Management ChangeMay 19, 2026, 04:12 PM
GBank Financial Holdings Names Jeff Newgard as GBank President & CEO
AI Summary
GBank Financial Holdings Inc. announced the appointment of Jeff Newgard as President and Chief Executive Officer of its wholly-owned subsidiary, GBank, effective June 8, 2026. Edward M. Nigro will transition to Executive Chairman of GBank. Mr. Newgard brings extensive experience, having previously served as Chairman, President, and CEO of Bank of Idaho. His compensation package includes a $500,000 annual base salary, a $100,000 sign-on bonus, eligibility for performance-based incentives, and a grant of 20,000 restricted stock shares. Additionally, A. Lee Finley resigned from the company's Board of Directors.
Key Highlights
- Jeff Newgard appointed President and CEO of GBank, effective June 8, 2026.
- Edward M. Nigro will continue as Executive Chairman of GBank.
- Mr. Newgard's annual base salary is $500,000, plus a $100,000 sign-on bonus.
- He is eligible for an annual incentive bonus up to 50% of his base salary, with a guaranteed target bonus for fiscal year 2026.
- Mr. Newgard will receive an award of 20,000 shares of restricted stock, subject to a three-year vesting.
- He will be reimbursed up to $50,000 for relocation costs and $115,000 for realtor fees and closing costs.
- A. Lee Finley resigned from the Board of Directors of GBank Financial Holdings Inc., effective May 19, 2026.
Price Impact
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