GBank Financial Holdings Inc. Announces Second Quarter 2026 Financial Results
Rhea-AI Summary
GBank Financial Holdings (NASDAQ: GBFH) reported second quarter 2026 net income of $5.5 million, or $0.38 per diluted share, up from $1.3 million, or $0.09, in the first quarter and $4.8 million, or $0.33, a year earlier. According to GBank Financial Holdings, net revenue reached a record $22.0 million, up 11.7% sequentially and 23.5% year-over-year, driven by higher net interest income and a $5.5 million gain on $110.1 million of loan sales.
Total assets were $1.4 billion and total assets under management, including $1.2 billion of sold loans with retained servicing, were $2.6 billion. Book value per share rose to $11.94, up 3.1% from March 31, 2026 and 12.3% from June 30, 2025. Net interest margin declined to 3.78%, while the allowance for credit losses increased to $12.4 million amid higher non-performing assets of $23.3 million, or 1.63% of total assets. The company also highlighted the BVNKROLL/AXES agreement, the first client contract for its BVNKROLL joint venture targeting cashless casino payments.
Positive
- Record net revenue of $22.0 million, up 11.7% QoQ and 23.5% YoY
- Net income of $5.5 million, up from $1.3 million in Q1 2026
- Gain on loan sales $5.5 million on $110.1 million loans sold, margin 5.04%
- Total assets under management $2.6 billion, including $1.2 billion sold loans serviced
- Book value per share up 12.3% YoY to $11.94
- BVNKROLL/AXES agreement becomes first signed client contract for BVNKROLL JV
Negative
- Net interest margin fell to 3.78% from 3.86% in Q1 2026 and 4.31% in Q2 2025
- Provision for credit losses rose to $2.8 million versus $2.3 million in Q1 2026
- Non-performing assets increased to $23.3 million, 1.63% of total assets
- Net loan charge-offs of $1.2 million, 0.42% of average net loans (annualized)
- Allowance for credit losses increased to $12.4 million, 1.19% of total loans
- Elevated credit card delinquencies contributed to a $771 thousand reserve increase
News Explained
Credit stress was the main balance-sheet change: non-performing assets reached $60.2 million by June 30, including $23.3 million excluding guaranteed portions.
GBank Financial Holdings reported results for the quarter ended
The reported total includes
The increase was driven by
The allowance for credit losses increased to
Market reaction after 2Q26 earnings report: GBFH -29.98% in the Jul 30 session
In the Jul 30 session, GBFH declined 29.98%, reflecting a significant negative market reaction. Argus tracked a trough of -30.3% from its starting point during tracking. Our momentum scanner triggered 63 alerts that day, indicating high trading interest and price volatility. Trading volume was exceptionally heavy at 7.3x the daily average, suggesting significant selling pressure.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Previous Earnings Reports
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Apr 29 | Q1 earnings report | Positive | +4.6% | Quarterly results included net income, adjusted earnings, and credit card fraud disclosures. |
| Jan 28 | Q4 earnings report | Positive | -4.7% | Record quarterly and full-year earnings were reported alongside operating and lending highlights. |
| Oct 28 | Q3 earnings report | Positive | -0.9% | Quarterly revenue and originations increased despite unusual expenses and higher nonaccrual loans. |
| Oct 24 | Release date update | Neutral | -2.6% | The company changed the scheduled release date for third-quarter financial results. |
| Jul 28 | Q2 earnings report | Positive | -12.1% | Quarterly earnings and record SBA lending were reported with credit-card volume challenges. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Earnings-tagged events averaged a -3.15% 24-hour move, with four of five reactions diverging from the reported event direction.
Key Terms
net interest margin financial
pre-provision net revenue financial
non-performing assets financial
available for sale mortgage-backed securities financial
non-gaap financial measures financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
LAS VEGAS, July 29, 2026 (GLOBE NEWSWIRE) -- GBank Financial Holdings Inc. (the “Company”) (NASDAQ: GBFH), the parent company of GBank (the “Bank”), today reported net income of
Second Quarter 2026 Comments (Unaudited)
- Net revenue(1) of
$22.0 million , a record quarter for the Company, and an11.7% increase compared to the first quarter of 2026 - Pre-provision net revenue(1) of
$10.0 million , up$6.2 million from$3.8 million for the first quarter of 2026 - Total assets under management, including
$1.2 billion of sold loans for which servicing is retained, were$2.6 billion as of June 30, 2026 - Net Interest Margin declined to
3.78% from3.86% in the quarter ended March 31, 2026. A decline in yield on Loans and Loans Held For Sale (“Loans”) to7.31% from7.38% was the primary driver of this decline, however average balances of Loans increased$60.5 million in the quarter resulting in an increase in interest income on Loans of$1.1 million over the previous quarter. - Gain on loan sales of
$5.5 million on loans sold of$110.1 million , compared to gain on loan sales of$3.8 million on loans sold of$79.0 million for the first quarter of 2026 - Gain on loan sales margin(1) of
5.04% compared to4.79% for the first quarter of 2026 - U.S. Small Business Administration (“SBA”) lending and commercial banking loan originations of
$132.3 million , compared to$208.1 million for the first quarter of 2026 - Non-performing assets, excluding guaranteed portions(1), of
$23.3 million as of June 30, 2026, representing1.63% of total assets compared to$13.2 million as of March 31, 2026, representing0.70% of total assets
Comments from Ed Nigro, Executive Chairman and CEO
“First, I want to welcome GBank President/CEO and Director, Jeff Newgard. Since June 8th, we have hit the ground running and he has my utmost respect and admiration – he is a valued addition and I’m confident we are going to achieve great things together.”
“Also, despite several near-term challenges during the quarter, the core bank remains fundamentally strong with substantive growth. We generated record revenues, maintained strong loan production, and continue to originate high-quality assets at attractive yields. While elevated nonperforming assets, retail credit card delinquencies, and net interest margin pressure impacted quarterly results, we have taken decisive actions to strengthen credit administration, optimize our balance sheet, and position the Bank for improved financial performance going forward,” continued Mr. Nigro.
“Most importantly, the recently announced BVNKROLL/AXES agreement is a significant accomplishment and requires additional comment. First, within 90 days of announcing the formation of the BVNKROLL – a joint venture equally owned by BoltBetz and our affiliate BCS, owned
Financial Results
Income Statement
Net interest income totaled
The increase in net interest income when compared to both the first quarter of 2026 and the same quarter of 2025 was primarily volume driven, as higher interest income from growth in average loan, interest-bearing cash balances, and investments more than offset increases in interest expense resulting from higher average balances of interest-bearing deposits.
