GBank Financial Holdings (GBFH) investor relations material

Executive summary

• Q3 net income was $3.9M, or $0.27 diluted EPS, versus $5.5M and $0.38 in Q2; adjusted net income was $4.3M, or $0.30 adjusted diluted EPS.

• Higher net interest income and NIM supported results, while lower interchange income, fewer loan sales and elevated credit costs weighed on reported earnings.

• Strategy focuses on core banking growth, credit cleanup, gaming payments expansion and operating discipline; Jeff Newgard became President and CEO of the holding company and bank, and Chairman of the bank.

Financial highlights

• Net interest income rose 6.4% QoQ to $13.6M; net revenue was $20.3M, down 7.3% QoQ and up 0.8% YoY.

• Non-interest income was $6.7M, down $2.4M QoQ, including a $1.5M decline in net interchange fees and $0.8M lower loan-sale gains.

• Non-interest expense was $12.8M versus $12.0M in Q2; Q3 included $0.6M of non-core items, including $0.5M severance and $0.1M fraud losses.

• 9M 2026 net income was $10.6M, or $0.73 diluted EPS, versus $13.5M and $0.93 in 9M 2025; adjusted net income was $14.4M versus $16.4M.

• SBA and commercial loan originations totaled $171.7M; gain-on-sale margin rose to 5.57% from 5.04% QoQ. New SBA procedures shift some Q4 sale gains into January.

Outlook and guidance

• Management aims to strengthen the core bank, complete team-building and resolve earnings headwinds by year-end; credit costs are expected to move toward normalized levels in 2027.

• Long-term loan growth expectation was 10%–15%; normalized quarterly gain-on-sale margin was described as 5%–6%.

• Gaming initiatives may show deposit growth and operating milestones through 2027 but are not expected to contribute materially near term; no dollar projections were offered.

• LuckyLoads is expected to launch in Q2 2027 after technical delays; AXES/BVNKROLL integration was expected by year-end 2026, with operator launches anticipated in 2027.

• Organic growth is the capital priority, with investment focused on core banking and growth initiatives to enhance shareholder value.