GBank Financial Holdings Inc 8-K/A, filed Aug 21, 2026
GBank Financial Holdings Inc. (GBFH)
About this 8-K/A
GBank Financial Holdings Inc filed this 8-K/A on August 21, 2026, reporting on events of July 29, 2026.
Items reported
- Item 2.02: Financial results
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K/A
(Amendment No. 1)
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): |
(Exact name of Registrant as Specified in Its Charter)
(State or Other Jurisdiction |
(Commission File Number) |
(IRS Employer |
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(Address of Principal Executive Offices) |
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(Zip Code) |
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Registrant’s Telephone Number, Including Area Code: |
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(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Securities registered pursuant to Section 12(b) of the Act:
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Trading |
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
Explanatory Note
Item 2.02 Results of Operations and Financial Condition.
The Quarterly Report contains updated information with respect to the Company's past due and nonaccrual loan classifications. The Quarterly Report updates the information included in the Earnings Release as described below:
The updates described in this Amendment had no impact to the Company's unaudited income statement, balance sheet, earnings per share, or allowance for credit losses during the three and six month periods ended June 30, 2026. The updates described in this Amendment were identified and recorded prior to the Company's issuance of its Quarterly Report, and were incorporated into the Quarterly Report. Therefore, no amendments to the Quarterly Report are necessary.
In accordance with General Instruction B.2 of Form 8-K, the information in Item 2.02 of this Amendment, including Exhibit 99.1 furnished herewith, shall not be deemed "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section. The information in Item 2.02 of this Amendment, including Exhibit 99.1 furnished herewith, shall not be incorporated by reference into any filing or other document pursuant to the Exchange Act or the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such filing or document.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
104 Cover Page Interactive Data File (formatted as Inline XBRL).
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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GBANK FINANCIAL HOLDINGS INC. |
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Date: |
August 20, 2026 |
By: |
/s/ Edward M. Nigro |
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Edward M. Nigro |
Exhibit 99.1
GBank Financial Holdings Inc.
Additional Financial Information
(Unaudited)
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Three Months Ended |
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For the Six Months Ended |
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($’s in 000, except per share data) |
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Jun 30, 2026 |
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Mar 31, 2026 |
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Dec 31, 2025 |
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Sep 30, 2025 |
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Jun 30, 2025 |
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Jun 30, 2026 |
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Jun 30, 2025 |
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Key Performance Metrics |
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Return on Average Assets-Net Income (1) |
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1.53 |
% |
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0.39 |
% |
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2.20 |
% |
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1.37 |
% |
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1.59 |
% |
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0.98 |
% |
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1.60 |
% |
Return on Average Stockholders’ Equity(1) |
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12.64 |
% |
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3.12 |
% |
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18.03 |
% |
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10.89 |
% |
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12.62 |
% |
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7.94 |
% |
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12.61 |
% |
Efficiency Ratio |
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54.66 |
% |
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80.81 |
% |
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55.31 |
% |
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61.05 |
% |
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58.50 |
% |
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67.01 |
% |
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60.64 |
% |
Net Interest Margin(1) |
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3.78 |
% |
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3.86 |
% |
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4.21 |
% |
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4.35 |
% |
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4.31 |
% |
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3.82 |
% |
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4.39 |
% |
Net Revenue(1) |
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$ |
21,950 |
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$ |
19,645 |
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$ |
20,718 |
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$ |
20,175 |
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$ |
17,772 |
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$ |
41,595 |
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$ |
35,129 |
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Common Equity / Assets |
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12.07 |
% |
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12.03 |
% |
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12.19 |
% |
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12.16 |
% |
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12.30 |