The yield on investment securities was
The Company’s net interest margin for the second quarter of 2026 was
The Company recorded a provision for credit losses on loans of
Non-interest income was
Net revenue(1) totaled
Non-interest expense was
The Company’s efficiency ratio was
Income tax expense was
Net income was
(1) See Reconciliation of Non-GAAP Financial Measures
Balance Sheet
Total assets were
The investment securities portfolio increased by
Total loans, net of deferred fees and costs, were
The Company’s allowance for credit losses totaled
Deposits totaled
The Company’s ratio of loans to deposits was
The Company had no short-term borrowings as of June 30, 2026, March 31, 2026, and June 30, 2025. As of June 30, 2026, the Company had approximately
Subordinated notes outstanding totaled
Stockholders’ equity was
The Company’s ratio of common equity to total assets was
Asset Quality
The Company recorded a provision for credit loss expense for loans of
(1) See Reconciliation of Non-GAAP Financial Measures
The Company’s allowance for credit losses totaled
Net loan charge offs in the second quarter of 2026 totaled
The balance of other real estate owned increased to
Non-performing assets totaled
Our non-performing assets to total assets ratio was
The Company continuously monitors its non-performing asset portfolio and believes the financial risk related to these assets is well contained. In making this assessment, it is important to consider the process we undertake when a collateralized SBA non-performing asset requires collection efforts. Historically, we have repurchased the sold portion of the government guaranteed loan to complete the foreclosure and resale of the property. This process immediately increases the non-performing asset balance on our balance sheet to include the government guaranteed portion – thus the importance of always adjusting for the government guaranteed portion of the non-performing assets as well as considering our “off balance sheet” assets consisting of the sold portion of USDA and SBA guaranteed loans of
Other Financial and Operational Highlights
SBA Lending and Commercial Banking
SBA lending and commercial loan originations totaled
We continue to see improvement in our pretax gain on sale of loans margin as the average pretax gain on sale of loans margin was
(1) See Reconciliation of Non-GAAP Financial Measures
Gaming and Financial Technology Operations
Our Gaming and Financial Technology businesses continue their transition from development to commercialization and scale. During the quarter, Bankroll LLC ("BVNKROLL"), our partner through our equity investment in BankCard Services, LLC ("BCS"), entered into an agreement with AXES AI that expands the availability of our slot and gaming payments platform to sixty-seven operators across twelve states. In addition, AXES' Intelligent Management System ("AXES IMS") platform may provide future growth opportunities for the expansion of our payments and account infrastructure.
Credit Card
Gaming-related credit card transaction volume declined to
During the quarter, we recorded an additional provision for credit losses of approximately
Despite the recent decline in sports betting-related transaction volume, we continue to believe there is a significant opportunity for gaming-focused credit products within traditional casino and distributed gaming markets. We intend to integrate both our credit and prepaid card products as funding sources within BVNKROLL and BoltBetz-supported wallet platforms, which we believe may provide additional opportunities for transaction, deposit, and fee-based revenue.
Visa Prepaid Card
Our Visa Prepaid Card program is currently in testing, with commercial launch expected during the fourth quarter of 2026. The card will be integrated with GBank's PPA infrastructure, providing account functionality and connectivity within our gaming payments ecosystem.
The card will also be integrated into BVNKROLL-supported wallet platforms, enabling customers to move funds between participating gaming operators and affiliated payment channels. We believe this product will enhance our gaming payments offering and provide additional opportunities for transaction, deposit, and fee income growth.
BVNKROLL
During the first quarter, we announced the formation of the BVNKROLL/BCS joint venture. During the second quarter, BVNKROLL further expanded its potential market reach through its agreement with AXES AI.
The AXES relationship reflects the distinction between our BoltBetz and BVNKROLL platforms. BoltBetz operates as a direct-to-operator platform through which we manage operator relationships and the patron experience. BVNKROLL functions as an infrastructure platform that enables enterprise partners to utilize our technology and banking infrastructure while maintaining ownership of operator relationships, branding, marketing, and business development activities. As additional operators are added through the AXES platform, new patron PPA accounts may be established with GBank without requiring corresponding incremental direct marketing expenditures by the Company.
BoltBetz
During the second quarter of 2026, Terrible's Gaming received approval from the Nevada Gaming Control Board to deploy the BoltBetz platform with GBank holding player funds. The approval was received approximately 60 days after application submission which is reflective of the prior approved BoltBetz/GBank process.
The BoltBetz deployment at Distill Taverns continues to provide meaningful data regarding patron adoption and usage patterns. Following the implementation of Version 2 platform enhancements, customer registrations increased approximately fourfold. Initial operating results indicate limited customer resistance to identity verification requirements necessary for regulatory compliance. Current efforts are focused on increasing customer registrations, visit frequency, and patron engagement as deployment continues to expand.
Earnings Call
The Company will host its second quarter 2026 earnings call on Wednesday, July 29, 2026 at 2:00 p.m. PST. Interested parties can participate remotely via Internet connectivity. There will be no physical location for attendance.
Interested parties may register for the event using this link:
https://gbank-financial-earnings-q226.open-exchange.net/registration
About GBank Financial Holdings Inc.
GBank Financial Holdings Inc. is a bank holding company headquartered in Las Vegas, Nevada and is listed on the Nasdaq Capital Market under the symbol “GBFH.” Through our wholly owned bank subsidiary, GBank, we operate two full-service commercial branches in Las Vegas, Nevada to provide a broad range of business, commercial and retail banking products and services to small businesses, middle-market enterprises, public entities and affluent individuals in Nevada, California, Utah, and Arizona. Please visit www.gbankfinancialholdings.com for more information.
Non-GAAP Financial Measures
Some of the financial measures included in this press release are not measures of financial performance recognized in accordance with generally accepted accounting principles in the United States (“GAAP”). The Company believes these non-GAAP financial measures provide both management and investors a more complete understanding of the Company’s financial position and performance. These non-GAAP financial measures are supplemental and are not a substitute for any analysis based on GAAP financial measures.
We classify a financial measure as being a non-GAAP financial measure if that financial measure excludes or includes amounts, or is subject to adjustments that have the effect of excluding or including amounts, that are included or excluded, as the case may be, in the most directly comparable measure calculated and presented in accordance with GAAP as in effect from time to time in the United States in our statements of income, balance sheets or statements of cash flows. Not all companies use the same calculation of these measures; therefore, this presentation may not be comparable to other similarly titled measures as presented by other companies.
A reconciliation of non-GAAP financial measures to GAAP financial measures is provided at the end of this press release.
Available Information
The Company routinely posts important information for investors on its web site (under www.gbankfinancialholdings.com and, more specifically, under the News & Media tab at www.gbankfinancialholdings.com/press-releases). The Company intends to use its web site as a means of disclosing material non-public information and for complying with its disclosure obligations under Regulation FD (Fair Disclosure) promulgated by the U.S. Securities and Exchange Commission (the “SEC”). Accordingly, investors should monitor the Company’s web site, in addition to following the Company’s press releases, SEC filings, public conference calls, presentations and webcasts.
