National Bank Holdings in Denver has agreed to buy Vista Bancshares in Dallas.
The $9.9 billion-asset parent of NBH Bank said in a press release that it will pay $369.1 million in cash and stock for the $2.4 billion asset Vista. The deal, which is expected to close in the first quarter, priced Vista at 152% of its tangible book value.
Vista has $2.1 billion of deposits, $1.9 billion of loans, and 11 branches. NBH Bank plans to keep the Vista brand in Texas and incorporate across the combined enterprise over time.
The acquisition “expands our footprint within the dynamic and fast-growing Dallas-Fort Worth metroplex,” Tim Laney, National Bank’s chairman and CEO, said in the release. “The combination of our fortress balance sheet and Vista’s exceptional client service enables us to offer differentiated and expanded banking services for clients, enhanced career opportunities for associates, and a strong commitment to making a difference in the communities we serve. “
John Steinmetz, Vista’s CEO, will lead the Texas market as executive vice chair and executive managing director of strategic initiatives at NBH Bank. A Vista director will join National Bank’s board.
The deal should be 17% accretive to National Bank’s 2026 earnings per share. It should take about three years for National Bank to earn back an estimated 7.8% dilution to its tangible book value.
Keefe, Bruyette & Woods and Wachtell, Lipton, Rosen & Katz advised National Bank. Jefferies and Squire Patton Boggs advised Vista.