National Bank (NBHC) announced that it sold approximately $130M of available-for-sale, or AFS, investment securities on the open market. The securities sale is part of the company’s strategy to proactively maximize the balance sheet with the goal of driving future earnings. The securities sold represented approximately 20% of the company’s AFS portfolio and resulted in an after-tax loss of approximately $5M that will be recorded in the fourth quarter of 2024. Proceeds from the sale will be redeployed over time into higher yielding securities.
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