Financial Performance & Growth - GBank Financial Holdings Inc has demonstrated industry-leading growth, with total loans up by 62% and total deposits up by 49% from September 30, 2023, to September 30, 2024[10] - The company's YTD pre-tax income increased by 89%, and YTD net income increased by 81%[10] - Total assets reached $1048 million as of September 30, 2024[10,30] - The company has shown consistent profitability, with core return on average assets between 153% and 204% since 2018[12] Key Financial Metrics (Q3 2024) - Net interest margin stood at 500%[10] - Core ROAA was 196%[10] - Core ROAE was 1729%[10] - The efficiency ratio was 592%[30] - Total tangible equity was $1164 million, representing 111% of total assets[30] Strategic Initiatives & Opportunities - GBank is a top originator of SBA 7(a) credits and the leading originator of hotel SBA loans in the country[12] - The company has partnered with BankCard Services LLC, positioning itself as a market leader in the Gaming FinTech space[12] - GBank's Visa Signature® card saw quarterly transaction volume increase from $11 million to $139 million from Q1 2024 to Q3 2024[13] Loan Portfolio & Asset Quality - The loan portfolio totaled $846 million, with a yield of 857%[71] - Government guaranteed loans constitute 315% of the loan portfolio[71] - Non-performing assets (NPAs) excluding government guaranteed assets, represent 015% of total assets[30] - The allowance for credit losses (ACL) to gross loans, excluding government guaranteed loans, is 136%[30]

Financial Performance - Net income for the three months ended March 31, 2025, was $4.47 million, an increase from $3.70 million in the same period of 2024[122] - Diluted earnings per share rose to $0.31, compared to $0.29 for the three months ended March 31, 2024[123] - Net interest income increased by $1.1 million, or 10%, to $11.9 million for the three months ended March 31, 2025[138] - Noninterest income rose to $5.5 million in Q1 2025, a 127.2% increase from $2.4 million in Q1 2024, driven by significant growth in loan servicing income and net interchange fees[148] - Income tax expense was $1.2 million for Q1 2025, a 10% increase from $1.1 million in Q1 2024, primarily due to higher pre-tax earnings[158] - Stockholders' equity increased by 4% to $146.6 million as of March 31, 2025, driven by net income generated during the first quarter[190] Asset and Loan Growth - Total assets increased by 6% to $1.190 billion at March 31, 2025, compared to $1.122 billion at December 31, 2024, primarily due to a $27.4 million increase in net loans[159] - Total loans, net of deferred loan costs, increased by 3% to $843.4 million at March 31, 2025, compared to $816.0 million at December 31, 2024[165] - Loan growth was $27.4 million, representing a 3% increase compared to the previous year[123] - As of March 31, 2025, total loans amounted to $843.4 million, an increase from $816.0 million at December 31, 2024[166] Non-Performing Assets - Non-performing assets increased to $20.4 million, representing 1.71% of total assets, up from $14.2 million at December 31, 2024[129] - Non-performing loans increased to $20.4 million as of March 31, 2025, compared to $14.2 million at December 31, 2024[177] Interest and Deposits - Net interest margin decreased to 4.47% from 4.85% year-over-year[122] - Interest income increased by $2.0 million due to a $184.0 million increase in average interest-earning assets over the twelve-month period ending March 31, 2025[139] - Interest-bearing deposits totaled $715.5 million, with a cost of 4.10%[138] - Total deposits rose by 7% to $995.9 million at March 31, 2025, up from $935.1 million at December 31, 2024[184] - As of March 31, 2025, total deposits increased to $934.4 million, up from $781.7 million as of December 31, 2024, reflecting a growth of approximately 19.5%[185] Expenses and Liabilities - Noninterest expense increased by 30% to $10.9 million for Q1 2025, compared to $8.4 million for Q1 2024, driven by higher salaries and employee benefits[153] - The company’s total liabilities increased by $61.7 million, or 6%, to $1.043 billion at March 31, 2025[183] - Other liabilities decreased by 4% to $15.0 million, driven by a reduction in accrued interest payable[189] Capital and Liquidity - The Company's Tier 1 Capital Leverage Ratio improved to 14.23% as of March 31, 2025, up from 12.90% at the end of 2024[194] - Total primary liquidity sources amounted to $259.8 million as of March 31, 2025, compared to $222.4 million at December 31, 2024, indicating a liquidity increase of 16.8%[198] - Unused borrowing capacity with the FHLB of San Francisco increased to approximately $90.0 million as of March 31, 2025, from $85.0 million at the end of 2024[198] - The Company had no short-term borrowings as of March 31, 2025, maintaining a stable debt position[187] Other Assets and Operations - Cash and cash equivalents increased by 18% from $124.1 million at December 31, 2024, to $147.0 million at March 31, 2025[160] - Operating lease right of use asset increased by $1.4 million to $6.0 million at March 31, 2025, due to lease modifications[179] - Loan servicing assets increased by $255 thousand to $9.2 million at March 31, 2025, primarily due to the addition of servicing rights[180] - Other assets totaled $21.0 million at March 31, 2025, reflecting a 9% increase compared to $19.4 million at December 31, 2024[182]

