GBFH 10-K & 10-Q changes, risk factors and insider trading
GBank Financial Holdings Inc. · Nasdaq · State Commercial Banks · CIK 1791145 · All filings on SEC.gov
At a glance
What changed in the latest 10-K
Comparison not available: Not available: fewer than two 10-K filings on EDGAR to compare (only one so far)..
What changed in the latest 10-Q
Risk Factors
In evaluating an investment in any of our securities, investors should consider carefully, among other things, information under the heading “Cautionary Note Regarding Forward-Looking Statements” in this Form 10-Q and the risk factors previously disclosed under the heading “Risk Factors” in our Annual Report on Form 10-K filed with the SEC on March 27, 2026. There have been no material changes in the risk factors disclosed by the Company in our Annual Report on Form 10-K.
No wording changes found in this section.
Full comparison: every changed paragraph (0)
Management's Discussion & Analysis (MD&A)
Largest changes
The investment security portfolio is comprised of available for sale securities recorded at fair value which increasedsee in full comparison$40.3$44.0 million from $71.0 million at December 31, 2025 to$111.3$115.0 million atMarchJune31,30, 2026 primarily due to the purchase of$44.0$51.9 million of available for sale residential mortgage-backed securities. Unrealized losses on the investment security portfolio increased from $647 thousand at December 31, 2025 to $2.6 million as of June 30, 2026. Management believes the unrealized losses related to the investment security portfolio as of June 30, 2026 relate primarily to a continuation of the elevated market interest rate environment and are not credit related.
“Income tax expense was $1.6 million for the three months ended June 30, 2026, an increase of $139 thousand, or 9.4% when compared to $1.5 million for the three months ended June 30, 2025. Income tax expense was $1.8 million for the six months ended June 30, 2026, a decrease of $946 thousand or 34.9% compared to $2.7 million for the six months ended June 30, 2025. The effective tax rate for the three months ended June 30, 2026 was 22.9% compared to 23.6% for the three months ended June 30, 2025. …”see in full comparison
“The Company continuously monitors its non-performing asset portfolio and believes the financial risk related to these assets is well contained. In making this assessment, it is important to consider the process undertaken when a collateralized SBA non-performing asset requires collection efforts. Historically, we have repurchased the sold portion of the government guaranteed loan to complete the foreclosure and resale of the property. …”see in full comparison
The provision for credit losses in each period is reflected as a reduction in earnings for that period and includes amounts related to funded loans and unfunded loan commitments. The provision is equal to the amount required to maintain the ACL at a level that is adequate to absorb estimated lifetime credit losses inherent in the loan portfolio based on remaining contractual maturity, adjusted for estimated prepayments as of each period end. The Company's CECL models incorporate historical experience, current conditions, and reasonable and supportable forecasts in measuring expected credit losses. For the three and six months endedsee in full comparisonMarchJune31,30, 2026, the Company recorded a provision for credit losses of$2.3$2.8million.millionTheand $5.1 million, respectively, compared to $1.1 million and $1.8 million for the three and six months ended June 30, 2025, respectively. Additional information regarding the provision for credit lossesforcan be found under thethreeheadingmonthsCreditendedQuality,MarchCredit31,Risk,2026andisAllowanceprimarilyforreflectiveCreditofLossesincreaseslater inspecificthisreserves of $1.4 million on individually evaluated commercial real estate - owner occupied, commercial real estate - non-owner occupied, and commercial and industrial loans. Additionally, the increase includes $860 thousand related to non-guaranteed loan growth primarily within GBank's commercial real estate - non-owner occupied loan portfolio.document.
