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1 M a r c h 2 0 2 5 PIPER | SANDLER Western Bank Forum
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2 Disclaimers and Notice to Recipients This confidential presentation contains forward - looking statements within the meaning of Section 27A of the Securities Act of 19 33, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, some of which can be identified by the use of words such as “will,” “assume,” “estimate,” “project,” “believe,” “intend,” “anticipat e,” “plan,” “seek,” “expect” and words of similar meaning. These forward - looking statements include, but are not limited to: statements of our goals, intentions and expectations; statements regarding our business plans, initiatives, p ros pects, growth and operating strategies; statements regarding the quality of our loan and investment portfolios; pro forma and projected financial information, including regarding the potential impact of the propose d p rivate offering; and estimates of our risks and future costs and benefits. These forward - looking statements are based on current beliefs and expectations of our management, are based on reasonable assump tions within the bounds of our management’s existing knowledge of our business and operations, and are inherently subject to significant business, economic and competitive risks, uncertainties and contingenci es, many of which are beyond our control. In addition, these forward - looking statements are subject to assumptions with respect to future business strategies and decisions that are subject to change. The beliefs, expectation s a nd assumptions on which the forward - looking statements are based, although considered reasonable at the time such statements were made, may ultimately prove to be incorrect, which could cause actual results to b e m aterially different. Further, all pro forma or projected financial information contained in this confidential presentation is for illustrative and informational purposes only and may not reflect actual results. The prepar ati on of pro forma or projected financial information, and the estimates underlying such information, are inherently uncertain. The inclusion of pro forma or projected financial information should not be regarded as a represen tat ion that the projected results will be achieved. The following factors, among others, could cause actual results to differ materially from the anticipated results, projection s, or other expectations expressed in or implied by the forward - looking statements or our historical performance: general economic conditions, either nationally or in our market areas, that are worse than expected; our ability to access cost - effective funding; competition among depository and other financial institutions; inflation and changes in the interest rate environment that reduce our margins or reduce the fair value of financial instrume nts ; the rate of delinquencies and amounts of loans charged - off; fluctuations in real estate values and both residential and commercial real estate market conditions; adverse changes in the securities markets; changes in laws or gov ernment regulations or policies affecting financial institutions, including changes in regulatory fees and capital requirements; our ability to maintain and manage our available liquidity; our ability to enter new markets s ucc essfully and capitalize on growth opportunities; our ability to execute our strategic initiatives and capitalize on strategic opportunities; our ability to successfully introduce new products and services, enter new markets, an d c apitalize on growth opportunities; our ability to successfully integrate into our operations any assets, liabilities, customers, systems and management personnel we may acquire and our ability to realize related revenue sy ner gies and cost savings within expected time frames, and any goodwill charges related thereto; our ability to retain our existing customers; changes in consumer spending, borrowing and savings habits; changes in accounti ng policies and practices, as may be adopted by the bank regulatory agencies and the Financial Accounting Standards Board; changes in our organization, compensation and benefit plans; changes in the quality or compositio n o f our loan or investment portfolios; a breach in security of our information systems, including the occurrence of a cyber incident or a deficiency in cyber security; technological changes that may be more difficult or exp ens ive than expected; the failure to attract and retain skilled people; and the fiscal and monetary policies of the federal government and its agencies. Because of these and other uncertainties, our actual future results may be materially different from the results indicated or im plied by these forward - looking statements or our historical performance. We undertake no obligation to update or revise any forward - looking statement, or any projected or pro forma financial information, whether as a result of new information, future events or otherwise, except as may be required by law. Potential investors are cautioned not to place undue reliance on any forward - looking statement, including any pro forma or proje cted financial information. An investment in the Securities involves a high degree of risk and is suitable only for persons of substantial means who have no need for liquidity from this investment and who are able to bear the economic risks of the investment, including total loss. In addition to financial measures presented in material compliance with Generally Accepted Accounted Principles of the United St ates of America (“GAAP”), this presentation contains certain non - GAAP financial measures, including tangible common equity (“TCE”), tangible book value per share (“TVBPS”), and the return on average TCE (“ROATCE”). The presentation of non - GAAP financial information is not intended to be considered in isolation or as a substitute for any measure prepared in accordance with GAAP. GBFH’s management believes that these non - GAAP measures provid e a greater understanding of ongoing operations and GBFH’s balance sheet, and enhance comparability of results of operations with prior periods. This non - GAAP data should be considered in addition to result s prepared in accordance with GAAP. Limitations associated with non - GAAP financial measures include the risks that persons might disagree as to the appropriateness of items included in these measures and that differen t c ompanies might calculate these measures differently. This confidential presentation has been prepared solely for general informational purposes by GBank Financial Holdings Inc. ( "GB FH", and, together with its wholly owned bank subsidiary GBank, "we", "us", "our", or the "Company") and is being furnished solely for use by recipient. No representation or warranty as to the accuracy, completeness , o r fairness of such information is being made by GBFH, any representative of GBFH, or any other person, and neither GBFH, any representative of GBFH nor any other person shall have any liability for any information contai ned herein, or for any omissions from this presentation or any other written or oral communications transmitted to the recipient by GBFH or any other person in the course of the recipient’s evaluation of the Co mpa ny.
