GBank Financial Holdings Inc. reported a net income of $4.47 million for the first quarter of 2025, reflecting a 21% increase from $3.70 million in the same period last year. The company's diluted earnings per share rose to $0.31, up from $0.29 in the prior year. Total interest income increased by 12% to $19.41 million, driven by a rise in average interest-earning assets, while interest expense also grew to $7.52 million, resulting in a net interest income of $11.89 million, a 10% increase from $10.80 million in the previous year.
In terms of operational metrics, GBank's total assets increased by 6% to $1.19 billion as of March 31, 2025, compared to $1.12 billion at the end of 2024. The growth was primarily attributed to a $27.4 million increase in net loans, which reached $843.4 million, and an increase in cash and cash equivalents, which rose by $22.8 million to $147 million. The company also reported a 7% increase in total deposits, amounting to $995.9 million, with significant growth in time deposits and savings accounts.
Strategically, GBank has focused on expanding its loan portfolio, particularly in commercial real estate, which constituted 79.7% of total loans as of March 31, 2025. The company has also engaged in repurchasing previously sold guaranteed SBA loans, a program initiated in response to rising interest rates affecting borrowers. This initiative has contributed to a total of $245.6 million in on-balance sheet guaranteed loans, representing 24.2% of the loan portfolio.
The company’s allowance for credit losses decreased slightly to $9.0 million, or 1.07% of total loans, from $9.1 million at the end of 2024. Non-performing assets increased to $20.4 million, representing 1.71% of total assets, compared to $14.2 million at the end of the previous year. GBank's management remains optimistic about future performance, citing a stable economic environment and ongoing strategic initiatives aimed at enhancing growth and profitability. The company continues to comply with regulatory capital requirements, maintaining a Tier 1 capital leverage ratio of 14.23% as of March 31, 2025.
About GBank Financial Holdings Inc.
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