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GBank Financial Holdings Inc. Announces Bank of George Surpasses $1 Billion in SBA 7(a) and USDA Loan Originations


LAS VEGAS, May 9, 2022 /PRNewswire/ -- GBank Financial Holdings Inc. ("GBank" or the "Company") (OTCQX: GBFH), the parent company for Bank of George (the "Bank"), a top 100 SBA 7(a) U.S. Lender, today announced that the Bank's SBA Division has surpassed $1 Billion in total cumulative SBA 7(a) and USDA Loan Originations.

The Bank's SBA Division originated its first SBA 7(a) loan in June 2015, quickly positioning itself as a trusted partner for small business owners.

Bank of George offers SBA and U.S. Department of Agriculture (USDA) loans across the national government guaranteed lending programs to certain industries and customers both in-market and out-out-of-market. The Bank is recognized as one of the most active SBA lenders in the country, and is known for its discerning underwriting and outstanding service. The Bank is ranked 19th in the nation by the U.S. Small Business Administration for SBA 7(a) dollar loan volume through September 30, 2021.

The Bank has been a top national SBA 7(a) Hotel/Motel lender for each of the past three years, while maintaining strong national relationships and establishing itself as a premier government guaranteed lender within the industry.

"The Bank's SBA Division team members are some of the most-knowledgeable and hardest-working talent in the industry, and we couldn't have reached this landmark accomplishment without the efforts of each and every one of them," said Nancy M. DeCou, EVP/Chief SBA Officer.

"In 2015, the Bank determined that it would establish an SBA 7(a) lending program in order to continue to provide resources to American small businesses." said T. Ryan Sullivan, President and CEO. "Now lending in 40 states, the Bank's SBA capability has flourished under the leadership of Ms. DeCou, and will continue to expand as the Bank recruits top lenders in attractive markets."

"On behalf of our Board of Directors, I want to thank each of our team members for their contributions to this major milestone in the history of Bank of George and GBank Financial Holdings Inc.," said Edward M. Nigro, Executive Chairman.

The Company

GBank Financial Holdings Inc. ("GBank" or the "Company") (GBFH), a bank holding company with approximately $626 million in assets at March 31, 2022, conducts business through its wholly owned subsidiary, Bank of George (named in honor of George Washington). Founded in 2007, the Bank operates two full-service commercial branches in Las Vegas, Nevada, with primary lending activities focused on engaging clients in Nevada, California, Utah, and Arizona. Bank of George has key businesses in three prominent divisions: SBA Lending, Gaming FinTech, and Commercial Lending. The Bank conducts business nationally through its SBA lending activities (ranked 19th in the nation by the U.S. Small Business Administration for SBA 7(a) dollar loan volume through September 30, 2021) and its partnership. Launched in 2016, the Bank's Gaming FinTech Division, through its contract with BankCard Services, LLC ("BCS") is empowering Sightline Payments Play+ Solution (Sightline Payments) for seamless and secure pay-and-play that is enabling cashless, mobile commerce solutions for gaming, lottery, and sports betting ecosystems – positioning GBank as a financial leader in this new payments world. The Bank also provides general commercial banking services with an emphasis on serving the needs of small- and medium-sized businesses, high net worth individuals, professionals, and investors. The Bank offers a full complement of consumer deposit products and is focused on delivering a premium level of service. Bank of George has been recognized every year for each of the past five years by S&P Global Market Intelligence as a top 100 U.S. community bank under $3 billion in assets. For more information about Bank of George, please visit its website at GBank's Common Stock is quoted on the US OTCQX Market under the symbol GBFH.

Forward-looking Statements

GBank has made forward-looking statements in this Press Release. These forward-looking statements are subject to risks and uncertainties. Forward-looking statements include information concerning possible or assumed future results of operations of the Company and its subsidiaries. When words such as "believes," "expects," "anticipates," or similar expressions occur in this Press Release, the Company is making forward-looking statements. Note that many factors could affect the future financial results of the Company and its subsidiaries, both individually and collectively, and could cause those results to differ materially from those expressed in the forward-looking statements contained in this Press Release. Those factors include, but are not limited to: the recent and continuing coronavirus (COVID-19) pandemic which poses risks and may harm the Company's business and results of operations in future quarters, credit risk, changes in market interest rates, inability to achieve merger-related synergies, competition, economic downturn or recession, and government regulation and supervision. The Company undertakes no obligation to update or revise any forward-looking statements.

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SOURCE GBank Financial Holdings Inc.