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3 24% (1) Total loans 25% Total deposits 77% YTD Pre - tax income 71% YTD Net income GBank Financial Holdings Inc. (1) The Company repurchased ~$44 million of SBA loans converting from floating to fixed rates during Q1 2024 Industry - Leading Growth (12/31/23 – 12/31/24) Financial Highlights (3 months ended 12/31/24) $1.12B Total assets 4.53% Net interest margin 1.93% Core ROAA 15.13% Core ROAE Commercial Banking Credit Cards Payments Gaming FinTech SBA Lending
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4 Key Differentiators Consistent Profitability GBFH has consistently demonstrated superior profitability with core return on average assets between 1.53% and 2.04% since 2018 Leading National SBA Business & Regional Commercial Banking Franchise GBFH is a top originator of SBA 7(a) credits and the leading originator of hotel SBA loans in the country which generates significant earnings power Gaming FinTech Presents a Significant Growth Opportunity for Core Deposits and Fee Income GBFH has partnered with BankCard Services LLC and positioned itself as a market leader in the Gaming FinTech space , creating a strong potential for future growth and providing an attractive source of low - cost deposits Experienced Management Team & Board of Directors GBFH is led by a seasoned and experienced management team with a deep understanding of the Las Vegas market, gaming industry, technology and the SBA market Credit Card The GBank Visa Signature ® card targets prime and super - prime consumers offering cash rewards on gaming transactions & has entered into 9 marketing & referral agreements. Quarterly transaction volume increased from $1.1 million to $51.7 million from Q1 2024 to Q4 2024 Customer - Centric Approach Focused on delivering exceptional customer service and tailored financial solutions, GBFH has built a loyal customer base
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5 GBank Financial Holdings Inc. Directors Todd A. Nigro Vice Chairman GBank Financial Holdings Inc. and GBank, President, Nigro Development LLC A. Lee Finley Director Founder, BrandFX Body Company Charles W. Griege, Jr. Director Managing Partner, Blue Lion Capital William J. Hornbuckle IV Director CEO and President, MGM Resorts International Kathryn S. Lever Director General Counsel / Chief Privacy Officer / Corp. Secretary, Great Canadian Gaming Corporation James K. Sims Director Founder, Silicon Valley Data Science Former Chairman, Airgain, Inc. Alan C. Sklar Director Principal, Sklar Williams PLLC T. Ryan Sullivan Director President/CEO, GBank Financial Holdings Inc. and GBank Michael C. Voinovich Director Executive Vice President, ECHO Health, Inc. Edward M. Nigro Executive Chairman GBank Financial Holdings Inc. and GBank
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6 GBank Directors Todd A. Nigro Vice Chairman GBank Financial Holdings Inc. and GBank, President, Nigro Development LLC A.G. Burnett Director Partner, McDonald Carano Dana A. Dwiggins Powell Director Managing Partner, Solomon, Dwiggins and Freer, Ltd. Timothy P. Herbst Director President, Terrible Herbst Inc. Shelli L. Lowe Director (Retired) Former Director of Client Services, Integra Realty Resources - Nevada Troy R. Nelson Director President, Mojave Electric Alan C. Sklar Director Principal, Sklar Williams PLLC T. Ryan Sullivan Director President / CEO, GBank Financial Holdings Inc. and GBank Edward M. Nigro Executive Chairman GBank Financial Holdings Inc. and GBank Michael C. Voinovich Director Executive Vice President, ECHO Health, Inc.
