(photo courtesy of Denver Business Journal)
In 2008, banks were in crisis. With excessive risk taking and massive bail-outs, followed by economic downturn, consumers were panicked and losing confidence in the financial system. One man who had experience in rescuing banks and turning them into successful financial institutions saw an opportunity to help form a network of community banks that focused on personal service and putting people first.
In 2009, the late Frank V. Cahouet, former chairman of Mellon Bank, joined forces with a group of institutional investors and former bankers to form National Bank Holdings Corporation after it raised more than $1 billion to acquire banks. Shortly after, he helped National Bank Holdings Corporation complete acquisitions of Bank Midwest, Community Banks of Colorado and Hillcrest Bank under our subsidiary, NBH Bank.
For the next eight years, Mr. Cahouet had the pleasure of seeing his vision become reality. With a strong management team and network of banks that focused on needs-based, common sense solutions, the bank was growing and clients’ confidence in our ability to deliver an exception banking experience increased.
He was also a philanthropist, donating funds to create the Cahouet Center for Comprehensive Parkinson’s Care at Allegheny Health Network, which opened in April 2016.
Mr. Cahouet passed away on June 20, 2017. In a 2014 Denver Business Journal article about Mr. Cahouet’s retirement from the board of directors, our Chairman, President and CEO, Tim Laney described him as a legend.
When discussing his passing, Mr. Laney had this to say of his mentor and friend, “Mr. Cahouet had a very strong spirit and a great passion for our success. He will be deeply missed.”