National Bank to acquire Vista Bancshares for $369.1M

National Bank (NBHC) Holdings announced the signing of a definitive merger agreement to acquire Vista Bancshares, the holding company for Vista Bank with operations in Dallas-Ft. Worth, Austin, and Lubbock, Texas, as well as Palm Beach, Florida. Under the terms of the agreement, Vista shareholders will receive approximately $84.8M of cash consideration, inclusive of estimated cash payments to holders of Vista options and warrants, and approximately 7.4M shares of NBHC common stock, subject to certain potential adjustments. The transaction has a value of $369.1M in the aggregate, based on NBHC’s closing price of $38.47 on September 12, 2025. The proposed transaction has been unanimously approved by the organizations’ respective boards of directors, and is subject to the approval of Vista’s shareholders, applicable regulatory approvals, and other customary closing conditions. NBHC expects to close the proposed transaction in Q1 2026.