GBank Financial Holdings Inc. Announces Third Quarter 2026 Financial Results

Lower interchange fees and loan-sale gains outweighed sequential growth in net interest income.

Rhea-AI Summary

GBank Financial Holdings (NASDAQ: GBFH) reported third-quarter 2026 net income of $3.9 million, down from both comparison quarters. Diluted earnings per share were $0.27, versus $0.38 in the second quarter and $0.30 a year earlier. Adjusted net income, excluding non-core items, was $4.3 million.

Net interest income rose 6.4% sequentially to $13.6 million, while net interest margin increased to 3.95%. Net revenue fell 7.3% sequentially to $20.3 million as interchange fees and loan-sale gains declined. SBA loan originations increased to $171.7 million from $131.4 million.

Non-interest expense increased to $12.8 million, including $0.5 million in severance. Loans grew $24.5 million during the quarter, while deposits fell $41.8 million and short-term borrowings reached $60 million. Credit-loss provision expense was $2.6 million, versus $2.8 million sequentially and $2.2 million a year earlier.

11 points · 0 major

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0 major · 26 points

Hollow bars mark forward-looking points. How the balance works

Positive

• Moderate pointNet interest income rose 6.4% sequentially and 4.7% year over year to $13.6 million in Q3 2026.
• Moderate pointSBA loan originations increased to $171.7 million in Q3 2026 from $131.4 million in Q2.
• Moderate pointTotal loans, net of deferred fees and costs, increased $24.5 million sequentially and $131.2 million year over year.
• Moderate pointTotal assets reached $1.5 billion at September 30, 2026, up 11.9% year over year.
• Minor pointLoan-sale margin increased to 5.57% in Q3 2026 from 5.04% in Q2.

6 minor points

• Minor pointLoan servicing income increased $549 thousand year over year in Q3 2026.
• Minor pointAvailable borrowing capacity totaled approximately $387.6 million at September 30, 2026.
• Minor pointStockholders’ equity rose to $175.4 million from $172.8 million sequentially and $158.2 million a year earlier.
• Minor pointBook value per share reached $12.08, up 1.1% sequentially and 9.1% year over year.
• Minor pointEffective tax rate fell to 20.7% in Q3 2026 from 22.9% sequentially and 22.7% a year earlier.
• Minor point. Forward-looking: it has not happened yet and may not happen.Management targets year-end 2026 to address items holding back earnings.

Negative

• Moderate pointQ3 2026 net income fell to $3.9 million from $5.5 million sequentially and $4.3 million a year earlier.
• Moderate pointQ3 2026 net revenue fell 7.3% sequentially to $20.3 million, but increased 0.8% year over year.
• Moderate pointNon-interest income fell to $6.7 million from $9.1 million sequentially and $7.2 million a year earlier.
• Moderate pointNon-interest expense rose to $12.8 million from $12.0 million sequentially and $12.3 million a year earlier.
• Moderate pointEfficiency ratio worsened to 63.0% from 54.7% sequentially and 61.1% a year earlier.
• Moderate pointDeposits fell $41.8 million sequentially, although they increased $71.8 million year over year.
• Moderate pointLoan-to-deposit ratio increased to 92.1% from 86.9% sequentially and 86.1% a year earlier.
• Moderate pointShort-term borrowings reached $60 million, versus none at June 30, 2026 or September 30, 2025.

18 minor points

• Minor pointQ3 2026 diluted EPS fell to $0.27 from $0.38 sequentially and $0.30 a year earlier.
• Minor pointQ3 2026 adjusted net income fell to $4.3 million; adjusted diluted EPS fell to $0.30.
• Minor pointNine-month 2026 net income fell to $10.6 million from $13.5 million; diluted EPS declined to $0.73 from $0.93.
• Minor pointNine-month 2026 adjusted net income fell to $14.4 million from $16.4 million; adjusted EPS fell to $0.99 from $1.13.
• Minor pointNet interest margin reached 3.95%, above Q2 2026’s 3.78% but below Q3 2025’s 4.35%.
• Minor pointNet interchange fees declined $1.5 million sequentially and $2.1 million year over year in Q3 2026.
• Minor pointLoan-sale gains fell to $4.7 million from $5.5 million sequentially, but increased $1.1 million year over year.
• Minor pointLoans sold declined to $84.5 million in Q3 2026 from $110.1 million in Q2.
• Minor pointCredit-loss provision was $2.6 million, below Q2 2026’s $2.8 million but above Q3 2025’s $2.2 million.
• Minor pointNet loan charge-offs totaled $1.1 million in Q3 2026, compared with $1.2 million in Q2.
• Minor pointSpecific reserves increased $981 thousand for individually evaluated commercial real estate and commercial and industrial loans.
• Minor pointLegacy retail credit cards required a $687 thousand reserve increase because of elevated delinquencies.
• Minor point. Forward-looking: it has not happened yet and may not happen.Legacy retail credit-card provision expense is expected to continue in the near term, diminishing as the portfolio runs off.
• Minor pointNon-interest-bearing deposits declined $36.9 million sequentially and $31 million year over year.
• Minor pointSubordinated notes outstanding rose to $30.4 million from $30.3 million sequentially and $26.1 million a year earlier.
• Minor pointGovernment-guaranteed loan share fell to 15.3% from 16.7% sequentially and 20.6% a year earlier.
• Minor pointCommon equity to total assets declined to 12.04% from 12.07% sequentially and 12.16% a year earlier.
• Minor pointBank Tier 1 leverage ratio was 13.4%, above 13.2% sequentially but below 13.7% a year earlier.

News Explained

As of September 30, 2026, GBank Financial Holdings reported approximately $387.6 million in available borrowing capacity through Federal Reserve, Federal Home Loan Bank and correspondent-bank lines, a disclosed source of potential additional funding.

Key Figures

Net income: $3.9 million Diluted EPS: $0.27 per diluted share Adjusted net income: $4.3 million +5 more

Net income

$3.9 million

Third quarter 2026; compared with $5.5 million in Q2 2026 and $4.3 million in Q3 2025

Diluted EPS

$0.27 per diluted share

Third quarter 2026; compared with $0.38 in Q2 2026 and $0.30 in Q3 2025

Adjusted net income

$4.3 million

Third quarter 2026, excluding non-core items; compared with $5.5 million in Q2 2026 and $6.3 million in Q3 2025

Adjusted diluted EPS

$0.30

Third quarter 2026; compared with $0.38 in Q2 2026 and $0.44 in Q3 2025

Net revenue

$20.3 million, down 7.3%

Third quarter 2026 compared with $22.0 million in Q2 2026

Net interest margin

3.95%

Third quarter 2026; up from 3.78% in Q2 2026 and below 4.35% in Q3 2025

SBA loan originations

$171.7 million

Third quarter 2026, compared with $131.4 million in Q2 2026

Provision for credit losses on loans

$2.6 million

Third quarter 2026; included $687 thousand for the legacy non-gaming retail credit card program

Previous Earnings Reports

2 past events · Latest: Jul 29

Same Type 2 events

1. Jul 29

   Second-quarter earnings

   24h Move

   -30.0%

   Net income rose to $5.5 million, while net revenue reached a record $22.0 million.

