Good morning, everyone, and welcome to the National Bank Holdings Corporation 2025 Fourth Quarter Earnings Call. My name is Rachel, and I will be your conference operator for today. At this time, all participants are in a listen-only mode. As a reminder, this conference is being recorded for replay purposes. I will now turn the call over to Emily Gooden, Chief Accounting Officer and Director of Investor Relations.

Thank you, Rachel, and good morning. We will begin today's call with prepared remarks followed by a question and answer session. I would like to remind you that this conference call will contain forward-looking statements, including but not limited to statements regarding the company's strategy, loans, deposits, capital, net interest income, non-interest income, margins, allowance, taxes, and non-interest expense. Actual results could differ materially from those discussed today. These forward-looking statements are subject to risk uncertainties and other factors, which are disclosed in more detail in the company's most recent filings with the US Securities and Exchange Commission. These statements speak only as of the date of this call and National Bank Holdings Corporation undertakes no obligation to update or revise these statements. In addition, the call today will reference certain non-GAAP measures which National Bank Holdings Corporation believes provides useful information for investors. Reconciliations of these non-GAAP financial measures to the GAAP measures are provided in the news release posted on the Investor Relations section of www.NationalBank Holdings.com. It is now my pleasure to turn the call over and introduce National Bank Holdings Corporation's Chairman and CEO, Mr. Tim Laney.

Well, thank you, Emily. Good morning and thank you for joining us as we discuss National Bank Holdings fourth quarter and full year 2025 financial performance. I'm joined by John Steinmetz, our Executive Vice Chair and Executive Managing Director of Strategic Initiatives, our president, Aldous Burkhans, John Finn, our Chief Enterprise Technology Officer, and of course our Chief Financial Officer, Nicole Van Dennebel. I'll begin this morning by extending a very warm welcome to our new VISTA teammates who joined the NBH family earlier this month. Turning to the fourth quarter and full year 2025. While the fourth quarter was noisy, we ended the year having grown tangible book per share by 10%, and we grew our CET1 capital ratio to 14.89%. I'm pleased with our swift closure of the Vista Bank acquisition and believe our combined organization will produce powerful results. Results that Nicole will guide us through when she presents. It was a noisy fourth quarter with one-time acquisition costs, the strategic sale of securities, and a move to put any lingering problem loans behind us. Our goal was to enter 2026 with a clean slate and with a focus on profitable growth. I'll touch on to Unify later in the call, but share for now that we're pleased to have completed phase one of the 2Unify build, and we're joined by John Finn, who co-leads 2Unify, and he'll cover our progress in detail in just a bit. Before I hand off to Nicole, I also want to compliment our bankers on their deposit and loan pricing discipline, which led us to close out the year with a net interest income margin of 3.97%. I believe we are set up for a beautiful 2026. Nicole?

