Core Viewpoint - GBank Financial Holdings Inc. reported a net income of $4.5 million for Q1 2025, reflecting a decrease from the previous quarter but an increase year-over-year, alongside significant growth in noninterest income driven by Gaming FinTech operations [1][17]. Financial Results - Net income for Q1 2025 was $4.5 million, or $0.31 per diluted share, down from $5.2 million ($0.37 per share) in Q4 2024, but up from $3.7 million ($0.29 per share) in Q1 2024 [1][17]. - Net revenue totaled $17.4 million, a decrease of 1.1% from Q4 2024 but an increase of 31.4% compared to Q1 2024 [13][48]. - Net interest income was $11.9 million, reflecting a slight increase of 0.9% from Q4 2024 and a 10.1% increase from Q1 2024 [5][48]. - Noninterest income was $5.5 million, down 5.2% from Q4 2024 but up 127.2% year-over-year [12][48]. - Noninterest expenses increased to $10.9 million, up 12.2% from Q4 2024 and 30.2% from Q1 2024, largely due to legal and professional fees related to SEC filings [14][48]. Asset Quality - The provision for credit losses on loans was $710 thousand for Q1 2025, a decrease from $1.3 million in Q4 2024, with no provision recorded in Q1 2024 [11][27]. - Non-performing assets totaled $20.4 million as of March 31, 2025, an increase from $14.2 million in Q4 2024 and $6.1 million in Q1 2024 [30][32]. Balance Sheet - Total assets increased by 6.0% to $1.190 billion from $1.122 billion as of December 31, 2024, and by 23.5% from $963.4 million as of March 31, 2024 [26]. - Total loans, net of deferred fees and costs, were $843.4 million, up from $816.0 million in Q4 2024 and $733.6 million in Q1 2024 [19]. - Total deposits reached $995.9 million, an increase of 6.5% from Q4 2024 and 23.4% from Q1 2024 [21]. Other Highlights - GBank's Gaming FinTech operations saw a 51% increase in noninterest income year-over-year, with credit card charge transactions reaching $105.6 million in Q1 2025 [3][37]. - The company received SEC approval for its S-1 filing, allowing for the registration and resale of 1,081,081 shares of common stock [3][4].