GBank Financial (NASDAQ: GBFH) Q2 profit surges as credit risks rise

Rhea-AI Filing Summary

GBank Financial Holdings Inc. reported strong second-quarter 2026 results, with net income of $5.5 million, or $0.38 per diluted share, up from $1.3 million ($0.09) in the prior quarter and $4.8 million ($0.33) a year earlier. Net revenue reached a record $22.0 million, 11.7% above the first quarter, and pre-provision net revenue rose to $10.0 million from $3.8 million. For the first half of 2026, net income was $6.8 million, or $0.47 per diluted share, and adjusted net income excluding first-quarter credit card fraud losses was $10.1 million, or $0.69 per diluted share. The efficiency ratio improved to 54.7% from 80.8% as prior-quarter fraud costs rolled off.

Total assets were $1.43 billion, up 16.2% year over year, loans were $1.05 billion and deposits $1.21 billion. Book value per share increased to $11.94, 12.3% higher than a year ago, and common equity to assets was 12.07% while the Bank’s Tier 1 leverage ratio was 13.2%. Asset quality weakened, with non-performing assets rising to $60.2 million (4.20% of assets) and provision for credit losses increasing to $2.8 million; the allowance for credit losses reached $12.4 million, or 1.19% of loans. Gaming and fintech initiatives advanced through a new BVNKROLL/AXES agreement and progress on a Visa prepaid card program and BoltBetz deployments. Separately, Executive Vice President and Chief Financial Officer Jeffrey E. Whicker departed on July 24, 2026; he will receive severance benefits under his employment agreement, and Olivia M. Caley continues as Principal Financial Officer while a CFO search is conducted.

Positive

• Q2 2026 net income $5.5 million ($0.38 EPS) versus $1.3 million ($0.09) in Q1 and $4.8 million ($0.33) a year earlier, supported by record net revenue of $22.0 million and pre-provision net revenue of $10.0 million.
• Book value per share $11.94, up 3.1% from March 31, 2026 and 12.3% from June 30, 2025, with common equity to assets at 12.07% and the Bank’s Tier 1 leverage ratio at 13.2%.
• BVNKROLL/AXES AI agreement extends the slot and gaming payments platform to 67 operators across 12 states, while BoltBetz approvals and a Visa prepaid card in testing expand the gaming-focused payments ecosystem.

Negative

• Non-performing assets $60.2 million, or 4.20% of total assets, up from $44.1 million (3.17%) in the prior quarter and $18.4 million (1.49%) a year earlier, indicating significantly higher problem assets.
• Provision for credit losses on loans $2.8 million in Q2 2026 versus $2.3 million in Q1 and $1.1 million a year earlier, including an additional $771 thousand reserve for elevated retail credit card delinquencies.
• Gaming-related credit card transaction volume declined to $84.2 million after certain major operators stopped accepting credit cards as a funding source; management anticipates volumes stabilizing around $45–$50 million per quarter.
• CFO Jeffrey E. Whicker separated from the company on July 24, 2026 and will receive 12 months of base salary and benefit continuation, creating senior finance leadership transition risk while a new Chief Financial Officer is recruited.

Filing Explained

At June 30, non-guaranteed non-performing assets were $23.3 million, up from $13.2 million three months earlier.

Although the release says the financial risk from non-performing assets is well contained, the June 30, 2026 figures show the non-guaranteed portion rising to $23.3 million from $13.2 million three months earlier, or 1.63% of total assets; this increases the company’s disclosed credit exposure.

The increase included $14.7 million of commercial real estate and commercial and industrial loans transferred to nonaccrual status, plus $4.3 million of loans that were at least 90 days past due while still accruing.

The company says it began transitioning to a process under which the USDA or SBA will repurchase the sold portion of a non-performing guaranteed loan; that process is the named path for handling future government-guaranteed balances.

The Visa prepaid card program remains in testing, with commercial launch expected during the fourth quarter of 2026; the filing therefore describes a planned launch, not a completed commercial product.

8-K Event Classification

3 items: 2.02, 5.02, 9.01

3 items

Item 2.02 Results of Operations and Financial Condition Financial

Disclosure of earnings results, typically an earnings press release or preliminary financials.

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers Governance

Key personnel changes including departures, elections, or appointments of directors and executive officers.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, and exhibit attachments filed with this report.

