LAS VEGAS, July 29, 2026 (GLOBE NEWSWIRE) -- GBank Financial Holdings Inc. (the "Company") (NASDAQ: GBFH), the parent company of GBank (the "Bank"), today reported net income of $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)
Quarter
Linked Quarter Year-Over-Year
6/30/26 vs. 6/30/26 vs.
3/31/26 6/30/25
($'s in 000, except June 30, Mar 31, Dec 31, Sep 30, Jun 30,
per share data) 2026 2026 2025 2025 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 Jun 30, Mar 31, Dec 31, Sep 30, Jun 30, Jun 30, Jun 30,
per share data) 2026 2026 2025 2025 2025 2026 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)
For the Six Months
Three Months Ended Ended
($'s in 000, except Jun 30, Mar 31, Dec 31, Sep 30, Jun 30, Jun 30, Jun 30,
per share data) 2026 2026 2025 2025 2025 2026 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 Jun 30, Mar 31, Dec 31, Sep 30, Jun 30, Jun 30, Jun 30,
per share data) 2026 2026 2025 2025 2025 2026 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.