is at on ratios equity with Of my a remained realized any performance-based

Timothy Laney

Thank you, Brian.

lot great capable and of business very do this We a solid ground strong sheet momentum with balance to supporting out future and important, covered growth. You equally year of a close look there. markets,

acquisition and on business. pending our with note, And up Lisa, lines In markets adding our core the Range deepen Front best-in-class City banking to Colorado region, questions. Peoples while open the addition, any Kansas for platform the that let's our greater presence of mortgage a will in our

Operator

first line Instructions]. Rabatin Piper our And the question [Operator comes Jaffray. of from from Brett

Brett Rabatin

inclusive lower first clear, you fourth Peoples was quarter, that is to NII make were still to I that sure want I ask, wanted of close can being the the I talking XQ? in and about in that

Brian Lilly

parts that there's I'd say question. two to

impact. guidance the First part, is we're giving without the Peoples

the that our our from rate that don't So core the in the here with middle it, control to quarter as we as and we application regulators close. run think still hopeful, run fourth is third quarter. totally of Peoples, that about we're topic,

So we'll the when they happen, that's details give what you those we're but running on towards, peoples.

Brett Rabatin

Okay.

Are rates, rates. you so Okay. And a betas? a anticipating funding job managing in done good any you looking And at speak, pretty about interest higher catch-up, cost you've can of what see deposit funding? little have in you're of higher on Or might talk with your you that the as cost? impact maybe then what deposits terms to

Timothy Laney

And business in think in with clients, continued a seeing excites reflection we're know in on to is small I You most particularly deposits. but Brett? demand our deposits. as and This we the point third Tim. core our about commercial with what X.X% it quarter us focus of demand small this was business growth Again, relates what, annualized expanding would centered out is What relationships, our talked that's that clients. growth we

be some disproportionate we'll to focus on point, the that front. our there's denying, We're move at transactional pressure level on So on in area. that. with balances the a that continue a interest-bearing We is building for will to assume focus. be there's deposits. market of our going And prepared But no

Brett Rabatin

last to the you sure $X.XX. down XQ? then Okay. to could in run just through real And trying impact quick one was But write that I make the again,

Brian Lilly

items. three there was Yes,

data million that expenses each $XXX,XXX. OREO $X.X and for course, comes quarter. quarter, and were credit impacts the impact goes. I behind this was Of over months, pennies but first lumpiness and that stuff, in there. the million of And quarter. breakeven $X.X part, of the course, at that the then third out energy then a of couple Peoples' for asset us workout we're type expenses always last processing here that that X the negative put we we Brett, And trickling for a that's the In And the of point problem

Timothy Laney

several the -- quarters. I over third had we the be guided on OREO next remain down the very look to for are at gains OREO that slow a And this and remind over really would but that acquired the as realized we embedded. resolution you quarter And quarter, that should optimistic

Operator

question comes the McGratty next Our from line KBW. from Chris of

Christopher McGratty

charge-offs to energy through quarter, we forward costs get thinking energy, the prepared can or again, the cleanup think the Once going ex to any and of XX, year, what we when kind I expense you're work 'XX? kind through from of said the Rick, pick in you to you you get able terms energy remark, XX speak side of of kind of interested and these Brian the this in you Tim might basis be were relief color credit I'm fourth points. as expense credits? once to the equation in about in up how into

Richard Newfield

Thanks question. the Sure, for Chris, Rick. it's

lower basis energy costs. behind the I'm really us to costs type And on that our So thinking year terms annualized position stay look basis on into basis, the quarter expect of than that and side, into year-to-date about a Again, a year-to-date actions way any in we And a slightly that's outside we basis, then took energy XXXX. to put below again as XX energy guiding move points I'll of kind that full we this on on reiterate range. energy credit we credit to painful, annualized do I'm and ex the we're while us. as

Brian Lilly

Chris, in could you of -- guidance course, I'd real more from here that take we're give we'll that much things, of But couple a add, detailed pleased. trends January.

three As below we at we've you last in challenge through. that went charge-offs, net excluding look energy the XX at or that years, been

category, now. asset we'll where problem down expenses, up workout And but we're certainly, some for assessing forward. So down saves. as expense think are those the marketplace in coming And place in as we'll get we you our go look we here expense as tighten then forward, that the that's January, a you

Timothy Laney

strong, portfolios of And a ensuring are the point, ourselves a any this sitting or our that and maybe loan could required, is around balance the not any and measure sheet, and on management forward. ensuring while issues, clean -- sheet in that kind and even we move have company very stress balance last a self-stress Chris, or any conviction point that board by is bubble that, legacy maintaining weather not to both disturbance

enter about good feel to where we So as stand we we plan 'XX.

