Factors that could cause actual results to differ materially from management’s projections, forecasts, estimates and expectations include, but are not limited to: the impact on us or our customers of a decline in general economic conditions and any regulatory responses thereto; potential recession in the United States and our market areas; the impacts related to or resulting from bank failures and any continuation of uncertainty in the banking industry, including the associated impact to the Company and other financial institutions of any regulatory changes or other mitigation efforts taken by government agencies in response thereto; increased competition for deposits and related changes in deposit customer behavior; the impact of changes in market interest rates, whether due to continued elevated interest rates or potential reductions in interest rates and a resulting decline in net interest income; the persistence of the inflationary pressures, or the resurgence of elevated levels of inflation, in the United States and our market areas; the uncertain impacts of ongoing quantitative tightening and current and future monetary policies of the Board of Governors of the Federal Reserve System; effects of declines in housing prices in the United States and our market areas; increases in unemployment rates in the United States and our market areas; declines in commercial real estate values and prices; uncertainty regarding United States fiscal debt and budget matters; cyber incidents or other failures, disruptions or breaches of our operational or security systems or infrastructure, or those of our third-party vendors or other service providers, including as a result of cyber-attacks; severe weather, natural disasters, acts of war or terrorism, geopolitical instability or other external events; regulatory considerations; our ability to recognize the expected benefits and synergies of our completed acquisitions; the maintenance and development of well-established and valued client relationships and referral source relationships; acquisition or loss of key production personnel; changes in tax laws; the risks related to the development, implementation, use and management of emerging technologies, including artificial intelligence and machine learnings; potential increased regulatory requirements and costs related to the transition and physical impacts of climate change; and current or future litigation, regulatory examinations or other legal and/or regulatory actions. Net interest income of $11.9 million, an increase of 10.1%, or $1.1 million Gain on sale of loans of $2.5 million, a decrease of 36.5%, or $1.5 million Gain on sale of loans of $2.5 million, an increase of 21.8%, or $454 thousand Noninterest income of $5.5 million, a decrease of 5.2%, or $301 thousand Noninterest income of $5.5 million, an increase of 127.2%, or $3.1 million Net revenue(1) of $17.4 million, a decrease of 1.1%, or $196 thousand Net revenue(1) of $17.4 million, an increase of 31.4%, or $4.2 million Noninterest expense of $10.9 million, an increase of 12.2%, or $1.2 million Noninterest expense of $10.9 million, an increase of 30.2%, or $2.5 million GBank Financial Holdings Inc. Reconciliation of Non-GAAP Financial Measures (Unaudited) Three Months Ended ($'s in 000, except per share data) Mar 31, 2025 Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Net Revenue(3) Net Interest Income $ 11,894 $ 11,789 $ 12,259 $ 11,348 $ 10,802 Non-Interest Income 5,463 5,764 3,902 4,166 2,405 Net Revenue $ 17,357 $ 17,553 $ 16,161 $ 15,514 $ 13,207 Guaranteed Loans as a Percent of Loans(4) SBA and USDA Guaranteed Loans $ 204,239 $ 201,267 $ 203,027 $ 215,382 $ 218,619 Loans, Net of Deferred Fees and Costs 843,365 815,958 780,999 772,857 733,589 Guaranteed Loans as a % of Loans 24.2 % 24.7 % 26.0 % 27.9 % 29.8 % Non-performing assets, excluding guaranteed, to total assets(4) Non-performing assets $ 20,373 $ 14,168 $ 5,408 $ 7,612 $ 6,129 Less: SBA and USDA guaranteed portions of non-performing assets 14,687 9,321 3,838 5,396 4,572 Non-performing assets, excluding guaranteed portions 5,686 4,847 1,570 2,216 1,557 Total assets 1,190,012 1,122,364 1,048,002 1,009,354 963,450 Non-performing assets, excluding guaranteed, to total assets 0.48 % 0.43 % 0.15 % 0.22 % 0.16 % Allowance for credit losses (ACL) to nonaccrual loans, excluding guaranteed(4) Nonaccrual loans $ 19,220 $ 14,128 $ 5,381 $ 6,470 $ 6,096 Less: SBA and USDA guaranteed portions of nonaccrual loans 13,859 9,321 3,838 833 4,572 Nonaccrual loans, excluding guaranteed portions 5,361 4,807 1,543 5,637 1,524 ACL to nonaccrual loans, excluding guaranteed 168 % 190 % 514 % 130 % 465 % ACL to loans, excluding guaranteed(4) Loans, net of deferred fees and costs $ 843,365 $ 815,958 $ 780,999 $ 772,857 $ 733,589 Less: SBA and USDA guaranteed portions of loans 204,239 201,267 203,027 215,382 218,619 Loans, excluding guaranteed 639,126 614,691 577,972 557,475 514,970 ACL to loans, excluding guaranteed 1.41 % 1.48 % 1.37 % 1.32 % 1.38 %
Author: GBank Financial Holdings Inc.
Published at: 2025-04-29 22:01:00
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