2. Oct 28

   Third-quarter earnings

   24h Move

   -0.9%

   Reported $4.3 million net income and $20.2 million net revenue, providing the year-ago comparison.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

net interest margin, non-gaap financial measures, net charge-offs, nonaccrual loans

4 terms

net interest margin financial

"The Company’s net interest margin for the third quarter of 2026 was 3.95%"

Net interest margin measures how much a bank earns from lending and investing compared with what it pays for funding, expressed as a percentage of its interest-earning assets. Think of it like a grocery store’s markup: it shows the gap between buying cost and selling price per dollar of goods — here, the cost is interest paid and the sale is interest received. Investors watch it because a higher margin usually means a bank is more profitable and better at managing interest rate and credit conditions.

non-gaap financial measures financial

"See Reconciliation of Non-GAAP Financial Measures"

Non-GAAP financial measures are numbers companies use to show their financial performance that exclude certain expenses or income. They help investors see how the company might perform without one-time costs or other unusual items, giving a different perspective from official reports. However, since they can be adjusted, they don’t always tell the full story and should be looked at alongside standard financial figures.

net charge-offs financial

"net charge-offs were consistent at $1.1 million in the third quarter"

Net charge-offs are the amount of loans or credit a lender removes from its books as uncollectible after subtracting any money later recovered from previously written-off accounts. Think of it like a store writing off unpaid tabs but getting back a few dollars later — the net figure shows the real loss. Investors watch this to judge a lender’s loan quality, future profits and how much capital may be needed to cover bad debts.

nonaccrual loans financial

"The decrease was driven by an $8.8 million reduction in nonaccrual loans"

Nonaccrual loans are loans a lender has stopped counting toward interest income because the borrower is overdue or unlikely to pay; the lender only records cash payments received and may set aside extra funds to cover potential losses. For investors, a rising number or amount of nonaccrual loans signals weaker credit quality, lower future interest revenue and larger potential write-downs — similar to pausing expected subscription income when many customers stop paying.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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LAS VEGAS, Oct. 28, 2026 (GLOBE NEWSWIRE) -- GBank Financial Holdings Inc. (the “Company”) (NASDAQ: GBFH), the parent company of GBank (the “Bank”), today reported net income of $3.9 million, or $0.27 per diluted share, for the third quarter ended September 30, 2026, compared to $5.5 million, or $0.38 per diluted share during the second quarter of 2026, and $4.3 million, or $0.30 per diluted share, for the third quarter of 2025. Excluding non-core items, adjusted net income⁽¹⁾ was $4.3 million, or $0.30 adjusted diluted earnings per share⁽¹⁾, for the third quarter of 2026, compared to $5.5 million, or $0.38, for the second quarter of 2026, and $6.3 million, or $0.44, for the third quarter of 2025.

For the nine months ended September 30, 2026, net income was $10.6 million, or $0.73 per diluted share, compared to $13.5 million, or $0.93 per diluted share, for the comparable nine-month period of 2025. Excluding non-core items, adjusted net income⁽¹⁾ for the nine months ended September 30, 2026 was $14.4 million, or $0.99 adjusted diluted earnings per share⁽¹⁾ compared to $16.4 million, or $1.13, for the same period of 2025.

⁽¹⁾ See Reconciliation of Non-GAAP Financial Measures

Third Quarter 2026 Comments (Unaudited)

• Net interest income of $13.6 million compared to $12.8 million in the previous quarter.
  
  
• Net revenue⁽¹⁾ of $20.3 million, a decrease of $1.6 million, or 7.3% compared to $22.0 million in the second quarter of 2026, due to lower net interchange fees and fewer loans sold.
  
  
• Net interest margin increased 17 basis points to 3.95% from 3.78%.
  
  
• Gain on loan sales of $4.7 million on loans sold of $84.5 million, a decrease of $0.8 million compared to $5.5 million on loans sold of $110.1 million for the second quarter of 2026. Gain on loan sales margin⁽¹⁾ increased to 5.57% from 5.04%.
  
  
• U.S. Small Business Administration (“SBA”) loan originations of $171.7 million, compared to $131.4 million for the second quarter of 2026.
  
  

“Despite the lower than expected earnings during the period, I want to emphasize that our core banking franchise performed well during the third quarter, with higher net interest income, an improved net interest margin, and strong SBA production and gain-on-sale margin," said Jeff Newgard, President and Chief Executive Officer of GBank Financial Holdings. "While earnings were affected by lower interchange income following the decision by several large sports betting operators to discontinue credit cards as a funding source, as well as several one-time or non-core items, we believe the underlying performance of the bank reflects the strength of our franchise. Going forward, my focus is on strengthening the core bank; building my team which I hope to have completed by year end; maintaining strong credit discipline and executing on the opportunities before us. While the legacy retail credit card portfolio will continue to affect provision expense in the near term, we expect that impact to diminish as the portfolio continues to run off. My goal for the company and shareholders is to address the items that have held back earnings and have them behind us by the end of the year, so that 2027 can be a fresh start at the bank and we will clearly see the impacts of our gaming fintech initiatives taking hold as we move through the year.”

⁽¹⁾ See Reconciliation of Non-GAAP Financial Measures

Financial Results

Income Statement

Net interest income totaled $13.6 million for the third quarter of 2026, reflecting an increase of $813 thousand, or 6.4%, compared to $12.8 million for the second quarter of 2026, and an increase of $616 thousand, or 4.7%, compared to the third quarter of 2025.

The increase in net interest income when compared to both the second quarter of 2026 and the same quarter of 2025 was primarily volume driven, as higher interest income from growth in average loans and investments (and, compared with the prior year, interest-bearing cash balances) more than offset increases in interest expense resulting from higher average deposits and borrowings.

The Company’s net interest margin for the third quarter of 2026 was 3.95%, compared to 3.78% for the second quarter of 2026 and 4.35% for the third quarter of 2025. The 17 basis point increase over the prior quarter reflected a 15 basis point increase in the yield on average earning assets to 6.87% and a 5 basis point decrease in the cost of average interest-bearing liabilities to 3.86%. The higher asset yield was driven by a favorable shift in earning asset mix, as average loans increased $34.6 million to 83.1% of average earning assets (81.2% in the second quarter) at a yield of 7.34%, while lower-yielding average interest-bearing deposits with banks decreased $26.9 million. The investment securities yield increased to 4.73% from 4.64% as a result of the full-quarter impact of $7.9 million of available for sale securities purchased during the second quarter of 2026.

