Technology

GBank Financial Holdings Inc. Announces Second Quarter 2024 Financial Results

Published

2 years ago

July 30, 2024

LAS VEGAS, July 30, 2024 /PRNewswire/ — GBank Financial Holdings Inc. (the “Company”) (OTCQX: GBFH), the parent company of GBank (the “Bank”), today reported record net income for the quarter ended June 30, 2024, of $4.7 million, or $0.35 per diluted share. This represents an increase from $2.3 million, or $0.18 per diluted share, for the same period in 2023. For the six months ended June 30, 2024, net income was $8.4 million, or $0.63 per diluted share, compared to $5.6 million, or $0.43 per diluted share, for the comparable period of 2023.

Click here: Quarterly Detailed Financials and Key Metrics

Financial Highlights

Record net income of $4.7 million and diluted earnings per share of $0.35Record net revenue of $15.5 millionGain on sale of loans of $3.2 million, representing an increase of $1.1 million, or 52%, compared to the first quarter of 2024Net interest margin of 4.82%Gross loan growth of $35.6 million, or 5% sequentiallyTotal on-balance sheet guaranteed loans of $252.2 millionLoans sold of $77.9 million, an increase of $9.3 million, or 14%, compared to the first quarter of 2024, and an increase of $42.2 million, or 118%, compared to the second quarter of 2023Total non-performing assets were $7.6 million, representing 0.75% of total assetsNon-performing assets, excluding guaranteed portions, were $2.2 million, representing 0.22% of total assets

Edward M. Nigro, Executive Chairman, stated, “This quarter marks significant milestones for our Company – $1 billion in total assets – the most profitable quarter in history – and the completion of our 32.99% investment in BCS. These are all powerful foundations for our future growth.”

Non-voting Equity Investment in BankCard Services, LLC

On June 26, 2024, the Company announced the acquisition of a 32.99% non-voting equity interest in BankCard Services, LLC (“BCS“). This acquisition was completed by exchanging 231,508 shares of restricted, non-voting GBFH common stock for 143,371 shares of non-voting BCS common stock. The GBFH non-voting stock must be held by BCS for a minimum of one year and can only be converted into voting shares upon a disposition by BCS, in accordance with applicable Federal Reserve regulations.

Financial Results

Income Statement

Net interest income totaled $11.3 million in the second quarter of 2024, an increase of $546 thousand, or 5.1%, from $10.8 million in the first quarter of 2024, and an increase of $2.6 million, or 29.9%, compared to the second quarter of 2023. The increase in net interest income from the first quarter of 2024 was primarily due to higher average loan balances, partially offset by an increase in deposit balances and rates. The increase in net interest income from the second quarter of 2023 was driven by an increase in average loan balances and yields, along with a decrease in lower-yield investment securities. These increases were partially offset by higher balances and rates on deposits.

The Company recorded a provision for credit losses on loans of $283 thousand in the second quarter of 2024, compared to no provision recorded in the first quarter of 2024, and a decrease of $125 thousand from $408 thousand in the second quarter of 2023. The provision for credit losses on loans in the second quarter of 2024 primarily reflects growth in non-guaranteed loans.

The Company’s net interest margin in the second quarter of 2024 was 4.82%, a decrease from 4.85% in the first quarter of 2024, and a decrease from 5.40% in the second quarter 2023. The decrease in net interest margin from the first quarter of 2024 was primarily due to higher balances and rates on interest-bearing deposits. The decrease in net interest margin from the second quarter 2023 was also driven by higher balances and rates on interest-bearing deposits, which offset higher balances and rates on total earning assets.

Non-interest income was $4.2 million for the second quarter of 2024, compared to $2.4 million for the first quarter of 2024, and $2.3 million for the second quarter of 2023. The $1.8 million increase in non-interest income from the first quarter of 2024 was primarily due to a $1.1 million increase in income from gain on sale of loans and a $474 thousand increase in loan servicing income. The $1.9 million increase in non-interest income from the second quarter of 2023 was mainly driven by a $1.5 million increase in income from gain on sale of loans.

Net revenue totaled $15.5 million for the second quarter of 2024, representing an increase of $2.3 million or 17.5%, compared to $13.2 million in the first quarter of 2024. This also marks an increase of $4.5 million, or 40.9%, compared to $11.1 million in the second quarter of 2023.