% |
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12.07 |
% |
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12.30 |
% |
Tier 1 Leverage Ratio - Bank |
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13.15 |
% |
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13.39 |
% |
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13.42 |
% |
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13.72 |
% |
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13.82 |
% |
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13.15 |
% |
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13.82 |
% |
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Selected Loan Metrics |
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Guaranteed Portion of Loans Held for Sale |
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$ |
50,848 |
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$ |
74,507 |
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$ |
46,009 |
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$ |
66,791 |
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$ |
45,242 |
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$ |
50,848 |
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$ |
45,242 |
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Guaranteed Portion of Loans Held for Investment |
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174,971 |
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177,617 |
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183,739 |
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193,688 |
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192,324 |
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174,971 |
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192,324 |
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Total Guaranteed Loans |
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225,819 |
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252,124 |
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229,748 |
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260,479 |
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237,566 |
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225,819 |
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237,566 |
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Guaranteed Loans as a Percent of Total Loans(2) |
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16.7 |
% |
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17.3 |
% |
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19.2 |
% |
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20.6 |
% |
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22.1 |
% |
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16.7 |
% |
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22.1 |
% |
SBA Loan Originations |
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$ |
131,420 |
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$ |
189,851 |
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$ |
106,744 |
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$ |
207,683 |
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$ |
132,256 |
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$ |
321,271 |
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$ |
261,607 |
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SBA Loans Sold |
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$ |
110,075 |
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$ |
79,036 |
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$ |
92,258 |
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$ |
110,820 |
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$ |
82,140 |
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$ |
189,111 |
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$ |
150,860 |
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Gain on Loan Sales Margin(2) |
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5.04 |
% |
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4.79 |
% |
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3.93 |
% |
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3.24 |
% |
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3.16 |
% |
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4.94 |
% |
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3.40 |
% |
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Asset Quality |
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Total nonaccrual loans |
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$ |
51,648 |
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$ |
39,736 |
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$ |
32,141 |
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$ |
34,608 |
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$ |
18,227 |
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$ |
51,648 |
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$ |
18,227 |
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Loans past due 90 days and still accruing |
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868 |
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- |
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854 |
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184 |
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146 |
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868 |
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146 |
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Other real estate owned |
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5,663 |
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4,401 |
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4,401 |
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2,684 |
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- |
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5,663 |
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- |
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Total non-performing assets |
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$ |
58,179 |
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$ |
44,137 |
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$ |
37,396 |
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$ |
37,476 |
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$ |
18,373 |