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7 Experienced and Invested Leadership Team EDWARD M. NIGRO Executive Chairman T. RYAN SULLIVAN President / CEO JEFFERY E. WHICKER EVP / Chief Financial Officer TARA A. CAMPBELL EVP / Chief Operating Officer NANCY M. DECOU EVP / Chief SBA Officer DAVID J. FERSDAHL EVP / Cards and Payments KEITH F. JARVIS EVP / Chief Credit Officer SCOT M. LEVINE EVP / Chief Risk Officer SHOUVIK K. RAY EVP / Chief Information and Technology Officer
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8 Company and Financial Snapshot (1) BCS is affiliated with the Company through common ownership by certain of our shareholders. Our relationship with BCS has be en reviewed during audits and third - party reviews. We know of no supervisory issues with our transactions with BCS Source: Company Financials • For the third consecutive year, OTCQX ranked GBFH in its 2025 OTCQX Best 50 based on prior year total return and average dail y d ollar volume growth. The list spans over 600 companies of all sizes, industries, and geographic regions, from well - capitalized U.S. community banks to large c ap global brands • Conducts business nationally through its SBA lending activities - leading national SBA presence – top 20 national SBA 7(a) lende r by volume • Establishes relationships with national gaming companies, skills games companies, and payments & wallet provider companies th rou gh its partnership with BankCard Services, LLC (“BCS”) (1) • Provides commercial banking services by serving the needs of small - and medium - sized businesses, high net worth individuals, pro fessionals, and investors K E Y F I N A N C I A L M E T R I C S ( A S O F D E C E M B E R 3 1 , 2 0 2 4 ) G E O G R A P H I C F O O T P R I N T (all figures reported in $ millions unless otherwise noted) • 2 commercial branch locations in Nevada • Loans in 40 states • Employees in 20 states, and growing • Gaming FinTech clients and consumers in all 50 states L A S V E G A S Balance sheet Total assets $1,122.4 Total deposits $935.1 Gross loans $849.3 Loan / deposits (%) 90.8% Capital Total tangible equity $140.7 TCE / TA (%) 12.5% Profitability - YTD 2024 ROAA (%) 1.85% ROATCE (%) 16.1% NIM (%) 4.79% Efficiency ratio (%) 58.1% Credit quality NPA / assets, excl. govt guaranteed 0.43% ACL / gross loans, excl. govt guaranteed 1.47% NCO / average loans (YTD annualized) 0.02%
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9 $238 $344 $471 $620 $679 $918 $963 $1,009 $1,048 $1,122 2018 2019 2020 2021 2022 2023 2024Q1 2024Q2 2024Q3 2024Q4 Timeline and Notable Events Note: Data shown on a consolidated basis where available; otherwise shown at the bank level (1) Annualized (2) Core net income for Q2’24 excludes after - tax non - recurring expenses of approximately $212 thousand related to the Company’s non - voting equity investment in BCS. All other quarterly metrics are calculated using GAAP net income. Source: S&P Capital IQ Pro Total Assets Over Time ($M) March 2020 $18.5M Private Placement of Common Stock December 2020 $6.5M Subordinated Notes Issuance December 2021 $20.0M Subordinated Notes Issuance December 2023 Announced proposed acquisition of Bankcard Services, LLC June 2024 $3.3M investment in BCS for 32.99% non - controlling October 2024 $20.0M Private Placement of Common Stock (2) (2) Core ROAA 1.96% 1.88% 1.74% 2.04% 1.77% 1.53% 1.58% 1.98% 1.96% 1.93% Core ROAE 14.70% 14.30% 12.00% 15.90% 14.20% 12.00% 14.60% 18.30% 17.29% 15.13% TBVPS $3.79 $4.45 $5.30 $6.19 $6.84 $7.72 $8.00 $8.49 $8.91 $9.87 EPS $0.52 $0.54 $0.56 $0.85 $0.84 $0.84 $1.12 (1) $1.26 (1) $1.33 (1) $1.47 (1)