Non-interest expense was $9.1 million for the second quarter of 2024, compared to $8.4 million for the first quarter of 2024 and $7.6 million for the second quarter of 2023. The Company’s efficiency ratio was 58.9% for the second quarter of 2024, compared to 63.4% in the first quarter of 2024 and 69.0% for the second quarter of 2023. The increase in non-interest expense from the first quarter of 2024 is primarily due to an increase of $462 thousand in employee compensation costs, largely driven by higher incentive commissions on increased loan origination volume during the quarter by the Bank’s SBA Lending Division. Additionally, there were non-recurring expenses of approximately $268 thousand related to the Company’s non-voting equity investment in BCS. The increase in non-interest expense from the second quarter of 2023 is also primarily attributable to a $1.1 million increase in employee compensation costs, again largely due to higher incentive commissions on increased loan origination volume, as well as the aforementioned non-recurring expenses.

Income tax expense was $1.4 million for the second quarter of 2024, compared to $1.1 million for the first quarter of 2024 and $725 thousand for the second quarter of 2023. The increase in income tax expense from both the first quarter of 2024 and the second quarter of 2023 is primarily due to increased earnings. The increase in income tax expense from the second quarter of 2023 was partially offset by a decrease in the effective tax rate, which declined to 23.2% from 24.0%.

Net income was $4.7 million for the second quarter of 2024, an increase of $975 thousand from $3.7 million for the first quarter of 2024, and an increase of $2.4 million from $2.3 million in the second quarter of 2023. Earnings per share totaled $0.35 for the second quarter of 2024, compared to $0.28 for the first quarter of 2024 and $0.18 for the second quarter of 2023.

The Company had 155 full-time equivalent employees as of June 30, 2024, compared to 150 full-time equivalent employees as of March 31, 2024, and 158 full-time equivalent employees as of June 30, 2023.

Balance Sheet

Total gross loans were $812.3 million as of June 30, 2024, compared to $776.7 million as of March 31, 2024, and $458.0 million as of June 30, 2023. The increase in gross loans of $35.6 million from the prior quarter was primarily driven by an increase of $43.1 million in commercial real estate loans, partially offset by decreases of $4.4 million in guaranteed loans held for sale and $3.0 million in guaranteed loans held for investment. The increase in gross loans of $354.2 million from June 30, 2023, was primarily driven by increases of $212.9 million in guaranteed loans held for investment and $123.9 million in commercial real estate loans. This increase was partially offset by a decrease of $8.3 million in guaranteed loans held for sale. Total guaranteed loans as a percentage of gross loans were 31.0% as of June 30, 2024, compared to 33.4% as of March 31, 2024, and 10.4% as of June 30, 2023.

The Company’s allowance for credit losses totaled $7.3 million as of June 30, 2024. The allowance for loan losses as a percentage of total gross loans was 0.90% as of June 30, 2024, compared to 0.91% as of March 31, 2024, and 1.56% as of June 30, 2023. The allowance for loan losses as a percentage of total net loans, excluding guaranteed portions, was 1.31% as of June 30, 2024, compared to 1.37% as of March 31, 2024, and 1.76% as of June 30, 2023.

Deposits totaled $840.4 million as of June 30, 2024, an increase of $33.4 million from $806.9 million as of March 31, 2024, and an increase of $287.9 million from $552.5 million as of June 30, 2023. By deposit type, the increase from the prior quarter was driven by an increase of $22.6 million in savings and money market accounts and a $5.4 million increase in certificates of deposit. From June 30, 2023, certificates of deposit increased by $225.0 million, and savings and money market accounts increased by $74.0 million. Non-interest bearing deposits totaled $220.4 million as of June 30, 2024, an increase of $4.1 million from $216.3 million as of March 31, 2024, and an increase of $2.1 million from $218.3 million as of June 30, 2023.

The Company’s ratio of gross loans to deposits was 96.7% as of June 30, 2024, compared to 96.3% as of March 31, 2024, and 82.9% as of June 30, 2023.

Short-term borrowings were $12.0 million as of June 30, 2024, compared to $10.0 million as of March 31, 2024, and no short-term borrowings as of June 30, 2023. The Company had approximately $454 million in available borrowing capacity from the Federal Reserve Bank, the Federal Home Loan Bank, and through its various Fed Funds lines as of June 30, 2024.

Subordinated notes totaled $26.1 million as of June 30, 2024, compared to $26.0 million as of March 31, 2024, and June 30, 2023.

Stockholders’ equity was $110.9 million as of June 30, 2024, compared to $102.6 million as of March 31, 2024, and $92.6 million as of June 30, 2023. The increase in stockholders’ equity from March 31, 2024, and June 30, 2023, is attributable to net income and an increase in common stock and paid-in capital resulting from the issuance of non-voting common shares related to the Company’s investment in BCS during the second quarter 2024.