“Loan related costs increased $623 thousand, or 188.8% from $330 thousand for the three months ended June 30, 2025 to $953 thousand for the three months ended June 30, 2026. Loan related costs increased $698 thousand, or 97.8% from $714 thousand for the six months ended June 30, 2025 to $1.4 million for the six months ended June 30, 2026. The increases in loan related costs in 2026 reflect additional expenses incurred as part of the workout process on nonperforming loans, including past due property taxes and legal fees.”see in full comparison
“Net interchange fees totaled $1.8 million for the three months ended June 30, 2026 compared to $1.5 million for the three months ended June 30, 2025. Net interchange fees totaled $4.0 million for the six months ended June 30, 2026, compared to $3.5 million for the same period in 2025. The increase in net interchange fees when comparing the three and six months ended June 30, 2026 to the same periods in 2025 was attributable to transaction volume growth within GBank’s Visa Signature® Card product.”see in full comparison
Full comparison: every changed paragraph (65)
The following table presents a summary of the Company's earnings and selected performance ratios for the three-monththree and six-month periods presented:
Financial highlights for the three months ended MarchJune 31,30, 2026 are presented below:
Net income of $1.3$5.5 million and diluted earnings per share of $0.09,$0.38, compared to $4.5$4.8 million and diluted earnings per share of $0.31$0.33 for the firstsecond quarter of 2025.
Loan growth of 7%9% since December 31, 2025, resulting in $1.0 billion in on-balance sheet loans as of MarchJune 31,30, 2026, a milestone for the Company.2026.
Principal balances of loans sold of $79.0$110.1 million compared to principal balances of loans sold of $68.7$82.1 million during the three months ended MarchJune 31,30, 2025.
Net interchange fees were $2.2$1.8 million and $2.0$1.5 million for the three months ended MarchJune 31,30, 2026 and 2025, respectively.
On-balance sheet guaranteed loans, including loans held for sale and loans held for investment, totaled $252.1$225.8 million as of MarchJune 31,30, 2026 compared to $229.7 million at December 31, 2025.
Non-performing assets of $44.1$58.2 million at MarchJune 31,30, 2026 representing 3.17%4.06% of total assets compared to $37.4 million of non-performing assets at December 31, 2025, representing 2.75% of total assets.
Average balances, interest income or expense, and the interest yield or rate for the Company’s interest-sensitive assets and liabilities are presented in the tables below for the three-month periods presented. Average balances are calculated on a daily basis. The Company had no tax equivalent adjustments for the three and six months ended MarchJune 31,30, 2026 and 2025.
(1)
For the three months ended MarchJune 31,30, 2026 and 2025, the average balance of loans, net includes average non-accrual loan balances of $36.7$47.0 million and $17.9$20.5 million, respectively.
Annualized on an actual/actual basis.
For the six months ended June 30, 2026 and 2025, the average balance of loans, net includes average non-accrual loan balances of $41.9 million and $19.2 million, respectively.
(2)
For the six months ended June 30, 2026, interest income was $44.3 million, an increase of $4.4 million compared to $40.0 million for the six months ended June 30, 2025. For the three months ended MarchJune 31,30, 2026, interest income was $21.6$22.7 million, an increase of $2.2 million compared to $19.4$20.6 million for the three months ended MarchJune 31,30, 2025. The increases in interest income when comparing the three-monththree and six-month periods ended MarchJune 31,30, 2026 to the same periodperiods in 2025 is primarily due to increases in average interest-earning assets, partially offset by yield reductions on adjustable-rate loans, securities, and other liquid assets as a result of the cumulative 75 basis point reduction in the target federal funds rate on the Company’s variable-rate loan portfolio over the preceding twelve months.
Interest expense was $9.4$19.3 million for the six months ended June 30, 2026, an increase of $3.6 million compared to $15.7 million for the six months ended June 30, 2025. Interest expense was $9.9 million for the three months ended MarchJune 31,30, 2026, an increase of $1.9$1.8 million when compared to $7.5$8.2 million for the three months ended MarchJune 31,30, 2025. The increase in interest expense when comparing the three and six months ended MarchJune 31,30, 2026 to the same periodperiods in 2025 was driven by increases in average interest-bearing liabilities to fund asset growth.
For the threesix months ended MarchJune 31,30, 2026, the Company's net interest margin decreased to 3.86%,3.82% compared to 4.47%4.39% for the threesame monthsperiod endedin March2025. 31,For the second quarter of 2026, the Company's net interest margin decreased to 3.78%, compared to 4.31% for the second quarter of 2025. The decrease in net interest margin for the three and six months ended MarchJune 31,30, 2026 when compared to the same periodperiods in 2025 is reflective of the lower market interest rate environment as explained in the above paragraphs.
