National Bank Holdings Corp. (NYSE:NBHC) completed its acquisition of Vista Bancshares and its subsidiary Vista Bank on Wednesday, creating a regional banking powerhouse with approximately $12.6 billion in pro forma assets.
The $377.4 million deal, based on Tuesday’s closing price, significantly expands the Denver-based lender’s footprint into the high-growth markets of Texas and Florida.
Under the terms of the agreement, Vista shareholders received 3.1161 NBHC shares and $31.62 in cash for each share held, resulting in Vista investors owning roughly 16% of the combined entity on a fully diluted basis.
The transaction, which includes $10.7 billion in pro forma deposits, marks a major step in National Bank Holdings' strategy to capitalize on commercial lending opportunities in the Southern U.S.
While the legal close is effective immediately, the company expects to finish the technical systems integration by the third quarter of 2026.