Christopher McGratty

can the been margin speak helpful. If for pretty that. originating or the can companies early year guys Brian, once two how kind That's of you late of Thanks loans. in. one I active variable put sneak either You next, in together, obviously the in outlook? you it's have adjust rate

mathematically, kind next you deposit Just bit you're kind a of year? I little obviously, -- think off of the And do higher balancing benefiting from fourth jumping into how that X.XX% see in discipline. how point they had see quarter, do from of a But margin. you that

Brian Lilly

cents as kind together, Yes, the it's -- and up we them bringing our giving They But I'd the and real size get a to about size and then And for it on our dollars like we good put closed to -- margin can this we -- time, margin together. Chris. models they're current way bps on it and it. not question. think the accretive that's you. weighting we're of at

Operator

question comes of from Our the D.A. Rulis next from line Davidson. Jeff

Jeffrey Rulis

a couple what the Maybe discussion. and what accretion, last sequentially, if quarter on a margin, and this? Brian follow-up that The guess, just you I for core, the -- exclude margin was

Brian Lilly

It's question. an interesting

internally. that track do we before, shared we've think I

just there loans X% take take the and to tell we you in everybody that we're And XXX points back also we differently. of we XX If non-XXX-XX, a XX% higher-yielding let the that you because we've the the yields just about that rate versus We measures that push X.XX%, or just those use, less. basis getting XX%, out. marks And it's methodology the it me acquired, it's that some took. the

exactly the you on the future those if know, basis, been the equal facts that. -- that's become quarter. off, for as So last that jumping look about X it's bps around burns XX quarter. at that in as about it a XXX-XX X.XX here. But here But And you

Jeffrey Rulis

So XX jumping a... basis were where you linked on what's points, quarter, X.XX

Brian Lilly

at. see lower, last And is non-XXX-XX the hard in in total. third the was you X.XX% that I'd not underneath in X.XX% points move and that, yield look the book, originated quarter XX our basis the it you to dominant, is which to When quarter. here it's tell here Yes,

at are that some our those boosting loans And really on yield acquired loans -- So it's about X.X%. of think we to basis quarter XX put this of new points. fun all

as new as So positioned we're our picking well well future in for business up rate accretion increases. we're

Timothy Laney

Yes, exactly.

Jeffrey Rulis

That's great.

the obviously, and So relates X.XX%, down to QX step the the just in accretion? in that's X.XX%

Timothy Laney

Right.

Brian Lilly

fine. Yes,

Jeffrey Rulis

community you reduced -- what quarter-to-quarter, Okay. one, line if levels maybe then of the that it kind that, Maybe in? climate? relative comment Is comment the markets utilization. but the or And then, beyond sense is referenced anything perhaps also a why to you on, just the business of you'd in could were in Brian, business D.C. broad antics pulling your as the that on

Brian Lilly

I'll numbers. the provide

this even line -- actually was So quarter, year-over-year. Rick and mentioned XX% it and about think way, were been last we've about consistent I that consistent quarter-to-quarter, think we utilization,

So running We're at XX% that, the we've utilization. and now. that as down line add of been course business, in mid-XXs we

as it's seen comment. and I'll interesting -- marketplace. in to we've ask that's Tim to the But that So us, been

Timothy Laney

I that do in we in primarily that self-imposed very to you, we're nice is, is to going our pricing would continue do on very space. a we've of But there's building tremendous Jeff, greatest commercial portfolio. And tell still pursuing our we -- you and return in opportunity and we opportunity what to as focus being pricing we'll selective. for actually business, how see And tension, simply take real we a that estate think seeing estate perhaps portfolio. structure small those limits our look, much, the are business our amount I fair is consumer have markets. parameters C&I what And think we're and And example, the market as long take see on know, real expectations. commercial a it meets we'll share as and of for credit diverse

denying add. in is So great climate strong. not be And else business we're fortunate that in. we're look, absolutely sure look, I'm still markets there's remains to no markets. there what We're the to The in

Brian Lilly

cash we connect, of being our I your Tim, some down pay course, morning, of you Chris, in And you're were as business as talking could business, your add, XX% debt. about built. to would going DDA you're Jeff, if the running this increase

ebbs see to point, because we So that our business, we're as the and that's But flows. and that Tim's in emphasis. C&I

Timothy Laney

Yes, subject that to commercial we're more in arena. the

Jeffrey Rulis

Okay.