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$ |
58,179 |
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$ |
18,373 |
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Non-performing assets: guaranteed portion |
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$ |
36,876 |
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$ |
34,340 |
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$ |
28,240 |
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$ |
29,236 |
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$ |
13,792 |
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$ |
36,876 |
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$ |
13,792 |
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Non-performing assets: non-guaranteed portion |
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$ |
21,303 |
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$ |
9,797 |
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$ |
9,156 |
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$ |
8,240 |
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$ |
4,581 |
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$ |
21,303 |
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$ |
4,581 |
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Non-performing assets to total assets |
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4.06 |
% |
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3.17 |
% |
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2.75 |
% |
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2.88 |
% |
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1.49 |
% |
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4.06 |
% |
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1.49 |
% |
Non-performing assets, excluding guaranteed, to total assets(2) |
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1.49 |
% |
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0.70 |
% |
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0.67 |
% |
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0.63 |
% |
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0.37 |
% |
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1.49 |
% |
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0.37 |
% |
Net charge-offs |
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$ |
1,167 |
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$ |
1,457 |
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$ |
557 |
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$ |
836 |
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$ |
870 |
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$ |
2,624 |
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$ |
1,698 |
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Loans past due 30-89 days and accruing |
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$ |
12,202 |
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$ |
6,255 |
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$ |
9,843 |
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$ |
3,595 |
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$ |
8,182 |
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$ |
12,202 |
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$ |
8,182 |
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Loans past due 30-89 days and accruing: guaranteed portion |
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$ |
2,491 |
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$ |
2,474 |
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$ |
4,574 |
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$ |
2,351 |
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$ |
5,650 |
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$ |
2,491 |
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$ |
5,650 |
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Loans past due 30-89 days and accruing: non-guaranteed portion |
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$ |
9,710 |
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$ |
3,781 |
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$ |
5,269 |
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$ |
1,244 |
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$ |
2,532 |
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$ |
9,710 |
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$ |
2,532 |
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Allowance for credit losses (ACL) |
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$ |
12,418 |
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$ |
10,755 |
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$ |
9,890 |
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$ |
10,577 |
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$ |
9,205 |
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$ |
12,418 |
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$ |
9,205 |
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Nonaccrual loans |
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$ |
51,648 |
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$ |
39,736 |
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$ |
32,141 |
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$ |
34,608 |
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$ |
18,227 |
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$ |
51,648 |
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$ |
18,227 |
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ACL to nonaccrual loans |
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24 |
% |
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27 |
% |
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31 |
% |
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31 |
% |
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51 |
% |
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24 |
% |
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51 |
% |
ACL to nonaccrual loans, excluding guaranteed(2) |
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65 |
% |
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|
122 |
% |
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136 |
% |
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|
141 |
% |
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208 |
% |
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65 |
% |
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|
