By Chris Dieterich
NEW YORK--National Bank Holdings Corp. NBHC -1.58% rose in its public-trading debut, the first of two regional banks going public Thursday.
The bank's shares opened at $20.25 on the New York Stock Exchange, up 5.2% from its $19.25 offering price. On Wednesday, National Bank sold 7.15 million shares below its expected range of between $20 and $22.
Shares rose 3.1% to $19.84 around 10 a.m.
The company operates a network of 101 banks mostly in the greater Kansas City area and across Colorado.
The bank's strategic plan is to expand through selective acquisitions. Since October 2010, the bank has completed four deals.
Its competition includes the banking operations of larger rivals such as Bank of America Corp. (BAC) and Bank of the West, a subsidiary of BNP Paribas.
National Bank Holdings has been able to turn profits since the fourth quarter of 2010. As of June 30, the bank had about $5.8 billion in assets, with $4.5 billion in deposits.
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