The information contained on, or that may be accessed through, the Company’s web site is not incorporated by reference into, and is not a part of, this document.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements reflect the Company’s current views with respect to future events and the Company’s financial performance. Any statements about the Company’s 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, and include, but are not limited to, statements made by Mr. Nigro. The Company cautions that the forward-looking statements in this press release are based largely on the Company’s expectations and are subject to a number of known and unknown risks and uncertainties that are subject to change based on factors which are, in many instances, beyond the Company’s control. Factors that could cause such changes include, but are not limited to, (i) the impact on us and our customers of a decline in general economic conditions and any regulatory responses thereto; (ii) potential recession in the United States and our market areas; (iii) the impacts related to or resulting from uncertainty in the banking industry as a whole; (iv) increased competition for deposits in our market areas and related changes in deposit customer behavior; (v) the impact of changes in market interest rates, whether due to a continuation of the elevated interest rate environment or further reductions in interest rates and a resulting decline in net interest income; (vi) the lingering inflationary pressures, and the risk of the resurgence of elevated levels of inflation, in the United States and our market areas; (vii) the uncertain impacts of ongoing quantitative tightening and current and future monetary policies of the Board of Governors of the Federal Reserve System; (viii) changes in unemployment rates in the United States and our market areas; (ix) adverse changes in customer spending and savings habits; (x) declines in commercial real estate values and prices; (xi) a deterioration of the credit rating for U.S. long-term sovereign debt or uncertainty regarding United States fiscal debt, deficit and budget matters; (xii) cyber incidents or other failures, disruptions or breaches of our operational or security systems or infrastructure, or those of our third-party vendors or other service providers, including as a result of cyber-attacks; (xiii) severe weather, natural disasters, acts of war or terrorism, geopolitical instability or other external events, including as a result of the policies of the current U.S. presidential administration or Congress; (xiv) the impacts of tariffs, sanctions and other trade policies of the United States and its global trading counterparts and the resulting impact on the Company and its customers; (xv) competition and market expansion opportunities; (xvi) changes in non-interest expenditures or in the anticipated benefits of such expenditures; (xvii) the risks related to the development, implementation, use and management of emerging technologies, including artificial intelligence and machine learnings; (xviii) current or future litigation, regulatory examinations or other legal and/or regulatory actions; and (xix) changes in applicable laws and regulations. Additional information regarding these risks and uncertainties to which the Company’s business and future financial performance are subject is contained in the Company’s filings with the SEC, including its Annual Report on Form 10-K for the year ended December 31, 2025 and other documents the Company files with the SEC from time to time. Actual results, performance or achievements could differ materially from those contemplated, expressed, or implied by the forward-looking statements due to additional risks and uncertainties of which the Company is not currently aware or which it does not currently view as, but in the future may become, material to its business or operating results. Due to these and other possible uncertainties and risks, the Company can give no assurance that the results contemplated in the forward-looking statements will be realized and readers are cautioned not to place undue reliance on the forward-looking statements contained in this press release. Any forward-looking statements presented herein are made only as of the date of this press release, and the Company does not undertake any obligation to update or revise any forward-looking statements to reflect changes in assumptions, new information, the occurrence of unanticipated events, or otherwise, except as required by applicable law.
For Further Information, Contact:
GBank Financial Holdings Inc.
Edward M. Nigro
Executive Chairman and CEO
702-851-4200
enigro@g.bank
| GBank Financial Holdings Inc. Condensed Consolidated Balance Sheets (Unaudited) | ||||||||||||||||||||||||||||||||||
| Linked Quarter | Quarter Year-Over-Year | |||||||||||||||||||||||||||||||||
| 6/30/26 vs. 3/31/26 | 6/30/26 vs. 6/30/25 | |||||||||||||||||||||||||||||||||
| ($’s in 000, except per share data) | June 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | $ Var | % Var | $ Var | % Var | |||||||||||||||||||||||||
| Assets | ||||||||||||||||||||||||||||||||||
| Cash and Due From Banks | $ | 6,726 | $ | 4,960 | $ | 5,326 | $ | 4,988 | $ | 11,877 | $ | 1,766 | 35.6 | % | $ | (5,151 | ) | -43.4 | % | |||||||||||||||
| Interest-Bearing Deposits With Other Financial Institutions | 134,603 | 103,134 | 192,538 | 98,402 | 131,352 | 31,469 | 30.5 | % | 3,251 | 2.5 | % | |||||||||||||||||||||||