The Company recorded a provision for credit losses on loans of $2.6 million for the third quarter of 2026, compared to $2.8 million of provision expense recorded during the second quarter of 2026, and $2.2 million of provision expense recorded during the third quarter of 2025. The provision in the third quarter included a provision expense of $687 thousand for our legacy non-gaming retail credit card program. Please refer to information under the heading "Asset Quality" for more information regarding the provision for credit losses. The decrease from the prior quarter was driven by a smaller allowance build, as the allowance for credit losses increased $1.5 million during the third quarter, compared to an increase of $1.7 million during the second quarter, while net charge-offs were consistent at $1.1 million in the third quarter, compared to $1.2 million in the second quarter. The allowance for credit losses as a percentage of total loans increased to 1.30% from 1.19% as of June 30, 2026.

Non-interest income was $6.7 million for the third quarter of 2026, compared to $9.1 million for the second quarter of 2026, and $7.2 million for the third quarter of 2025. The decrease of $2.4 million when compared to the second quarter of 2026 was primarily due to a $1.5 million decrease in net interchange fees, following the decision by several large sports betting operators to discontinue credit cards as a funding source, and a $0.8 million decrease in gain on sale of loans as fewer guaranteed loans were sold. The $0.5 million decrease in non-interest income during the third quarter of 2026 when compared to the third quarter of 2025 was primarily due to a $2.1 million decrease in net interchange fees, partially offset by a $1.1 million increase in net gains on sales of loans, and a $549 thousand increase in loan servicing income.

Net revenue⁽¹⁾ totaled $20.3 million for the third quarter of 2026, representing a decrease of $1.6 million, or 7.3%, compared to $22.0 million for the second quarter of 2026. Net revenue for the third quarter of 2026 increased $0.2 million, or 0.8%, when compared to $20.2 million for the third quarter of 2025.

Non-interest expense was $12.8 million during the third quarter of 2026, compared to $12.0 million for the second quarter of 2026 and $12.3 million for the third quarter of 2025. The quarter-over-quarter increase in non-interest expense was principally due to $1.1 million increase in salaries and employee benefits, including $0.5 million in severance expense, partially offset by $0.4 million decrease in other expenses. Non-core items for the third quarter of 2026 totaled $0.6 million pre-tax, consisting of $0.5 million of severance expense, $0.1 million of fraud losses, as outlined in the Reconciliation of Non-GAAP Financial Measures section of this release.

⁽¹⁾ See Reconciliation of Non-GAAP Financial Measures

The Company’s efficiency ratio was 63.0% for the third quarter of 2026, compared to 54.7% for the second quarter of 2026 and 61.1% for the third quarter of 2025. The higher efficiency ratio for the third quarter of 2026 was due primarily to the lower net revenue and the non-core items included in non-interest expenses for the quarter.

Income tax expense was $1.0 million for the quarter ended September 30, 2026, compared to $1.6 million for the second quarter of 2026, and $1.3 million for the third quarter of 2025. The Company’s effective tax rate was 20.7% for the quarter ended September 30, 2026, compared to 22.9% for the quarter ended June 30, 2026, and 22.7% for the quarter ended September 30, 2025. Fluctuations in the effective tax rate are primarily driven by the timing and magnitude of certain stock-based compensation transactions that generate tax benefits for the Company, as well as changes in pre-tax earnings.

⁽¹⁾ See Reconciliation of Non-GAAP Financial Measures

Net income was $3.9 million for the third quarter of 2026, a decrease of $1.6 million from $5.5 million for the second quarter of 2026, and a decrease of $455 thousand from $4.3 million during the third quarter of 2025. Diluted earnings per share were $0.27 for the third quarter of 2026, compared to $0.38 for the second quarter of 2026 and $0.30 for the third quarter of 2025. Excluding non-core items, adjusted net income⁽¹⁾ was $4.3 million for the third quarter of 2026, a decrease of $1.2 million from $5.5 million for the second quarter of 2026, and a decrease of $2.0 million from $6.3 million for the third quarter of 2025. Adjusted diluted earnings per share⁽¹⁾ were $0.30 for the third quarter of 2026, compared to $0.38 for the second quarter of 2026 and $0.44 for the third quarter of 2025. Non-core items for the third quarter of 2026 totaled $0.6 million before tax as shown on the Non-GAAP Financial Measures table.

⁽¹⁾ See Reconciliation of Non-GAAP Financial Measures

Balance Sheet

Total assets were $1.5 billion as of September 30, 2026 and $1.4 billion as of June 30, 2026, an increase of 11.9% from $1.3 billion as of September 30, 2025. The increase in total assets from September 30, 2025 was primarily driven by increases in loans and other assets. Total assets under management, including $1.2 billion of sold loans for which servicing is retained, totaled $2.7 billion as of September 30, 2026.

The investment securities portfolio decreased by $460 thousand during the third quarter of 2026, as principal paydowns and an increase in unrealized losses on available for sale securities more than offset purchases.

Total loans, net of deferred fees and costs, were $1.1 billion as of September 30, 2026, $1.0 billion as of June 30, 2026, and $940.6 million as of September 30, 2025. Loans, net of deferred fees and costs increased $24.5 million during the third quarter of 2026 primarily due to an increase of $28 million in non-owner occupied commercial real estate loans. The increase in loans, net of deferred fees and costs, of $131.2 million from September 30, 2025, was driven primarily by increases of $134.5 million in commercial real estate-non-owner occupied loans. Total government guaranteed loans as a percentage of total loans⁽¹⁾ were 15.3% as of September 30, 2026, compared to 16.7% as of June 30, 2026, and 20.6% as of September 30, 2025.

The Company’s allowance for credit losses totaled $13.9 million as of September 30, 2026, compared to $12.4 million as of June 30, 2026, and $10.6 million as of September 30, 2025. Please refer to information under the heading "Asset Quality" for more information regarding the allowance for credit losses.

Deposits totaled $1.2 billion as of September 30, 2026 and June 30, 2026, an increase of $71.8 million from $1.1 billion as of September 30, 2025. The decrease of $41.8 million from the prior quarter was driven by decreases in non-interest bearing demand, interest bearing demand and savings and money market balances of $36.9 million, $6.9 million and $77.4 million, respectively. The decrease in non-interest bearing demand balances was primarily due to decreases of $19.6 million in general business accounts, $11.9 million in fintech business accounts and $5.4 million in personal accounts. These decreases were partially offset by an increase of $79.4 million in certificates of deposit. The increase of $71.8 million compared to September 30, 2025 was primarily driven by $114 million growth in certificates of deposit and offset by a decrease of $31 million in non-interest bearing deposits.

The Company’s ratio of loans to deposits was 92.1% as of September 30, 2026, compared to 86.9% as of June 30, 2026, and 86.1% as of September 30, 2025.