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10 $35 $43 $65 $76 $87 $98 $140 2018 2019 2020 2021 2022 2023 2024 $200 $297 $389 $510 $555 $746 $935 2018 2019 2020 2021 2022 2023 2024 $169 $230 $305 $356 $405 $684 $849 2018 2019 2020 2021 2022 2023 2024 $238 $344 $471 $620 $679 $918 $1,122 2018 2019 2020 2021 2022 2023 2024 Compelling Balance Sheet Growth T O T A L A S S E T S ( $ M ) T O T A L L O A N S ( $ M ) T O T A L D E P O S I T S ( $ M ) T O T A L E Q U I T Y ( $ M ) Source: S&P Capital IQ Pro; Company Financials
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11 Financial Performance Trends Source: S&P Capital IQ Pro; Company Financials N E T I N T E R E S T M A R G I N – B A N K C O R E R O A A T A N G I B L E B O O K V A L U E P E R S H A R E C O R E R O A E 5.02% 5.21% 4.03% 3.40% 4.26% 5.69% 4.98% 4.94% 5.11% 4.64% 2018 2019 2020 2021 2022 2023 Q1'24 Q2'24 Q3'24 Q4'24 1.96% 1.88% 1.74% 2.04% 1.77% 1.53% 1.58% 1.98% 1.96% 1.93% 2018 2019 2020 2021 2022 2023 Q1'24 Q2'24 Q3'24 Q4'24 $3.79 $4.45 $5.30 $6.19 $6.84 $7.72 $8.00 $8.49 $8.91 $9.87 2018 2019 2020 2021 2022 2023 Q1'24 Q2'24 Q3'24 Q4'24 14.7% 14.3% 12.0% 15.9% 14.2% 12.0% 14.6% 18.3% 17.3% 15.1% 2018 2019 2020 2021 2022 2023 Q1'24 Q2'24 Q3'24 Q4'24
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12 1 2 2 4 8 14 17 2018 2019 2020 2021 2022 2023 2024 Gaming FinTech Overview Note: Select Program Clients represents BCS’s current client list and should not be interpreted as an endorsement of any spec ifi c product or service (1) MCC gaming code changes & Oregon State Lottery wind down A C T I V I T Y T R E N D S ( 0 0 0 S ) D E P O S I T S ( $ M ) P P A / G A M I N G C L I E N T S C R E D I T C A R D T R A N S A C T I O N S ( $ M ) K E Y D E P O S I T A N D R E V E N U E G E N E R A T O R S E L E C T P R O G R A M C L I E N T S • The gaming ecosystem includes: Commercial and Tribal Casinos; Sports and iGaming; e - Sports and Daily Fantasy; and State Lotteries • GBank / BCS contract includes prepaid cards, Pooled Player Accounts (PPAs) Powered by PIMS TM , Pooled Consumer Accounts (CPAs) Powered by CIMS TM , and gaming company acquiring and transactional accounts • Over $2.5 billion in payment loads processed since operational launch in 2016 • Gaming company acquiring and transactional accounts average approximately $30 - $50 million • Issuer of Discover, MasterCard, and Visa prepaid cards • GBank Visa Signature® Credit Card – soft - launched in Q2 2023 – approved for gaming merchant codes (1) $2.2 $2.4 $17.8 $43.7 $45.4 $27.8 $30.0 2018 2019 2020 2021 2022 2023 2024 $0.9 $1.1 $7.0 $13.9 $51.7 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24
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13 How GBank Manages Risk Recent disruption amongst banks providing services to FinTech partners creates significant opportunities for growth Product Design • Prepaid Access Accounts service customers that participate in gaming / entertainment venues as well as general consumers • All FinTech Consumer Programs are in Bank Owned & Controlled Program, Settlement & Reserve Accounts • No comingling of funds with full control by the bank • FDIC insurance to each consumer account • Where required, GBank is a party to the FinTech/BCS Agreement Third - Party Risk Managem e nt • Comprehensive vendor due diligence on each partner and continued monitoring thereafter • Weekly meetings with each FinTech client • Bank assumes primary role for AML, KYC