GBank Financial Holdings Inc. (GBFH) announced a planned leadership succession effective October 22, 2026. Jeffrey K. Newgard, President and CEO of the subsidiary GBank, has been appointed President and CEO of the holding company. He succeeds founder Edward M. Nigro, who has resigned as Executive Chairman and CEO but will continue to serve as a director on the company's board.
Key Details
- CEO Transition: Edward M. Nigro resigned as Executive Chairman and CEO of the Company and as Executive Chairman and a director of its subsidiary, GBank. Jeffrey K. Newgard assumes the roles of President, CEO, and director of the Company, and Chairman of the Bank's Board.
- Separation Agreement: In connection with his resignation, Mr. Nigro will receive a payment equal to $425,000 annualized, a pro-rated 2026 cash bonus, 18 months of COBRA premium payments, and reimbursement of up to $10,000 in legal fees.
- Effective Date: All resignations and appointments are effective immediately as of October 22, 2026.