The Company had $60 million in short-term borrowings as of September 30, 2026 compared to none as of June 30, 2026 and September 30, 2025. As of September 30, 2026, the Company had approximately $387.6 million in available borrowing capacity from the Federal Reserve Bank of San Francisco, the Federal Home Loan Bank of San Francisco, and through its various fed funds lines of credit with its correspondent banks.

Subordinated notes outstanding totaled $30.4 million as of September 30, 2026, $30.3 million as of June 30, 2026, and $26.1 million as of September 30, 2025. The year-over-year increase reflects the issuance of $11.0 million of subordinated debt issued in January 2026 maturing on January 15, 2036. This increase was partially offset by the redemption of $6.5 million of subordinated debt originally issued in 2020.

Stockholders’ equity was $175.4 million as of September 30, 2026, compared to $172.8 million as of June 30, 2026, and $158.2 million as of September 30, 2025. The increase in stockholders’ equity when compared to both the prior quarter and the prior year is mainly attributable to increases in retained earnings resulting from net income earned during each respective period, partially offset by an increase in accumulated other comprehensive loss from unrealized losses on available for sale securities.

The Company’s ratio of common equity to total assets was 12.04% as of September 30, 2026 compared to 12.07% as of June 30, 2026 and 12.16% as of September 30, 2025. The Bank’s Tier 1 leverage ratio was 13.4% as of September 30, 2026 compared to 13.2% as of June 30, 2026, and 13.7% as of September 30, 2025. The Company’s book value per share was $12.08 as of September 30, 2026, an increase of 1.1% from $11.94 as of June 30, 2026, and an increase of 9.1% from $11.07 as of September 30, 2025.

⁽¹⁾ See Reconciliation of Non-GAAP Financial Measures

Asset Quality

The Company recorded a provision for credit loss expense for loans of $2.6 million for the third quarter of 2026, compared to $2.8 million recorded during the second quarter of 2026 and $2.2 million of provision expense recorded during the third quarter of 2025. The provision for credit losses for loans during the third quarter of 2026 reflects (i) $1.1 million of net charge offs recorded during the third quarter of 2026 for certain commercial real estate - owner occupied, commercial real estate - non-owner occupied, and commercial and industrial loans, (ii) an increase of $981 thousand related to specific reserves on individually evaluated commercial real estate - owner occupied, commercial real estate - non-owner occupied, and commercial and industrial loans, and (iii) an increase in reserve for credit cards of $687 thousand due to elevated delinquency levels in the legacy non-gaming retail credit card portfolio.

The Company’s allowance for credit losses totaled $13.9 million as of September 30, 2026, compared to $12.4 million as of June 30, 2026, and $10.6 million as of September 30, 2025. The allowance for credit losses as a percentage of total loans was 1.30% as of September 30, 2026, compared to 1.19% as of June 30, 2026 and 1.12% as of September 30, 2025. The allowance for credit losses as a percentage of total loans, excluding government guaranteed portions⁽¹⁾, was 1.54% as of September 30, 2026, compared to 1.42% as of June 30, 2026, and 1.42% as of September 30, 2025. The increase in this ratio was largely driven by an increase in specific reserves assigned to collateral-dependent non-performing loans.

Net loan charge offs in the third quarter of 2026 totaled $1.1 million, or 0.38% of average net loans (annualized), compared to net loan charge offs of $1.2 million, or 0.42% of average net loans (annualized) in the second quarter of 2026 and $836 thousand of net loan charge offs, or 0.35% of average net loans (annualized) during the third quarter of 2025.

The balance of other real estate owned increased to $10.9 million as of September 30, 2026 compared to $5.7 million as of June 30, 2026. The Company had $2.7 million other real estate owned as of September 30, 2025. The increase in other real estate owned during the third quarter of 2026 was attributable to the completion of foreclosure proceedings on three commercial real estate - non-owner occupied properties totaling $6.9 million. This increase was partially offset by the sale of one commercial real estate - non-owner occupied property during the third quarter of 2026 totaling $1.6 million.

Non-performing assets totaled $54.2 million as of September 30, 2026, a decrease of $3.9 million from $58.2 million as of June 30, 2026, and an increase of $16.8 million from $37.5 million as of September 30, 2025. The decrease was driven by an $8.8 million reduction in nonaccrual loans and a $0.5 million reduction in loans past due 90 days and still accruing, partially offset by a $5.3 million increase in other real estate owned.

Our non-performing assets to total assets ratio was 3.72% as of September 30, 2026, compared to 4.06% as of June 30, 2026, and 2.88% as of September 30, 2025. At September 30, 2026, this ratio includes government guaranteed balances of $25.5 million in the balance of non-performing assets (the numerator). Excluding the government guaranteed portion of non-performing assets⁽¹⁾, total at-risk non-performing assets were $28.8 million, or 1.97% as of September 30, 2026, an increase of $7.5 million from $21.3 million, or 1.49% of total assets of June 30, 2026.

⁽¹⁾ See Reconciliation of Non-GAAP Financial Measures

Other Financial and Operational Highlights

SBA Lending and Commercial Banking

SBA lending originations totaled $171.7 million during the third quarter of 2026, compared to $131.4 million for the second quarter of 2026 and $207.7 million for the third quarter of 2025.

We continue to see improvement in our pretax gain on sale of loans margin as the average was 5.57% for the third quarter of 2026, compared to 5.04% for the second quarter of 2026, and 3.24% for the third quarter of 2025. This improvement in pricing quarter-over-quarter was more than offset with the volume decrease of $26 million in loan sales which resulted in a 15.2% decrease in gain on sale of loans when compared to the second quarter of 2026. Guaranteed loans held for sale increased by $19 million from June 30, 2026, with the majority of those loans plus new originations expected to be sold during the fourth quarter.

⁽¹⁾ See Reconciliation of Non-GAAP Financial Measures

Gaming and Financial Technology Operations

Average daily gaming and fintech deposits increased from approximately $29.9 million in July to $30.9 million in September. This upward trend is an encouraging early sign that the Company’s gaming and fintech strategy is beginning to gain traction. Gaming-related credit card transaction volume was $19.5 million in the third quarter, compared with $84.2 million in the second quarter. Net interchange fee income declined 84.6% to $0.3 million following changes in credit card funding practices by several large sports betting operators. The Company remains committed to its broader gaming payments strategy, which it expects to develop over the long term and does not expect to contribute materially to financial results in the near term.

The Company is making progress across its developing gaming and payments programs. The Distill Taverns fully launched the BoltBetz application across all nine of its Las Vegas locations in September, with early adoption showing encouraging momentum. Terrible’s is expected to launch BoltBetz in early November at three locations with a full rollout planned during 2027. Integration of the BVNKROLL payments infrastructure with the AXES digital casino management system is continuing and should be completed by year end 2026. The LuckyLoads prepaid card is now expected to be launched during the second quarter of 2027. The Company expects to provide additional updates as these programs reach meaningful milestones.