and Fraud at the consumer account level with continued monitoring • Bank provides and manages full consumer protection Custody • Bank has full custody of consumer funds loaded instantly from the application to a consumer prepaid access account at GBank, which remains on account until the customer processes a transaction • Daily reconciliation and direct control of settlement reserves Bank Secrecy Act / Anti - Money Laundering • GBank’s BSA/AML process and procedures have been established and tested through several exam cycles and are designed to protect our customers, partners and company from the risks of fraud, money laundering, terrorist financing and other illicit activity GBank is not a BaaS Bank
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14 SBA Lending Overview Note: List ranked by lending volume SBA FYE year - to - date as of September 30, 2024 Source: U.S. Small Business Administration; SBALenders.com O V E R V I E W G U A R A N T E E D L O A N S ( $ 0 0 0 ’ S A N D % O F G R O S S L O A N S ) P R E T A X G A A P G A I N O N S A L E ( % ) • GBank offers SBA and USDA guaranteed loans nationwide • GBank is recognized as one of the most active SBA lenders in the country − #14 SBA 7(a) – FYE 09/30/24 − #16 SBA 7(a) – current − #1 for hotel SBA loans by SBALenders.com - current • Despite that volume, GBank is highly discerning with the hotel projects that it underwrites, demanding national flag operators and conservative requirements • GBank’s SBA capability has flourished under the leadership of Nancy DeCou, and will continue to expand as GBank recruits top lenders in attractive markets S B A 7 ( A ) O R I G I N A T I O N S S I N C E 2 0 1 8 $47,606 $91,078 $204,969 $259,467 $252,152 $267,002 $231,027 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 10.4% 17.4% 30.0% 33.4% 31.0% 31.5% 27.2% $1,800,375 Loans Originated $1,214,789 Loans Sold 67.47% Loans Originated Sold 5.56 4.36 5.58 9.48 5.73 3.88 3.82 2018 2019 2020 2021 2022 2023 2024
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15 Total hotel loans (1) $597M SBA Lending - Hotel Portfolio Summary (1) Consists of $594M of hotel CRE loans and $3M of additional accommodation loans D I V E R S I F I E D A C C O M M O D A T I O N P O R T F O L I O • GBank has been a top national SBA 7(a) hotel / motel lender for each of the past four years. GBank maintains strong national relationships and has established itself as the premier government guaranteed lender within the industry • With its strong credit analysis and deep industry knowledge, GBank has experienced very strong portfolio performance • The majority of GBank’s hotel portfolio is composed of limited - service and roadside hotels which performed well during the COVID - 19 pandemic compared t o their select - service, full - service, and resort competitors H O T E L P O R T F O L I O B Y R E G I O N Q4 2024 Weighted loan-to-value 67.97% Weighted average debt service coverage ratio 2.09 Weighted average cap rate 9.1 3% Weighted average breakeven occupancy 42.00% Southeast Midwest Southwest West Northeast