Key Figures

Q2 2026 Net Income: $5.5 million Q2 2026 Net Revenue: $22.0 million Net Interest Margin: 3.78% +5 more

8 metrics

Q2 2026 Net Income $5.5 million Quarter ended June 30, 2026, versus $1.3 million in Q1 2026 and $4.8 million in Q2 2025

Q2 2026 Net Revenue $22.0 million Record net revenue in Q2 2026, up 11.7% from $19.6 million in Q1 2026

Net Interest Margin 3.78% Net interest margin for Q2 2026, down from 3.86% in Q1 2026 and 4.31% in Q2 2025

Non-performing Assets $60.2 million Non-performing assets as of June 30, 2026, equal to 4.20% of total assets

Allowance for Credit Losses $12.4 million Allowance for credit losses as of June 30, 2026, representing 1.19% of total loans

Total Assets $1.43 billion Total assets as of June 30, 2026, up 16.2% from $1.23 billion as of June 30, 2025

Book Value Per Share $11.94 Book value per common share as of June 30, 2026, 12.3% higher than $10.63 a year earlier

SBA and Commercial Originations $132.3 million SBA lending and commercial banking loan originations in Q2 2026, compared to $208.1 million in Q1 2026

Key Terms

pre-provision net revenue, non-performing assets, Tier 1 leverage ratio, allowance for credit losses, +2 more

6 terms

pre-provision net revenue financial

"Pre-provision net revenue(1) of $10.0 million, up $6.2 million"

Pre-provision net revenue is a bank’s income from core operations — interest earned minus interest paid plus fees and other operating income, after operating costs — measured before setting aside funds for potential loan losses. Investors use it to gauge how well a bank’s everyday business generates money independent of one-time loss reserves, like judging a store’s sales and operating profit before accounting for an expected number of returned items.

non-performing assets financial

"Non-performing assets totaled $60.2 million as of June 30, 2026"

Loans or other credit exposures that are not producing expected income because borrowers have stopped making scheduled payments for a significant period (commonly around 90 days). Think of it like a business lending money that has gone quiet — the cash flow stops while the lender still carries the debt on its books. High levels of non-performing assets matter to investors because they reduce a lender’s earnings, tie up capital that could be used for growth, and signal higher risk of future losses.

Tier 1 leverage ratio financial

"The Bank’s Tier 1 leverage ratio was 13.2% as of June 30, 2026"

Tier 1 leverage ratio measures a bank’s core capital — the money that can absorb losses — as a share of its total assets, showing how much of its balance sheet is funded by real loss-absorbing capital rather than borrowed money. Investors use it like a safety gauge: a higher ratio means a bigger cushion against shocks and lower risk of insolvency, similar to how a thicker spare tire reduces the chance of being stranded.

allowance for credit losses financial

"The Company’s allowance for credit losses totaled $12.4 million as of June 30, 2026"

Allowance for credit losses is a reserve set aside by a financial institution to cover potential losses from borrowers who may not repay their loans. It acts like a safety net, helping the institution prepare for loans that might turn sour. For investors, it signals how cautious the institution is about the quality of its loans and potential risks to its financial health.

gain on loan sales margin financial

"Gain on loan sales margin(1) of 5.04% compared to 4.79%"

BVNKROLL financial

"Bankroll LLC ("BVNKROLL"), our partner through our equity investment in BCS"

Earnings Snapshot

Net income: $5.5 million

quarter ended June 30, 2026

Net income $5.5 million Up from $1.3 million in Q1 2026 and $4.8 million in Q2 2025

Diluted EPS $0.38 Up from $0.09 in Q1 2026 and $0.33 in Q2 2025

Net revenue $22.0 million Increased 11.7% from $19.6 million in Q1 2026 and 23.5% from $17.8 million in Q2 2025

Adjusted net income (YTD) $10.1 million Six months ended June 30, 2026 excluding credit card fraud losses, compared with $9.2 million GAAP net income in the first half of 2025

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Available on EDGAR 07/29/2026 - 04:16 PM Accepted by SEC EDGAR 07/29/2026 - 04:15 PM Learn about SEC filing dates

FAQ

What were GBank Financial (GBFH) Q2 2026 earnings?

GBank reported Q2 2026 net income of $5.5 million, or $0.38 per diluted share. This compares with $1.3 million ($0.09) in Q1 2026 and $4.8 million ($0.33) in Q2 2025, reflecting a strong rebound in quarterly profitability.

How did GBFH’s revenue and efficiency ratio perform in Q2 2026?