So a little Got it. combination front. loan self-imposed some the and cash maybe of building on

Operator

Our of Hovde from question the next Zabora line from comes Brian Group.

Brian Zabora

Just a you Or line think Are XX%? back assuming increases to your stays that expectations. it you growth loan maybe this on utilization question lower do around that level? loan

Brian Lilly

we we're see clients, our are polled will got we out we've because to that a up. trying chance some up, digits in total payoffs. their hard talking get and and As stay large We out relatively conservative. we're we fundings single not how growth, tell strong. portfolio but bankers far it to loan there's downs pay although shapes quarter that, you will think low originator put and It's will But growing to this us I go a too still for the there be believe still

Brian Zabora

bit closing? thoughts the maybe maybe initially the about you synergies then Peoples. But getting savings closer the second Could comfortable update talked that a question just margin. you're and about little around now just do an give that cost you had any just revenue feel on projected And -- on you Understood. us to we still a

Timothy Laney

to low-cost community their never third had We caliber the their the that The people, we the with are a we diligence it with more business approaches party of We're had practices in seen live bank. during best growing the the party deposits. get talent the as of and in mortgage and policies, a organization. third impressed with impressed know particularly recognize embedded more one to this

deal We have we reported announced. realize kind we no was to that reason the when can't think the synergies that of

Operator

from next Sandler O'Neill. comes question the Tim from line Our O'Brien of

Timothy O'Brien

totaled $X.X so the marked energy at remaining or Questions, nonaccrual loans million?

Richard Newfield

correct. Tim, That's this is yes, Rick.

Timothy O'Brien

And many that's one -- It are was how left? loans X.

Now it's X?

Richard Newfield

Was X.

Now efforts deliberately with it's working and and other this sell resolve X, to which ultimately quarter. contracts very we're

Timothy O'Brien

the energy there think And classified higher -- alluded by that's narrative, to then number possibly classified you to out year-end? than loan Tim, I remind is it's me, a clearing energy-related in because costs, that, tied your all so in

Richard Newfield

That's only classified actually and only the nonaccrual. the

Timothy Laney

the industry, it's worth before Tim, team the talking energy the last now problem inception X of go into the resolved And you're behind goal And XXXX. noting, in and credits. have about at identified X. is clear, to we The to be we us one has the these the of that

Timothy O'Brien

any And been remaining can can detail, you don't plus is full you this million -- at loan marked at interest? that Or $X.X amount all to, I understand want credit charge if against juncture? you it taken but has share at

Richard Newfield

loan No, loan we loan the have, prior reserved C&I that the quarters, is quarter. X I -- -- referred and prior energy that energy X in to in that when this reserved was were

So we took the charge against reserve. that actually

Brian Lilly

what net it's the X/XX. so -- it's Tim, we're revalue Well, is, as books the after it on of at carrying

Timothy O'Brien

total number Brian, the call, little Okay, lending a confused guidance coming to? into then what quarter on that and guidance, you such. guidance great. loan loan you I the did clarify, second quarter so And that growth by what the can realize on was and comments growth got from

Brian Lilly

it, quarter. restate I with you can said Tim, was second you because you until

Timothy O'Brien

took guidance Yes, the this folks that. on here think pretty that to this capture the growth, sure loan -- for be every in For I that in quarter, I the which that I do place gave quarter because want are going accurately explain second number then in of make right? I to believe. updated that And so we want shift you kind business focused you I you to XXXX, quarter quarter, just that so much,

Brian Lilly

for guidance our And fourth the quarter.

in So July--

Timothy O'Brien

Yes.

