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Company Release - 10/21/2021 GBank Financial Holdings Inc. Announces Quarterly Operating Earnings LAS VEGAS , NV , October 21 , 2021 – GBank Financial Holdings Inc. ( “ GBank ” or the “ Company ” ) ( OTCQX : GBFH ) , the parent company for Bank of George ( the “ Bank ” ) , today reported year - to - date earnings increased 113 % to $ 7.01 million , or $ 0.54 per diluted share , compared to $ 3.29 million or $ 0.26 per diluted share for the year - to - date period ending September 30 , 2020. Following record gain on sale revenues and earnings recorded during the prior quarter , earnings for the third quarter decreased 20 % to $ 2.64 million or $ 0.21 per diluted share , compared to $ 3.32 million , or $ 0.26 per diluted share for the second quarter of 2021 . Third Quarter Financial Highlights ( for the year - over - year and quarterly periods ending September 30 , 2021 ) Year - over - year comparisons : • • • • • • Year - to - date net income increased 113 % to $ 7.01 million , compared to $ 3.29 million for the three quarters ending September 30 , 2020 . Year - to - date earnings per diluted share were $ 0.54 , compared to $ 0.26 for the three quarters ending September 30 , 2020 . Allowance for loan losses was $ 5.90 million , compared to $ 4.81 million at September 30 , 2020 . Year - to - date net revenues ( net interest income plus noninterest income ) increased 44 % to $ 25.52 million , compared to $ 17.74 million for the three quarters ending September 30 , 2020 . Noninterest income increased 98 % to $ 12.84 million , compared to $ 6.50 million for the three quarters ending September 30 , 2020 . Total assets increased 28 % to $ 552.33 million , compared to $ 431.91 million at September 30 , 2020 . Total deposits increased 32 % to $ 467.32 million , compared to $ 353.52 million at September 30 , 2020 . Book value was $ 5.88 per share , compared to $ 5.01 per share at September 30 , 2020 . Linked quarter comparisons : • Net income decreased 20 % to $ 2.64 million , compared to $ 3.32 million for Q2 2021 . Earnings per diluted share were $ 0.21 , compared to $ 0.26 for Q2 2021 . • • Return on average assets was 1.91 % compared to 2.45 % for Q2 2021 . • • • • • • • Return on average equity was 14.96 % , compared to 19.61 % for Q2 2021 . Allowance for loan losses was $ 5.91 million , compared to $ 5.86 million at June 30 , 2021 . Net interest margin was 3.33 % , compared to 3.20 % for Q2 2021 . Total net revenues ( net interest income plus noninterest income ) decreased 12 % to $ 8.98 million , compared to $ 10.22 million for Q2 2021 . Noninterest income decreased 24 % to $ 4.52 million , compared to $ 5.97 million for Q2 2021 . Total assets increased 1.35 % to $ 552.33 million , compared to $ 544.96 million at June 30 , 2021 . Total deposits increased 1.16 % to $ 467.32 million , compared to $ 461.95 million at June 30 , 2021 . • Book value was $ 5.88 per share , compared to $ 5.66 per share at June 30 , 2021 .