The Company’s tangible common equity to tangible assets ratio was 11.0% as of June 30, 2024, compared to 10.6% as of March 31, 2024, and 13.5% as of June 30, 2023. The Bank’s Tier 1 leverage ratio was 12.9% as of June 30, 2024, compared to 13.0% as of March 31, 2024, and 15.9%as of June 30, 2023. The Company’s tangible book value per share was $8.49 as of June 30, 2024, an increase of 6.2% from $8.00 as of March 31, 2024, and an increase of 16.5% from $7.29 as of June 30, 2023. The increase in tangible book value per share from March 31, 2024, and June 30, 2023, is attributable to net income as well as the increase in common stock and paid-in capital resulting from the issuance of non-voting common shares related to the Company’s investment in BCS during the second quarter 2024.

Total assets increased 4.8% to $1.0 billion as of June 30, 2024, from $963.5 million as of March 31, 2024, and increased 47.4% from $684.9 million as of June 30, 2023. The increase in total assets from March 31, 2024, was primarily driven by an increase in gross loans and interest-bearing deposit cash equivalents, partially offset by a decrease in investment securities. The increase in total assets from June 30, 2023, was primarily driven by an increase in gross loans, partially offset by a decrease in investment securities.

Asset Quality

The provision for credit losses on loans totaled $283 thousand for the second quarter of 2024, compared to no provision for the first quarter of 2024 and $408 thousand for the second quarter of 2023. Net loan charge-offs in the second quarter of 2024 totaled $29 thousand, or 0.01% of average net loans (annualized), compared to no net loan charge-offs in the first quarter of 2024 and $100 thousand, or 0.09% of average net loans (annualized), in the second quarter of 2023.

Nonaccrual loans increased by $374 thousand to $6.5 million during the second quarter and decreased by $648 thousand from June 30, 2023. Loans past due 90 days and still accruing interest increased to $1.1 million compared to $33 thousand at March 31, 2024, and no loans past due 90 days and still accruing interest as of June 30, 2023.

There was no other real estate owned as of June 30, 2024, March 31, 2024, and June 30, 2023.

Total non-performing assets totaled $7.6 million as of June 30, 2024, an increase of $1.5 million from $6.1 million as of March 31, 2024, and an increase of $494 thousand from $7.1 million as of June 30, 2023. Non-performing assets, excluding guaranteed portions, totaled $2.2 million as of June 30, 2024, an increase of $659 thousand from $1.6 million as of March 31, 2024, and an increase of $362 thousand from $1.9 million as of June 30, 2023.

Loans past due 30-89 days and still accruing interest totaled $1.1 million as of June 30, 2024, a decrease from $3.4 million as of March 31, 2024, and a decrease from $3.1 million as of June 30, 2023.

The ratio of total non-performing assets to total assets was 0.75% as of June 30, 2024, compared to 0.64% as of March 31, 2024, and 1.04% as of June 30, 2023. The ratio of non-performing assets, excluding guaranteed portions, to total assets was 0.22% as of June 30, 2024, compared to 0.16% as of March 31, 2024, and 0.27% as of June 30, 2023.

Segment Highlights

SBA Lending and Commercial Banking

Loan originations by the Bank’s SBA and Commercial Banking Divisions totaled $126.9 million, compared to $136.6 million in the first quarter of 2024 and $80.2 million in the second quarter 2023. Loan sale volume increased by 14% to $77.9 million, compared to $68.6 million in the first quarter of 2024, and increased by 118% from $35.7 million in the second quarter of 2023. Gain on sale of loans increased by 52% to $3.2 million, compared to $2.1 million in the first quarter of 2024, and increased 96% from $1.6 million in the second quarter of 2023. The average pretax gain on sale of loans margin was 4.36%, compared to 3.04% in the first quarter of 2024, and 4.53% in the second quarter of 2023.

Gaming FinTech

GBank’s partner, BankCard Services, LLC (“BCS”), has been actively developing its Pooled Player and Pooled Consumer Accounts “Powered by PIMS and CIMS”™, recently securing its third patent for this intellectual property. BCS is carving out a niche by referring startup digital wallet companies in both gaming and consumer programs/applications. BCS and GBank now have 14 active prepaid access and PPA/PCA clients. Currently, BCS and GBank are conducting due diligence for 4 new prepaid access and PPA/PCA clients, with anticipated onboarding in future quarters. Gaming FinTech deposits averaged $32.4 million during the quarter, compared to $34.1 million in the first quarter of 2024.