Thank you, Tim, and good morning. Today, I'll review the fourth quarter full year 2025 financial highlights and provide guidance for 2026. Our guidance reflects the combined organization and consistent with past practice excludes the impact of any future Fed rate decision. In 2025, we executed on key strategic priorities. We announced and have now closed the VISTA acquisition within four months, grew tangible book value by 10%, and delivered a full-year net interest margin of 3.94%. Fourth quarter's results were impacted by elevated provision expense and one-time items including $4.1 million in after-tax acquisition costs and a $2.6 million after-tax loss on the strategic sale of investment securities to remain below $10 billion in assets at year-end. As a reminder, this action will preserve approximately $10 million in interchange income for one more year. Excluding one-time items, fourth quarter net income totaled $22.7 million or 60 cents of earnings per diluted share. As Tim shared, we addressed a specific set of problem loans during the quarter. This resulted in $9.1 million of provision expense related to charge-offs and specific reserves. For the full year 2025, on an adjusted basis, net income totaled $117.6 million or $3.06 of earnings per diluted share, return on tangible assets was 1.3%, and return on tangible common equity was 12.2%. During 2025, we maintained a top quartile full-year net interest margin of 3.94% generated 1.6 billion dollars of new loan origination, executed share buybacks, and added to our robust capital base. We are pleased to have added a number of experienced bankers to our team through the VISTA acquisition. We kick off the year with a combined loan portfolio of approximately 9.4 billion dollars and are projecting 2026 loan growth to be approximately 10%. At acquisition closing, we added approximately $2.4 billion of earning assets from VISTA to our balance sheet. As we optimize the total cash and investment portfolio mix, we project the combined bank to generate earning asset growth of 7% to 10% during 2026. Our goal is to hold approximately 15% of total assets in cash and investments and maintain a loan-to-deposit ratio of approximately 90%. Fully taxable equivalent net interest margin for the fourth quarter was 3.89% and was impacted by variable rate loans repricing well ahead of Fed rate cuts. However, we cut deposit rates in tandem with the Fed, creating a lag effect in our cost of deposits. Most of this has now worked its way through our balance sheet and December's margin returned to a strong 3.97%. Similarly, VISTA's December margin was 4%. As a result, we We project 2026 fully taxable equivalent net interest markets to remain right around 4%, excluding the impact of future rate moves. Turning to credits, our non-performing asset ratio improved 11 basis points during 2025 to end the year at a low 36 basis points of total loans. The criticized loan ratio improved 73 basis points during the year. Net charge-offs were 34 basis points of loans for the year and the allowance to total loans ratio ended the year at 1.18 percent consistent with the prior quarter. We continue to hold $16.8 million of marks against our acquired loan portfolio as of December 31st, providing an additional 23 basis points of loan loss coverage if applied across the MBH legacy loan book. We will be adding marks from VISTA's loans during the first quarter of this year. We project the provision expense in 2026 to cover net charge-offs and new loan growth at a rate consistent with the current 1.2% allowance to total loans ratio. Fourth quarter non-interest income was $14.4 million dollars and included $3.3 million in pre-tax securities losses. For 2026, we project total non-interest income to be in the range of $75 to $80 million. Fourth quarter non-interest expense totaled $72.4 million, including $5.4 million of acquisition costs. Also included in the fourth quarters expense were investments made in bankers in our resort markets. Full-year non-interest expense was $265 million, including $7.2 million in acquisition costs and $22 million related to two unifies. For 2026, we project non-interest expense of $320 to $330 million, reflecting a full year of VISTA expenses. We project expenses during the first half of the year in the range of $165 to $170 million. This means lower expenses in the back half of the year, reflecting cost savings from operational efficiencies generated by the combined organization following the completion of system integration. During 2026, we expect to incur one-time expenses associated with the acquisition and rebranding. In addition, we may recognize CECL Day 1 provision expense depending on our final purchase accounting approach. As Tim shared, we are pleased to have completed the initial phase of 2Unify in 2025 with the launch of our fully automated SBA loan offering last quarter. With the core technology infrastructure now in place, we expect a substantial reduction and capital expenditures for 2Unify in 2026. This shift positions us to begin realizing operating leverage from the platform. For 2026, we expect $2 to $4 million in 2Unify revenue contributions, which is included in my fee income guidance. Importantly, we expect to maintain flat year-over-year 2Unify expense, even with 2026 reflecting a full year of capitalized asset depreciation, which is approximately half of two unified 2026 expenses. This means significantly lower cash spend in 2026. Turning to income taxes, the 2025 affected tax rate was 18%. With the integration of VISTA and resulting shift in a mix of taxable versus non-taxable income. We expect our effective tax rate to be approximately 20% for 2026. Capital levels remain strong and we continue to grow our excess capital. We ended the year with a TCE ratio of 11%, Tier 1 leverage ratio of 11.6%, and a strong common equity Tier 1 ratio of 14.9%. We project a 2026 share count of 45.8 million shares, reflecting the VISTA-related share issuance. On a final note, bringing this all together, we believe we are well positioned to deliver earnings in excess of $1 per share in the fourth quarter of 2026, which sets the stage for full year earnings exceeding four dollars per share in 2027. With that, I'll turn the call over to John Steinmetz.