Net revenue reached a record $22.0 million, up 11.7% from $19.6 million in Q1 2026 and 23.5% above Q2 2025. The efficiency ratio improved to 54.7% from 80.8% in Q1 2026, helped by the absence of prior-quarter credit card fraud expenses.

What is the asset quality picture for GBFH as of June 30, 2026?

Non-performing assets rose to $60.2 million, or 4.20% of total assets, versus 3.17% in March 2026 and 1.49% a year earlier. The allowance for credit losses was $12.4 million, equal to 1.19% of loans, reflecting higher provisions and specific reserves.

How is GBFH’s capital and book value trending?

Stockholders’ equity reached $172.8 million, with book value per share of $11.94, up 12.3% year over year. Common equity to assets was 12.07%, and the Bank’s Tier 1 leverage ratio stood at 13.2%, indicating a solid capital position.

What strategic gaming and fintech developments did GBFH highlight?

Through BVNKROLL, GBank entered an agreement with AXES AI, extending its payments platform to 67 operators in 12 states. The company is also testing a Visa Prepaid Card for expected Q4 2026 launch and expanding BoltBetz deployments within Nevada gaming venues.

What changes to GBFH’s credit card business were disclosed?

Gaming-related credit card volume declined to $84.2 million after some major operators stopped using cards as a funding source. Management anticipates quarterly volume stabilizing around $45–$50 million and recorded an extra $771 thousand provision tied to legacy retail credit card delinquencies.

What CFO transition did GBank Financial (GBFH) announce?

Executive Vice President and CFO Jeffrey E. Whicker separated from GBank and its bank subsidiary on July 24, 2026. Under his employment agreement, he receives 12 months of base salary and continued benefits, while Olivia M. Caley continues as Principal Financial Officer during the CFO search.

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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): July 24, 2026

GBank Financial Holdings Inc.

(Exact name of Registrant as Specified in Its Charter)

Nevada			001-42621	82-3869786
(State or Other Jurisdiction of Incorporation)			(Commission File Number)	(IRS Employer Identification No.)
9115 West Russell Road Suite 110
Las Vegas, Nevada				89148
(Address of Principal Executive Offices)				(Zip Code)

Registrant’s Telephone Number, Including Area Code: (702) 851-4200

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Common Stock, par value $0.0001 per share		GBFH		The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02 Results of Operations and Financial Condition.

On July 29, 2026, GBank Financial Holdings Inc. (the “Company”) issued a press release announcing its financial results for the second quarter ended June 30, 2026. A copy of the Company’s press release covering such announcement and certain other matters is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.

The information in Item 2.02 of this Current Report on Form 8-K, including Exhibit 99.1 furnished herewith, shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall they be deemed incorporated by reference into any filing or other document pursuant to the Exchange Act or the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such filing or document.

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On July 24, 2026, Jeffrey E. Whicker had a separation of service from his positions as Executive Vice President and Chief Financial Officer of GBank Financial Holdings Inc. (the “Registrant”) and GBank (the “Bank”), the Registrant’s wholly-owned subsidiary.

Pursuant to the Mr. Whicker's Employment Agreement dated August 1, 2022, Mr. Whicker is entitled to certain severance and other benefits in connection with the separation of service of his employment, including continued base salary for twelve months and continued participation in certain benefit plans, in each case subject to the terms and conditions of the Employment Agreement.

The board of directors of Registrant previously designated Olivia M. Caley as the Company’s Principal Financial Officer for purposes of the Company’s filings under the Securities Exchange Act of 1934, and Ms. Caley will continue to serve in that capacity while the Registrant conducts a search for a new Chief Financial Officer.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

99.1 Press Release dated July 29, 2026, reporting the Company's financial results for the second quarter ended June 30, 2026

104 Cover Page Interactive Data File (formatted as Inline XBRL).

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

			GBANK FINANCIAL HOLDINGS INC.
Date:	July 29, 2026	By:	/s/ Edward M. Nigro
			Edward M. Nigro Executive Chairman and Chief Executive Officer

Exhibit 99.1

Company Release – 07/29/2026

GBank Financial Holdings Inc. Announces Second Quarter 2026 Financial Results

LAS VEGAS, NV, July 29, 2026 -- GBank Financial Holdings Inc. (the “Company”) (NASDAQ: GBFH), the parent company of GBank (the “Bank”), today reported net income of $5.5 million, or $0.38 per diluted share, for the quarter ended June 30, 2026, compared to $1.3 million, or $0.09 per diluted share during the first quarter of 2026, and $4.8 million, or $0.33 per diluted share, for the second quarter of 2025. For the six months ended June 30, 2026, net income was $6.8 million, or $0.47 per diluted share, compared to $9.2 million, or $0.65 per diluted share, for the comparable six-month period of 2025. Excluding the impact of credit card fraud losses recorded during the first quarter of 2026, adjusted net income(1) for the six months ended June 30, 2026 was $10.1 million, or $0.69 adjusted diluted earnings per share(1).