Earnings Call

The Company will host its third quarter 2026 earnings call on Wednesday, October 28, 2026 at 2:00 p.m. PST. Interested parties are welcome to attend the call, which will be held virtually, by registering at https://gbank-financial-earnings-q326.open-exchange.net/. [A replay of the call will be available on the Company’s investor relations website at www.gbankfinancialholdings.com within 24 hours after the end of the call.]

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 makes available on its website, www.gbankfinancialholdings.com, SEC filings, earnings releases, investor presentations and other information regarding the Company. The information contained on, or accessible through, the Company's website is not incorporated by reference into this release.

Forward-Looking Statements

This release contains forward-looking statements regarding the Company's business, strategy, financial performance and future plans. These statements are based on current expectations and are subject to risks and uncertainties that could cause actual results to differ materially from those anticipated. Additional information regarding these risks and uncertainties is contained in the Company's filings with the SEC, including its Annual Report on Form 10-K and subsequent filings. The Company undertakes no obligation to update any forward-looking statements except as required by law.

Investor Relations Contact:

Financial Profiles, Inc.
Meghan O'Leary and Lisa Fortuna
gbank@finprofiles.com

GBank Financial Holdings Inc.
Condensed Consolidated Balance Sheets
(Unaudited)
																						Linked Quarter								Quarter Year-Over-Year
																						9/30/26 vs. 6/30/26								9/30/26 vs. 9/30/25
($’s in 000, except per share data)		Sep 30, 2026				Jun 30, 2026				Mar 31, 2026				Dec 31, 2025				Sep 30, 2025				$ Var				% Var				$ Var				% Var
Assets
Cash and Due From Banks		$	3,504			$	6,726			$	4,960			$	5,326			$	4,988			$	(3,222	)			-47.9	%		$	(1,484	)			-29.8	%
Interest-Bearing Deposits With Other Financial Institutions			109,836				134,603				103,134				192,538				98,402				(24,767	)			-18.4	%			11,434				11.6	%
Total Cash and Cash Equivalents			113,340				141,329				108,094				197,864				103,390				(27,989	)			-19.8	%			9,950				9.6	%
Investment Securities:
Available For Sale, at Fair Value			114,558				115,018				111,320				71,038				85,774				(460	)			-0.4	%			28,784				33.6	%
Held to Maturity, at Amortized Cost			-				-				-				-				38,578				-				0.0	%			(38,578	)			-100.0	%
Loans Held For Sale			69,727				50,848				74,507				46,009				66,791				18,879				37.1	%			2,936				4.4	%
Loans, Net of Deferred Fees and Costs:
Commercial and Industrial			80,766				80,766				81,623				80,216				66,226				-				0.0	%			14,540				22.0	%
Commercial Real Estate - Non-owner Occupied			877,631				849,634				823,966				750,565				743,084				27,997				3.3	%			134,547				18.1	%
Commercial Real Estate - Owner Occupied			88,391				88,216				91,578				94,576				97,396				175				0.2	%			(9,005	)			-9.2	%
Construction and Land Development			3,248				2,255				2,270				2,288				2,115				993				44.0	%			1,133				53.6	%
Multifamily			14,745				18,836				18,930				18,950				18,979				(4,091	)			-21.7	%			(4,234	)			-22.3	%
Residential			1,604				1,284				816				1,316				3,828				320				24.9	%			(2,224	)			-58.1	%
Consumer			5,445				6,361				5,953				11,358				8,963				(916	)			-14.4	%			(3,518	)			-39.3	%
Total Loans, Net of Deferred Fees and Costs			1,071,830				1,047,352				1,025,136				959,269				940,591				24,478				2.3	%			131,239				14.0	%
Less: Allowance for Credit Losses			(13,935	)			(12,418	)			(10,755	)			(9,890	)			(10,577	)			(1,517	)			12.2	%			(3,358	)			31.7	%
Total Net Loans			1,057,895				1,034,934				1,014,381				949,379				930,014				22,961				2.2	%			127,881				13.8	%
Loan Servicing Asset			12,500				12,270				11,376				11,140				10,621				230				1.9	%			1,879				17.7	%
Restricted Investment in Bank Stock			5,797				5,797				5,513				5,513				5,513				-				0.0	%			284				5.2	%
All Other Assets			82,774				71,506				68,621				78,548				60,697				11,268				15.8	%			22,077				36.4	%
Total Assets		$	1,456,591			$	1,431,702			$	1,393,812			$	1,359,491			$	1,301,378			$	24,889				1.7	%		$	155,213				11.9	%
Liabilities
Non-Interest Bearing Demand		$	196,547			$	233,444			$	215,063			$	214,127			$	227,921			$	(36,897	)			-15.8	%		$	(31,374	)			-13.8	%
Interest Bearing Demand			59,114				65,995				79,186				70,966				63,741				(6,881	)			-10.4	%			(4,627	)			-7.3	%
Savings and Money Market			275,629				353,066				281,426				289,038				281,435				(77,437	)			-21.9	%			(5,806	)			-2.1	%
Certificates of Deposit			632,638				553,227				595,290				568,564				519,080				79,411				14.4	%			113,558				21.9	%
Total Deposits			1,163,928				1,205,732				1,170,965				1,142,695				1,092,177				(41,804	)			-3.5	%			71,751				6.6	%
Short-Term Borrowings			60,000				-				-				371				-				60,000			N/M					60,000			N/M
Subordinated Debt			30,354				30,328				30,326				26,163				26,144				26				0.1	%			4,210				16.1	%
Operating Lease Liability			5,191				5,382				5,571				5,757				5,942				(191	)			-3.5	%			(751	)			-12.6	%
Other Liabilities			21,739				17,450				19,328				18,750				18,922				4,289				24.6	%			2,817				14.9	%
Total Liabilities			1,281,212				1,258,892				1,226,190				1,193,736				1,143,185				22,320				1.8	%			138,027				12.1	%
Equity
Common Stock			1				1				1				1				1				-				0.0	%			-				0.0	%
Additional Paid-in Capital			83,769				82,606				81,999				80,405				80,016				1,163				1.4	%			3,753				4.7	%
Retained Earnings			95,996				92,143				86,681				85,366				77,970				3,853				4.2	%			18,026				23.1	%
Accumulated Other Comprehensive (Loss) Income			(4,387	)			(1,940	)			(1,059	)			(17	)			206				(2,447	)			126.1	%			(4,593	)			-2229.6	%
Total Stockholders’ Equity			175,379				172,810				167,622				165,755				158,193				2,569				1.5	%			17,186				10.9	%
Total Liabilities & Stockholders’ Equity		$	1,456,591			$	1,431,702			$	1,393,812			$	1,359,491			$	1,301,378			$	24,889				1.7	%		$	155,213				11.9	%
Book Value Per Common Share		$	12.08			$	11.94			$	11.58			$	11.52			$	11.07			$	0.14				1.1	%		$	1.01				9.1	%