Thank you, Nicole, and good morning. On behalf of the VISTA team, our stakeholders, and the entire NVH family, I am pleased to have successfully merged our organization with National Bank Holdings Corporation and honored to be joining you on today's call. As the newest member of National Bank Holdings, I am fired up about the future of our combined companies. We have partnered with a dynamic, high-performing team and platform, and I believe there's a tremendous potential for our combined organizations. It hasn't taken long to have my instincts confirmed that our companies are ideal partners for our shareholders and team members alike. With its strong leadership, consistent discipline around credit, and a vision to create one of the most respected and profitable financial institutions in the country, NVH has built a platform that is uniquely positions our company for strong continued organic and strategic growth. As a part of the NVH family, we are excited to have the opportunity to offer extended services such as wealth management and trust services, an enhanced treasury management offering, added mortgage products, and a bigger balance sheet to support the growth of our valued clients. The broader product set will strengthen our relationships, eating wallet-share, and enable our exceptional bankers company-wide to better serve our clients through their financial life cycle. We are also honored that Tim and the board made the decision to adopt the Vista name as the Go Forward brand in our diversified markets. It provides our combined teams a unified front and is a name that works well in both English and Spanish, further enforcing our commitment to taking the long view of better serving our clients in the future. With $2.7 trillion GDP, Texas is one of the fastest growing economies, larger than most countries and consistently outperforming national averages. Texas's diversified high growth economy provides unlimited opportunities for our combined organizations. That said, I am also equally excited about the growth opportunities in the various resort markets we serve currently, such as Jackson Hole, Aspen, Vail, Telluride, and Palm Beach, Florida. Since the transaction, we have already added three presidents with over 45 years combined experience at their previous banks prior to joining NVH. These communities, once seen as primarily secondary home destinations, are now primary residents for wealthy baby boomers. This shift presents an opportunity to offer our white-glove concierge of private clients and wealth management services, further setting our bank apart in a very crowded industry. Additionally, I am pleased to share with you that we are already seeing early momentum in our combined pipelines, fueled by the energy of our seasoned team members and enhanced capabilities, creating a clear path to value creation through relationship-driven profits. Equally significant is the cultural fit between our two organizations. Over the past several months, the Vista Bank and NBH teams have united around a shared philosophy, putting people first, a focus on the values of teamwork and meritocracy, all while delivering exceptional results and building long-term relationships. These values drive results and further increase shareholder value. The Legacy VISTA team has been together for nearly two decades, and my commitment remains unwavering to finance the American dream for those entrepreneurs brave enough to pursue it. We invest in our communities, and we compete to win, and while striving to create the best place for our associates to call work. Having deep respect for Tim Aldis and the entire MBH team that's built, we couldn't be prouder to join the MBH family. I truly believe the best is yet to come. All that said, we are confident that our contributions will enhance MDH's growth profile, strengthen its market presence, and further expand shareholder value. I'll close my remarks by thanking you for your trust and support, and now I'll hand off the call to my friend, Aldis.

All right, thanks, John, and good morning. I'll begin by highlighting what was a strong long production quarter. We originated $591 million in total loans, the second highest loan production quarter in our company's history. I believe that performance is a direct reflection of our franchise strength and capability of our bankers. What I'm most proud of is the composition of that production. $429 million of that came from commercial loan originations, a new record for us. This drove our commercial loan portfolio growth to nearly 8% annualized. This is high-quality, relationship-driven business that proves we are winning in our core markets. During the fourth quarter, we continue to see pressure on our commercial real estate law advances. This decline was mostly driven by accelerated payoffs as clients moved toward alternative funding, private credit, REITs, and life insurance companies. As a result, we improved our non-owner-occupied CRE-to-capto ratio to a low 127%. And when we factor in the VISTA balance sheet, we are starting the year comfortably below the 200% threshold, which gives us meaningful runway for growth moving forward. From a credit perspective, Tim and Nicole have already walked you through the actions we took during the fourth quarter. I'll just simply add this. My expectation is that our asset quality metrics will continue their positive trends returning to top quartile performance in 2026. I'm also very pleased to be working alongside John's Diamonds as we expand our footprint in Texas and Key to Zooka markets. And together, we expect to deliver our 2026 targets driven by profitable and prudent growth. When you combine the VISTA merger with our planned organic growth across all markets and recognize that we have reached our turning point for to unify, the stage is set for a very compelling 2026. With that, I will turn it back to Tim.