Financial Performance - Net income for Q1 2025 was $4.5 million, a decrease of 14.9% from $5.2 million in Q4 2024, but an increase of 20.8% from $3.7 million in Q1 2024[1][16] - Net revenue for Q1 2025 totaled $17.4 million, reflecting a 31.4% increase compared to $13.2 million in Q1 2024, but a slight decrease of 1.1% from $17.6 million in Q4 2024[6][13] - The Company's net income for Q1 2025 was $4.5 million, with earnings per diluted share of $0.31, compared to $5.2 million and $0.37 in Q4 2024, and $3.7 million and $0.29 in Q1 2024[46][47] - Net revenue for the three months ended March 31, 2025, was $17,357,000, an increase from $13,207,000 in the same period last year, representing a growth of 31.5%[58] - Net interest income for the same period was $11,894,000, compared to $10,802,000 a year ago, reflecting an increase of 10.1%[60] - Net income for the quarter was $4.505 million, a decrease from $5.244 million in the previous quarter, indicating a decline of 14.1%[54] - Earnings per share (EPS) for the quarter was $0.31, down from $0.37 in the previous quarter[54] Revenue and Income Sources - Non-interest income reached $5.5 million in Q1 2025, up 131.3% from $2.4 million in Q1 2024, driven by increased credit card net interchange fees[12] - Total interest income for the three months ended March 31, 2025, was $19.409 million, a slight decrease from $19.610 million in the previous quarter[54] - Total other income for the quarter was $5.463 million, down from $5.764 million in the previous quarter[54] Assets and Liabilities - Total assets increased by 6.0% to $1.190 billion as of March 31, 2025, from $1.122 billion as of December 31, 2024, and increased by 23.5% from $963.4 million as of March 31, 2024[26] - Total liabilities of $1,043,396, an increase of 6.3%, or $61,732[52] - Total deposits increased by $189.0 million, or 23.4%, from $806.9 million as of March 31, 2024, to $995.9 million as of March 31, 2025[20] - Total interest-bearing deposits increased to $715.482 million from $678.806 million in the previous quarter, reflecting a growth of 5.0%[56] Equity and Book Value - Stockholders' equity increased to $146.6 million as of March 31, 2025, up from $102.6 million as of March 31, 2024, driven by net income and capital increases from the previous offering[23] - The Company's book value per share was $10.27 as of March 31, 2025, an increase of 4.1% from $9.87 as of December 31, 2024, and an increase of 28.4% from $8.00 as of March 31, 2024[24] Loan and Credit Performance - Total loans, net of deferred fees and costs, increased to $843.4 million as of March 31, 2025, up from $733.6 million as of March 31, 2024[18] - The provision for credit losses on loans totaled $710 thousand for Q1 2025, down from $1.3 million in Q4 2024, with net loan charge-offs of $828 thousand, or 0.39% of average net loans[27] - SBA Lending and Commercial Banking loan originations totaled $133.0 million for Q1 2025, compared to $120.0 million for Q4 2024 and $136.6 million for Q1 2024[33] - Loan originations of $133.0 million, a decrease of 2.7%, or $3.6 million[49] Non-Performing Assets - Non-performing assets totaled $20.4 million as of March 31, 2025, an increase of $6.2 million from $14.2 million as of December 31, 2024, and an increase of $14.2 million from $6.1 million as of March 31, 2024[30] - The ratio of total non-performing assets to total assets was 1.71% as of March 31, 2025, compared to 1.26% as of December 31, 2024, and 0.64% as of March 31, 2024[32] - Total non-performing assets increased to $20,373,000, up from $14,168,000 in the same quarter last year, marking a rise of 43.8%[60] - The allowance for credit losses (ACL) to non-accrual loans ratio was 47.96% for Q1 2025, compared to 65.96% in Q1 2024, indicating a decrease in coverage[58] Operational Efficiency - The company's efficiency ratio was 62.8% in Q1 2025, compared to 55.4% in Q4 2024 and 63.4% in Q1 2024[14] - The efficiency ratio improved to 62.84% in Q1 2025 from 63.41% in Q1 2024, indicating better operational efficiency[58] Employee Metrics - The company had 175 full-time equivalent employees as of March 31, 2025, an increase from 150 employees as of March 31, 2024[17] - The number of employees (FTE) increased to 175 from 150 year-over-year, indicating a growth in workforce[58] Other Key Metrics - The net interest margin for Q1 2025 was 4.47%, down from 4.85% in Q1 2024, reflecting the impact of a 50 basis point decrease in the federal funds rate[10] - The average yield on earning assets was 7.29% for the quarter, compared to 7.53% in the previous quarter[56] - Credit card charge transactions reached $105.6 million for Q1 2025, compared to $51.7 million for Q4 2024 and $1.1 million for Q1 2024[37] - Gaming FinTech deposits averaged $37.1 million for Q1 2025, compared to $30.5 million for Q4 2024[35] - The Company is onboarding three new programs with BCS, expected to be active early in Q2 2025, and has launched the GBank Visa Signature® Card for prime and super-prime consumers[34][36]

S-1/A 1 gbfh_s1.htm FORM S-1/A As submitted to the Securities and Exchange Commission on April 1, 2025. Registration No. 333-285750 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 AMENDMENT NO. 2 TO FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 (Address, including zip code, and telephone number, including area code, of registrant's principal executive offices) GBANK FINANCIAL HOLDINGS INC. (Exact name of registrant as specified in its charter) (State or Other Juris ...

S-1 1 gbfh_s1.htm FORM S-1 As submitted to the Securities and Exchange Commission on March 12, 2025. Registration No. 333-________ UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 AMENDMENT NO. 1 TO FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 GBANK FINANCIAL HOLDINGS INC. (Exact name of registrant as specified in its charter) (State or Other Jurisdiction of (Primary Standard Industrial (IRS Employer Incorporation or Organization) Classification Number) Identificat ...