208 |
% |
ACL to loans |
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1.19 |
% |
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1.05 |
% |
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1.03 |
% |
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1.12 |
% |
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1.06 |
% |
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1.19 |
% |
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1.06 |
% |
ACL to loans, excluding guaranteed(2) |
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1.42 |
% |
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1.27 |
% |
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1.28 |
% |
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1.42 |
% |
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|
1.36 |
% |
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|
1.42 |
% |
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1.36 |
% |
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Book Value |
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Stockholders’ Equity |
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$ |
172,810 |
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$ |
167,622 |
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$ |
165,755 |
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$ |
158,193 |
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$ |
151,749 |
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$ |
172,810 |
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$ |
151,749 |
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Common shares outstanding |
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|
14,470 |
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|
14,470 |
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|
14,385 |
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|
14,288 |
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|
14,274 |
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14,470 |
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|
14,274 |
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Book value per common share |
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$ |
11.94 |
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$ |
11.58 |
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$ |
11.52 |
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$ |
11.07 |
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$ |
10.63 |
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$ |
11.94 |
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$ |
10.63 |
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Full-Time Equivalent Employees |
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|
189 |
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|
189 |
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|
184 |
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|
187 |
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|
188 |
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|
189 |
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|
188 |
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(1) Ratios are annualized on an actual/actual basis |
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(2) See Reconciliation of Non-GAAP Financial Measures |
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GBank Financial Holdings Inc.
Reconciliation of Non-GAAP Financial Measures
(Unaudited)
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Three Months Ended |
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For the Six Months Ended |
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($'s in 000, except per share data) |
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Jun 30, 2026 |
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Mar 31, 2026 |
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Dec 31, 2025 |
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Sep 30, 2025 |
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Jun 30, 2025 |
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Jun 30, 2026 |
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Jun 30, 2025 |
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Pre-Provision Net Revenue(1) |
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Net Interest Income |
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$ |
12,801 |
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$ |
12,191 |
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$ |
13,455 |
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$ |
12,998 |
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$ |
12,388 |
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$ |
24,992 |
|
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$ |
24,282 |
|
Non-Interest Income |
|
|
9,149 |
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|
|
7,454 |
|
|
|
7,263 |
|
|
|
7,177 |
|
|
|
5,384 |
|
|
|
16,603 |
|
|
|
10,847 |
|
Net Revenue |
|
$ |
21,950 |
|
|
$ |
19,645 |
|
|
$ |
20,718 |
|
|
$ |
20,175 |
|
|
$ |
17,772 |
|
|
$ |
41,595 |
|
|
$ |
35,129 |
|
Non-Interest Expense |
|
|
11,998 |
|
|
|
15,876 |
|
|
|
11,460 |
|
|
|
12,317 |
|
|
|
10,396 |
|
|
|
27,874 |
|
|
|
21,303 |
|
Pre-Provision Net Revenue |
|
$ |
9,952 |
|
|
$ |
3,769 |
|
|
$ |
9,258 |
|
|
$ |
7,858 |
|
|
$ |
7,376 |
|
|
$ |
13,721 |
|
|
$ |
13,826 |
|
Less: |
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(Provision) Net Benefit for Credit Losses |
|
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(2,844 |
) |
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|
(2,293 |
) |
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|
182 |
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|
(2,219 |
) |
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|
(1,092 |
) |
|
|
(5,137 |
) |
|
|
(1,813 |
) |
Provision For Income Taxes |
|
|
(1,625 |
) |
|
|
(139 |
) |
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(2,026 |
) |
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(1,282 |
) |
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(1,486 |
) |
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|
(1,764 |
) |
|
|
(2,710 |
) |
Net Loss Attributable to Equity Investment |
|
|
(21 |
) |
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|
(22 |
) |
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(18 |
) |
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|