Thank you, Aldis. I'll share a few thoughts on 2Unify before handing off to John Fenn. First, I want to congratulate the 2Unify team on completing the Phase 1 bill. Second, make no mistake, during 2026, there will be an intense focus on new client activation and growing revenue. And finally, our goal is, before year-end, to have entered into a partnership that will meaningfully reduce NBH's 2Unify investment run rate. With that said, I'll turn the call over to John Finn. Thank you, Tim.

Today, I'm pleased to share more about the journey of 2Unify as we unlock the future of small business banking. Last quarter, we reached a significant milestone with the launch of our SBA working capital line. integrated seamlessly into our platform alongside our innovative business sweep deposit account. This achievement is a key moment in phase one of our multi-year strategy. Imagine a world for a small business owner can log in months and see their entire financial landscape, accounts, cash balances, and lending options all in one unified view. We are revolutionizing the client experience, well beyond traditional online banking, creating a seamless platform that helps a small business owner manage financial products and services across multiple banks and fintechs. With our integrated digital passport, we have transformed the application and onboarding process. Clients can provide their information once and eliminate the need to reiterate for additional products, while opening an interest-bearing account or applying for Our innovated passports will ultimately enable business owners to effectively shop for financial services across a broad set of financial service providers. Now that our foundational infrastructure is in place, we are shifting gears from constructing systems to activating services. We're launching with two essential capabilities that small business owners need, beginning with a convenient access to SBA working capital loans, as well as an automated nightly sweep that earns interest on excess deposits, which is functionality typically reserved for larger mid-market clients. Our custom middleware and microservices architectures enables us to deliver advanced features like real-time event notifications and tailored communications. Clients receive faster decisions with clear and concise updates, saving time and reducing stress for business owners. Our vision has always been clear, to build an integrated and seamless technology platform, not just another digital bank. Operating with a full-service banking charter, our scalable and secure architecture is supported by industry leaders like Finzac, Savannah, Visa, and Marquetta. This ensures we have the best tools at our disposal to serve our clients effectively. Leveraging our technology with Snowflake and Microsoft Azure positions us to enable enterprise-grade data insights and upcoming releases. Our data architecture will support AI-driven, customizable datasets, enabling QUnify to provide valuable cash flow insights and proactive product recommendations, based on clients' activity. This architecture also creates opportunities to develop new insights-based products and analytics-enabled services based on aggregated, anonymized data alongside deeper client analytics. As Tim has shared, we are optimistic about the formation of a partnership in 2026 that will accelerate our distribution and scale. Our cold service banking charter provides the partner with access to a tech forward platform, including the ability to offer FDIC and share deposit solutions nationwide. As we move forward beyond phase one, our investment in 2Unify will become more targeted with a step down in our capital expenditure run rate as the build phase gives way to more efficient operating profile. Importantly, we're scaling 2Unify deliberately. We will onboard clients responsibly and optimize our controls, which we believe will translate into quality conversions and a more durable relationship over time. We are prioritizing a high-quality onboarding experience with robust fraud mitigation, because as you know, building trust is foundational to long-term value creation. With a more efficient cost profile and a growing set of capabilities, we remain committed to building 2Unify into a marketplace that we believe will compound value for small business owners and our shareholders alike. I appreciate the opportunity to provide this update on 2Unify. I will now turn it back to Tim.

