National Bank Holding in Denver reported lower quarterly earnings after charging off a credit due to suspected fraud by a borrower.
The $10.1 billion-asset company said in a press release that its first-quarter net income fell by 23% from a year earlier, to $24.2 million. The company recorded $10.2 million of provision expense, largely due to the problematic loan.
National Bank provided no other details about the borrower or the loan.