Credit Card

The Bank launched its GBank Visa Signature® Card in the second quarter of 2023. The GBank Visa Signature® Card targets prime and super-prime consumers, offering 1% cash rewards on gaming transactions and 2% cash rewards on all other purchases. Since the product launch in 2023, the Bank has entered into several marketing referral agreements, with four such agreements in place as of June 30, 2024.

Credit card balances were $919 thousand as of June 30, 2024, compared to $439 thousand as of March 31, 2024. Total open credit card lines were $3.7 million as of June 30, 2024, compared to $2.1 million as of March 31, 2024. Through July 11, 2024, the Bank has processed over $10 million in gaming transactions through its credit card product.

Earnings Call

The Company will host its Q2 2024 quarterly earnings call on Wednesday, July 31, 2024, at 2:00 p.m. PST. Interested parties can participate remotely via Internet connectivity. There will be no physical location for attendance.

Interested parties may join online, via the ZOOM app on their smartphones, or by telephone:

ZOOM Video Conference ID 826 3030 7240Passcode: 549549

Joining by ZOOM Video Conference:

Log in on your computer at
https://us02web.zoom.us/j/82630307240?pwd=TU4yZXJqMEc2VGZoUm5rRTl0OVFxdz09
or use the ZOOM app on your smartphone.

Joining by Telephone

Dial (408) 638-0968. The conference ID is 826 3030 7240. Passcode: 549549.

Click here to learn more about GBank Financial Holdings Inc.

Cautionary Notice Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, without limitation, statements regarding certain of the Company’s goals and expectations with respect to future events that are subject to various risks and uncertainties, and statements preceded by, followed by, or that include the words “may,” “will,” “could,” “should,” “expect,” “plan,” “project,” “intend,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “pursuant,” “target,” “continue,” and similar expressions. These statements are based upon the current belief and expectations of the Company’s management team and are subject to significant risks and uncertainties that are subject to change based on various factors (many of which are beyond the Company’s control). Factors that could cause actual results to differ materially from management’s projections, forecasts, estimates and expectations include, but are not limited to: the impact on us or our customers of a decline in general economic conditions and any regulatory responses thereto; potential recession in the United States and our market areas; the impacts related to or resulting from bank failures and any continuation of uncertainty in the banking industry, including the associated impact to the Company and other financial institutions of any regulatory changes or other mitigation efforts taken by government agencies in response thereto; increased competition for deposits and related changes in deposit customer behavior; the impact of changes in market interest rates, whether due to continued elevated interest rates or potential reductions in interest rates and a resulting decline in net interest income; the persistence of the inflationary pressures, or the resurgence of elevated levels of inflation, in the United States and our market areas; the uncertain impacts of ongoing quantitative tightening and current and future monetary policies of the Board of Governors of the Federal Reserve System; effects of declines in housing prices in the United States and our market areas; increases in unemployment rates in the United States and our market areas; declines in commercial real estate values and prices; uncertainty regarding United States fiscal debt and budget matters; cyber incidents or other failures, disruptions or breaches of our operational or security systems or infrastructure, or those of our third-party vendors or other service providers, including as a result of cyber-attacks; severe weather, natural disasters, acts of war or terrorism, geopolitical instability or other external events; regulatory considerations; our ability to recognize the expected benefits and synergies of our completed acquisitions; the maintenance and development of well-established and valued client relationships and referral source relationships; acquisition or loss of key production personnel; changes in tax laws; the risks related to the development, implementation, use and management of emerging technologies, including artificial intelligence and machine learnings; potential increased regulatory requirements and costs related to the transition and physical impacts of climate change; and current or future litigation, regulatory examinations or other legal and/or regulatory actions. These forward-looking statements are based on current information and/or management’s good faith belief as to future events. Although the Company believes that the assumptions underlying the forward-looking statements are reasonable, any of the assumptions could prove to be inaccurate. Therefore, the Company can give no assurance that the results contemplated in the forward-looking statements will be realized. Due to these and other possible uncertainties and risks, readers are cautioned not to place undue reliance on the forward-looking statements contained in this press release. The inclusion of this forward-looking information should not be construed as a representation by the Company or any person that the future events, plans, or expectations contemplated by the Company will be achieved. All subsequent written and oral forward-looking statements attributable to the Company or any person acting on its behalf are expressly qualified in their entirety by the cautionary statements above. The forward-looking statements are made as of the date of this press release. The Company does not undertake any obligation to update any forward-looking statement to reflect circumstances or events that occur after the date the forward-looking statements are made, except as required by law. All forward-looking statements, express or implied, included in the press release are qualified in their entirety by this cautionary statement.

