National Bank Holdings Corporation / "Research and Development" | Tables in SEC filings

NBHC National Bank Holdings Corporation

Annual report


	December 31, 2023		December 31, 2022
Deferred tax assets:
Net unrealized losses on investment securities	$	24,367	$	26,938
Allowance for credit losses		23,685		20,967
Lease liability		7,764		8,549
Accrued compensation		4,939		4,535
Accrued stock-based compensation		2,116		1,742
Capitalized research and development costs		1,108		783
Nonaccrual interest income		1,083		812
Net unrealized losses on equity securities		945		—
Capitalized start-up costs		591		891
Net operating loss		461		507
Excess tax basis of acquired loans over carrying value		438		625
Other reserves		434		814
Other real estate owned		425		369
Net deferred loan fees		419		—
Accrued expenses		192		942
Other		1,890		1,087
Total deferred tax assets		70,857		69,561
Deferred tax liabilities:
Intangible assets		(11,883)		(9,943)
Right of use assets		(7,404)		(8,300)
Premises and equipment		(4,840)		(4,722)
Mortgage servicing rights		(1,702)		(2,769)
Excess book basis in partnerships		(908)		(989)
Net deferred loan fees		—		(383)
Other		(2,458)		(738)
Total deferred tax liabilities		(29,195)		(27,844)
Net deferred tax asset	$	41,662	$	41,717


	For the years ended December 31,
	2023		2022		2021
Income tax at federal statutory rates (21%)	$	36,876	$	18,098	$	24,144
State income taxes, net of federal benefits		3,791		2,067		2,601
Tax-exempt loan interest income		(4,437)		(5,208)		(4,862)
Research and development tax credit		(2,400)		—		—
Non-deductible compensation		642		514		852
Stock-based compensation		(345)		(402)		(733)
Bank-owned life insurance income		(777)		(374)		(603)
Non-deductible acquisition costs		—		427		—
Other		204		(212)		(34)
Income tax expense	$	33,554	$	14,910	$	21,365

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