The provision for credit losses in each period is reflected as a reduction in earnings for that period and includes amounts related to funded loans and unfunded loan commitments. The provision is equal to the amount required to maintain the ACL at a level that is adequate to absorb estimated lifetime credit losses inherent in the loan portfolio based on remaining contractual maturity, adjusted for estimated prepayments as of each period end. The Company's CECL models incorporate historical experience, current conditions, and reasonable and supportable forecasts in measuring expected credit losses. For the three and six months ended MarchJune 31,30, 2026, the Company recorded a provision for credit losses of $2.3$2.8 million.million Theand $5.1 million, respectively, compared to $1.1 million and $1.8 million for the three and six months ended June 30, 2025, respectively. Additional information regarding the provision for credit losses forcan be found under the threeheading monthsCredit endedQuality, MarchCredit 31,Risk, 2026and isAllowance primarilyfor reflectiveCredit ofLosses increaseslater in specificthis reserves of $1.4 million on individually evaluated commercial real estate - owner occupied, commercial real estate - non-owner occupied, and commercial and industrial loans. Additionally, the increase includes $860 thousand related to non-guaranteed loan growth primarily within GBank's commercial real estate - non-owner occupied loan portfolio.document.
For the three months ended MarchJune 31,30, 2026, noninterest income totaled $7.5$9.1 million compared to noninterest income $5.5$5.4 million for the three months ended MarchJune 31,30, 2025. For the six months ended June 30, 2026, noninterest income totaled $16.6 million compared to noninterest income of $10.8 million for the six months ended June 30, 2025.
Gain on sale of loans totaled $3.8$5.5 million for the firstsecond quarter of 2026 compared to $2.5$2.6 million for the firstsecond quarter of 2025. Gain on sale of loans totaled $9.3 million for the six months ended June 30, 2026 compared to $5.1 million for the six months ended June 30, 2025. The increaseincreases in gain on sale of loans for the three-monththree periodand six months ended MarchJune 31,30, 2026 waswere due to higher volumes of loans sold and more favorable secondary market pricing in 2026. Loans sold totaled $189.1 million during the threesix months ended MarchJune 31,30, 2026 when compared to $150.9 million during the same period ofin 2025.
Loan servicing income increased $295$498 thousand from $703$750 thousand for the three months ended MarchJune 31,30, 2025 to $998$1.2 thousandmillion for the three months ended MarchJune 31,30, 2026. Loan servicing income totaled $2.2 million for the six months ended June 30, 2026 compared to $1.5 million for the six months ended June 30, 2025. The increase in loan servicing income was the result of higher average balances of loans serviced by the Company during 2026.
Service charges and fees totaled $86 thousand and $144 thousand for the three and six months ended June 30, 2026, respectively, compared to $54 thousand and $111 thousand for the three months and six months ended June 30, 2025, respectively. The increases in service charges and fees in 2026 were largely driven by a higher volume of wire transfer fees in 2026.
Net interchange fees totaled $1.8 million for the three months ended June 30, 2026 compared to $1.5 million for the three months ended June 30, 2025. Net interchange fees totaled $4.0 million for the six months ended June 30, 2026, compared to $3.5 million for the same period in 2025. The increase in net interchange fees when comparing the three and six months ended June 30, 2026 to the same periods in 2025 was attributable to transaction volume growth within GBank’s Visa Signature® Card product.
Other income increased $253$251 thousand from $164$615 thousand for the threesix months ended MarchJune 31,30, 2025 to $417$866 thousand for the threesix months ended MarchJune 31,30, 2026 due to an increase in bank owned life insurance income of $304 thousand for the quarter ended March 31, 2026 resulting from a bank owned life insurance investmentpurchase of $15.0 million during the third quarter of 2025.
For the three months ended MarchJune 31,30, 2026, noninterest expense increased 45.6%15.4% to $15.9$12.0 million, compared to $10.9$10.4 million for the three months ended MarchJune 31,30, 2025. For the six months ended June 30, 2026, noninterest expense increased 30.9% to $27.9 million compared to $21.3 million for the six months ended June 30, 2025.
Salaries and employee benefits expense totaled $6.8 million for the three months ended March 31, 2026, an increase of $350 thousand or 5.5% when compared to $6.4 million for the first quarter of 2025. The increase is attributable to (i) higher employee salaries and benefits expenses resulting from an increase in full-time equivalent employees from 175 at March 31, 2025 to 189 at March 31, 2026 and (ii) an increase in stock based compensation expense of $105 thousand quarter over quarter.