So this is I'm... full all That's year right? 'XX,

Brian Lilly

right. That's

XX% forecasting total growth. to were we July, in XX% So loan

accretion lower level for about the than down of XX% setting the being some just, the marketplaces, here with and our clients, look downs flows an from interesting because starting in about to because good It's (Audio also the meaningful XX% think all of originated acquired year, quarter. third line aggressive, range mid-teens the so there feeling XX% of that our normal that what the we in little is projecting the the some you less Gap) loans had payoffs, is credit more the in a had hoped year, backup is we're portfolio momentum. of and and XXX-XX was today the net moving for we're But that coming of coming as pay what down at of XX% quarter talked also. other downs the to is we're the bit off. we why pretty business loans, in certainly And acquired I much paying down in that pay banks, which but see, business portfolio. kind third for reason if in the we Now feeling were to still a those as but we movement we're

Timothy O'Brien

then -- year -- guidance you you didn't when number. catch deposit off for got some growth. updating year but were that the full full broke And you detail, I I

reason, you've guidance for -- did But broke update something. call think the some I you for or that?

Brian Lilly

quarter. We had just from No, that pretty same we the about reiterated our guidance I deposit... last feel good the exact

Operator

question of line Our the from Matt from comes Stephens next Olney Inc.

Matthew Sealy

This on for Sealy Olney. is Matt

a Peoples? XQ for base, is legacy And NBHC run outlook? rate expense the on good update expense any excluding So

Brian Lilly

guidance that at $XXX -- the beginning out of to our been we've the guidance Well, in in was million tracking we there year. January year, for the what our guidance the put

and quarter workout as are We to that. down than tracking the impacts And gains asset the it fourth problem really better expenses OREO it net here. comes

you'll putting plans, tell So you more get together now. as for here hear our that's January we us give But into I'd what we're XXXX. as guidance for

Timothy Laney

said, very we as to beat the we're rate, And believe we million parse today did $XXX the to as run Peoples NBH we core related in that terms guided expense clear. we hard of also make to. But and out acquisition impact can Brian our work the to going

Matthew Sealy

be and once it in Okay, great. Yes, will that Peoples obviously, fold. to the comes additive

Timothy Laney

Yes.

Matthew Sealy

make million you So fee for right? that Is to $XX $XX right to want the I on million outlook I heard being sure full income year.

Brian Lilly

the second $X just That's you're million million to on netting it's out careful, out. in that. that banking in be Otherwise, we gain the out quarter, $XX of million, center million and got $X.X taking the the $XX

Matthew Sealy

understanding want Peoples, great. are sure just guidance XQ lower from which I'm this to down excluding make Or Does going Okay, forward, NIM drivers this expectations? of the there X.X% reflect And -- NIMs. bps other to accretion this? is XX

Brian Lilly

accretion, in here it rolls primarily and little movements we our have as some we'll and into just just that It's pricing baked deposits number. forward that others CD and

Matthew Sealy

Okay.

I during other that quarter? drove And credit specific market identified here troubled the the the circling great. higher a quality, commercial Okay, credit back on middle Any in credit this you charge-offs XQ. update think was with this credit? And

Richard Newfield

is Matt, behind it effectively. and is, us It

it we energy other So referenced in prior why had the that I reserved loan quarters. and

Brian Lilly

third possible, was action our as Again, prudently behind it consistent charge reserve taking and theme of as with then as quickly, us. [indiscernible]

Matthew Sealy

Okay.

are you in After or fold, more Okay, deployment will on capital forward. is focus outlook thinking the buyback? How that on M&A great. reengage you forward? going And going lastly the Peoples about

Timothy Laney

of We're be And institutions up say an would we reluctant any idea of our other and of to very it at open -- or of if seeing sit made our reengage And certainly are are shares terms half to bought stock activity the price in at buyback talking right We right in would initial average in the But now, focus an right averaging offering of of level with very these us necessarily $XX. we the that doesn't public our with Look, for the is institutions prices. up I investors. investors. interesting around on well of back long-term interest high us. at proud having sense price over the having to Peoples. partnering an

Operator

I'm at remarks. questions Laney closing back showing turn call for we have no further Mr. I now to will his this time. the

Timothy Laney

this questions that just thanks time And to great and to Great a have Lisa. you, questions. follow-up. look morning, day. forward everyone Thank any to the took again, we certainly Everyone, ask

Operator

today's this you. conference Thank call. And concludes

earnings on and of Investor to through like listen X, be hours the much, replay the of will ID call to replay this the run of conference would referencing November be great have beginning will will on-play very the release you If available available XXXXXXXX. XXXX Thank page. and a and in company's telephone XXX-XXX-XXXX approximately Relations and website an it XXX-XXX-XXXX on The day. or dialing you X call, by this

now disconnect. may You

National Bank (NBHC) 19 Oct 172017 Q3 Earnings call transcript