GBank Q3 EPS $0.27 as Net Income Slips to $3.9M
GBFH is trading near its 52-week low of $16.505 (3.4% above the low).
Summary
GBank reported Q3 net income of $3.9 million and EPS of $0.27, with net interest income of $13.6 million and a 3.95% net interest margin. That profit is down from the $5.5 million earned in Q2, a step back for a bank already trading near its 52-week low. The Q2 10-Q flagged non-performing assets jumping to $58.2 million from $37.4 million at year-end on commercial real estate stress, so the softer Q3 bottom line lands against that backdrop. The quarter also follows a leadership reset: Jeff Newgard took over as President and CEO from founder Ed Nigro on October 22, after interim CFO Olivia Caley resigned effective October 13.
At the time of this announcement, GBFH was trading at $17.06 on NASDAQ in the Finance sector, with a market capitalization of approximately $247.7M. The 52-week trading range was $16.51 to $39.77. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Reuters.