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16 Balance $905M Q4 2024 yield on loans: 8.10% Loan Portfolio Summary L O A N P O R T F O L I O • Top 10 relationships represent ~$123 million or ~13.7% of total loans as of December 31, 2024 • 24% of loan commitments in Nevada, 15% in North Carolina, 7% in Ohio; 6% in California; remainder distributed across 36 states • Low office exposure – less than $21 million – approximately 2.3% of total loans • Acquisition, development, and construction loans less than $3.6 million – 0.40% of total loans O V E R V I E W 27.2% government guaranteed T O P L E N D I N G R E L A T I O N S H I P S Hotel CRE ($594M) Other non-owner occupied CRE and multifamily ($86M) C&I ($64M) 1-4 family and consumer ($10M) Owner occupied CRE ($90M) Construction and land ($3M) Borrower Ranking Total Commitment Current Balance Product Types Borrower 1 24,672,208 $ 23,054,836 $ CRE NOO & Commercial Revolving Borrower 2 14,279,965 $ 13,244,554 $ CRE OO & Commercial Revolving Borrower 3 13,267,708 $ 11,149,006 $ CRE OO & NOO, Commercial & Consumer Borrower 4 11,811,212 $ 11,811,212 $ CRE OO, Commercial & Consumer Borrower 5 11,435,836 $ 11,435,836 $ CRE NOO Borrower 6 10,250,000 $ 9,333,906 $ CRE NOO Borrower 7 9,999,990 $ 2,799,990 $ Commercial Non-Revolving Borrower 8 9,839,083 $ 9,839,083 $ CRE NOO & SBA Borrower 9 9,035,101 $ 9,035,101 $ CRE NOO & CRE OO Borrower 10 8,712,300 $ 8,712,300 $ CRE NOO & SBA Total 10 Loans at 12/31/24 123,303,403 $ 110,415,824 $ Total Gross Loans at 12/31/24 905,039,690 $ 846,829,423 $ Top 10 as a % of Total 13.6% 13.0% 70% 10% 8% 1% 11% 0.35%
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17 $590,536 $678,700 $779,063 2022 2023 2024 $1,295 $1,081 $1,757 Servicing Portfolio SBA Loan Servicing • GBank services the guaranteed portion of SBA and USDA loans sold to others • $779.1 million in loans serviced for others – 2.0% servicing fee for USDA loans – 1.0% servicing fee for SBA loans – ~0.40% cost of servicing to GBank S B A L O A N S S E R V I C E D A N D I N C O M E ( $ 0 0 0 ) Loans serviced Loan servicing fee income
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18 Asset Quality Trends (1) NCOs related to C&I loans (2) 2023 NCOs reflect charge - offs relating to a nonperforming loan sold at sheriff’s sale, as well as charge - offs related to a l oan transferred to OREO and subsequently sold (3) 2024 NCOs were comprised of $240 thousand of charge - offs and $76 thousand of recoveries related to certain CRE and consumer loans O V E R V I E W N C O s / A V E R A G E L O A N S N P A S / T O T A L A S S E T S ( E X C L . G O V T G U A R A N T E E D ) A C L / G R O S S L O A N S , E X C L . G U A R A N T E E D • Prudent risk management philosophy with a disciplined approach to credit underwriting • Less than $1M in annual charge - offs every year since 2020 • ACL / total loans net of government guarantees was 1.47% as of December 31, 2024 • NPAs at December 31, 2024 consist of eleven nonaccrual loans totaling $14.1 million, of which $9.3 million is guaranteed (2) (1) 0.00 0.33 0.00 0.00 0.17 0.17 0.02 2018 2019 2020 2021 2022 2023 2024 1.72 1.89 1.79 2.16 1.84 1.48 1.47 2018 2019 2020 2021 2022 2023 2024 0.00 0.00 0.00 0.02 0.00 0.17 0.43 2018 2019 2020 2021 2022 2023 2024
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19 7.29% 25.63% 20.70% 6.76% 8.48% 31.15% Attractive Low - cost Core Deposit Base (1) Core deposits are defined as total deposits less time deposits greater than $250K and brokered certificates of deposit O V E R V I E W • Strong deposit base with “sticky” funding – core deposits of $804.9 million, which represents 86% of total deposits (1) • Stable cost of funding of 3.34% YTD − Small - and medium - sized business relationships are a source of non - interest - bearing deposits − Non - interest - bearing deposits comprise 26% of total deposits − $30.5 million in average Gaming FinTech deposits for the quarter ending 12/31/24 with a weighted average cost of 1.07% D E P O S I T C O M P O S I T I O N Q4 2024 cost of funding: 3.38% Interest bearing demand Non-interest bearing checking Money market and savings (business) Money market and savings (personal) Brokered CDs CDs
