National Bank Holdings in Denver repositioned its securities portfolio.
The $10 billion-asset company said in a press release that it sold $130 million of available-for-sale investment securities, purging about a fifth of its portfolio. The company will record a $5 million after-tax loss from the sale.
Proceeds will be redeployed over time into higher-yielding securities.
“Through our solid capital position, we are able to effectively manage our balance sheet while enhancing future earnings growth for our shareholders,” Chairman and CEO Tim Laney said in the release.