GBank Financial Holdings Inc(US:GBFH) Globenewswireยท2025-07-28 21:22Financial Performance - The company reported net income of $4.8 million for Q2 2025, an increase from $4.5 million in Q1 2025 and $4.7 million in Q2 2024, translating to $0.33 per diluted share compared to $0.31 and $0.36 respectively [1][15] - For the first half of 2025, net income was $9.2 million, up from $8.4 million in the same period of 2024 [1] - Net revenue for Q2 2025 totaled $17.8 million, a 2.4% increase from $17.4 million in Q1 2025 and a 14.6% increase from $15.5 million in Q2 2024 [12] Income and Expenses - Net interest income for Q2 2025 was $12.4 million, reflecting a 4.2% increase from Q1 2025 and a 9.2% increase from Q2 2024 [4][6] - Non-interest income was $5.4 million for Q2 2025, a slight decrease from $5.5 million in Q1 2025 but an increase from $4.2 million in Q2 2024 [11] - Non-interest expense decreased to $10.4 million in Q2 2025 from $10.9 million in Q1 2025, while it increased from $9.1 million in Q2 2024 [13] Loan and Deposit Growth - Total loans, net of deferred fees, increased to $871.6 million as of June 30, 2025, up from $843.4 million in Q1 2025 and $772.9 million in Q2 2024 [17] - Deposits totaled $1.032 billion as of June 30, 2025, an increase from $995.9 million in Q1 2025 and $840.4 million in Q2 2024 [19] - The ratio of loans to deposits was 84.4% as of June 30, 2025, compared to 84.7% in Q1 2025 and 92.0% in Q2 2024 [20] Asset Quality - The provision for credit losses on loans was $1.1 million for Q2 2025, an increase from $710 thousand in Q1 2025 and $283 thousand in Q2 2024 [9][26] - Non-performing assets totaled $18.4 million as of June 30, 2025, a decrease from $20.4 million in Q1 2025 but an increase from $7.6 million in Q2 2024 [29] - The ratio of total non-performing assets to total assets was 1.49% as of June 30, 2025, down from 1.71% in Q1 2025 but up from 0.75% in Q2 2024 [31] Strategic Initiatives - The company has restarted credit card applications, with transaction volume in Q3 2025 trending 35% above Q2 2025 levels [3] - SBA lending and commercial banking loan originations reached a record $160.5 million in Q2 2025, compared to $133.0 million in Q1 2025 [33] - The company is enhancing its credit card operations and developing new platforms targeted for completion in Q4 2025 [34][35]