GBank Financial Holdings Inc. Announces Second Quarter 2026 Financial Results

GBank Financial Holdings Inc. (NASDAQ: GBFH) 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 for the six months ended June 30, 2026 was $10.1 million, or $0.69 adjusted diluted earnings per share. Net revenue 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 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 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, 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. Executive Chairman and CEO Ed Nigro stated, “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...