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20 4Q24 Highlights • Net income: $5.2M (up 49% YoY) • YTD net income: $18.6M (up 71% YoY) • Net interest margin of 4.53% for the 3 months ended 12/31/24 • Efficiency ratio: 55.4% • YoY B/S growth: 22.2% • NPAs / Assets, excl. Govt Guaranteed: 0.43% • SBA Loan Originations of $103.9M (11% decrease YoY) • Gaming deposits: $37.8M (up 74% YTD) • $51.7M in gaming transactions processed through GBank’s Visa Signature® Credit Card in Q4’24 2025 Outlook • Continued strong SBA origination growth, currently on pace for over $100 million per quarter − Currently selling 80% to 90% of originations into the secondary market to generate increased fee income and preserve balance sheet flexibility • Net interest margin supported through $273 million in time deposits maturing over the next twelve months, with a weighted average rate of 4.80% - expected to reprice downward providing a reduction in the cost of funds • Gaming/FinTech deposit growth expected to accelerate due to current disruption in the sector along with additional product releases and partnerships • Credit card volumes expected to increase resulting in gains to interchange income with relatively low corresponding growth in balances 4Q24 Operating Results & Outlook
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21 Experienced and invested board and management ( 4 9 % ownership) Commercial banking and national SBA lines High growth FinTech and payment opportunities Strong credit culture and pristine asset quality Robust capital and liquidity positions Investment Highlights Outstanding profitability and financial performance 21
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22 S E C T I O N A Appendix
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23 Financial Highlights (1) Excludes guaranteed portion of non - performing assets Source: S&P Capital IQ Pro; Company Financials 2018 2019 2020 2021 2022 2023 2024 GBank Financial Holdings Inc. Balance Sheet Capital Ratios Profitability Asset Quality Total Assets ($M) 238.4 344.3 470.6 620.3 678.7 918.4 1,122.4 Gross Loans ($M) 168.7 229.9 305.3 356.2 405.4 683.7 849.3 Loan Loss Reserve ($M) 2.3 3.1 5.1 6.2 6.9 7.1 9.1 Total Deposits ($M) 200.4 296.8 389.3 509.6 555.4 745.7 935.1 Total Equity ($M) 34.5 42.7 64.6 75.8 86.8 98.4 140.7 Total Common Equity ($M) 34.5 42.7 64.6 75.8 86.8 98.4 140.7 Loans/Deposits (%) 84.2 77.4 78.4 69.9 73 91.7 90.8 Total Equity/Total Assets (%) 14.5 12.4 13.7 12.2 12.8 10.7 12.5 Tangible Equity/Total Assets (%) 14.5 12.4 13.7 12.2 12.8 10.7 12.5 Common Equity/Total Assets (%) 14.5 12.4 13.7 12.2 12.8 10.7 12.5 TCE Ratio (%) 14.5 12.4 13.7 12.2 12.8 10.7 12.5 Bank-Level Leverage Ratio (%) 13.6 12.2 14 15.7 15.1 14.1 12.9 Net Income ($M) 4.7 5.3 7.0 11.0 10.9 10.9 18.6 ROAA (%) 2.10 1.83 1.71 2.04 1.68 1.51 1.85 ROAE (%) 14.7 13.8 13.0 15.9 13.4 11.8 16.1 ROATCE (%) 14.7 13.8 13.0 15.9 13.4 11.8 16.1 Bank-Level Net Interest Margin (%) 5.02 5.21 4.03 3.40 4.26 5.69 4.91 Efficiency Ratio (%) 59.5 57.4 58.4 58.1 63.2 68.1 58.1 NPAs/Assets (%) (1) 0 0 0 0.02 0 0.17 0.43 NPLs/Loans (%) (1) 0 0 0 0.09 0 0.23 0.57 Texas Ratio (%) 0 0 0 0.39 0 4.06 9.65 NCOs/Avg Loans (%) 0 0.33 0 0 0.17 0.17 0.02 LLR/Gross Loans (%) (1) 1.72 1.89 1.79 2.16 1.84 1.48 1.47
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24 Thank You!