| Total Cash and Cash Equivalents | 141,329 | 108,094 | 197,864 | 103,390 | 143,229 | 33,235 | 30.7 | % | (1,900 | ) | -1.3 | % | ||||||||||||||||||||||
| Investment Securities: | ||||||||||||||||||||||||||||||||||
| Available For Sale, at Fair Value | 115,018 | 111,320 | 71,038 | 85,774 | 82,886 | 3,698 | 3.3 | % | 32,132 | 38.8 | % | |||||||||||||||||||||||
| Held to Maturity, at Amortized Cost | - | - | - | 38,578 | 39,515 | - | 0.0 | % | (39,515 | ) | -100.0 | % | ||||||||||||||||||||||
| Loans Held For Sale | 50,848 | 74,507 | 46,009 | 66,791 | 45,242 | (23,659 | ) | -31.8 | % | 5,606 | 12.4 | % | ||||||||||||||||||||||
| Loans, Net of Deferred Fees and Costs: | ||||||||||||||||||||||||||||||||||
| Commercial and Industrial | 80,766 | 81,623 | 80,216 | 66,226 | 59,021 | (857 | ) | -1.0 | % | 21,745 | 36.8 | % | ||||||||||||||||||||||
| Commercial Real Estate - Non-owner Occupied | 849,634 | 823,966 | 750,565 | 743,084 | 682,021 | 25,668 | 3.1 | % | 167,613 | 24.6 | % | |||||||||||||||||||||||
| Commercial Real Estate - Owner Occupied | 88,216 | 91,578 | 94,576 | 97,396 | 96,526 | (3,362 | ) | -3.7 | % | (8,310 | ) | -8.6 | % | |||||||||||||||||||||
| Construction and Land Development | 2,255 | 2,270 | 2,288 | 2,115 | 4,371 | (15 | ) | -0.7 | % | (2,116 | ) | -48.4 | % | |||||||||||||||||||||
| Multifamily | 18,836 | 18,930 | 18,950 | 18,979 | 18,987 | (94 | ) | -0.5 | % | (151 | ) | -0.8 | % | |||||||||||||||||||||
| Residential | 1,284 | 816 | 1,316 | 3,828 | 6,810 | 468 | 57.4 | % | (5,526 | ) | -81.1 | % | ||||||||||||||||||||||
| Consumer | 6,361 | 5,953 | 11,358 | 8,963 | 3,894 | 408 | 6.9 | % | 2,467 | 63.4 | % | |||||||||||||||||||||||
| Total Loans, Net of Deferred Fees and Costs | 1,047,352 | 1,025,136 | 959,269 | 940,591 | 871,630 | 22,216 | 2.2 | % | 175,722 | 20.2 | % | |||||||||||||||||||||||
| Less: Allowance for Credit Losses | (12,418 | ) | (10,755 | ) | (9,890 | ) | (10,577 | ) | (9,205 | ) | (1,663 | ) | 15.5 | % | (3,213 | ) | 34.9 | % | ||||||||||||||||
| Total Net Loans | 1,034,934 | 1,014,381 | 949,379 | 930,014 | 862,425 | 20,553 | 2.0 | % | 172,509 | 20.0 | % | |||||||||||||||||||||||
| Loan Servicing Asset | 12,270 | 11,376 | 11,140 | 10,621 | 9,736 | 894 | 7.9 | % | 2,534 | 26.0 | % | |||||||||||||||||||||||
| Restricted Investment in Bank Stock | 5,797 | 5,513 | 5,513 | 5,513 | 5,513 | 284 | 5.2 | % | 284 | 5.2 | % | |||||||||||||||||||||||
| All Other Assets | 71,506 | 68,621 | 78,548 | 60,697 | 43,878 | 2,885 | 4.2 | % | 27,628 | 63.0 | % | |||||||||||||||||||||||
| Total Assets | $ | 1,431,702 | $ | 1,393,812 | $ | 1,359,491 | $ | 1,301,378 | $ | 1,232,424 | $ | 37,890 | 2.7 | % | $ | 199,278 | 16.2 | % | ||||||||||||||||
| Liabilities | ||||||||||||||||||||||||||||||||||
| Non-Interest Bearing Demand | $ | 233,444 | $ | 215,063 | $ | 214,127 | $ | 227,921 | $ | 228,913 | $ | 18,381 | 8.5 | % | $ | 4,531 | 2.0 | % | ||||||||||||||||
| Interest Bearing Demand | 65,995 | 79,186 | 70,966 | 63,741 | 57,254 | (13,191 | ) | -16.7 | % | 8,741 | 15.3 | % | ||||||||||||||||||||||
| Savings and Money Market | 353,066 | 281,426 | 289,038 | 281,435 | 309,559 | 71,640 | 25.5 | % | 43,507 | 14.1 | % | |||||||||||||||||||||||
| Certificates of Deposit | 553,227 | 595,290 | 568,564 | 519,080 | 436,738 | (42,063 | ) | -7.1 | % | 116,489 | 26.7 | % | ||||||||||||||||||||||
| Total Deposits | 1,205,732 | 1,170,965 | 1,142,695 | 1,092,177 | 1,032,464 | 34,767 | 3.0 | % | 173,268 | 16.8 | % | |||||||||||||||||||||||
| Short-Term Borrowings | - | - | 371 | - | - | - | 0.0 | % | - | -100.0 | % | |||||||||||||||||||||||
| Subordinated Debt | 30,328 | 30,326 | 26,163 | 26,144 | 26,126 | 2 | 0.0 | % | 4,202 | 16.1 | % | |||||||||||||||||||||||
| Operating Lease Liability | 5,382 | 5,571 | 5,757 | 5,942 | 6,121 | (189 | ) | -3.4 | % | (739 | ) | -12.1 | % | |||||||||||||||||||||
| Other Liabilities | 17,450 | 19,328 | 18,750 | 18,922 | 15,964 | (1,878 | ) | -9.7 | % | 1,486 | 9.3 | % | ||||||||||||||||||||||
| Total Liabilities | 1,258,892 | 1,226,190 | 1,193,736 | 1,143,185 | 1,080,675 | 32,702 | 2.7 | % | 178,217 | 16.5 | % | |||||||||||||||||||||||
| Equity | ||||||||||||||||||||||||||||||||||
| Common Stock | 1 | 1 | 1 | 1 | 1 | - | 0.0 | % | - | 0.0 | % | |||||||||||||||||||||||
| Additional Paid-in Capital | 82,606 | 81,999 | 80,405 | 80,016 | 79,291 | 607 | 0.7 | % | 3,315 | 4.2 | % | |||||||||||||||||||||||
| Retained Earnings | 92,143 | 86,681 | 85,366 | 77,970 | 73,662 | 5,462 | 6.3 | % | 18,481 | 25.1 | % | |||||||||||||||||||||||
| Accumulated Other Comprehensive (Loss) Income | (1,940 | ) | (1,059 | ) | (17 | ) | 206 | (1,205 | ) | (881 | ) | 83.2 | % | (735 | ) | 61.0 | % | |||||||||||||||||
| Total Stockholders’ Equity | 172,810 | 167,622 | 165,755 | 158,193 | 151,749 | 5,188 | 3.1 | % | 21,061 | 13.9 | % | |||||||||||||||||||||||
| Total Liabilities & Stockholders’ Equity | $ | 1,431,702 | $ | 1,393,812 | $ | 1,359,491 | $ | 1,301,378 | $ | 1,232,424 | $ | 37,890 | 2.7 | % | $ | 199,278 | 16.2 | % | ||||||||||||||||
| Book Value Per Common Share | $ | 11.94 | $ | 11.58 | $ | 11.52 | $ | 11.07 | $ | 10.63 | $ | 0.36 | 3.1 | % | $ | 1.31 | 12.3 | % | ||||||||||||||||
| GBank Financial Holdings Inc. Condensed Consolidated Income Statements (Unaudited) | ||||||||||||||||||||||||||||
| Three Months Ended | Six Months Ended | |||||||||||||||||||||||||||
| ($’s in 000, except per share data) | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Jun 30, 2026 | Jun 30, 2025 | |||||||||||||||||||||