GBank Financial Holdings Inc.
Condensed Consolidated Income Statements
(Unaudited)
		Three Months Ended																				Nine Months Ended
($’s in 000, except per share data)		Sep 30, 2026				Jun 30, 2026				Mar 31, 2026				Dec 31, 2025				Sep 30, 2025				Sep 30, 2026				Sep 30, 2025
Interest Income
Loans		$	21,046			$	20,093			$	18,958			$	20,196			$	18,919			$	60,097			$	53,413
Deposits With Other Financial Institutions			1,073				1,296				1,257				1,018				1,160				3,626				3,718
Investment Securities			1,400				1,326				1,102				1,404				1,421				3,828				4,117
Other Interest Bearing Balances			153				14				277				121				122				444				338
Total Interest Income			23,672				22,729				21,594				22,739				21,622				67,995				61,586
Interest Expense
Deposits			9,192				9,509				8,893				8,998				8,339				27,594				23,473
Short-term Borrowings and Subordinated Debt			866				419				510				286				285				1,795				833
Total Interest Expense			10,058				9,928				9,403				9,284				8,624				29,389				24,306
Net Interest Income			13,614				12,801				12,191				13,455				12,998				38,606				37,280
(Provision) Net Benefit for Credit Losses - Loans			(2,617	)			(2,829	)			(2,323	)			130				(2,207	)			(7,769	)			(3,996	)
Net (Provision) Benefit for Credit Losses - Unfunded Commitments			(29	)			(15	)			30				52				(12	)			(14	)			(36	)
Net Interest Income after Provision for Credit Losses			10,968				9,957				9,898				13,637				10,779				30,823				33,248
Non-Interest Income
Gain on Sales of Loans			4,701				5,544				3,790				3,625				3,592				14,035				8,722
Loan Servicing Income			1,311				1,248				998				963				762				3,557				2,215
Service Charges and Fees			59				86				58				56				60				203				171
Net Interchange Fees			281				1,823				2,191				1,806				2,406				4,295				5,944
Gain on Sale of Investment Securities			-				-				-				426				-				-				-
Other Income			374				448				417				387				357				1,239				971
Total Non-Interest Income			6,726				9,149				7,454				7,263				7,177				23,329				18,023
Non-Interest Expenses
Salaries and Employee Benefits			7,892				6,808				6,750				6,237				6,589				21,450				19,224
Occupancy Expenses			491				399				410				410				418				1,300				1,210
Other Expenses			4,438				4,791				8,716				4,813				5,310				17,945				13,185
Total Non-Interest Expenses			12,821				11,998				15,876				11,460				12,317				40,695				33,619
Income Before Provision For Income Taxes			4,873				7,108				1,476				9,440				5,639				13,457				17,652
Provision For Income Taxes			(1,008	)			(1,625	)			(139	)			(2,026	)			(1,282	)			(2,772	)			(3,992	)
Net Income Before Equity Investment Loss			3,865				5,483				1,337				7,414				4,357				10,685				13,660
Net Loss Attributable to Equity Investment			(12	)			(21	)			(22	)			(18	)			(49	)			(55	)			(127	)
Net Income		$	3,853			$	5,462			$	1,315			$	7,396			$	4,308			$	10,630			$	13,533
Earnings Per Share		$	0.27			$	0.38			$	0.09			$	0.52			$	0.30			$	0.73			$	0.95
Earnings Per Share (Diluted)		$	0.27			$	0.38			$	0.09			$	0.51			$	0.30			$	0.73			$	0.93
Average Common Shares Outstanding			14,506				14,470				14,415				14,360				14,280				14,464				14,270
Diluted Average Common Shares Outstanding			14,532				14,544				14,506				14,555				14,525				14,513				14,510

GBank Financial Holdings Inc.
Quarter-to-Date Average Balances, Rates, and Interest Income and Expense
(Unaudited)
		For the Three Months Ended
		September 30, 2026												June 30, 2026												September 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		$	107,642			$	1,073				3.95	%		$	134,527			$	1,296				3.86	%		$	97,822			$	1,160				4.70	%
Investment Securities:
Taxable			117,425				1,400				4.73	%			114,526				1,326				4.64	%			122,158				1,421				4.62	%
Loans and Loans Held For Sale			1,136,863				21,046				7.34	%			1,102,289				20,093				7.31	%			960,679				18,919				7.81	%
Restricted Investment in Bank Stock			5,797				153				10.47	%			5,750				14				0.98	%			5,513				122				8.78	%
Total Earning Assets			1,367,727				23,672				6.87	%			1,357,092				22,729				6.72	%			1,186,172				21,622				7.23	%
Cash and Due From Banks			5,772												6,804												7,050
Other Assets			70,213												67,682												54,801
Total Assets		$	1,443,712											$	1,431,578											$	1,248,023
LIABILITIES & STOCKHOLDERS’ EQUITY
Deposits:
Interest-bearing Demand		$	61,578				425				2.74	%		$	69,922				498				2.86	%		$	60,404				320				2.10	%
Money Market and Savings			329,477				2,943				3.54	%			339,718				3,113				3.68	%			307,322				2,938				3.79	%
Certificates of Deposit			568,012				5,824				4.07	%			579,583				5,898				4.08	%			456,611				5,081				4.41	%
Total Interest-Bearing Deposits			959,067				9,192				3.80	%			989,223				9,509				3.86	%			824,337				8,339				4.01	%
Short-Term Borrowings			43,978				444				4.01	%			-				-				0.00	%			-				-				0.00	%
Subordinated Debt			30,337				422				5.52	%			30,319				419				5.54	%			26,132				285				4.33	%
Total Interest-Bearing Liabilities			1,033,382				10,058				3.86	%			1,019,542				9,928				3.91	%			850,469				8,624				4.02	%
Noninterest-bearing Deposits			206,464												212,756												217,547
Other Liabilities			25,990												25,914												23,115
Stockholders’ Equity			177,876												173,366												156,892
Total Liabilities & Stockholders’ Equity		$	1,443,712											$	1,431,578											$	1,248,023
Net Interest Income						$	13,614											$	12,801											$	12,998
Total Yield on Earning Assets											6.87	%											6.72	%											7.23	%
Cost on Interest-Bearing Liabilities											3.86	%											3.91	%											4.02	%
Average Interest Spread											3.01	%											2.81	%											3.21	%
Net Interest Margin											3.95	%											3.78	%											4.35	%
(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 Nine Months Ended
		September 30, 2026												September 30, 2025
(Dollars in thousands)		Average								Yield/				Average								Yield/
		Balance				Interest				Rate(1)				Balance				Interest				Rate(1)
ASSETS:
Interest Bearing Deposits		$	124,989			$	3,626				3.88	%		$	105,457			$	3,718				4.71	%
Investment Securities:
Taxable			111,283				3,828				4.60	%			115,815				4,117				4.75	%
Loans and Loans Held For Sale			1,094,009				60,097				7.34	%			913,143				53,413				7.82	%
Restricted Investment in Bank Stock			5,688				444				10.44	%			5,179				338				8.73	%
Total Earning Assets			1,335,969				67,995				6.80	%			1,139,594				61,586				7.23	%
Cash and Due From Banks			5,892												6,686
Other Assets			68,963												45,348
Total Assets		$	1,410,824											$	1,191,628
LIABILITIES & STOCKHOLDERS’ EQUITY
Deposits:
Interest-bearing Demand		$	68,182				1,444				2.83	%		$	62,120				991				2.13	%
Money Market and Savings			315,221				8,600				3.65	%			291,899				8,279				3.79	%
Certificates of Deposit			572,351				17,550				4.10	%			419,011				14,203				4.53	%
Total Interest-Bearing Deposits			955,754				27,594				3.86	%			773,030				23,473				4.06	%
Short-Term Borrowings			14,825				444				4.00	%			-				-				0.00	%
Subordinated Debt			29,893				1,351				6.04	%			26,113				833				4.26	%
Total Interest-Bearing Liabilities			1,000,472				29,389				3.93	%			799,143				24,306				4.07	%
Noninterest-bearing Deposits			210,611												219,869
Other Liabilities			25,671												21,897
Stockholders’ Equity			174,070												150,719
Total Liabilities & Stockholders’ Equity		$	1,410,824											$	1,191,628
Net Interest Income						$	38,606											$	37,280
Total Yield on Earning Assets											6.80	%											7.23	%
Cost on Interest-Bearing Liabilities											3.93	%											4.07	%
Average Interest Spread											2.87	%											3.16	%
Net Interest Margin											3.86	%											4.37	%
(1) Ratios are annualized on an actual/actual basis