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SOURCE GBank Financial Holdings Inc.

Technology

Vention Launches Vention H Series for Inclusive Design, and Next-Generation Dash Series, Setting Standards for Power Bank Innovations

Published

7 minutes ago

September 3, 2026

BERLIN, Sept. 3, 2026 /PRNewswire/ — Vention, a design-led consumer electronics brand, today announced its all-new Vention H Series alongside the U.S. and E.U. debut of its flagship Dash Series. Introducing a more approachable take on portable power through a refined, fashion-forward design language, Vention at IFA 2026 is debuting a thoughtfully curated color palette, alongside a user-friendly charging platform that removes the guesswork from battery management.

While portable batteries have long competed on capacity, output, and other technical specifications, Vention believes the future of the category lies in the experience itself. The Vention H Series and Dash Series reimagine portable power through a more refined design language and an intuitive interface that makes battery management effortless. By combining aesthetics with usability, Vention transforms portable power from a purely functional device with tool-inspired aesthetics, into one that people see as an extension of their personal style and identity.

Vention H Series: Where Powerful and Safe Performance Meets Personal Style

Designed to complement the iPhone 18’s flagship red color, Vention H Series’ signature Burgundy Dusk colorway combines a sleek 6.9 mm profile with a high-capacity 5,000mAh battery. Blending naturally into everyday life through an understated yet refined silhouette, its contoured aluminum alloy body is finished with a refined matte texture that delivers a soft, frosted feel. A minimalist two-tone design and contoured edges introduces greater depth and sophistication than the conventional single-color, industrial aesthetic that has long defined the category.

The design philosophy is rooted in the Vention H Series’ concept of “Half Sky, Half Earth” where two shades of the same hue meet in harmony to evoke the horizon – the point where the colors of the sky merge with the light reflected across the earth. Drawing inspiration from the ever-changing colors of the sky, the Vention H Series is offered in a curated palette of Burgundy Dusk, Cloud White, and Midnight Black, allowing users to choose a finish that complements both their personal style and everyday surroundings. But beyond its visual inspiration, the design mandate also carries a deeper meaning. “Half Sky, Half Earth” carries a reference to “holding up half the sky,” reflecting the series’ broader expression of bringing a more inclusive and human-centered perspective to portable power design.

Despite its ultra-thin, design-forward profile, the Vention H Series is an engineering achievement built without compromise. Designed for everyday carry, from business and commuting to travel, the series incorporates a solid-liquid hybrid battery, a technology commonly found in flagship smartphones that delivers higher energy density, improved low-temperature performance, and enhanced reliability within an exceptionally slim form factor.

Safety is equally uncompromising. The Vention H Series has passed a 4mm tungsten steel needle puncture test without sparking, smoking, or exploding, while also withstanding a 135°C (275°F) hot-box test for 60 minutes without combustion. This provides users with greater confidence whether carrying it in a bag, pocket, or luggage.

Complementing the hardware is an intuitive companion app that rethinks the portable power experience. Rather than relying on a simple battery percentage, users gain real-time visibility into battery temperature, current, charging status, capacity, and overall system health. By transforming complex battery data into clear, accessible insights, the Vention H Series replaces uncertainty with confidence, making portable power easier to understand and more enjoyable to use.

Dash Series: Introducing the Dash Pro, a 140W 4-Port GAN 5.0 Charger with Smart Energy System

For people constantly on the move, be it business travelers or commuters, repeatedly checking whether their devices are charged is one more unnecessary distraction. But most chargers will only display how much power remains, and not how much power is actually being delivered, how quickly the devices are charging, or how efficiently the charger is performing. The Dash Series, a lineup of six chargers anchored by its flagship the Dash Pro, a 140W 4-port GaN 5.0 charger with a smart display, is designed to remove that uncertainty by making charging more transparent, intuitive, and effortless.

Powered by next-generation 140W GaN 5.0 technology, Dash Pro generates less heat than conventional chargers, while delivering a more compact size, higher efficiency, lower energy loss, and superior thermal performance. It pairs high-performance charging with Vention’s EnergyCore™ platform, transforming complex, real-time charging data into five animated and color-coded expressive emojis that anyone can understand, regardless of technical expertise. Designed to communicate the real-time charging status at a single glance, Dash Pro’s real-time power readings display a sleepy white face when idle; a neutral blue face during trickle charging; a happy green face during fast charging; an excited orange face at maximum speed; and a protective red warning should any anomaly occur.

