NBH Holdings Corp. raised $1.15 billion through a private stock placement to over 70 institutional investors. The funds will be used to build a leading community banking franchise focused on serving retail and business customers through acquisitions and organic growth. James Connolly, an experienced banking executive, leads an experienced management team as President and CEO.

1. NBH HOLDINGS CORP. RAISES $1.15 BILLION TO CREATE
COMMUNITY BANKING FRANCHISE
Led by James G. Connolly and a Highly Experienced Management Team
BOSTON, MA – October 20, 2009 – NBH Holdings Corp. (“NBH”), a recently-formed
corporation led by veteran banking executives, announced today that it has raised gross
proceeds of $1.15 billion through the sale of common stock in a broadly distributed
private placement. The shares were purchased by over 70 non-control institutional
investors, none of whom will have a Board seat, an economic interest in excess of 9.9%,
or a voting interest in excess of 4.9% (other than mutual funds that may own a voting
interest of up to 9.9%). NBH, which intends to apply to become a bank holding
company, expects to use the proceeds of the offering to build a leading community
banking franchise focusing on serving the needs of retail and business customers. NBH
will seek to achieve this goal through a combination of disciplined acquisitions and
organic growth.
James G. Connolly is NBH’s President and Chief Executive Officer. An accomplished
banking executive with over 23 years of industry experience, he previously served as
President and a Director of Citizens Financial Group, a $153 billion bank holding
company. Mr. Connolly leads a team of proven bankers that has worked together for
numerous years, and which has an established track record of success and significant
experience in risk management, acquisitions, integration, and organic growth. NBH’s
executive management team includes James B. Fitzgerald, Chief Financial Officer,
Thomas M. Metzger, Chief Risk Officer, and Donald Gaiter, Chief of Acquisitions and
Strategy. NBH will be overseen by a highly-credentialed Board of Directors chaired by
Frank V. Cahouet, former Chairman, President, and Chief Executive Officer of Mellon
Financial Corporation.
Mr. Connolly said, “We are pleased to have completed this equity offering. We are eager
to begin the process of creating a high-performing, community-focused banking
enterprise that delivers a superior level of service and is recognized for its commitment to
its customers, employees and investors. The current recapitalization of the U.S. banking
industry provides a unique opportunity for NBH, and we appreciate the confidence that
our investors have placed in us.”
The private placement transaction was executed pursuant to Rule 144A of the Securities
Act of 1933 and other exemptions. The company will seek to make control investments
in one or more U.S. banking institutions over time.
FBR Capital Markets Corporation (Nasdaq: FBCM) served as financial advisor and
placement agent for the offering. Wachtell, Lipton, Rosen & Katz served as NBH’s legal
advisor.
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2. About NBH Holdings Corp.
NBH Holdings Corp. was created to build a leading community bank franchise delivering
high quality customer service and strong shareholder results. Led by a highly
experienced and accomplished management team with a successful track record of
operating large and complex financial institutions, NBH intends to apply to become a
bank holding company.
Forward Looking Statements
This document includes “forward-looking statements” within the meaning of Section 27A of the Securities
Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such
statements may include, but are not limited to, statements about our future financial and operating results
as well as our plans, objectives, expectations and intentions. These statements are subject to a number of
risks, uncertainties and other factors that could cause our actual results, performance, prospects or
opportunities to differ materially from those expressed in, or implied by, these statements. You can identify
these statements by the fact that they do not relate to matters of a strictly factual or historical nature and
generally discuss or relate to forecasts, estimates or other expectations regarding future events. Generally,
the words “believe,” “expect,” “intend,” “estimate,” “anticipate,” “project,” “may,” “can,” “could,”
“might,” “will” and similar expressions identify forward-looking statements, including statements related
to expected operating and performing results, planned transactions, planned objectives of management,
future developments or conditions in the banking industry and other trends, developments and uncertainties
that may affect our business in the future. Such risks, uncertainties and other factors include, among other
things: (i) our status as a recently organized corporation; (ii) our ability to identify potential candidates
for, and consummate, investment transactions; (iii) the timing of investment transactions and our
dissolution and liquidation if we fail to enter into a definitive agreement with respect to a Qualified
Investment Transaction by the Investment Transaction Deadline (each as defined in our Certificate of
Incorporation); (iv) the reduction of the proceeds held in our investment account due to third party claims
or other expenses and liabilities; (v) the possibility that we would issue shares of our capital stock or debt
securities to complete an investment transaction; (vi) constraints on our ability to consummate an
attractive investment transaction due to our limited resources and the significant competition for
investment transaction opportunities; (vii) changes in the regulatory environment; (viii) conflicts of interest
of our directors and officers; (ix) potential future affiliations of our officers and directors with competing
businesses; (x) the existence of registration rights with respect to the securities being offered; (xi) the lack
of a market for our securities; (xii) our being deemed an investment company; (xiii) our ability to obtain
additional financing, if required, to complete an investment transaction or to fund the operations and
growth of our business; and (xiv) our ability to integrate acquisitions and to achieve synergies, operating
efficiencies and/or other expected benefits within expected time-frames or at all, or within expected cost
projections, and to preserve the goodwill of acquired businesses. Any forward-looking statement speaks
only as of the date on which it is made, and we undertake no obligation to update any forward-looking
statement to reflect events or circumstances after the date on which the statement is made or to reflect the
occurrence of unanticipated events.
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Media Contacts:
Denise DesChenes/Kathryn Kranhold
Sard Verbinnen & Co
212-687-8080
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