GBank Financial Holdings CEO Edward Nigro Steps Down; Jeff Newgard Appointed Successor
GBank Financial Holdings Inc. announced a planned leadership succession. Edward M. Nigro has resigned as Executive Chairman and CEO of the company and its subsidiary GBank, effective immediately. He will remain a director of the parent company. Jeffrey K. Newgard, previously President and CEO of GBank, has been appointed President, CEO, and Director of GBank Financial Holdings Inc., and Chairman of GBank. The company also noted that Mr. Nigro's tenure saw significant asset growth, and that separation and employment agreements are in place for Mr. Nigro and Mr. Newgard, respectively.
Key Highlights
- Edward M. Nigro resigns as Executive Chairman and CEO of GBank Financial Holdings Inc. (GBFH) and Executive Chairman of GBank, effective immediately.
- Jeffrey K. Newgard appointed President, CEO, and Director of GBFH, and Chairman of GBank.
- Mr. Nigro will continue to serve as a director of GBFH.
- Mr. Newgard previously served as President and CEO of GBank since May 2026.
- GBank Financial Holdings Inc. assets grew from $22 million to approximately $1.4 billion under Mr. Nigro's leadership.
- GBank Financial Holdings Inc. to enter into an amended and restated employment agreement with Mr. Newgard.
- GBank Financial Holdings Inc. and GBank entered into a Separation Agreement with Mr. Nigro, including a payment of $425,000 annualized.
Price Impact
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