Or through its companion app, users can monitor the real-time charging power, current, temperature, and device status at a glance. EnergyCore™ also intelligently recognizes connected devices and automatically optimizes power delivery with multiple charging modes, while Vention’s FlashCore™ technology supports all major fast-charging protocols for broad compatibility across both the latest devices and older electronics including PD 3.1, QC, PPS, UFCS, and more.

For users who are often on-the-go, the Dash Pro 140W 4-Port GaN 5.0 Charger with Smart Display features a versatile 3C1A configuration capable of charging up to four devices simultaneously. And whether used at home or abroad, adaptive voltage support (100V–240V) automatically adjusts to regional power standards, while its foldable plug design makes it an ideal travel companion. The charger also features a reinforced plug structure engineered to provide a more secure fit in wall outlets, reducing the tendency for larger multi-port chargers to loosen or tilt under their own weight.

Available in Titanium Gray and Titanium Silver, the Dash Pro 140W 4-Port GAN 5.0 Charger with Smart Display combines premium performance with a refined Red Dot Award winning design.

Marking a Defining Moment for Vention by Charting a New Chapter for Portable Power

The launch marks a defining milestone for Vention. After years of powering many of the industry’s leading portable battery brands as an OEM manufacturer, the company is stepping into the spotlight with its own unique vision for the future of portable power. Built on a foundation of in-house engineering and product innovation, Vention is reimagining the category by making battery technology more intuitive, more engaging, and more seamlessly integrated into everyday life. In doing so, it aims to transform portable power from a purely functional device into one people choose not only for its performance, but as a product that reflects their lifestyle and personal style.

At IFA 2026, Vention is also launching a series of new products including Vention 2-in-1 Retractable Charging Cable, Vention 7-in-2 USB-C Plug-in Docking Station, and the Vention SpotTag Pop Dual-Mode Smart Bluetooth Tracker.

To learn more about Vention, visit https://ventiontech.com/

To access the press kit for the Vention H Series and Dash Series, visit Vention Press Kit

About Vention

Vention is a hi-tech, design-minded consumer electronic accessories brand that offers a diversified portfolio of 4,000 SKUs across charging, connectivity, storage, audio-video, and peripherals selling in more than 100 countries and regions worldwide. Since 2006, the company has been dedicated to making a statement in design, R&D, engineering, supply chain and quality. Driven by a mission to become a trusted global leader in the consumer electronics industry, Vention holds more than 300 technology and design patents, culminating in innovative and high-quality accessories for global customers.

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SOURCE Vention

Technology

THE DR. MARTENS LOAFER COLLECTION: FROM SEASONAL STAPLE TO YEAR-ROUND ESSENTIAL

Published

7 minutes ago

September 3, 2026

NEW YORK, Sept. 3, 2026 /PRNewswire/ — No fall wardrobe is complete without a pair of loafers, and no one does them better than Dr. Martens. Rooted in unmistakable DM’s DNA, each style reimagines the classic loafer silhouette with a contemporary take, creating must have, versatile shoes, taking wearers through autumn and the seasons beyond.

‘The loafer has become one of the most versatile shoes in the modern wardrobe. The penny loafer traces its roots back to early 20th-century Europe but became a fashion statement among students in 1950s America, emerging alongside the rise of youth culture. Today, the silhouette is worn year-round, with creatives, designers and the zeitgeist embracing loafers as a smart alternative to sneakers and a reliable investment piece that moves effortlessly between seasons.’
– John Hensman, Head of Design – Footwear: Dr. Martens

The Mayfare Loafer is the ultimate penny loafer — complete in Polished Black Smooth leather, it’s a staple for elevated dressing this fall. Inspired by heritage design, it’s moc toe shape and penny strap pay homage to classic design, perfect for elevating a casual look. Built on a V18 low-profile sole with subtle welt, it offers a sleeker take on some of DM’s more classic styles.

A fan favorite, the Adrian Tassel Loafer offers a formal take on the tassel loafer. Crafted from rich Burgundy Arcadia leather, these shoes bring a bold edge to day to night dressing. Built on DM’s signature air-cushioned sole and finished with Goodyear-welted heat-sealed construction, they combine all day comfort with Dr. Martens durability.

Versatility is key when dressing for transitional weather, and the Penton Loafer in Spiced Brown does just that. Featuring include a moc toe, penny slot and deep cleats; balancing iconic detailing, for a more relaxed take. Crafted from Mayhem leather, the corrected grain delivers a smooth finish while maintaining depth and character, designed for wearers who never compromise on style. The loafer is complete on a BEN sole with air-cushioned comfort and signature yellow welt stitching, great for wearers on the go.

