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GBank Financial Holdings Inc. GBFH

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GBank's nonperforming assets went from $37.4M to $58.2M in six months, and the shares fell from $42.23 to $21.47.

Its chairman bought stock at $33.30, then at $29.00, then at $21.03, and four other insiders bought at about $21.50 in August.

GBFH · price with moving averages

Daily · 6MWeekly · 3Y
$10$19$28$37$46 Sep '23Apr '24Nov '24Jun '25Jan '26Aug '26 BID
EMAs82140

Source: market data.

The business

GBank lends out of Las Vegas, and 81.1% of its $1.05B loan book is commercial property that the borrower does not occupy. It is also a serious Small Business Administration lender, ranked eleventh nationally in 7(a) originations last year and a leading financier of hotels, with $225.8M of government-guaranteed loans on the books.

The third piece is Gaming Fintech, a card and payments business serving the casino industry, which produced $1.8M of net interchange fees in the quarter. That is small in dollars and it is the part of the company that is not a bank.

Inside the complete Back of Napkin

  1. 01The business
  2. 02The numbers
  3. 03Management
  4. 04How it fails or surprises you
  5. 05The shape of the payoff
  6. 06Closing thoughts
  7. 07Methodology

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