Second Quarter 2026 Comments (Unaudited)

•Net revenue(1) of $22.0 million, a record quarter for the Company, and an 11.7% 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% from 3.86% in the quarter ended March 31, 2026. A decline in yield on Loans and Loans Held For Sale (“Loans”) to 7.31% from 7.38% 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 to 4.79% 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, representing 1.63% of total assets compared to $13.2 million as of March 31, 2026, representing 0.70% 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 32.99% by GBFH, we have our first signed client contract. Second, AXES is a cloud-based all-digital casino management platform. By incorporating our complete payment solution into the AXES intelligent management system (IMS), AXES will be giving their operating customers something no legacy CMS has ever offered: a single, real-time payments process that spans the gaming floor, the digital wallet, and the financial transaction, all in one platform.This agreement validates the BVNKROLL business strategy and is the first step towards imbedding GBank into the cashless payments operations of the bricks and mortar casino industry. AXES currently serves sixty-seven gaming operators and distributors across twelve states, has a global footprint spanning over thirty countries and millions of customers. GBank, BCS and BVNKROLL could not be more enthusiastic about this agreement,” concluded Mr. Nigro.

Financial Results

Income Statement

Net interest income totaled $12.8 million for the second quarter of 2026, reflecting an increase of $610 thousand, or 5.0%, compared to $12.2 million for the first quarter of 2026, and an increase of $413 thousand, or 3.3%, compared to the second quarter of 2025.

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 4.64% for the second quarter of 2026, compared to 4.39% for the first quarter of 2026 and 4.73% for the second quarter of 2025. The increase in investment yield when compared to the prior quarter was the result of the full-quarter impact of $51.6 million of available for sale mortgage-backed securities purchased during the first quarter of 2026, as well as $7.9 million of available for sale mortgage-backed securities purchased during the second quarter of 2026. The change when compared to the previous year was the result of changing investment mix over the previous twelve month period designed to address asset-liability management objectives.

The Company’s net interest margin for the second quarter of 2026 was 3.78%, compared to 3.86% for the first quarter of 2026 and 4.31% for the second quarter of 2025. The decrease in net interest margin during the second quarter of 2026 when compared to the previous quarter was the result of both (i) a decline in the yield on loans to 7.31% from 7.38%, and (ii) the first quarter of 2026 reflecting a one-time special dividend on restricted stock held at the Federal Home Loan Bank of San Francisco ("FHLB") of $158 thousand while simultaneously lowering future dividend rates from 8.75% to 4.75%. The year-over-year decline in quarterly net interest margin reflects the impact of a cumulative 75 basis point reduction in the target federal funds rate on the Company’s variable-rate loan portfolio over the preceding twelve months.

The Company recorded a provision for credit losses on loans of $2.8 million for the second quarter of 2026, compared to $2.3 million of provision expense recorded during the first quarter of 2026, and $1.1 million of provision expense recorded during the second quarter of 2025. Please refer to information under the heading "Asset Quality" for more information regarding the provision for credit losses.

Non-interest income was $9.1 million for the second quarter of 2026, compared to $7.5 million for the first quarter of 2026, and $5.4 million for the second quarter of 2025. The increase of $1.6 million when compared to the first quarter of 2026 was primarily due to increases in net gains on sale of loans of $1.7 million. The $3.8 million increase in non-interest income during the second quarter of 2026 when compared to the second quarter of 2025 was primarily due to an increase in net gains on sales of loans of $3.0 million as well as increases of $498 thousand in loan servicing income and $288 thousand in net interchange fees.

Net revenue(1) totaled $22.0 million for the second quarter of 2026, representing an increase of $2.3 million, or 11.7%, compared to $19.6 million for the first quarter of 2026. Net revenue for the second quarter of 2026 increased $4.2 million, or 23.5%, when compared to $17.8 million for the second quarter of 2025.

