GBank Financial Holdings Inc(US:GBFH) Globenewswireยท2025-10-28 23:38Core Viewpoint - GBank Financial Holdings Inc. reported a net income of $4.3 million for Q3 2025, reflecting unusual expenses impacting earnings, while core revenues showed significant growth across various segments [1][5][18]. Financial Performance - Net income for Q3 2025 was $4.3 million, or $0.30 per diluted share, down from $4.8 million in Q2 2025 and $5.0 million in Q3 2024 [1][18]. - For the nine months ended September 30, 2025, net income was $13.5 million, or $0.93 per diluted share, compared to $13.4 million, or $1.02 per diluted share for the same period in 2024 [1]. - Adjusted diluted earnings per share for Q3 2025 was $0.44, excluding unusual expenses [3]. Revenue and Income Breakdown - Total net revenue for Q3 2025 was $20.2 million, a 13.5% increase from $17.8 million in Q2 2025 and a 24.8% increase from $16.2 million in Q3 2024 [15]. - Non-interest income rose to $7.2 million in Q3 2025, compared to $5.4 million in Q2 2025 and $3.9 million in Q3 2024 [14]. - Net interest income for Q3 2025 was $13.0 million, up 4.9% from Q2 2025 and 6.0% from Q3 2024 [8][10]. Loan and Asset Growth - SBA lending and commercial banking loan originations reached $242.1 million in Q3 2025, marking a record month in September with $92 million [37]. - Total loans, net of deferred fees and costs, increased to $940.6 million as of September 30, 2025, up from $871.6 million in Q2 2025 and $781.0 million in Q3 2024 [21]. - Total assets increased by 5.6% to $1.3 billion from Q2 2025 and by 24.2% from Q3 2024 [20]. Expense Management - Non-interest expenses for Q3 2025 were $12.3 million, up from $10.4 million in Q2 2025 and $9.1 million in Q3 2024, primarily due to unusual expenses [16]. - The efficiency ratio was 61.1% for Q3 2025, compared to 58.5% in Q2 2025 and 56.0% in Q3 2024 [16]. Credit Quality and Provisions - The provision for credit losses on loans was $2.2 million for Q3 2025, an increase from $1.1 million in Q2 2025 and $570 thousand in Q3 2024 [13][28]. - Non-performing assets totaled $37.5 million as of September 30, 2025, an increase from $18.4 million in Q2 2025 and $5.4 million in Q3 2024 [31]. Strategic Initiatives - The company is enhancing its gaming payments operations and has launched a new digital credit card application process to prevent fraud [38][39]. - The onboarding of BoltBetz with Distill Taverns and Terribles Gaming is expected to drive growth in the gaming sector [40].