All right well thank you John. We covered a lot of ground this morning so Rachel I'll go ahead and ask you to open up the call for questions.

Thank you. If you would like to ask a question please signal by pressing star 1 on your telephone keypad if you are using a speaker phone please make sure your mute function is turned off to allow your signal to reach our equipment again please press star 1 to ask a question our first question comes from Jeff Rulis with DA Davidson good morning Jeff thanks morning Nicole that was a whirlwind of update if I could just rattle through a couple just to confirm You said 10% loan growth in 26 off the combined $9.4 billion balance, a margin for the full

year near 4% earnings over $1 in the fourth quarter and over $4 in 27. Is that right? Okay. And on the T Unified front, I think you said $2 to $4 million in revenue this year. What was the cost again for 26?

Yes, so that's correct, $2 to $4 million to unify revenue production for 2026, and we will be holding to unify expense flat in 2026, consistent with 2025, which was $22 million.

Got it. Thanks for that. And then it sounds like the partnership developing to sort of reduce those investment costs. I guess the leverage of the model in the 27 is a little bit TBD, but I guess the focus is as you scale it up, that's more of a break-even type climate in 27, and just I know that we're all this is developing, but trying to get a sense for what the 27 economics look like. incredibly focused activation with clients and driving revenue and really

testing the market with those services. Number two, as I shared, we are very focused on, frankly, could have the effect altogether where we would remain a meaningful investor as shareholders, but it would be treated in a very different fashion. But I'll come back to the first point, which is our Our focus today is on client activation with any kind of definitive targets on 27.

Yeah. No, that's helpful, Tim, just the range of options, including moving off the financials of the bank entirely, we'll stay tuned. Maybe just a pivot onto the credit side, the three loans that made up the bulk of the net charge-offs could you kind of identify that sort of category and why that group you know any systemic it sounds as if you expect credit metrics to further improve in 26 just trying to get a sense for what was charged off thanks I'm resolved and that simply wasn't the case the decision board and I felt like

prudent action.

Appreciate it. Thank you.

Thank you. And we will take our next question from Kelly Moda with KBW.

Hey, good morning. Thanks for the question. Maybe to kick it off with growth, I know, you know, we talked about 2025 year being, working through some credits and impacted by some payoffs and refinancing, but it sounds like the outlook for 26 is really strong in part with your Vista partnership that you you just brought on as you you look to I think it was 10% loan growth can you speak to the drivers of that growth if that's significantly Texas and other other markets where you're seeing opportunities just given the acceleration from you know what we've seen the past several quarters thank

Yeah. Hey, Kelly. This is all this. I'll kick off and then I'll have Don chime in. But yeah, it's a combination of all the markets and certainly the continuation of the strong production we saw in the fourth quarter, as I mentioned, it was our second highest loan production quarter for NBH standalone basis. In our company's history, we did really well on originating commercial loans. If you'd like to look at the CNI in the table, that grew north of 10% annualized. So we do see a very good momentum going into this year, and certainly adding markets like Texas and the expertise and teammates that we are adding through Vista acquisition is And John, maybe you can add on that front as well as touch on the resort markets.

Sure. Thanks, Aldis. And yeah, Kelly, we're really excited about the future growth potential, not only in Texas, but the resort markets and all the markets, candidly. I'm looking forward to getting to know the team members throughout all of the NBH markets and we believe in Texas that this platform that was built at NBH provides us not only the balance sheet that we need to continue to grow with our valued clients and but but support our exceptional bankers and in all this point we also have always believed that NBH has an incredible opportunity in the resort markets. Resort markets that, again, were once seen as second homes, but are now becoming primary residents in places where people want to have their local bank. And I hope at this time next quarter you'll see some performance-driven metrics and increased shareholder value around that. But the platform that we have at MD&H as a team is going to provide not only allow us to support the continued 20 plus percent gager on deposits and loan growth that we've historically had but it's also going to allow us to overcome a lot of the lack of fee income which Vista Bank has historically struggled with.

