GBank Financial Holdings Inc. Announces Bank of George Exceeds $1 Billion Under SBA 7(a) and USDA.
LA VEGAS, May 9, 2022 /PRNewswire/ — GBank Financial Holdings Inc. (“GBank” or the “Company”) (OTCQX: GBFH), the parent company of Bank of George (the “Bank”), one of the top 100 U.S. SBA 7(a) lenders, today announced that the Bank’s SBA division has surpassed $1 billion cumulative total SBA 7(a) and USDA loan issuance.
The Bank’s SBA Division granted its first SBA 7(a) loan in June 2015quickly positioning itself as a trusted partner for small business owners.
Bank of George offers SBA and United States Department of Agriculture (USDA) loans under the National Government Guaranteed Loan Programs to select industries and customers, both in-market and out-of-market. The Bank is recognized as one of the nation’s most active SBA lenders and is known for its demanding underwriting and exceptional service. The Bank is ranked 19th in the country by the US Small Business Administration for SBA 7(a) dollar lending volume via September 30, 2021.
The Bank has been a top national SBA 7(a) hotel and motel lender in each of the past three years, while maintaining strong national relationships and establishing itself as a government guaranteed lender leading within the industry.
“The Bank’s SBA division team members are some of the most skilled and hardworking talent in the industry, and we could not have achieved this historic achievement without the efforts of each of them. “, said Nancy M. DeCouEVP/SBA Director.
“In 2015, the Bank decided to establish an SBA 7(a) loan program to continue providing resources to small American businesses.” said T ryan sullivan, Chairman and CEO. “Now lending in 40 states, the Bank’s SBA capability has blossomed under Ms. DeCou’s leadership and will continue to grow as the Bank recruits top lenders in attractive markets.”
“On behalf of our Board of Directors, I would like to thank each of our team members for their contributions to this important milestone in the history of Bank of George and GBank Financial Holdings Inc.,” said Edward M. NigroExecutive Chairman.
GBank Financial Holdings Inc. (“GBank” or the “Company”) (GBFH), a bank holding company with approximately $626 million of assets to March 31, 2022operates 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, Nevadawith core lending activities focused on engaging clients in Nevada, California, Utah, and Arizona. Bank of George has key businesses in three major divisions: SBA Lending, Gaming FinTech and Commercial Lending. The Bank operates nationally through its SBA lending business (ranked 19th nationally by the U.S. Small Business Administration for SBA 7(a) dollar lending 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“) strengthens Sightline Payments’ Play+ solution (Sightline Payments) for transparent and secure payment and gaming that enable cashless mobile commerce solutions for gaming, lottery and sports betting ecosystems – positioning GBank as a financial leader in this new world of payments. The Bank also provides general commercial banking services with an emphasis on the needs of small and medium enterprises, high net worth individuals, professionals and investors. The Bank offers a full suite of consumer deposit products and is focused on providing a superior level of service. Bank of George has been recognized annually for each of the past five years by S&P Global Market Intelligence as one of America’s Top 100 Community Banks under $3 billion in assets. For more information on Bank of George, please visit its website at https://www.bankofgeorge.com. GBank’s common stock is listed on the US OTCQX exchange under the symbol GBFH.
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 regarding the possible or assumed future results of operations of the Company and its subsidiaries. Where words such as “believes”, “expects”, “anticipates” or similar expressions appear 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 these results to differ materially from those expressed in the forward-looking statements contained in this press release. These factors include, but are not limited to: the recent and ongoing coronavirus (COVID-19) pandemic which poses risks and could adversely affect the Company’s business and results of operations in the coming quarters, the risk conditions, changes in market interest rates, failure to achieve merger synergies, competition, economic slowdown or recession, and government regulation and supervision. The Company assumes no obligation to update or revise any forward-looking statements.
SOURCEGBank Financial Holdings Inc.