GBank Financial Holdings Inc.
Additional Financial Information
(Unaudited)
		Three Months Ended																				For the Nine Months Ended
($’s in 000, except per share data)		Sep 30, 2026				Jun 30, 2026				Mar 31, 2026				Dec 31, 2025				Sep 30, 2025				Sep 30, 2026				Sep 30, 2025
Key Performance Metrics
Return on Average Assets-Net Income(1)			1.06	%			1.53	%			0.39	%			2.20	%			1.37	%			1.01	%			1.52	%
Return on Average Stockholders’ Equity(1)			8.59	%			12.64	%			3.12	%			18.03	%			10.89	%			8.16	%			12.00	%
Efficiency Ratio			63.03	%			54.66	%			80.81	%			55.31	%			61.05	%			65.71	%			60.79	%
Net Interest Margin(1)			3.95	%			3.78	%			3.86	%			4.21	%			4.35	%			3.86	%			4.37	%
Net Revenue(1)		$	20,340			$	21,950			$	19,645			$	20,718			$	20,175			$	61,935			$	55,303
Common Equity / Assets			12.04	%			12.07	%			12.03	%			12.19	%			12.16	%			12.04	%			12.16	%
Tier 1 Leverage Ratio - Bank			13.37	%			13.15	%			13.39	%			13.42	%			13.72	%			13.37	%			13.72	%
Selected Loan Metrics
Guaranteed Portion of Loans Held for Sale		$	69,727			$	50,848			$	74,507			$	46,009			$	66,791			$	69,727			$	66,791
Guaranteed Portion of Loans Held for Investment			164,497				174,971				177,617				183,739				193,688				164,497				193,688
Total Guaranteed Loans			234,224				225,819				252,124				229,748				260,479				234,224				260,479
Guaranteed Loans as a Percent of Total Loans(2)			15.3	%			16.7	%			17.3	%			19.2	%			20.6	%			15.3	%			20.6	%
SBA Loan Originations		$	171,696			$	131,420			$	189,851			$	106,744			$	207,683			$	492,967			$	469,290
SBA Loans Sold		$	84,454			$	110,075			$	79,036			$	92,258			$	110,820			$	273,565			$	261,680
Gain on Loan Sales Margin(2)			5.57	%			5.04	%			4.79	%			3.93	%			3.24	%			5.13	%			3.33	%
Asset Quality
Total nonaccrual loans		$	42,891			$	51,648			$	39,736			$	32,141			$	34,608			$	42,891			$	34,608
Loans past due 90 days and still accruing			417				868				-				854				184				417				184
Other real estate owned			10,927				5,663				4,401				4,401				2,684				10,927				2,684
Total non-performing assets		$	54,235			$	58,179			$	44,137			$	37,396			$	37,476			$	54,235			$	37,476
Non-performing assets: guaranteed portion		$	25,469			$	36,876			$	34,340			$	28,240			$	27,112			$	25,469			$	27,112
Non-performing assets: non-guaranteed portion		$	28,766			$	21,303			$	9,797			$	9,156			$	10,364			$	28,766			$	10,364
Non-performing assets to total assets			3.72	%			4.06	%			3.17	%			2.75	%			2.88	%			3.72	%			2.88	%
Non-performing assets, excluding guaranteed, to total assets(2)			1.97	%			1.49	%			0.70	%			0.67	%			0.80	%			1.97	%			0.80	%
Net charge-offs		$	1,100			$	1,167			$	1,457			$	557			$	836			$	3,724			$	2,534
Loans past due 30-89 days and accruing		$	1,998			$	12,202			$	6,255			$	9,843			$	3,595			$	1,998			$	3,595
Loans past due 30-89 days and accruing: guaranteed portion		$	-			$	2,491			$	2,474			$	4,574			$	2,351			$	-			$	2,351
Loans past due 30-89 days and accruing: non-guaranteed portion		$	1,998			$	9,710			$	3,781			$	5,269			$	1,244			$	1,998			$	1,244
Allowance for credit losses (ACL)		$	13,935			$	12,418			$	10,755			$	9,890			$	10,577			$	13,935			$	10,577
Nonaccrual loans		$	42,891			$	51,648			$	39,736			$	32,141			$	34,608			$	42,891			$	34,608
ACL to nonaccrual loans			32	%			24	%			27	%			31	%			31	%			32	%			31	%
ACL to nonaccrual loans, excluding guaranteed(2)			80	%			65	%			122	%			136	%			141	%			80	%			141	%
ACL to loans			1.30	%			1.19	%			1.05	%			1.03	%			1.12	%			1.30	%			1.12	%
ACL to loans, excluding guaranteed(2)			1.54	%			1.42	%			1.27	%			1.28	%			1.42	%			1.54	%			1.42	%
Book Value
Stockholders’ Equity		$	175,379			$	172,810			$	167,622			$	165,755			$	158,193			$	175,379			$	158,193
Common shares outstanding			14,520				14,470				14,470				14,385				14,288				14,520				14,288
Book value per common share		$	12.08			$	11.94			$	11.58			$	11.52			$	11.07			$	12.08			$	11.07
Full-Time Equivalent Employees			179				189				189				184				187				179				187
(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 Nine Months Ended
($'s in 000, except per share data)		Sep 30, 2026				Jun 30, 2026				Mar 31, 2026				Dec 31, 2025				Sep 30, 2025				Sep 30, 2026				Sep 30, 2025
Pre-Provision Net Revenue(1)
Net Interest Income		$	13,614			$	12,801			$	12,191			$	13,455			$	12,998			$	38,606			$	37,280
Non-Interest Income			6,726				9,149				7,454				7,263				7,177				23,329				18,023
Net Revenue		$	20,340			$	21,950			$	19,645			$	20,718			$	20,175			$	61,935			$	55,303
Non-Interest Expense			12,821				11,998				15,876				11,460				12,317				40,695				33,619
Pre-Provision Net Revenue		$	7,519			$	9,952			$	3,769			$	9,258			$	7,858			$	21,240			$	21,684
Less:
(Provision) Net Benefit for Credit Losses			(2,646	)			(2,844	)			(2,293	)			182				(2,219	)			(7,783	)			(4,032	)
