Georgia Banking Company (GBC) Q3 2026 earnings summary

Executive summary

• First full quarter of combined operations after Tandem closed June 1 and integration was completed in September; Q3 net income was $6.263MM and diluted EPS was $0.57.

• Operating diluted EPS was $0.74; adjusted operating earnings were $8.074MM and operating PPNR rose 6.2% QoQ to $12.926MM.

• HFI loans grew 6.2% QoQ to $2.2B; average deposits were $2.7B, up 27.7% YoY.

Financial highlights

• Net interest income was $31.4MM, up 8.0% QoQ and 14.8% YoY; reported PPNR was $10.5MM, up 20.4% QoQ.

• Noninterest income was $2.8MM, down 13.8% QoQ, primarily on lower retail mortgage originations; it rose 57.1% YoY on higher loan-sale gains, fees and mortgage banking.

• Noninterest expense was $23.8MM, up 0.4% QoQ and 29.0% YoY; Q3 included $2.0MM of direct-listing and $493,000 of M&A costs, before tax.

• Average loans rose 6.7% QoQ to $2.5B; period-end deposits were $2.70B, down $136.2MM QoQ, including a $171.8MM decline in interest-bearing balances.

Outlook and guidance

• Growth priorities include treasury services, commercial and CRE lending, deposit gathering, client service, sustainable profitable growth and operating leverage.

• Fee initiatives include treasury management expansion, restoring retail mortgage volume as rates normalize and deepening fees from existing warehouse clients.

• Strategic plans include selective Atlanta-area acquisitions, team lift-outs and other disciplined growth opportunities.