GBank Financial Holdings Inc. Announces Bank of George Ranks #6 in S&P Global Market Intelligence's 2021 Ranking of the Best-Performing U.S. Community Banks Under $3 Billion in Assets

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Mar 24, 2022, 15:18 ET

LAS VEGAS, March 24, 2022 /PRNewswire/ -- GBank Financial Holdings Inc. ("GBank" or the "Company") (OTCQX: GBFH), the parent company for Bank of George (the "Bank"), today announced an industry report ranking them the 6^th best-performing U.S. community bank under $3 billion in assets.

S&P Global Market Intelligence just released its ranking of the Best-Performing Community Banks and Credit Unions for 2021. Top-performing community banks were ranked in two categories: banks $3B - $10B in assets and banks less than $3B in assets. The full press release can be found here.

"The Bank's 6^th place position puts us in the top 100 for the sixth consecutive year. Out of 4,015 banks under $3B in assets, this places us firmly in the top 1% of our peer bank group, a testament to our continued spirit of innovation and dedication to providing the best solutions for our customers." stated T. Ryan Sullivan, President/CEO of Bank of George.

S&P Global Market Intelligence is a division of S&P Global (NYSE: SPGI). According to its website, it is a world-leading provider of financial information services, and its data and analytics uncover insights from an unrivaled breadth and depth that won't be found anywhere else: from comprehensive fundamentals to sector-specific performance metrics, M&A to credit risk, plus insightful news, forecasts, and analytics.

To compile the ranking, S&P Global Market Intelligence calculated scores for each company based on six metrics: pre-tax return on tangible common equity; efficiency ratio; operating revenue growth; net charge-offs to average loans and leases net of Payment Protection Program ("PPP") loans ratio; nonperforming assets and loans 90 days or more past due as a percentage of total assets, net of PPP loans; and leverage ratio. Each company's standard deviation from the industry mean was calculated for every raking metric, weighted, then combined to derive a performance score. To help normalize the data and mitigate the impact of outliers, caps and floors were applied for each metric.

The Company

GBank Financial Holdings Inc. ("GBank" or the "Company") (GBFH), a bank holding company with approximately $618 million in assets at December 31, 2021, 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, its Gaming FinTech Division is powering 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 https://www.bankofgeorge.com. 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.

Questions or comments concerning this Press Release should be directed to:

GBank Financial Holdings Inc.
T. Ryan Sullivan
President and CEO
702-851-4200
[email protected]

SOURCE GBank Financial Holdings Inc.