Non-interest expense was $12.0 million during the second quarter of 2026, compared to $15.9 million for the first quarter of 2026 and $10.4 million for the second quarter of 2025. The quarter-over-quarter decrease in non-interest expense was principally due to $4.2 million of third-party credit card fraud expense recorded during the first quarter of 2026.

The Company’s efficiency ratio was 54.7% for the second quarter of 2026, compared to 80.8% for the first quarter of 2026 and 58.5% for the second quarter of 2025. The higher efficiency ratio for the first quarter of 2026 was due primarily to the $4.2 million of third-party credit card fraud expense recorded as a component of non-interest expense.

Income tax expense was $1.6 million for the quarter ended June 30, 2026, compared to $139 thousand for the first quarter of 2026, and $1.5 million for the second quarter of 2025. The Company’s effective tax rate was 22.9% for the quarter ended June 30, 2026, compared to 9.4% for the quarter ended March 31, 2026, and 23.2% for the quarter ended June 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.

Net income was $5.5 million for the second quarter of 2026, an increase of $4.1 million from $1.3 million for the first quarter of 2026, and an increase of $707 thousand from $4.8 million during the second quarter of 2025. Diluted earnings per share were $0.38 for the second quarter of 2026, compared to $0.09 for the first quarter of 2026 and $0.33 for the second quarter of 2025.

(1) See Reconciliation of Non-GAAP Financial Measures

Balance Sheet

Total assets were $1.4 billion as of both June 30, 2026 and March 31, 2026, an increase of 16.2% from $1.2 billion as of June 30, 2025. The increase in total assets from June 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 $2.6 billion as of June 30, 2026.

The investment securities portfolio increased by $3.7 million during the second quarter of 2026 primarily due to the purchase of two available for sale investment securities totaling $8.0 million. This increase was partially offset by principal paydowns.

Total loans, net of deferred fees and costs, were $1.0 billion as of June 30, 2026 and March 31, 2026, and $871.6 million as of June 30, 2025. Loans, net of deferred fees and costs increased $22.2 million during the second quarter of 2026 primarily due to an increase of $22.3 million in commercial real estate loans. The increase in loans, net of deferred fees and costs, of $175.7 million from June 30, 2025, was driven by an increases of $159.3 million in commercial real estate loans and $21.7 million in commercial and industrial loans. Total government guaranteed loans as a percentage of total loans(1) were 16.7% as of June 30, 2026, compared to 17.3% as of March 31, 2026, and 22.1% as of June 30, 2025.

The Company’s allowance for credit losses totaled $12.4 million as of June 30, 2026, compared to $10.8 million as of March 31, 2026, and $9.2 million as of June 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 June 30, 2026 and March 31, 2026, an increase of $173.3 million from $1.0 billion as of June 30, 2025. The increase of $34.8 million from the prior quarter was driven by increases in non-interest bearing demand and savings and money market balances of $18.4 million and $71.6 million, respectively, due primarily to the expansion of existing customer relationships. These increases were partially offset by decreases of $13.2 million in interest bearing demand and $42.1 million in certificates of deposits. The increase compared to June 30, 2025 was driven by growth across all categories of deposits.

The Company’s ratio of loans to deposits was 86.9% as of June 30, 2026, compared to 87.5% as of March 31, 2026, and 84.4% as of June 30, 2025.

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 $457.5 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 $30.3 million as of June 30, 2026 and March 31, 2026 and $26.1 million as of June 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 $172.8 million as of June 30, 2026, compared to $167.6 million as of March 31, 2026, and $151.7 million as of June 30, 2025. The increase in stockholders’ equity when compared to both the prior quarter and the prior year is attributable to increases in retained earnings resulting from net income earned during each respective period.

The Company’s ratio of common equity to total assets was 12.07% as of June 30, 2026 compared to 12.03% as of March 31, 2026 and 12.30% as of June 30, 2025. The Bank’s Tier 1 leverage ratio was 13.2% as of June 30, 2026 and March 31, 2026, and 13.8% as of June 30, 2025. The Company’s book value per share was $11.94 as of June 30, 2026, an increase of 3.1% from $11.58 as of March 31, 2026, and an increase of 12.3% from $10.63 as of June 30, 2025.