During the first quarter of 2026, the Company identified and charged off $4.2 million of third-party fraud credit card losses related to embedded bot fraud resulting from a direct mail retail credit card campaign undertaken during the second half of 2025. Similar losses did not occur during the three months ended March 31, 2025.
Data processing expense increased $484$197 thousand, or 34.4%,14.8%, from $1.4$1.3 million for the three months ended MarchJune 31,30, 2025 to $1.9$1.5 million for the three months ended MarchJune 31,30, 2026. Data processing expense increased $681 thousand, or 24.9% from $2.7 million for the six months ended June 30, 2025 to $3.4 million for the six months ended June 30, 2026. The year over year increase was due to higher costs from transactional-based charges given the volume increases in loans and deposits over the last twelve months.
Legal and professional fees totaled $371$1.0 thousandmillion for the threesix months ended MarchJune 31,30, 2026, a decrease of $329$269 thousandthousand, or 47.0%21.2% when compared to $700$1.3 thousandmillion for the threesix months ended MarchJune 31,30, 2025. AuditsAudit and exams expense totaled $198$690 thousand for the threesix months ended MarchJune 31,30, 2026, a decrease of $299$204 thousandthousand, or 22.8% when compared to $497$894 thousand for the firstsecond quarter of 2025. The decrease in legal and professional fees and audits and exams expense when comparing the six months ended June 30, 2026 to the same period in 2025 reflects extraordinary legal, professional, and audit fees associated with the preparation and filing of the registration statement with the Securities and Exchange Commission on Forms S-1 and S-1/A during the first quarter of 2025.
Loan related costs increased $623 thousand, or 188.8% from $330 thousand for the three months ended June 30, 2025 to $953 thousand for the three months ended June 30, 2026. Loan related costs increased $698 thousand, or 97.8% from $714 thousand for the six months ended June 30, 2025 to $1.4 million for the six months ended June 30, 2026. The increases in loan related costs in 2026 reflect additional expenses incurred as part of the workout process on nonperforming loans, including past due property taxes and legal fees.
Advertising and marketing expense increased $466$492 thousand to $830$1.2 million during the six months ended June 30, 2026 compared to $735 thousand during the firstsix quartermonths ofended 2026,June compared to $364 thousand during the first quarter of30, 2025. The increase in advertising and marketing expense was largely attributable marketing and advertising expenses related to the Company's credit card product.
During the first quarter of 2026, the Company identified and charged off $4.2 million of third-party fraud credit card losses related to embedded bot fraud resulting from a direct mail retail credit card campaign undertaken during the second half of 2025. Similar losses did not occur during the three and six months ended June 30, 2025.
Income tax expense was $1.6 million for the three months ended June 30, 2026, an increase of $139 thousand, or 9.4% when compared to $1.5 million for the three months ended June 30, 2025. Income tax expense was $1.8 million for the six months ended June 30, 2026, a decrease of $946 thousand or 34.9% compared to $2.7 million for the six months ended June 30, 2025. The effective tax rate for the three months ended June 30, 2026 was 22.9% compared to 23.6% for the three months ended June 30, 2025. The effective tax rate for the six months ended June 30, 2026 was 20.5% compared to 22.6% for the six months ended June 30, 2025. Fluctuations in income tax expense and the effective tax rate are primarily driven by the timing and magnitude of certain stock-based compensation transactions that generate tax benefits for the Company, as well as changes in pre-tax earnings.
Income tax expense was $139 thousand for the three months ended March 31, 2026, a decrease of 88.6% or $1.1 million compared to $1.2 million for the three months ended March 31, 2025. The decrease in income tax expense during the three months ended March 31, 2026 was primarily due to lower pre-tax earnings, as well as the timing and volume of certain stock based compensation transactions resulting in tax benefits to the company.
The effective tax rate for the three months ended March 31, 2026 was 9.4% compared to 21.4% for the three months ended March 31, 2025. The fluctuations in the effective tax rate are largely driven by the timing and volume of certain stock-based compensation transactions resulting in tax benefits to the Company.
