GBank Financial Holdings Inc. Announces Third Quarter 2024 Financial Results
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Oct 22 2024
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Source: PRnewswire
Record Financial Performance: GBank Financial Holdings Inc. reported a record net income of $5.0 million for Q3 2024, significantly up from $1.8 million in Q3 2023, with total net revenue reaching $16.1 million, marking a 49.4% increase year-over-year.
Growth and Expansion Initiatives: The company completed a $20 million capital raise to support its growth strategy, while also expanding its SBA Lending and Commercial Banking divisions, achieving loan originations of $156.4 million in the third quarter.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
