GBank Financial Holdings Inc. Announces Third Quarter 2026 Financial Results
Key Highlights
- ➤Q3 net income $3.9M, or $0.27 per diluted share, versus $5.5M prior quarter
- ➤Net revenue $20.3M, down 7.3% sequentially on lower interchange fees and loan sales
- ➤SBA originations $171.7M, up from $131.4M in Q2 2026
- ➤Net interest income $13.6M, up 6.4% sequentially; net interest margin reached 3.95%
- ➤Non-performing assets $54.2M, up $16.8M year over year despite declining sequentially
Expert Statements
Jeff Newgard, President and Chief Executive Officer of GBank Financial Holdings
“Despite the lower than expected earnings during the period, I want to emphasize that our core banking franchise performed well during the third quarter, with higher net interest income, an improved net interest margin, and strong SBA production and gain-on-sale margin.”
Jeff Newgard, President and Chief Executive Officer of GBank Financial Holdings
“While earnings were affected by lower interchange income following the decision by several large sports betting operators to discontinue credit cards as a funding source, as well as several one-time or non-core items, we believe the underlying performance of the bank reflects the strength of our franchise.”
Jeff Newgard, President and Chief Executive Officer of GBank Financial Holdings
“Going forward, my focus is on strengthening the core bank; building my team which I hope to have completed by year end; maintaining strong credit discipline and executing on the opportunities before us.”
Jeff Newgard, President and Chief Executive Officer of GBank Financial Holdings
“While the legacy retail credit card portfolio will continue to affect provision expense in the near term, we expect that impact to diminish as the portfolio continues to run off.”
Jeff Newgard, President and Chief Executive Officer of GBank Financial Holdings
“My goal for the company and shareholders is to address the items that have held back earnings and have them behind us by the end of the year, so that 2027 can be a fresh start at the bank and we will clearly see the impacts of our gaming fintech initiatives taking hold as we move through the year.”
LAS VEGAS, Oct. 28, 2026 (GLOBE NEWSWIRE) -- GBank Financial Holdings Inc. (the “Company”) (NASDAQ: GBFH), the parent company of GBank (the “Bank”), today reported net income of $3.9 million, or $0.27 per diluted share, for the third quarter ended September 30, 2026, compared to $5.5 million, or $0.38 per diluted share during the second quarter of 2026, and $4.3 million, or $0.30 per diluted share, for the third quarter of 2025. Excluding non-core items, adjusted net income⁽¹⁾ was $4.3 million, or $0.30 adjusted diluted earnings per share⁽¹⁾, for the third quarter of 2026, compared to $5.5 million, or $0.38, for the second quarter of 2026, and $6.3 million, or $0.44, for the third quarter of 2025.
For the nine months ended September 30, 2026, net income was $10.6 million, or $0.73 per diluted share, compared to $13.5 million, or $0.93 per diluted share, for the comparable nine-month period of 2025. Excluding non-core items, adjusted net income(()(1)) for the nine months ended September 30, 2026 was $14.4 million, or $0.99 adjusted diluted earnings per share⁽¹⁾ compared to $16.4 million, or $1.13, for the same period of 2025.
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