Finally, the Delapre Penny Loafer, crafted from Repello Calf suede, offers an elevated take on the timeless leather loafer. Part of the Made in England range, the material is a fine grade suede from the legendary C.F. Stead tannery. Each pair is treated with a Scotchgard finish for enhanced protection against water and stains, making them the perfect companion for fall dressing. Signature penny slot and moc toe detailing are paired with iconic Dr. Martens touches, including the heat-sealed, groove-edge construction and signature air-cushioned sole.

The Dr. Martens loafer collection is available to shop now via drmartens.com, and in Dr. Martens stores and through selected retailers worldwide.

ADRIAN ARCADIA LEATHER TASSEL LOAFERS
CHERRY RED — ARCADIA LEATHER

MAYFARE SMOOTH LEATHER LOAFERS
BLACK — POLISHED SMOOTH LEATHER

PENTON LOAFER MAYHEM LEATHER
SPICED BROWN — MAYHEM LEATHER

DELAPRE PENNY REPELLO CALF SUEDE LOAFERS
BROWN — REPELLO CALF SUEDE MB

ABOUT DR. MARTENS
Dr. Martens is an iconic British footwear brand founded in Northamptonshire, England. Its first silhouette, the 1460 boot – named after the date it was produced – rolled off the production line on 1st April 1960. Originally chosen by workers for their air-cushioned comfort and durability, “Docs” or “DM’s” were later adopted by musicians and subcultural pioneers who took them from the street to the global stage.

Over six decades later, Dr. Martens operates in more than 60 countries and employs around 3,600 people. The company continues to honour the brand’s heritage through its ‘Made in England’ footwear, manufactured at its original Northamptonshire factory, while meeting global demand from multiple high-quality production sites across Asia. All our products are made with an unwavering commitment to craft, combined with innovative techniques.

A brand built to put a bounce in the step of those who stand out from the crowd, Dr. Martens is available through Direct-to-Consumer (Retail and Ecommerce) and Wholesale channels. The brand’s collections range from its Original silhouettes – The Icons such as the 1460 boot, 1461 shoe, 2976 Chelsea boot, and Adrian loafer – to modern franchises like the Zebzag, Buzz, and Lowell. The lineup also includes an extensive range of sandals, a dedicated Kids collection, and a curated selection of bags, small leather goods, and accessories.

Every Dr. Martens product reflects craftsmanship, heritage, timeless style, comfort, and versatility. Having transcended generations, the brand stays as relevant today as it was at its inception. Its signature yellow welt stitching, grooved sole edges, and scripted “With Bouncing Soles” heel loops remain iconic symbols recognised around the world.

Dr. Martens plc (DOCS.L) is listed on the main market of the London Stock Exchange and is a constituent of the FTSE 250 index.

For more information, visit www.drmartens.com or www.drmartensplc.com

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SOURCE Dr. Martens

Technology

Motorola debuts the moto watch ultra at IFA 2026

Published

7 minutes ago

September 3, 2026

Motorola is expanding its connected ecosystem in North America with the launch of the moto watch ultra, the most intelligent moto watch yet, featuring Polar fitness and wellness insights, Wear OS by Google™ and LTE eSIM functionality.1

BERLIN, Sept. 3, 2026 /CNW/ — The new moto watch ultra was built on the idea that a healthy lifestyle looks and feels different to everyone. Designed for the 5-a.m. fitness enthusiasts as well as the people who want to better understand their health, this device gives new meaning to well-being through Polar insights.

Motorola is once again teaming up with Polar, a global leader in wearable sports and fitness technology, to help users stay more in tune with their health. The moto watch ultra helps consumers better manage stress, analyze their sleep, train more efficiently and track calories and exercise.

Using Polar’s science-backed fitness algorithms, users can turn to the following wellness features:

Serene™, a breathing exercise mode that offers real-time biofeedback for ultimate relaxation. It notes how long a user spends in the three serenity zones and if they synchronized with the optimal breathing rhythm;Nightly Recharge™ combines sleep quality and autonomic nervous system (ANS) recovery measurement, so users know how well their bodies adjusted from the previous day;Sleep Plus Stages™ tracks the quality of one’s sleep and the time spent in different stages (light, deep, REM) to calculate a personal sleep score.

For those wanting to live a healthier lifestyle, they can depend on these Polar features:

Activity Goal creates a tailored daily target based on the user’s profile and chosen activity level;Activity Score measures the user’s movement and intensity throughout the day, resulting in a personalized score against one’s goal;Active Intensity Zones give users a breakdown of their activity by intensity level (light, moderate, vigorous) that’s determined by their heart rate and movement;Inactivity Alert pops up when someone has been inactive for too long and encourages an active break;Smart Calories provides an overview of a user’s daily burned calories, considering one’s heart rate, wrist movement, weight and age;Energy Sources analyzes how one’s body uses different fuels (fat, carbs, protein) during one’s workout and offers metabolic insights.

