GBank Financial NASDAQ: GBFH held its 2026 Annual Meeting of Stockholders in a virtual, listen-only format, with Executive Chairman and Chief Executive Officer Edward M. Nigro presiding as chairman of the meeting. The company noted that the meeting was being recorded and reiterated customary safe-harbor language regarding forward-looking statements.
Leadership and governance
Nigro opened the meeting by recognizing members of the board and management team, highlighting directors’ committee roles and recent executive appointments. He introduced directors including Todd Nigro (Vice Chairman), Kathryn Lever (Chair of the Audit Committee), James Sims (Chair of the Gaming FinTech Committee), and Michael Voinovich (Chairman of the Compensation Committee), among others.
He also recognized executive vice presidents and senior leaders at GBank, including Tara Campbell (Chief Executive Officer), Nancy DeCou (Chief SBA Officer), Jason Amos (new Chief Technology Officer), Scot Levine (Chief Risk Officer), David North (new Chief Credit Officer), and Hilary Sledge-Sarnor (new General Counsel and Corporate Secretary). Nigro said CFO Jeff Wicker was on medical leave and thanked Olivia Kelly, Financial Reporting Director, for stepping in to assist.
Business update: SBA lending, deposits, and Gaming FinTech
Before formal voting began, Nigro provided a review of the company’s recent performance and strategy, including remarks aimed at shareholders who joined after the company’s Nasdaq listing and inclusion in the Russell 2000. He said the company’s origins date to 2007, when it launched as “Bank of George,” and described early decisions such as limiting ownership concentration so that “no investor, including myself, would exceed 10%.”
Nigro characterized GBank as “a high-performing commercial and SBA bank” and said it is “one of the top SBA lenders in the U.S.” He stated the company ranked 11th in the prior year and ninth year-to-date nationwide for SBA originations. Nigro also said the company is building a payments and technology platform focused on the gaming industry, which he called the bank’s “number one industry” given its Nevada roots.
Operationally, Nigro said the company operates in 40 states, employs 188 people across 26 states, and manages $1.4 billion in on-balance-sheet assets, or $2.5 billion including its off-balance-sheet SBA loan portfolio.
In discussing 2025 results, Nigro reported:
- Net income of $20.9 million, up 12% from the prior year.
- Record originations of $576 million in government-guaranteed loans.
- Sales of $354 million of those loans, generating a record $12.3 million in gain on sale.
- Deposits of $1.1 billion, up 22% year over year.
For first-quarter 2026, Nigro said the company originated $208.1 million in new loans, compared with $126 million in the fourth quarter, and noted that “balance sheet loans now exceed $1 billion,” which he described as a historic milestone.
On the Gaming FinTech side, Nigro said the company made progress strengthening technical capabilities and scaling the business. He reported that credit card transaction volume—driven largely by gaming transactions—increased from $73 million in 2024 to $420 million in 2025. He also said the company expanded its platform through partnerships with BoltBetz and Bankroll and “moved into the slot payment solutions.”
Nigro said that in the first quarter of 2026 the company developed a new prepaid gaming card it expects to launch in the third quarter, and it expects to continue development of collateral-secured credit card products. He said the company believes the business will become a more important driver of deposits, fee income, and long-term growth, while emphasizing continued focus on “disciplined growth” and “strong risk management.”
Quorum and meeting procedures
The company set March 16, 2026 as the record date. The operator said the proxy statement was filed with the SEC on March 31, 2026, and meeting materials were mailed to stockholders around that time. Stockholders were permitted to submit written questions by email by 5:00 p.m. Pacific Time on April 29, 2026.
Sledge-Sarnor, acting as secretary of the meeting and inspector of elections, reported that holders of at least 10,367,165 shares—72.81% of outstanding shares entitled to vote—were present by remote communication or proxy, confirming that a quorum was achieved.
Voting results: directors, auditor, and incentive plan
Stockholders voted on three proposals described in the proxy statement:
- Proposal 1: Election of three Class 1 directors—A. Lee Finley, Charles W. Griege, Jr., and William J. Hornbuckle—for three-year terms ending at the 2029 annual meeting.
- Proposal 2: Ratification of RSM US LLP as the independent registered public accounting firm for the year ending Dec. 31, 2026.
- Proposal 3: Approval of the 2026 Incentive Compensation Plan.
Sledge-Sarnor reported preliminary results showing strong support for each item. For Proposal 1, she said that of 8,028,388 shares voted, not less than 7,711,319 shares, or approximately 96.05%, were voted in favor of the slate. For Proposal 2, she said that of 10,367,155 shares voted, not less than 10,313,681 shares, or approximately 99.48%, supported ratifying RSM. For Proposal 3, she said that of 7,959,541 shares voted, not less than 7,238,330 shares, or approximately 90.93%, supported adopting the new incentive plan.
The company said it expects to report final vote results in a Form 8-K filed with the SEC within four business days of the meeting. With no additional business presented under the bylaws, the meeting was adjourned.
About GBank Financial NASDAQ: GBFH
GBank Financial Holdings Inc operates as a bank holding company for GBank which provides banking services to commercial and consumer customers principally in Nevada. The company offers business and personal checking and savings accounts. GBank Financial Holdings Inc is based in Las Vegas, Nevada.
Read More
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider GBank Financial, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and GBank Financial wasn't on the list.
While GBank Financial currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Click the link to see MarketBeat's guide to investing in 5G and which 5G stocks show the most promise.
Get This Free Report