Comparison of Financial Condition – MarchJune 31,30, 2026 and December 31, 2025
Total assets were $1.4 billion for each of the periods ended MarchJune 31,30, 2026 and December 31, 2025.
Cash and cash equivalents decreased 45%29% from $197.9 million at December 31, 2025 to $108.1$141.3 million at MarchJune 31,30, 2026 as cash outflows to fund loan growth and investment purchases more than offset cash inflows from deposit growth during the first threesix months of 2026.
The investment security portfolio is comprised of available for sale securities recorded at fair value which increased $40.3$44.0 million from $71.0 million at December 31, 2025 to $111.3$115.0 million at MarchJune 31,30, 2026 primarily due to the purchase of $44.0$51.9 million of available for sale residential mortgage-backed securities. Unrealized losses on the investment security portfolio increased from $647 thousand at December 31, 2025 to $2.6 million as of June 30, 2026. Management believes the unrealized losses related to the investment security portfolio as of June 30, 2026 relate primarily to a continuation of the elevated market interest rate environment and are not credit related.
The following table presents the maturity composition and the weighted average yields of the investment portfolio as of MarchJune 31,30, 2026. Mortgage-backed security maturities are based on paydown trends in the most recent three-month period. Expected maturities may differ from contractual maturities if borrowers have the right to call or prepay obligations with or without call or prepayment penalties. Weighted-average yield is calculated based on the amortized cost of each security.
Total loans, net of deferred loan costs and unamortized discounts, increased 7%9% to $1.0 billion at MarchJune 31,30, 2026, compared to $959.3 million at December 31, 2025. Loan originations, including government guaranteed and non-guaranteed commercial loans, totaled $208.1$340.3 million during the first threesix months of 2026, compared to $133.0$293.5 million for the same period in 2025.
The Company continues to expand its national business lines for government guaranteed lending with a focus on the hospitality industry. For the year ended December 31, 2025, the Bank was a leading provider of SBA hotel financing and ranked among the nation’s top originators of SBA 7(a) loans, placing #11 nationwide. The balance of guaranteed loans at MarchJune 31,30, 2026 was $252.1$225.8 million, representing 17.3%16.7% of loans. Comparatively, at December 31, 2025, the Company had $229.7 million of guaranteed loan balances representing 19.2% of loans.
Net deferred loan costs totaled $10.4$9.5 million at MarchJune 31,30, 2026 and $10.0 million at December 31, 2025. Net deferred loan costs represent the costs incurred to originate loans, net of fees paid by the borrower, which are measured and recorded at the date the loan is originated. Unamortized discount totaled $11.2$12.5 million at MarchJune 31,30, 2026 and $10.9 million at December 31, 2025. The unamortized discount relates to the retained portion of government guaranteed loans and is based on the relative fair value of the retained loan as calculated by an independent consulting firm. Loan costs and discount are amortized over the life of the loan and are recorded as an adjustment to interest income on the loan.
Loans held for sale totaled $74.5$50.8 million at MarchJune 31,30, 2026 and consisted of commercial real estate – non-owner occupied, commercial real estate – owner occupied, and commercial and industrial loans. Loans held for sale totaled $46.0 million at December 31, 2025 and consisted of commercial real estate – non-owner occupied, commercial real estate – owner occupied, and commercial and industrial loans. The balance of unguaranteed portions to be retained are reported as held for investment.
The following table presents the allowance for credit losslosses as a percentage of total loans as of the dates indicated:
The allowance for credit losses increased from $9.9 million at December 31, 2025 to $10.8$12.4 million at MarchJune 31,30, 2026. The allowance as a percentage of loan balances increased from 1.03% to 1.05%.1.19%. The Company continues to closely monitor credit quality in light of the ongoing economic uncertainty caused by, among other factors, continued uncertainty regarding U.S. trade and tariff policy and the lingering inflationary pressures and the risk of the resurgence of elevated levels of inflation in the United States and our market areas. Accordingly, additional provisions for credit losses may be necessary in future periods.