| Interest Income | ||||||||||||||||||||||||||||
| Loans | $ | 20,093 | $ | 18,958 | $ | 20,196 | $ | 18,919 | $ | 17,659 | $ | 39,051 | $ | 34,495 | ||||||||||||||
| Deposits With Other Financial Institutions | 1,296 | 1,257 | 1,018 | 1,160 | 1,365 | 2,553 | 2,557 | |||||||||||||||||||||
| Investment Securities | 1,326 | 1,102 | 1,404 | 1,421 | 1,414 | 2,428 | 2,695 | |||||||||||||||||||||
| Other Interest Bearing Balances | 14 | 277 | 121 | 122 | 117 | 291 | 217 | |||||||||||||||||||||
| Total Interest Income | 22,729 | 21,594 | 22,739 | 21,622 | 20,555 | 44,323 | 39,964 | |||||||||||||||||||||
| Interest Expense | ||||||||||||||||||||||||||||
| Deposits | 9,509 | 8,893 | 8,998 | 8,339 | 7,905 | 18,402 | 15,135 | |||||||||||||||||||||
| Short-term Borrowings and Subordinated Debt | 419 | 510 | 286 | 285 | 262 | 929 | 547 | |||||||||||||||||||||
| Total Interest Expense | 9,928 | 9,403 | 9,284 | 8,624 | 8,167 | 19,331 | 15,682 | |||||||||||||||||||||
| Net Interest Income | 12,801 | 12,191 | 13,455 | 12,998 | 12,388 | 24,992 | 24,282 | |||||||||||||||||||||
| (Provision) Net Benefit for Credit Losses - Loans | (2,829 | ) | (2,323 | ) | 130 | (2,207 | ) | (1,079 | ) | (5,152 | ) | (1,789 | ) | |||||||||||||||
| Net (Provision) Benefit for Credit Losses - Unfunded Commitments | (15 | ) | 30 | 52 | (12 | ) | (13 | ) | 15 | (24 | ) | |||||||||||||||||
| Net Interest Income after Provision for Credit Losses | 9,957 | 9,898 | 13,637 | 10,779 | 11,296 | 19,855 | 22,469 | |||||||||||||||||||||
| Non-Interest Income | ||||||||||||||||||||||||||||
| Gain on Sales of Loans | 5,544 | 3,790 | 3,625 | 3,592 | 2,593 | 9,334 | 5,130 | |||||||||||||||||||||
| Loan Servicing Income | 1,248 | 998 | 963 | 762 | 750 | 2,246 | 1,453 | |||||||||||||||||||||
| Service Charges and Fees | 86 | 58 | 56 | 60 | 54 | 144 | 110 | |||||||||||||||||||||
| Net Interchange Fees | 1,823 | 2,191 | 1,806 | 2,406 | 1,535 | 4,014 | 3,538 | |||||||||||||||||||||
| Gain on Sale of Investment Securities | - | - | 426 | - | - | - | - | |||||||||||||||||||||
| Other Income | 448 | 417 | 387 | 357 | 452 | 865 | 616 | |||||||||||||||||||||
| Total Non-Interest Income | 9,149 | 7,454 | 7,263 | 7,177 | 5,384 | 16,603 | 10,847 | |||||||||||||||||||||
| Non-Interest Expenses | ||||||||||||||||||||||||||||
| Salaries and Employee Benefits | 6,808 | 6,750 | 6,237 | 6,589 | 6,235 | 13,558 | 12,635 | |||||||||||||||||||||
| Occupancy Expenses | 399 | 410 | 410 | 418 | 400 | 809 | 792 | |||||||||||||||||||||
| Other Expenses | 4,791 | 8,716 | 4,813 | 5,310 | 3,761 | 13,507 | 7,876 | |||||||||||||||||||||
| Total Non-Interest Expenses | 11,998 | 15,876 | 11,460 | 12,317 | 10,396 | 27,874 | 21,303 | |||||||||||||||||||||
| Income Before Provision For Income Taxes | 7,108 | 1,476 | 9,440 | 5,639 | 6,284 | 8,584 | 12,013 | |||||||||||||||||||||
| Provision For Income Taxes | (1,625 | ) | (139 | ) | (2,026 | ) | (1,282 | ) | (1,486 | ) | (1,764 | ) | (2,710 | ) | ||||||||||||||
| Net Income Before Equity Investment Loss | 5,483 | 1,337 | 7,414 | 4,357 | 4,798 | 6,820 | 9,303 | |||||||||||||||||||||
| Net Loss Attributable to Equity Investment | (21 | ) | (22 | ) | (18 | ) | (49 | ) | (43 | ) | (43 | ) | (78 | ) | ||||||||||||||
| Net Income | $ | 5,462 | $ | 1,315 | $ | 7,396 | $ | 4,308 | $ | 4,755 | $ | 6,777 | $ | 9,225 | ||||||||||||||
| Earnings Per Share | $ | 0.38 | $ | 0.09 | $ | 0.52 | $ | 0.30 | $ | 0.33 | $ | 0.47 | $ | 0.65 | ||||||||||||||
| Earnings Per Share (Diluted) | $ | 0.38 | $ | 0.09 | $ | 0.51 | $ | 0.30 | $ | 0.33 | $ | 0.47 | $ | 0.63 | ||||||||||||||
| Average Common Shares Outstanding | 14,470 | 14,415 | 14,360 | 14,280 | 14,274 | 14,443 | 14,265 | |||||||||||||||||||||
| Diluted Average Common Shares Outstanding | 14,544 | 14,506 | 14,555 | 14,525 | 14,551 | 14,511 | 14,536 | |||||||||||||||||||||
| GBank Financial Holdings Inc. Quarter-to-Date Average Balances, Rates, and Interest Income and Expense (Unaudited) | |||||||||||||||||||||||||||
| For the Three Months Ended | |||||||||||||||||||||||||||
| June 30, 2026 | March 31, 2026 | June 30, 2025 | |||||||||||||||||||||||||
| (Dollars in thousands) | Average | Yield/ | Average | Yield/ | Average | Yield/ | |||||||||||||||||||||
| Balance | Interest | Rate(1) | Balance | Interest | Rate(1) | Balance | Interest | Rate(1) | |||||||||||||||||||
| ASSETS: | |||||||||||||||||||||||||||
| Interest Bearing Deposits | $ | 134,527 | $ | 1,296 | 3.86 | % | $ | 132,062 | $ | 1,257 | 3.86 | % | $ | 115,974 | $ | 1,365 | 4.72 | % | |||||||||
| Investment Securities: | |||||||||||||||||||||||||||
| Taxable | 114,526 | 1,326 | 4.64 | % | 101,725 | 1,102 | 4.39 | % | 119,880 | 1,414 | 4.73 | % | |||||||||||||||
| Loans and Loans Held For Sale | 1,102,289 | 20,093 | 7.31 | % | 1,041,831 | 18,958 | 7.38 | % | 911,028 | 17,659 | 7.77 | % | |||||||||||||||
| Restricted Investment in Bank Stock | 5,750 | 14 | 0.98 | % | 5,513 | 277 | 20.38 | % | 5,362 | 117 | 8.75 | % | |||||||||||||||
| Total Earning Assets | 1,357,092 | 22,729 | 6.72 | % | 1,281,131 | 21,594 | 6.84 | % | 1,152,244 | 20,555 | 7.16 | % | |||||||||||||||
| Cash and Due From Banks | 6,804 | 6,108 | 6,782 | ||||||||||||||||||||||||
| Other Assets | 67,682 | 68,981 | 41,894 | ||||||||||||||||||||||||
| Total Assets | $ | 1,431,578 | $ | 1,356,220 | $ | 1,200,920 | |||||||||||||||||||||
| LIABILITIES & STOCKHOLDERS’ EQUITY | |||||||||||||||||||||||||||
| Deposits: | |||||||||||||||||||||||||||
