BOSTON and KANSAS CITY, Mo., March 8, 2011 /PRNewswire/ -- NBH Holdings Corp. (NBH) today announced the appointment of veteran banking executive, Richard U. Newfield, Jr., to its management team. Newfield joined NBH as chief risk officer after serving as the Business Services Credit Executive at Regions Bank. This latest hire strengthens the executive team as NBH prepares for the pending merger of Hillcrest Bank and Bank Midwest.
"Rick is a highly experienced, proven banker with an established track record of success in risk management and financial institution operations, integration of businesses during mergers and corporate governance," said Tim Laney, president and chief executive officer of NBH.
With NBH's recent acquisition of Bank Midwest and the eventual merging of Hillcrest Bank into the new Bank Midwest this spring, the holding company is well poised for additional growth. NBH is one of the best-capitalized bank holding companies in the U.S. and was specifically created to establish a high-performing, community-focused banking enterprise. NBH's goal remains to deliver a superior level of service and to be recognized for their commitment to their customers, colleagues, communities and investors. NBH has the leadership in place to execute their strategy of building a strong banking presence in the Midwest and to prepare to become a publicly traded bank holding company.
In his new role at NBH, Newfield will be responsible for risk management operations, including compliance, operational, credit and market risk as well as business services credit, credit operations, problem asset management, risk analytics and regulatory affairs. As the Business Services Credit Executive at Regions Bank, Newfield was responsible for oversight of business lending approvals and loan portfolio quality across all business client segments. During his 23 year tenure at Bank of America, he held various senior roles in risk management, credit, commercial banking, global bank debt and corporate marketing. Newfield brings significant experience to NBH in the areas of development and implementation of business models and integration of businesses during mergers. In addition, he has led credit process reengineering initiatives, including risk and credit policy design, and corporate governance. Newfield graduated from University of Florida with a Master's of Business Administration degree.
NBH is a community bank holding company created to build a leading community bank franchise delivering high quality customer service and strong shareholder results. NBH raised in excess of $1.0 billion through the sale of common stock in a private placement in late 2009. Led by a highly experienced and accomplished management team with a successful track record of operating large and complex financial institutions, NBH intends to become a publicly traded bank holding company.
Not an Offer. This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities in any state or jurisdiction.
Forward-Looking Statements. This press release contains forward-looking statements. Any statements about our expectations, beliefs, plans, predictions, forecasts, objectives, assumptions or future events or performance are not historical facts and may be forward-looking. These statements are often, but not always, made through the use of words or phrases such as "anticipate," "believes," "can," "could," "may," "predicts," "potential," "should," "will," "estimate," "plans," "projects," "continuing," "ongoing," "expects," "intends" and similar words or phrases. Accordingly, these statements are only predictions and involve estimates, known and unknown risks, assumptions and uncertainties that could cause actual results to differ materially from those expressed in them. Our actual results could differ materially from those anticipated in such forward-looking statements, including as a result of factors outside NBH's or DFC's control, such as economic and other conditions in the markets in which NBH, Bank Midwest and DFC operate; managements' ability to effectively execute their respective business plans; regulatory enforcement actions to which DFC, NBH and/or Bank Midwest are currently and may in the future be subject; changes in capital classification; changes in the economy affecting real estate values; inability to attract and retain deposits; changes in the level of non-performing assets and charge-offs; changes in the financial performance and/or condition of borrowers; inflation, interest rate, cost of funds, securities market and monetary fluctuations; changes in laws and regulations; and competition. All forward-looking statements are necessarily only estimates of future results, and there can be no assurance that actual results will not differ materially from expectations, and, therefore, you are cautioned not to place undue reliance on such statements. Further, 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.
SOURCE NBH Holdings Corp.