The Company had $39.7$52.5 million of non-performing loans as of MarchJune 31,30, 2026, compared to $33.0 of non-performing loans as of December 31, 2025. The increase was driven by $22.9 million of commercial real estate and commercial and industrial loans transferred to nonaccrual status during the first six months of 2026. These loans are primarily collateralized by hotel/motel properties, business assets, and single-family residential properties. As of MarchJune 31,30, 2026, the balance of non-performing loans was comprised of certain commercial real estate – non-owner occupied, commercial real estate – owner occupied, and commercial and industrial loans, and consumer loans, of which $30.9$32.5 million is guaranteed by the SBA. Included in the balance of non-performing loans as of MarchJune 31,30, 2026 are $27.5$27.0 million of individually evaluated loans with specific credit loss reserves of $2.6$3.5 million assigned. As of December 31, 2025, the balance of non-performing loans was comprised of certain commercial real estate – non-owner occupied, commercial real estate – owner occupied, commercial and industrial loans, and consumer loans totaling $33.0 million, of which $24.8 million is guaranteed by the SBA. Included in the balance of non-performing assetsloans as of December 31, 2025 are $14.5 million of individually evaluated loans with specific credit loss reserves of $1.2 million assigned.
The Company continuously monitors its non-performing asset portfolio and believes the financial risk related to these assets is well contained. In making this assessment, it is important to consider the process undertaken when a collateralized SBA non-performing asset requires collection efforts. Historically, we have repurchased the sold portion of the government guaranteed loan to complete the foreclosure and resale of the property. This process immediately increases the non-performing asset balance on our balance sheet to include the government guaranteed portion, however, the guaranteed balance is excluded from the determination of the allowance for credit losses as it is considered zero risk. During the second quarter of 2026, we began transitioning to a process whereby the USDA or SBA will repurchase the sold portion of the non-performing loan.
The Company held $4.4$5.7 million of other real estate owned as of bothJune March 31,30, 2026 and $4.4 million as of December 31, 2025.
Premises and equipment increased $144$252 thousand from $1.1 million at December 31, 2025 to $1.2$1.3 million at MarchJune 31,30, 2026 largely due to purchases of $210$385 thousandthousand, net of depreciation of $66$133 thousandthousand, during the threesix months ended MarchJune 31,30, 2026.
Other assets totaled $27.6$29.0 million at MarchJune 31,30, 2026, a decrease of $10.2$8.7 million, or 27%23% when compared to $37.8 million at December 31, 2025, with this decrease largely attributable to the collection of $10.2 million of cash in-transit received during the first three monthsquarter of 2026 related to certain investment security sales executed during the fourth quarter of 2025.
The Company’s total liabilities increased $32.5$65.2 million, or 3%5% from December 31, 2025 to MarchJune 31,30, 2026. The increase in total liabilities was primarily attributable to an increase in total deposits of $28.3$63.0 million with the largest increases within time deposits.savings.
Total deposits increased 2%6% to $1.2 billion at MarchJune 31,30, 2026 compared to $1.1 billion at December 31, 2025. The year-to-date increases in non-interest bearing, interest bearing demand deposits, and time depositssavings were partially offset by decreases in savingsinterest-bearing demand and time deposits.
The following table presents the average balances of deposits by type and the related average interest rates for the three months ended MarchJune 31,30, 2026:
Federal Deposit Insurance Corporation (“FDIC”) deposit insurance covers $250 thousand per depositor, per FDIC-insured bank, for each account ownership category. As of MarchJune 31,30, 2026, uninsured deposits were approximately $422.8$485.0 million, or 35.7%39.8% of total deposits, compared to $417.4 million, or 36.5% of total deposits, as of December 31, 2025.
As of MarchJune 31,30, 2026 the maturities of time deposits having balances over $250 thousand were as follows:
The Company had no short-term borrowings as of MarchJune 31,30, 2026 compared to $371 thousand for December 31, 2025.
Subordinated debt totaled $30.3 million as of MarchJune 31,30, 2026 compared to $26.2 million as of December 31, 2025. See "Note 7 - Subordinated Debt, Other Borrowings, and Available Lines of Credit", within the Notes to Consolidated Financial Statements included in this Quarterly Report on Form 10-Q.
Stockholders' equity increased 1%4% to $167.6$172.8 million at MarchJune 31,30, 2026 compared to $165.8 million at December 31, 2025 with this increase driven primarily by the net income generated during the first threesix months of 2026.
