NEW
YORK, April 19, 2023 /PRNewswire/ -- StoneCastle
Partners, LLC announced today that it has sold its subsidiary
StoneCastle Digital Solutions, LLC (d/b/a Cambr) to National Bank
Holdings Corporation's (NYSE: NBHC) bank subsidiary NBH Bank
("NBH").
Cambr is a deposit acquisition platform that provides cash
processing solutions to leading embedded finance companies.
StoneCastle Partners developed Cambr to provide a low-cost,
scalable and diversified deposit channel for a future bank owner.
During its two-decade history, StoneCastle Partners has built
numerous businesses that utilize non-traditional strategies to
create efficiencies in financial services.
"Cambr provides an opportunity for a bank owner to source
deposits in a unique way while continuing to provide leading
service to top-tier embedded finance companies," said Joe Healey, Managing Director and operating
partner at StoneCastle Partners. "The platform allows a bank to
benefit from the diversified deposits of hundreds of thousands of
underlying accounts with virtually no marginal overhead or customer
acquisition costs. We believe that banks who efficiently source
deposits through differentiated and durable strategies will
significantly outperform over the long-term."
Cambr will continue to go-to-market under the Cambr brand and
will operate as a separate subsidiary of NBH Bank. Financial terms
of the transaction were not disclosed.
Keefe, Bruyette & Woods, a Stifel Company, served as
exclusive financial advisor and Gibson Dunn & Crutcher LLP
served as legal advisor to StoneCastle.
Piper Sandler & Co. served as
financial advisor and Wachtell, Lipton, Rosen & Katz served as
legal advisor to NBH.
About StoneCastle Partners, LLC
Founded in 2003,
StoneCastle Partners develops businesses focused on banking and
associated technologies. StoneCastle Partners creates innovative
platforms and disruptive technology to enhance or redefine
inefficient banking processes. For the past 19 years, StoneCastle
Partners has built and sold platforms to strategic buyers,
including banks, asset managers, and fintechs. Over 1,000 banks
trust StoneCastle Partners and use its companies' products; for
more information, visit www.scpdevco.com.
About National Bank Holdings Corporation
National Bank
Holdings Corporation is a Denver-based bank holding company created to
build a leading community bank franchise delivering high quality
client service and committed to stakeholder results. Through its
bank subsidiaries, NBH Bank and Bank of Jackson Hole Trust,
National Bank Holdings Corporation operates a network of over 95
banking centers, serving individual consumers, small, medium and
large businesses, and government and non-profit entities. Its
banking centers are located in its core footprint of Colorado, the greater Kansas City region, Utah, Wyoming, Texas, New
Mexico and Idaho. Its
comprehensive residential mortgage banking group primarily serves
the bank's core footprint. Its trust business is operated in its
core footprint under the Bank of Jackson Hole Trust charter. NBH
Bank operates under a single state charter through the following
brand names as divisions of NBH Bank: in Colorado, Community Banks of Colorado and Community Banks Mortgage; in
Kansas and Missouri, Bank Midwest and Bank Midwest
Mortgage; in Utah, Texas, New
Mexico and Idaho,
Hillcrest Bank and Hillcrest Bank
Mortgage; and in Wyoming, Bank of
Jackson Hole and Bank of Jackson
Hole Mortgage. For more information, visit
www.nationalbankholdings.com.
CAUTION REGARDING FORWARD-LOOKING STATEMENTS
This communication, and all oral statements made regarding the
subject matter of this communication, contain "forward-looking"
statements as that term is defined in Section 27A of the Securities
Act of 1933, as amended, and Section 21E of the Securities Exchange
Act of 1934, as amended by the Private Securities Litigation Reform
Act of 1995, including statements regarding the proposed
acquisition. Such forward-looking statements reflect current views
with respect to future events and financial performance. Statements
that include the words "should," "would," "expect," "intend,"
"plan," "believe," "project," "anticipate," "seek," "will," and
similar statements of a future or forward-looking nature identify
forward-looking statements in this material for within the meaning
of the federal securities laws. All such forward-looking statements
involve estimates and assumptions that are subject to risks,
uncertainties and other factors that could cause actual results to
differ materially from the results expressed in the statements.
Among the key factors that could cause results to differ materially
from those projected in the forward-looking statements are the
following: the impact that any litigation may have on the parties
or the transaction; and the impact of potential legislative,
regulatory and competitive changes. Any forward-looking statements
speak only as of the date of this communication. StoneCastle
Partners undertakes no obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise. You are cautioned not to place
undue reliance on these forward-looking statements that speak only
as of the date hereof.
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SOURCE StoneCastle Partners, LLC