Got it that's really helpful. Maybe bouncing to a question on the margin it was it was down this quarter a bit more than I had expected with the low yields were there any interest reversals given what you what you had with credit and you know I appreciate the guy in the mid-390s to his X rate cuts but just if you could refresh us on clearly I think there's some so how we should be thinking through that thanks yeah Kelly good morning this is Nicole and yeah I'll I'll just reiterate, so our December margin did come in at a strong 3.97%.

We have managed, in our view, very well through 75 basis points of rate cuts in 2025. We experienced – or we drove nine basis points of margin expansion even with those rate cuts this year. There wasn't any interest reversals in the fourth quarter. The loans we worked through were already on non-accrual. But I will just reiterate, we've done a nice job with our deposit pricing. For prior rate cuts, we cut our deposit rates ahead of the Fed. This time we held and we waited until we knew exactly what the Fed was going to do, and so that did cause that lag and drag effect, but we have overcome that and finished the year with a strong margin of 3.97%.

Great. Thank you. Last one, if I could slip in just one more. On the To Unify guide, the expense guide that's flat at 22 million, I just wanted to confirm because you alluded to a potential partnership that could change the economics here, that that didn't bake in any, you know, potential impacts of maybe offloading some of those expenses, one. And then, two, with it flat, you know, I imagine getting – increasing the user base is an important part of driving those revenues higher. So I'm surprised it's flat. But so I guess if you could kind of speak to how you guys are thinking about that line item, given that we're not really seeing a change from last year.

Yeah, I appreciate you asking that question. I think it's important to note we see 2026 as a turning point for QUnify. And as I shared, we are seeing operating leverage from 2025, from QUnify in 2026. So the revenue guide is an increase from last year. So the $2 million to $4 million revenue guide, positive impact from 2025, and then holding expenses flat. It's actually very significant that we're holding expenses flat because we will have full year of capitalized asset depreciation in 2026 and so that expense flat includes that uptick in depreciation which is which is half of the 2026 expenses and then to your to your point on the partnership so no potential the partnership really from a financial perspective is all upside and none of that has been included in our guidance for 2026 thanks for all that

I'll step back appreciate you guys taking the questions thank you Kelly thank you and we will take our next question from Andrew Terrell with Stevens hey good morning hey good morning person just to clarify Nicole on on the margin was was the 397 was that spot at the end of the year or 397 for the full month of December 397 was for the full month of December okay and then you have the it sounds like there was a lag here where assets repriced quite a

bit quicker than deposits do you have where deposits either spot or interest bearing I mean either total or interest bearing were either in a month of December or on a spot basis at the end of the quarter yeah this is all the it was 182 is a spot deposit cost at the end of December for NBH but recall now starting in Q1 or starting now obviously we are incorporating all of the Vistas deposit base as well so it will change in a Q2 but I think what you're getting at is our spark margin is if you incorporate all of the benefit from deposits yep yep got it okay if I could ask just around the the to unify

specifically the partnership if I go back to October 10 when we talked about on the call it sounded like you were maybe pretty close on announcing something from a partnership standpoint it sounds like now you know that's still likely but maybe delayed a bit I guess I'm curious what's kind of causing a delay here or if there is a delay in your mind you know I may have made them as much as I did at that point candidly it perhaps even reflected too much optimism and I could kick myself for that I believe we were further along in consummating a partnership there but frankly you know when when you're

involving two parties you can you can have different needs expectations on either side that may not come together in the time frame that you expected so you wait what you need to hear from me today is that we are intensely focused on bringing the right partnership together and and moving to unify a run rate and imagine what that looks like if we're unified in all or in part off of our income statement so we're highly motivated to see something happen there Yep, got it.

And last for me, was there any – I appreciate the 2Unify guide, but was there any revenue in the fourth quarter realized? And then just on the buyback that you guys announced, maybe if you could speak to the appetite there.