| Interest-bearing Demand | $ | 69,922 | 498 | 2.86 | % | $ | 73,173 | 521 | 2.89 | % | $ | 60,320 | 316 | 2.10 | % | ||||||||||||
| Money Market and Savings | 339,718 | 3,113 | 3.68 | % | 275,878 | 2,545 | 3.74 | % | 303,814 | 2,929 | 3.87 | % | |||||||||||||||
| Certificates of Deposit | 579,583 | 5,898 | 4.08 | % | 569,474 | 5,828 | 4.15 | % | 413,940 | 4,660 | 4.52 | % | |||||||||||||||
| Total Interest-Bearing Deposits | 989,223 | 9,509 | 3.86 | % | 918,525 | 8,893 | 3.93 | % | 778,074 | 7,905 | 4.08 | % | |||||||||||||||
| Short-Term Borrowings | - | - | 0.00 | % | 14 | - | 0.00 | % | - | - | 0.00 | % | |||||||||||||||
| Subordinated Debt | 30,319 | 419 | 5.54 | % | 29,008 | 510 | 7.13 | % | 26,113 | 262 | 4.02 | % | |||||||||||||||
| Total Interest-Bearing Liabilities | 1,019,542 | 9,928 | 3.91 | % | 947,547 | 9,403 | 4.02 | % | 804,187 | 8,167 | 4.07 | % | |||||||||||||||
| Noninterest-bearing Deposits | 212,756 | 212,683 | 223,201 | ||||||||||||||||||||||||
| Other Liabilities | 25,914 | 25,098 | 22,404 | ||||||||||||||||||||||||
| Stockholders’ Equity | 173,366 | 170,892 | 151,128 | ||||||||||||||||||||||||
| Total Liabilities & Stockholders’ Equity | $ | 1,431,578 | $ | 1,356,220 | $ | 1,200,920 | |||||||||||||||||||||
| Net Interest Income | $ | 12,801 | $ | 12,191 | $ | 12,388 | |||||||||||||||||||||
| Total Yield on Earning Assets | 6.72 | % | 6.84 | % | 7.16 | % | |||||||||||||||||||||
| Cost on Interest-Bearing Liabilities | 3.91 | % | 4.02 | % | 4.07 | % | |||||||||||||||||||||
| Average Interest Spread | 2.81 | % | 2.82 | % | 3.08 | % | |||||||||||||||||||||
| Net Interest Margin | 3.78 | % | 3.86 | % | 4.31 | % | |||||||||||||||||||||
| (1) Ratios are annualized on an actual/actual basis | |||||||||||||||||||||||||||
| GBank Financial Holdings Inc. Year-to-Date Average Balances, Rates, and Interest Income and Expense (Unaudited) | ||||||||||||||||||
| For the Six Months Ended | ||||||||||||||||||
| June 30, 2026 | June 30, 2025 | |||||||||||||||||
| (Dollars in thousands) | Average | Yield/ | Average | Yield/ | ||||||||||||||
| Balance | Interest | Rate(1) | Balance | Interest | Rate(1) | |||||||||||||
| ASSETS: | ||||||||||||||||||
| Interest Bearing Deposits | $ | 133,262 | $ | 2,553 | 3.86 | % | $ | 109,338 | $ | 2,557 | 4.72 | % | ||||||
| Investment Securities: | ||||||||||||||||||
| Taxable | 108,161 | 2,428 | 4.53 | % | 112,591 | 2,695 | 4.83 | % | ||||||||||
| Loans and Loans Held For Sale | 1,072,227 | 39,051 | 7.34 | % | 888,982 | 34,495 | 7.82 | % | ||||||||||
| Restricted Investment in Bank Stock | 5,632 | 291 | 10.42 | % | 5,009 | 217 | 8.74 | % | ||||||||||
| Total Earning Assets | 1,319,282 | 44,323 | 6.77 | % | 1,115,920 | 39,964 | 7.22 | % | ||||||||||
| Cash and Due From Banks | 6,497 | 6,501 | ||||||||||||||||
| Other Assets | 68,328 | 40,543 | ||||||||||||||||
| Total Assets | $ | 1,394,107 | $ | 1,162,964 | ||||||||||||||
| LIABILITIES & STOCKHOLDERS’ EQUITY | ||||||||||||||||||
| Deposits: | ||||||||||||||||||
| Interest-bearing Demand | $ | 71,539 | 1,019 | 2.87 | % | $ | 62,992 | 672 | 2.15 | % | ||||||||
| Money Market and Savings | 307,974 | 5,658 | 3.70 | % | 284,060 | 5,340 | 3.79 | % | ||||||||||
| Certificates of Deposit | 574,556 | 11,725 | 4.12 | % | 399,899 | 9,123 | 4.60 | % | ||||||||||
| Total Interest-Bearing Deposits | 954,069 | 18,402 | 3.89 | % | 746,951 | 15,135 | 4.09 | % | ||||||||||
| Short-Term Borrowings | 7 | - | 0.00 | % | - | - | 0.00 | % | ||||||||||
| Subordinated Debt | 29,667 | 929 | 6.32 | % | 26,104 | 547 | 4.23 | % | ||||||||||
| Total Interest-Bearing Liabilities | 983,743 | 19,331 | 3.96 | % | 773,055 | 15,682 | 4.09 | % | ||||||||||
| Noninterest-bearing Deposits | 212,720 | 221,050 | ||||||||||||||||
| Other Liabilities | 25,508 | 21,278 | ||||||||||||||||
| Stockholders’ Equity | 172,136 | 147,581 | ||||||||||||||||
| Total Liabilities & Stockholders’ Equity | $ | 1,394,107 | $ | 1,162,964 | ||||||||||||||
| Net Interest Income | $ | 24,992 | $ | 24,282 | ||||||||||||||
| Total Yield on Earning Assets | 6.77 | % | 7.22 | % | ||||||||||||||
| Cost on Interest-Bearing Liabilities | 3.96 | % | 4.09 | % | ||||||||||||||
| Average Interest Spread | 2.81 | % | 3.13 | % | ||||||||||||||
| Net Interest Margin | 3.82 | % | 4.39 | % | ||||||||||||||
| (1) Ratios are annualized on an actual/actual basis | ||||||||||||||||||
| GBank Financial Holdings Inc. Additional Financial Information (Unaudited) | ||||||||||||||||||||||||||||
| Three Months Ended | For the Six Months Ended | |||||||||||||||||||||||||||
| ($’s in 000, except per share data) | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Jun 30, 2026 | Jun 30, 2025 | |||||||||||||||||||||
| Key Performance Metrics | ||||||||||||||||||||||||||||
| Return on Average Assets-Net Income (1) | 1.53 | % | 0.39 | % | 2.20 | % | 1.37 | % | 1.59 | % | 0.98 | % | 1.60 | % | ||||||||||||||
| Return on Average Stockholders’ Equity(1) | 12.64 | % | 3.12 | % | 18.03 | % | 10.89 | % | 12.62 | % | 7.94 | % | 12.61 | % | ||||||||||||||
| Efficiency Ratio | 54.66 | % | 80.81 | % | 55.31 | % | 61.05 | % | 58.50 | % | 67.01 | % | 60.64 | % | ||||||||||||||
| Net Interest Margin(1) | 3.78 | % | 3.86 | % | 4.21 | % | 4.35 | % | 4.31 | % | 3.82 | % | 4.39 | % | ||||||||||||||
| Net Revenue(1) | $ | 21,950 | $ | 19,645 | $ | 20,718 | $ | 20,175 | $ | 17,772 | $ | 41,595 | $ | 35,129 | ||||||||||||||
| Common Equity / Assets | 12.07 | % | 12.03 | % | 12.19 | % | 12.16 | % | 12.30 | % | 12.07 | % | 12.30 | % | ||||||||||||||