Additionally, the new moto watch ultra can monitor key vitals with health tracking sensors. For new and experienced runners, the Running Coach functionality offers guided running and walking workouts right from their wrist. Running Coach is ideal for those who need help with pacing or some extra encouragement.

When out for a run or walk, users can leave their phone at home or disconnect while still being reachable. This is because the moto watch ultra is the first moto watch with LTE functionality,1 allowing users to make or receive calls, send text messages and manage notifications. If stopping for an impromptu coffee or bite to eat, moto watch ultra users can turn to Google Wallet and NFC support to pay2 and rely on dual-band GPS for accurate navigation and precise location tracking.

The new moto watch ultra is powered by Wear OS by Google, unlocking the world of Google Play. Users can access YouTube Music,3 Google Maps, Google Messages, Google Gemini4 and much more. The moto watch ultra is also the first Motorola wearable with built-in Motorola Qira on compatible Motorola and Lenovo devices. Users can raise their wrist or simply say “Hey Qira” to naturally ask questions or pull up saved information from the memory across Lenovo and Motorola devices, too.5 These activities are boosted by the Snapdragon® W5+ Gen 1 Platform that allows individuals to multitask at a moment’s notice.

The moto watch ultra was made to transition from day to night, featuring a large, 1.5″ OLED display with 2700 nits of brightness and an always-on display. This makes it easy to see, regardless of the time of day. Its 46mm stainless steel body makes it suitable for any occasion. And its third-party 22mm band compatibility lets users swap out one look for another, giving users the choice between a breathable silicone band in PANTONE Black Beauty or PANTONE Mountain View and a classy genuine leather option that features PANTONE Black Beauty or PANTONE Nuthatch.

Everything on the moto watch ultra is safeguarded by IP686 and 5ATM underwater protection.7 This way, users can complete a workout in the pool, go on a rainy bike ride or participate in a heated yoga class. Plus, there’s Corning® Gorilla® Glass 3 on the display to keep the watch looking sharp and clear.

The moto watch ultra also offers efficient battery performance. When not using the always-on display, enjoy up to 2 days8 of active use on a single charge, and get up to 24 hours of active use with a 15-minute charge.8,9

Availability
In the United States, the new moto watch ultra will be available on Motorola.com starting September 10 (MSRP: $349.99).10 The device will also be available at Verizon on September 24, and T-Mobile, Metro by T-Mobile, AT&T, Xfinity Mobile, and Consumer Cellular in the coming months.

Contact
Brendan Hall
bphall@motorola.com

Legal Disclaimers
1 Requires a connection. Usage rates may apply. Contact your service provider for more details. Carrier fees, plan requirements, and availability may vary by region.
2 Requires NFC-supported payment terminal and Google Wallet app. Requires pin authorization for purchase. Utilizes Host Card Emulation (HCE) technology, which enables contactless payments through third party mobile apps running on Android operating system. Availability varies with region.
3 Requires a YouTube Premium membership.
4 Gemini mobile app available on select devices, languages, and countries. Internet connection required. Check responses for accuracy.
5 Requires a Motorola account and an active connection to the Motorola Qira-compatible device.
6 Tested to IP68 standards under controlled laboratory conditions. Withstands immersion in up to 1.5 meters of fresh water for up to 30 minutes. Resistance will decrease as a result of normal wear. Not designed to work while submerged underwater. Not waterproof. Do not expose to pressurized water or liquids other than fresh water. Designed to protect against the ingress of solid foreign objects of any size. Not waterproof.
7 Tested to 5ATM water ratings under controlled laboratory conditions. Withstands water pressure up to 50 meters deep for up to 10 minutes. Exposure to conditions beyond this rating are not covered by warranty. Resistance will decrease as a result of normal wear. Do not expose to pressurized water jets or liquids other than fresh water. Do not attempt to charge a wet phone. Not waterproof.
8 Tested with AOD off. All battery life claims are approximate and based on optimal conditions. Actual battery performance will vary and depend on many factors, including device settings, temperature, battery condition, and usage patterns.
9 Battery must be substantially depleted; charging rate slows as charging progresses. The charger must be paired with at least a 30W adapter for fast charging. The adapter is sold separately.
10 Pricing varies by channel.

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SOURCE Motorola Mobility, Inc