As of MarchJune 31,30, 2026 and December 31, 2025, the Company and GBank were in compliance with the CBLR requirements.
GBFH insider buying and selling (Form 4)
Since 2026-04-11, insiders reported open-market purchases in 7 Form 4 filings (6 insiders, 5 trade dates, 111,963 shares, about $2.6M) and open-market sales in 0 filings. Net open-market shares: 111,963 (purchases minus sales); net value about $2.6M.Totals add up every open-market (code P and S) line in those filings, using the prices reported in the filings. Awards, option exercises, tax withholding and gifts are listed below but not counted.
| Trade date | Insider | Transaction | Shares | Price | Value |
|---|---|---|---|---|---|
| 2026-09-08 | Voinovich Michael C |
Open-market purchase | 2,500 | $20.00 | $50.0K |
| 2026-08-05 | Griege Charles William Jr. |
Open-market purchase | 25,000 | $21.03 | $525.8K |
| 2026-08-04 | Evol Capital Holdings Llc |
Open-market purchase | 5,000 | $21.07 | $105.3K |
| 2026-08-04 | 2000 Universal Holdings Llc |
Open-market purchase | 9,200 | $21.51 | $197.9K |
| 2026-08-04 | Herbst Timothy P |
Open-market purchase | 10,000 | $21.50 | $215.0K |
| 2026-08-04 | Newgard Jeffrey K |
Open-market purchase | 4,293 | $21.54 | $92.5K |
| 2026-08-04 | Newgard Jeffrey K |
Open-market purchase | 8,772 | $21.54 | $188.9K |
| 2026-08-03 | Newgard Jeffrey K |
Open-market purchase | 6,309 | $21.75 | $137.2K |
| 2026-08-03 | Newgard Jeffrey K |
Open-market purchase | 12,889 | $21.75 | $280.3K |
| 2026-07-09 | Newgard Jeffrey K |
Grant/award | 20,000 | — | — |
| 2026-07-07 | Evol Capital Holdings Llc |
Grant/award | 318 | $27.16 | $8.6K |
| 2026-07-07 | Evol Capital Holdings Llc |
Grant/award | 154 | $30.12 | $4.6K |
| 2026-07-07 | Blue Lion Opportunity Master Fund Lp |
Grant/award | 336 | $27.16 | $9.1K |
| 2026-07-07 | Blue Lion Opportunity Master Fund Lp |
Grant/award | 270 | $30.12 | $8.1K |
| 2026-07-07 | Sims James K |
Grant/award | 327 | $27.16 | $8.9K |
| 2026-07-07 | Sims James K |
Grant/award | 212 | $30.12 | $6.4K |
| 2026-07-07 | Lever Kathryn S |
Grant/award | 262 | $30.12 | $7.9K |
| 2026-07-07 | Lever Kathryn S |
Grant/award | 309 | $27.16 | $8.4K |
| 2026-07-07 | Hornbuckle William |
Grant/award | 262 | $30.12 | $7.9K |
| 2026-07-07 | Hornbuckle William |
Grant/award | 309 | $27.16 | $8.4K |
| 2026-07-07 | Herbst Timothy P |
Grant/award | 382 | $27.16 | $10.4K |
| 2026-07-07 | Herbst Timothy P |
Grant/award | 279 | $30.12 | $8.4K |
| 2026-06-05 | Griege Charles William Jr. |
Open-market purchase | 4,000 | $29.00 | $116.0K |
| 2026-06-05 | Griege Charles William Jr. |
Open-market purchase | 24,000 | $29.00 | $696.0K |
Well-known investors holding GBFH (13F)
| Investor | Quarter | Shares | Reported value | % of their 13F | Change vs prior quarter |
|---|---|---|---|---|---|
| Citadel Advisors (Ken Griffin) | 2026-06-30 | 90,439 | $2.7M | 0.0% | Added 48% |
| AQR Capital Management (Cliff Asness) | 2026-06-30 | 77,245 | $2.3M | 0.0% | New position |
| Millennium Management (Israel Englander) | 2026-06-30 | 38,878 | $1.2M | 0.0% | Reduced 15% |
| D. E. Shaw & Co. | 2026-06-30 | 20,361 | $617.1K | 0.0% | New position |