| Tier 1 Leverage Ratio - Bank | 13.15 | % | 13.39 | % | 13.42 | % | 13.72 | % | 13.82 | % | 13.15 | % | 13.82 | % | ||||||||||||||
| Selected Loan Metrics | ||||||||||||||||||||||||||||
| Guaranteed Portion of Loans Held for Sale | $ | 50,848 | $ | 74,507 | $ | 46,009 | $ | 66,791 | $ | 45,242 | $ | 50,848 | $ | 45,242 | ||||||||||||||
| Guaranteed Portion of Loans Held for Investment | 174,971 | 177,617 | 183,739 | 193,688 | 192,324 | 174,971 | 192,324 | |||||||||||||||||||||
| Total Guaranteed Loans | 225,819 | 252,124 | 229,748 | 260,479 | 237,566 | 225,819 | 237,566 | |||||||||||||||||||||
| Guaranteed Loans as a Percent of Total Loans(2) | 16.7 | % | 17.3 | % | 19.2 | % | 20.6 | % | 22.1 | % | 16.7 | % | 22.1 | % | ||||||||||||||
| SBA Loan Originations | $ | 131,420 | $ | 189,851 | $ | 106,744 | $ | 207,683 | $ | 132,256 | $ | 321,271 | $ | 261,607 | ||||||||||||||
| SBA Loans Sold | $ | 110,075 | $ | 79,036 | $ | 92,258 | $ | 110,820 | $ | 82,140 | $ | 189,111 | $ | 150,860 | ||||||||||||||
| Gain on Loan Sales Margin(2) | 5.04 | % | 4.79 | % | 3.93 | % | 3.24 | % | 3.16 | % | 4.94 | % | 3.40 | % | ||||||||||||||
| Asset Quality | ||||||||||||||||||||||||||||
| Total nonaccrual loans | $ | 50,206 | $ | 39,736 | $ | 32,141 | $ | 34,608 | $ | 18,227 | $ | 50,206 | $ | 18,227 | ||||||||||||||
| Loans past due 90 days and still accruing | 4,310 | - | 854 | 184 | 146 | 4,310 | 146 | |||||||||||||||||||||
| Other real estate owned | 5,663 | 4,401 | 4,401 | 2,684 | - | 5,663 | - | |||||||||||||||||||||
| Total non-performing assets | $ | 60,179 | $ | 44,137 | $ | 37,396 | $ | 37,476 | $ | 18,373 | $ | 60,179 | $ | 18,373 | ||||||||||||||
| Non-performing assets: guaranteed portion | $ | 36,876 | $ | 34,340 | $ | 28,240 | $ | 29,236 | $ | 13,792 | $ | 36,876 | $ | 13,792 | ||||||||||||||
| Non-performing assets: non-guaranteed portion | $ | 23,303 | $ | 13,188 | $ | 12,547 | $ | 10,364 | $ | 4,581 | $ | 23,303 | $ | 4,581 | ||||||||||||||
| Non-performing assets to total assets | 4.20 | % | 3.17 | % | 2.75 | % | 2.88 | % | 1.49 | % | 4.20 | % | 1.49 | % | ||||||||||||||
| Non-performing assets, excluding guaranteed, to total assets(2) | 1.63 | % | 0.70 | % | 0.67 | % | 0.63 | % | 0.37 | % | 1.63 | % | 0.37 | % | ||||||||||||||
| Net charge-offs | $ | 1,167 | $ | 1,457 | $ | 557 | $ | 836 | $ | 870 | $ | 2,624 | $ | 1,698 | ||||||||||||||
| Loans past due 30-89 days and accruing | $ | 4,937 | $ | 6,255 | $ | 9,843 | $ | 3,595 | $ | 8,182 | $ | 4,937 | $ | 8,182 | ||||||||||||||
| Loans past due 30-89 days and accruing: guaranteed portion | $ | 2,491 | $ | 2,474 | $ | 4,574 | $ | 2,351 | $ | 5,650 | $ | 2,491 | $ | 5,650 | ||||||||||||||
| Loans past due 30-89 days and accruing: non-guaranteed portion | $ | 2,445 | $ | 3,781 | $ | 5,269 | $ | 1,244 | $ | 2,532 | $ | 2,445 | $ | 2,532 | ||||||||||||||
| Allowance for credit losses (ACL) | $ | 12,418 | $ | 10,755 | $ | 9,890 | $ | 10,577 | $ | 9,205 | $ | 12,418 | $ | 9,205 | ||||||||||||||
| Nonaccrual loans | $ | 50,206 | $ | 39,736 | $ | 32,141 | $ | 34,608 | $ | 18,227 | $ | 50,206 | $ | 18,227 | ||||||||||||||
| ACL to nonaccrual loans | 25 | % | 27 | % | 31 | % | 31 | % | 51 | % | 25 | % | 51 | % | ||||||||||||||
| ACL to nonaccrual loans, excluding guaranteed(2) | 70 | % | 122 | % | 136 | % | 141 | % | 208 | % | 70 | % | 208 | % | ||||||||||||||
| ACL to loans | 1.19 | % | 1.05 | % | 1.03 | % | 1.12 | % | 1.06 | % | 1.19 | % | 1.06 | % | ||||||||||||||
| ACL to loans, excluding guaranteed(2) | 1.42 | % | 1.27 | % | 1.28 | % | 1.42 | % | 1.36 | % | 1.42 | % | 1.36 | % | ||||||||||||||
| Book Value | ||||||||||||||||||||||||||||
| Stockholders’ Equity | $ | 172,810 | $ | 167,622 | $ | 165,755 | $ | 158,193 | $ | 151,749 | $ | 172,810 | $ | 151,749 | ||||||||||||||
| Common shares outstanding | 14,470 | 14,470 | 14,385 | 14,288 | 14,274 | 14,470 | 14,274 | |||||||||||||||||||||
| Book value per common share | $ | 11.94 | $ | 11.58 | $ | 11.52 | $ | 11.07 | $ | 10.63 | $ | 11.94 | $ | 10.63 | ||||||||||||||
| Full-Time Equivalent Employees | 189 | 189 | 184 | 187 | 188 | 189 | 188 | |||||||||||||||||||||
| (1) Ratios are annualized on an actual/actual basis | ||||||||||||||||||||||||||||
| (2) See Reconciliation of Non-GAAP Financial Measures | ||||||||||||||||||||||||||||
| GBank Financial Holdings Inc. Reconciliation of Non-GAAP Financial Measures (Unaudited) | ||||||||||||||||||||||||||||
| Three Months Ended | For the Six Months Ended | |||||||||||||||||||||||||||
| ($'s in 000, except per share data) | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Jun 30, 2026 | Jun 30, 2025 | |||||||||||||||||||||
| Pre-Provision Net Revenue(1) | ||||||||||||||||||||||||||||
| Net Interest Income | $ | 12,801 | $ | 12,191 | $ | 13,455 | $ | 12,998 | $ | 12,388 | $ | 24,992 | $ | 24,282 | ||||||||||||||
| Non-Interest Income | 9,149 | 7,454 | 7,263 | 7,177 | 5,384 | 16,603 | 10,847 | |||||||||||||||||||||
| Net Revenue | $ | 21,950 | $ | 19,645 | $ | 20,718 | $ | 20,175 | $ | 17,772 | $ | 41,595 | $ | 35,129 | ||||||||||||||
| Non-Interest Expense | 11,998 | 15,876 | 11,460 | 12,317 | 10,396 | 27,874 | 21,303 | |||||||||||||||||||||
| Pre-Provision Net Revenue | $ | 9,952 | $ | 3,769 | $ | 9,258 | $ | 7,858 | $ | 7,376 | $ | 13,721 | $ | 13,826 | ||||||||||||||
| Less: | ||||||||||||||||||||||||||||
| (Provision) Net Benefit for Credit Losses | (2,844 | ) | (2,293 | ) | 182 | (2,219 | ) | (1,092 | ) | (5,137 | ) | (1,813 | ) | |||||||||||||||
