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GBank Financial Holdings (GBFH)
OTHER OTC:GBFH
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Earnings Data
Report Date
Jan 17, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.32Last Year’s EPS
$0.27Same Quarter Last Year
Based on 0 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 22, 2024
|% Change Since: 45.16%
|Next Earnings Date:Jan 17, 2025
Earnings Call Sentiment|Positive
The earnings call highlighted significant growth in net interest income, record earnings, and strong performance in the SBA division and credit card product. Asset and deposit growth were also notable, along with improvements in efficiency. However, there were some challenges, including delays in SBA loan sales and the Mastercard prepaid card program, as well as a decrease in noninterest income. Overall, the positive achievements outweigh the challenges.Company Guidance
During GBank Financial Holdings' Q3 2024 earnings call, the executives highlighted significant growth metrics and strategic initiatives that underpin their robust performance. Year-over-year, net interest income surged by 24.7% to $34.4 million, while net income soared by 81% to $13.4 million. The bank's SBA division originated $474.6 million in loans during the fiscal year, marking a 112% increase. Total assets grew by 44% to $1.048 billion, with deposits rising by 49% and total equity increasing by 23%. The net interest margin stood strong at 5%, and the efficiency ratio improved to 56% for the quarter. Additionally, the company raised $20 million through issuing 1.81 million shares. Looking forward, GBank's credit card product is expected to reach profitability by the end of 2024, and the bank aims to leverage its strategic partnerships and internal growth to further enhance its financial standing in 2025.Net Interest Income Growth
Net interest income grew by 24.7% year-over-year to $34.4 million from $27.6 million. Additionally, it increased 63.4% year-over-year to $10.4 million from $6.3 million.
Record Earnings and Loan Production
GBank reported record quarterly earnings of $5 million or $0.37 per diluted share. The bank produced a record $156.4 million in loans during the quarter, with total SBA and commercial originations for the year reaching $419.9 million.
SBA Loan Growth
The SBA division originated $474.6 million in loans for the fiscal year, a 112% increase from the previous year.
Asset and Deposit Growth
Total assets increased by 44% year-over-year to $1.048 billion, with deposits increasing by 49% year-over-year.
Credit Card Product Growth
Quarterly balances increased almost 30% to $1.2 million, with pre-provision net revenue increasing by 63% quarter-over-quarter. The credit card product is expected to provide a positive pre-provision contribution margin by the end of Q4 2024.
Efficiency Improvement
The efficiency ratio improved to 55.92% for Q3 2024 from 58.86% in the prior quarter and 76.65% in the same quarter of the prior year.
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GBFH Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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GBFH Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 22, 2024 | $24.80 | $26.75 | +7.86% |
| Jul 30, 2024 | $18.99 | $18.97 | -0.11% |
| Apr 30, 2024 | $16.70 | $16.25 | -2.69% |
| Jan 30, 2024 | $16.65 | $16.80 | +0.90% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does GBank Financial Holdings (GBFH) report earnings?
GBank Financial Holdings (GBFH) is schdueled to report earning on Jan 17, 2025, TBA Not Confirmed.
What is GBank Financial Holdings (GBFH) earnings time?
GBank Financial Holdings (GBFH) earnings time is at Jan 17, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is GBFH EPS forecast?
GBFH EPS forecast for the fiscal quarter 2024 (Q4) is $0.32.
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