Yeah, I can touch on the 2Unify revenue question. So we did have some revenue related to 2G Unify in the fourth quarter, but it wasn't meaningful. The second part was...

We have a strong interest in share buybacks. Fair enough. I believe you know we literally just announced $100 million buyback authorization, and we have a, frankly, priority at this point.

Great. Thanks for having questions.

Thank you. And we will take our next question from Brett Rabbitohm with Hefty Group.

Hey, good morning, everybody. I joined a little bit late, Tim, but wanted just to go back to, you know, you guys have had really strong loan originations, particularly here lately, but you can obviously the net growth has been limited due to payoffs. Can you talk maybe a little bit about, you know, what you've experienced or what you experienced during 4Q, you know, in terms of payoff activity and how that played out? And then just, you know, your confidence for 26, if I heard correct, 10% loan growth, you know, is there a net and gross assumption there or any thoughts on, you know, confidence on payoffs diminishing relative to what you've experienced the past few quarters in particular?

Aldis did touch on what we were seeing with insurance competition, the private debt market, but let's be candid. All banks, or most banks, would be facing that competition. I'll tell you there were just a number of situations where the kind of structures that were being put together and the pricing related to those deals just simply did not fit within our risk management framework. And so we're more than willing to let that business move along. But I think the broader context is the full year where we entered 2025 with, frankly, a risk-off mindset, having concerns about tariffs, having concerns about where the economy would land. And I would tell you that that position that we took was somewhat pervasive throughout the year to a point where when it was time to really turn things back on, I'm proud of the team's production, but I would tell you it was being done in a very, very concern. In the 26th, the combined force, we lay out these growth.

Yeah, what I would add is looking ahead in 2026, one thing that is a bit different in additional trucking is if you want to be so that's approximately.

I'm optimistic in various opportunities, but I'm very cool to know that because I don't think they kick the can down the road.

That's all really helpful. I'm sorry.

I was just saying as a shareholder and team member.

Yeah. That's all really helpful. And I think most inviteers are going to give you guys credit for the credit situations being truly one-off. So I don't think anybody's concerned about that. The other question I want to ask you, John, was just, you know, I think you're kind of known as a recruiter and, you know, you got this deal with MDH, but there's been significant disruption in a lot of the markets of the core operating pro forma company. Just wanted to hear, you know, if you had offers out or if there was a hiring effort pro forma or if it's too early and you're just still trying to combine everything before you maybe go too much on offense with market share opportunities related to disruption and just any thoughts on how you see that playing out.

Man, Brad, I appreciate that question. And I'll tell you, this is my first public earnings call and Tim told me not to make promises I can't keep. but I'll tell you this we are actively recruiting but I'll tell you we are actively retaining like I said most of our team members have been together for 20 years and I take so much joy in knowing that we have the best bankers providing these the opportunities and the inbound calls that we're receiving not from recruiters but from from bankers at the organizations in Texas and beyond to be a part of a culture that puts their people first is something like I've never seen. And I'm excited for my friends in Texas that announced the deal today. But I can assure you, I am recruiting. And I think we all should be in this incredibly crowded industry where we all eat out of each other's dog bowl. So I think that 26 could be a really good year if we're willing to dig in and I'm excited about digging in with the team that we've had in the past and more importantly getting out and getting to know the NBH team that that I have had a deep level of respect this this merger took place over five years of getting to know Tim Aldis in the entire NBH team and for if you would Brett just allow me to thank the team at Vista for their patience as we explored various opportunities but we think this is the this is a perfect partnership because of the way that they manage credit much like we do okay

great that's that's great color John thanks thanks thanks everybody thank you and I am showing we have no further questions at this time I will now turn the call back to mr. Laney for his closing remarks I'll just simply say thank you for your time today and if you have any follow-up questions do not hesitate to reach out directly have a good day and this concludes today's conference call if you would like to listen to the telephone replay of this call it will be available in approximately 24 hours and the link will be on the company's website on the investor relations page thank you very much and have a great day you may now disconnect