| Provision For Income Taxes | (1,625 | ) | (139 | ) | (2,026 | ) | (1,282 | ) | (1,486 | ) | (1,764 | ) | (2,710 | ) | ||||||||||||||
| Net Loss Attributable to Equity Investment | (21 | ) | (22 | ) | (18 | ) | (49 | ) | (43 | ) | (43 | ) | (78 | ) | ||||||||||||||
| Net Income | $ | 5,462 | $ | 1,315 | $ | 7,396 | $ | 4,308 | $ | 4,755 | $ | 6,777 | $ | 9,225 | ||||||||||||||
| Adjusted Diluted Earnings Per Share Excluding Unusual Items(2) | ||||||||||||||||||||||||||||
| Net Income | $ | 5,462 | $ | 1,315 | $ | 7,396 | $ | 4,308 | $ | 4,755 | $ | 6,777 | $ | 9,225 | ||||||||||||||
| Unusual Items: | ||||||||||||||||||||||||||||
| Form S-1 and Uplift Costs | - | - | - | 30 | 290 | - | 1,049 | |||||||||||||||||||||
| Severance Expenses | - | - | 257 | 1,001 | - | - | - | |||||||||||||||||||||
| Credit Card Fraud Losses | 52 | 4,213 | - | - | - | 4,265 | ||||||||||||||||||||||
| Costs Incurred Related to Discontinued Credit Card Marketing Campaign | - | - | 416 | 1,692 | - | - | - | |||||||||||||||||||||
| Net Gain on Sales of Investment Securities | - | - | (426 | ) | - | - | - | - | ||||||||||||||||||||
| Tax Effect of Unusual Expenses (a) | (12 | ) | (963 | ) | (55 | ) | (605 | ) | (64 | ) | (975 | ) | (233 | ) | ||||||||||||||
| Net Income Excluding Unusual Items | $ | 5,502 | $ | 4,565 | $ | 7,588 | $ | 6,426 | $ | 4,981 | $ | 10,067 | $ | 10,041 | ||||||||||||||
| Weighted average diluted shares outstanding | 14,544 | 14,506 | 14,555 | 14,525 | 14,551 | 14,511 | 14,536 | |||||||||||||||||||||
| Diluted Earnings Per Share | $ | 0.38 | $ | 0.09 | $ | 0.51 | $ | 0.30 | $ | 0.33 | $ | 0.47 | $ | 0.63 | ||||||||||||||
| Adjusted Diluted Earnings Per Share Excluding Unusual Expenses | $ | 0.38 | $ | 0.31 | $ | 0.52 | $ | 0.44 | $ | 0.34 | $ | 0.69 | $ | 0.69 | ||||||||||||||
| Gain on Loan Sales Margin(1) | ||||||||||||||||||||||||||||
| Gain on Sale of Loans | $ | 5,544 | $ | 3,790 | $ | 3,625 | $ | 3,592 | $ | 2,593 | $ | 9,334 | $ | 5,130 | ||||||||||||||
| Loans Sold | 110,075 | 79,036 | 92,258 | 110,820 | 82,140 | 189,111 | 150,860 | |||||||||||||||||||||
| Gain on Loan Sales Margin | 5.04 | % | 4.79 | % | 3.93 | % | 3.24 | % | 3.16 | % | 4.94 | % | 3.40 | % | ||||||||||||||
| Guaranteed Loans as a Percent of Loans(3) | ||||||||||||||||||||||||||||
| SBA and USDA Guaranteed Loans | $ | 174,971 | $ | 177,617 | $ | 183,739 | $ | 193,688 | $ | 192,324 | $ | 174,971 | $ | 192,324 | ||||||||||||||
| Loans, Net of Deferred Fees and Costs | 1,047,352 | 1,025,136 | 959,269 | 940,591 | 871,630 | 1,047,352 | 871,630 | |||||||||||||||||||||
| Guaranteed Loans as a % of Loans | 16.7 | % | 17.3 | % | 19.2 | % | 20.6 | % | 22.1 | % | 16.7 | % | 22.1 | % | ||||||||||||||
| Non-performing assets, excluding guaranteed, to total assets(3) | ||||||||||||||||||||||||||||
| Non-performing assets | $ | 60,179 | $ | 44,137 | $ | 37,396 | $ | 37,476 | $ | 18,373 | $ | 60,179 | $ | 18,373 | ||||||||||||||
| Less: SBA and USDA guaranteed portions of non-performing assets | 36,876 | 34,340 | 28,240 | 29,236 | 13,792 | 36,876 | 13,792 | |||||||||||||||||||||
| Non-performing assets, excluding guaranteed portions | 23,303 | 9,797 | 9,156 | 8,240 | 4,581 | 23,303 | 4,581 | |||||||||||||||||||||
| Total assets | 1,431,702 | 1,393,812 | 1,359,491 | 1,301,378 | 1,232,424 | 1,431,702 | 1,232,424 | |||||||||||||||||||||
| Non-performing assets, excluding guaranteed, to total assets | 1.63 | % | 0.70 | % | 0.67 | % | 0.63 | % | 0.37 | % | 1.63 | % | 0.37 | % | ||||||||||||||
| Allowance for credit losses (ACL) to nonaccrual loans, excluding guaranteed(3) | ||||||||||||||||||||||||||||
| Nonaccrual loans | $ | 50,206 | $ | 39,736 | $ | 32,141 | $ | 34,608 | $ | 18,227 | $ | 50,206 | $ | 18,227 | ||||||||||||||
| Less: SBA and USDA guaranteed portions of nonaccrual loans | 32,481 | 30,949 | 24,849 | 27,112 | 13,792 | 32,481 | 13,792 | |||||||||||||||||||||
| Nonaccrual loans, excluding guaranteed portions | 17,725 | 8,787 | 7,292 | 7,496 | 4,435 | 17,725 | 4,435 | |||||||||||||||||||||
| ACL to nonaccrual loans, excluding guaranteed | 70 | % | 122 | % | 136 | % | 141 | % | 208 | % | 70 | % | 208 | % | ||||||||||||||
| ACL to loans, excluding guaranteed(3) | ||||||||||||||||||||||||||||
| Loans, net of deferred fees and costs | $ | 1,047,352 | $ | 1,025,136 | $ | 959,269 | $ | 940,591 | $ | 871,630 | $ | 1,047,352 | $ | 871,630 | ||||||||||||||
| Less: SBA and USDA guaranteed portions of loans | 174,971 | 177,617 | 183,739 | 193,688 | 192,324 | 174,971 | 192,324 | |||||||||||||||||||||
| Loans, excluding guaranteed | 872,381 | 847,519 | 775,530 | 746,903 | 679,306 | 872,381 | 679,306 | |||||||||||||||||||||
| ACL to loans, excluding guaranteed | 1.42 | % | 1.27 | % | 1.28 | % | 1.42 | % | 1.36 | % | 1.42 | % | 1.36 | % | ||||||||||||||
| Non-GAAP Financial Measures Footnotes | ||||||||||||||||||||||||||||
| (1) We utilize this non-GAAP measurement to present trends in income generation of the Company. | ||||||||||||||||||||||||||||
| (2) We utilize this non-GAAP measurement to present the core earnings and core ratios of the Company by excluding certain significant one-time expenses. | ||||||||||||||||||||||||||||
| (3) We utilize these non-GAAP measurements to provide useful metrics regarding the at-risk assets of the Company. | ||||||||||||||||||||||||||||
| (a) Estimated tax impact calculated using each respective period's effective tax rate. | ||||||||||||||||||||||||||||
