NBHC - National Bank Holdings acquires deposit acquisition processing platform Cambr

2023-04-19 16:58:37 ET

• National Bank Holdings ( NYSE: NBHC ) said Wednesday its bank unit NBH Bank acquired StoneCastle Partners' subsidiary StoneCastle Digital Solutions , d/b/a Cambr.
• Terms were not disclosed.
• Cambr, a deposit acquisition and processing platform, administers ~$1.7B of deposits comprising over 500K FDIC-insured cash accounts.
• When added to NBH's banking competencies, Cambr is expected to bring expanded capabilities for embedded finance companies and widen client base.
• The platform will continue to go-to-market under the Cambr brand and will operate as a separate unit of NBH Bank.
• National Bank Holdings ( NBHC ) also reported better-than-expected Q1 results.

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