Provision For Income Taxes			(1,008	)			(1,625	)			(139	)			(2,026	)			(1,282	)			(2,772	)			(3,992	)
Net Loss Attributable to Equity Investment			(12	)			(21	)			(22	)			(18	)			(49	)			(55	)			(127	)
Net Income		$	3,853			$	5,462			$	1,315			$	7,396			$	4,308			$	10,630			$	13,533
Adjusted Diluted Earnings Per Share(2)
Net Income		$	3,853			$	5,462			$	1,315			$	7,396			$	4,308			$	10,630			$	13,533
Non-core Items:
Form S-1 and Uplift Costs			-				-				-				-				30				-				1,079
Severance Related Expenses			520				-				-				257				900				520				900
Credit Card Fraud Losses			(23	)			52				4,213				-				-				4,242
Costs Incurred Related to Discontinued Credit Card Marketing Campaign			-				-				-				416				1,692				-				1,692
Net Gain on Sales of Investment Securities			-				-				-				(426	)			-				-				-
Third-party Fraud Loss			100																				100
Tax Effect of Non-core Items(a)			(124	)			(12	)			(963	)			(55	)			(597	)			(1,099	)			(835	)
Net Income Excluding Non-core Items		$	4,326			$	5,502			$	4,565			$	7,588			$	6,333			$	14,393			$	16,369
Weighted average diluted shares outstanding			14,532				14,544				14,506				14,555				14,525				14,513				14,510
Diluted Earnings Per Share		$	0.27			$	0.38			$	0.09			$	0.51			$	0.30			$	0.73			$	0.93
Adjusted Diluted Earnings Per Share		$	0.30			$	0.38			$	0.31			$	0.52			$	0.44			$	0.99			$	1.13
Gain on Loan Sales Margin(1)
Gain on Sale of Loans		$	4,701			$	5,544			$	3,790			$	3,625			$	3,592			$	14,035			$	8,722
Loans Sold			84,454				110,075				79,036				92,258				110,820				273,565				261,680
Gain on Loan Sales Margin			5.57	%			5.04	%			4.79	%			3.93	%			3.24	%			5.13	%			3.33	%
Guaranteed Loans as a Percent of Loans(3)
SBA and USDA Guaranteed Loans		$	164,497			$	174,971			$	177,617			$	183,739			$	193,688			$	164,497			$	193,688
Loans, Net of Deferred Fees and Costs			1,071,830				1,047,352				1,025,136				959,269				940,591				1,071,830				940,591
Guaranteed Loans as a % of Loans			15.3	%			16.7	%			17.3	%			19.2	%			20.6	%			15.3	%			20.6	%
Non-performing assets, excluding guaranteed, to total assets(3)
Non-performing assets		$	54,235			$	58,179			$	44,137			$	37,396			$	37,476			$	54,235			$	37,476
Less: SBA and USDA guaranteed portions of non-performing assets			25,469				36,876				34,340				28,240				27,112				25,469				27,112
Non-performing assets, excluding guaranteed portions			28,766				21,303				9,797				9,156				10,364				28,766				10,364
Total assets			1,456,591				1,431,702				1,393,812				1,359,491				1,301,378				1,456,591				1,301,378
Non-performing assets, excluding guaranteed, to total assets			1.97	%			1.49	%			0.70	%			0.67	%			0.80	%			1.97	%			0.80	%
Allowance for credit losses (ACL) to nonaccrual loans, excluding guaranteed(3)
Nonaccrual loans		$	42,891			$	51,648			$	39,736			$	32,141			$	34,608			$	42,891			$	34,608
Less: SBA and USDA guaranteed portions of nonaccrual loans			25,469				32,481				30,949				24,849				27,111				25,469				27,111
Nonaccrual loans, excluding guaranteed portions			17,422				19,167				8,787				7,292				7,497				17,422				7,497
ACL to nonaccrual loans, excluding guaranteed			80	%			65	%			122	%			136	%			141	%			80	%			141	%
ACL to loans, excluding guaranteed(3)
Loans, net of deferred fees and costs		$	1,071,830			$	1,047,352			$	1,025,136			$	959,269			$	940,591			$	1,071,830			$	940,591
Less: SBA and USDA guaranteed portions of loans			164,497				174,971				177,617				183,739				193,688				164,497				193,688
Loans, excluding guaranteed			907,333				872,381				847,519				775,530				746,903				907,333				746,903
ACL to loans, excluding guaranteed			1.54	%			1.42	%			1.27	%			1.28	%			1.42	%			1.54	%			1.42	%
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 non-core 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.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What were GBank Financial Holdings’ third-quarter 2026 earnings?

GBank reported $3.9 million in net income and $0.27 diluted earnings per share for the quarter ended September 30, 2026. That compares with $5.5 million and $0.38 in the second quarter of 2026, and $4.3 million and $0.30 in the third quarter of 2025.

Why did GBank’s interchange fees decline in the third quarter of 2026?

Net interchange fees declined after several large sports betting operators discontinued credit cards as a funding source. Fees decreased $1.5 million from the second quarter of 2026 and $2.1 million from the third quarter of 2025.

How much credit-loss allowance did GBank hold at September 30, 2026?

GBank held a $13.9 million allowance for credit losses, compared with $12.4 million at June 30, 2026 and $10.6 million at September 30, 2025. The allowance represented 1.30% of total loans, versus 1.19% and 1.12%, respectively.