National Bank Holdings Corporation announced that its bank subsidiary NBH Bank has recently acquired StoneCastle Digital Solutions, LLC (d/b/a Cambr), a subsidiary of StoneCastle Partners, LLC.
Cambr is a unique deposit acquisition and processing platform that generates core deposits from accounts offered through embedded finance companies. Today, Cambr administers approximately $1.7 billion of deposits comprising more than 500,000 FDIC-insured cash accounts.
Cambr’s business-to-business-to-consumer (B2B2C) model leverages the customer base and marketing spend across a wide range of embedded finance companies to source granular, diversified cash deposits in a highly cost-efficient manner. Much of the underlying deposits are transaction accounts. When combined with NBH’s existing banking competencies, the Cambr platform is expected to bring expanded capabilities for embedded finance companies while also expanding to serve clients across a broader set of sectors.
“Cambr provides us the ability to significantly grow our core deposits with very little incremental overhead,” said Tim Laney, Chairman, President and Chief Executive Officer of National Bank Holdings Corporation. “Cambr’s high-touch, low-cost model adds a highly scalable client base that delivers deposits at a significantly lower cost than our traditional retail accounts. The Cambr deposit channel provides NBH with a truly unique source of liquidity and diversifies our funding capabilities and lowers our all-in funding costs.”
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Cambr will continue to go-to-market under the Cambr brand and will operate as a separate subsidiary of NBH Bank.
Piper Sandler & Co served as financial advisor and Wachtell, Lipton, Rosen & Katz served as legal advisor to NBH.
Keefe, Bruyette & Woods, a Stifel Company, served as exclusive financial advisor and Gibson Dunn & Crutcher LLP served as legal advisor to StoneCastle.
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