Asset Quality

The Company recorded a provision for credit loss expense for loans of $2.8 million for the second quarter of 2026, compared to $2.3 million recorded during the first quarter of 2026 and $1.1 million of provision expense recorded during the second quarter of 2025. The provision for credit losses for loans during the second quarter of 2026 reflects (i) $1.2 million of charge offs recorded during the second 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 $919 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 $771 thousand due to elevated delinquency levels of the non-gaming credit card holders.

(1) See Reconciliation of Non-GAAP Financial Measures

The Company’s allowance for credit losses totaled $12.4 million as of June 30, 2026, compared to $10.8 million as of March 31, 2026, and $9.2 million as of June 30, 2025. The allowance for credit losses as a percentage of total loans was 1.19% as of June 30, 2026, compared to 1.05% as of March 31, 2026 and 1.06% as of June 30, 2025. The allowance for credit losses as a percentage of total loans, excluding government guaranteed portions(1), was 1.42% as of June 30, 2026, compared to 1.27% as of March 31, 2026, and 1.36% as of June 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 second quarter of 2026 totaled $1.2 million, or 0.42% of average net loans (annualized), compared to net loan charge offs of $1.5 million, or 0.57% of average net loans (annualized) in the first quarter of 2026 and $870 thousand of net loan charge offs, or 0.38% of average net loans (annualized) during the second quarter of 2025.

The balance of other real estate owned increased to $5.7 million as of June 30, 2026 compared to $4.4 million as of March 31, 2026. The Company had no other real estate owned as of June 30, 2025. The increase in other real estate owned during the second quarter of 2026 was attributable to the completion of foreclosure proceedings on two commercial real estate - non-owner occupied properties totaling $2.0 million. This increase was partially offset by the sale of one commercial real estate - non-owner occupied property during the second quarter of 2026 totaling $765 thousand.

Non-performing assets totaled $60.2 million as of June 30, 2026, an increase of $16.0 million from $44.1 million as of March 31, 2026, and an increase of $41.8 million from $18.4 million as of June 30, 2025. The increase was driven by $14.7 million of commercial real estate and commercial and industrial loans transferred to nonaccrual status during the quarter. These loans are primarily collateralized by hotel/motel properties, business assets, and single-family residential properties. Contributing to the increase was the addition of $4.3 million of loans ninety days past due and accruing, comprised of certain commercial real estate, commercial and industrial, and consumer loans.

Our non-performing assets to total assets ratio was 4.20% as of June 30, 2026, compared to 3.17% as of March 31, 2026, and 1.49% as of June 30, 2025. At June 30, 2026, this ratio includes government guaranteed balances of $36.9 million in the balance of non-performing assets (numerator). Excluding the government guaranteed portion of non-performing assets(1), total at-risk non-performing assets were $23.3 million as of June 30, 2026 and the ratio of non-performing assets excluding the government guaranteed portion(1) reflects 1.63% of total assets.

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 $1.2 billion that increase our total assets under management to $2.6 billion. During the second quarter of 2026, we began transitioning to a process whereby the USDA or SBA will repurchase the sold portion of the non-performing loan.

Other Financial and Operational Highlights

SBA Lending and Commercial Banking

SBA lending and commercial loan originations totaled $132.3 million during the second quarter of 2026, compared to $208.1 million for the first quarter of 2026 and $160.7 million for the second quarter of 2025.

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 5.04% for the second quarter of 2026, compared to 4.79% for the first quarter of 2026, and 3.16% for the second quarter of 2025. This improvement in pricing quarter-over-quarter, along with the volume increase of $31.0 million in loan sales, resulted in a 46.3% increase in gain on sale of loans when compared to the first quarter of 2026.

(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 $84.2 million during the second quarter following the decision by certain major sports betting operators and their affiliates to discontinue credit cards as a funding source. While the number of active cardholders remained relatively stable, transaction activity among higher-limit sports and iGaming customers moderated during the quarter. Based on current activity levels, we anticipate quarterly transaction volume with these operators to stabilize in the range of approximately $45 million to $50 million. We believe the introduction of our Visa Prepaid Card program may provide an alternative funding source for our customers.

During the quarter, we recorded an additional provision for credit losses of approximately $771,000 related to retail credit card delinquencies. These accounts were primarily generated through a direct-mail marketing campaign that was discontinued last year. We do not currently market to retail credit card customers, and the size of this portfolio continues to decline. We expect the combination of a shrinking portfolio and enhanced collection procedures to contribute to improved credit performance over time.

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.

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