(49 |
) |
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|
(43 |
) |
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(43 |
) |
|
|
(78 |
) |
Net Income |
|
$ |
5,462 |
|
|
$ |
1,315 |
|
|
$ |
7,396 |
|
|
$ |
4,308 |
|
|
$ |
4,755 |
|
|
$ |
6,777 |
|
|
$ |
9,225 |
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Adjusted Diluted Earnings Per Share Excluding Unusual Items(2) |
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Net Income |
|
$ |
5,462 |
|
|
$ |
1,315 |
|
|
$ |
7,396 |
|
|
$ |
4,308 |
|
|
$ |
4,755 |
|
|
$ |
6,777 |
|
|
$ |
9,225 |
|
Unusual Items: |
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|
|
|||||||
Form S-1 and Uplift Costs |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
30 |
|
|
|
290 |
|
|
|
- |
|
|
|
1,049 |
|
Severance Expenses |
|
|
- |
|
|
|
- |
|
|
|
257 |
|
|
|
1,001 |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
Credit Card Fraud Losses |
|
|
52 |
|
|
|
4,213 |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
4,265 |
|
|
|
|
|
Costs Incurred Related to Discontinued Credit Card Marketing Campaign |
|
|
- |
|
|
|
- |
|
|
|
416 |
|
|
|
1,692 |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
Net Gain on Sales of Investment Securities |
|
|
- |
|
|
|
- |
|
|
|
(426 |
) |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
Tax Effect of Unusual Expenses (a) |
|
|
(12 |
) |
|
|
(963 |
) |
|
|
(55 |
) |
|
|
(605 |
) |
|
|
(64 |
) |
|
|
(975 |
) |
|
|
(233 |
) |
Net Income Excluding Unusual Items |
|
$ |
5,502 |
|
|
$ |
4,565 |
|
|
$ |
7,588 |
|
|
$ |
6,426 |
|
|
$ |
4,981 |
|
|
$ |
10,067 |
|
|
$ |
10,041 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
Weighted average diluted shares outstanding |
|
|
14,544 |
|
|
|
14,506 |
|
|
|
14,555 |
|
|
|
14,525 |
|
|
|
14,551 |
|
|
|
14,511 |
|
|
|
14,536 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
Diluted Earnings Per Share |
|
$ |
0.38 |
|
|
$ |
0.09 |
|
|
$ |
0.51 |
|
|
$ |
0.30 |
|
|
$ |
0.33 |
|
|
$ |
0.47 |
|
|
$ |
0.63 |
|
Adjusted Diluted Earnings Per Share Excluding Unusual Expenses |
|
$ |
0.38 |
|
|
$ |
0.31 |
|
|
$ |
0.52 |
|
|
$ |
0.44 |
|
|
$ |
0.34 |
|
|
$ |
0.69 |
|
|
$ |
0.69 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
Gain on Loan Sales Margin(1) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
Gain on Sale of Loans |
|
$ |
5,544 |
|
|
$ |
3,790 |
|
|
$ |
3,625 |
|
|
$ |
3,592 |
|
|
$ |
2,593 |
|
|
$ |
9,334 |
|
|
$ |
5,130 |
|
Loans Sold |
|
|
110,075 |
|
|
|
79,036 |
|
|
|
92,258 |
|
|
|
110,820 |
|
|
|
82,140 |
|
|
|
189,111 |
|
|
|
150,860 |
|
Gain on Loan Sales Margin |
|
|
5.04 |
% |
|
|
4.79 |
% |
|
|
3.93 |
% |
|
|
3.24 |
% |
|
|
3.16 |
% |
|
|
4.94 |
% |
|
|
3.40 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
Guaranteed Loans as a Percent of Loans(3) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
SBA and USDA Guaranteed Loans |
|
$ |
174,971 |
|
|
$ |
177,617 |
|
|
$ |
183,739 |
|
|
$ |
193,688 |
|
|
$ |
192,324 |
|
|
$ |
174,971 |
|
|
$ |
192,324 |
|
Loans, Net of Deferred Fees and Costs |
|
|
1,047,352 |
|
|
|
1,025,136 |
|
|
|
959,269 |
|
|
|
940,591 |
|
|
|
871,630 |
|
|
|
1,047,352 |
|
|
|
871,630 |
|
Guaranteed Loans as a % of Loans |
|
|
16.7 |
% |
|
|
17.3 |
% |
|
|
19.2 |
% |
|
|
20.6 |
% |
|
|
22.1 |
% |
|
|
16.7 |
% |
|
|
22.1 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
Non-performing assets, excluding guaranteed, to total assets(3) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
Non-performing assets |
|
$ |
58,179 |
|
|
$ |
44,137 |
|
|
$ |
37,396 |
|
|
$ |
37,476 |
|
|
$ |
18,373 |
|
|
$ |
58,179 |
|
|
$ |
18,373 |
|
Less: SBA and USDA guaranteed portions of non-performing assets |
|
|
36,876 |
|
|
|
34,340 |
|
|
|
28,240 |
|
|
|
29,236 |
|
|
|
13,792 |
|
|
|
36,876 |
|
|
|
13,792 |
|
Non-performing assets, excluding guaranteed portions |
|
|
21,303 |
|
|
|
9,797 |
|
|
|
9,156 |
|
|
|
8,240 |
|
|
|
4,581 |
|
|
|
21,303 |
|
|
|
4,581 |
|
Total assets |
|
|
1,431,702 |
|
|
|
1,393,812 |
|
|
|
1,359,491 |
|
|
|
1,301,378 |
|
|
|
1,232,424 |
|
|
|
1,431,702 |
|
|
|
1,232,424 |
|
Non-performing assets, excluding guaranteed, to total assets |
|
|
1.49 |
% |
|
|
0.70 |
% |
|
|
0.67 |
% |
|
|
0.63 |
% |
|
|
0.37 |
% |
|
|
1.49 |
% |
|
|
0.37 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
Allowance for credit losses (ACL) to nonaccrual loans, excluding guaranteed(3) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
Nonaccrual loans |
|
$ |
51,648 |
|
|
$ |
39,736 |
|
|
$ |
32,141 |
|
|
$ |
34,608 |
|
|
$ |
18,227 |
|
|
$ |
51,648 |
|
|
$ |
18,227 |
|
Less: SBA and USDA guaranteed portions of nonaccrual loans |
|
|
32,481 |
|
|
|
30,949 |
|
|
|
24,849 |
|
|
|
27,112 |
|
|
|
13,792 |
|
|
|
32,481 |
|
|
|
13,792 |
|
Nonaccrual loans, excluding guaranteed portions |
|
|
19,167 |
|
|
|
8,787 |
|
|
|
7,292 |
|
|
|
7,496 |
|
|
|
4,435 |
|
|
|
19,167 |
|
|
|
4,435 |
|
ACL to nonaccrual loans, excluding guaranteed |
|
|
65 |
% |
|
|
122 |
% |
|
|
136 |
% |
|
|
141 |
% |
|
|
208 |
% |
|
|
65 |
% |
|
|
208 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
ACL to loans, excluding guaranteed(3) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
Loans, net of deferred fees and costs |
|
$ |
1,047,352 |
|
|
$ |
1,025,136 |
|
|
$ |
959,269 |
|
|
$ |
940,591 |
|
|
$ |
871,630 |
|
|
$ |
1,047,352 |
|
|
$ |
871,630 |
|
Less: SBA and USDA guaranteed portions of loans |
|
|
174,971 |
|
|
|
177,617 |
|
|
|
183,739 |
|
|
|
193,688 |
|
|
|
192,324 |
|
|
|
174,971 |
|
|
|
192,324 |
|
Loans, excluding guaranteed |
|
|
872,381 |
|
|
|
847,519 |
|
|
|
775,530 |
|
|
|
746,903 |
|
|
|
679,306 |
|
|
|
872,381 |
|
|
|
679,306 |
|
ACL to loans, excluding guaranteed |
|
|
1.42 |
% |
|
|
1.27 |
% |
|
|
1.28 |
% |
|
|
1.42 |
% |
|
|
1.36 |
% |
|
|
1.42 |
% |
|
|
1.36 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
Non-GAAP Financial Measures Footnotes |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
(1) We utilize this non-GAAP measurement to present trends in income generation of the Company. |
|
|||||||||||||||||||||||||||
(2) We utilize this non-GAAP measurement to present the core earnings and core ratios of the Company by excluding certain significant one-time expenses. |
|
|||||||||||||||||||||||||||
(3) We utilize these non-GAAP measurements to provide useful metrics regarding the at-risk assets of the Company. |
|
|||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
(a) Estimated tax impact calculated using each respective period's effective tax rate. |
|
|||||||||||||||||||||||||||