GBank Financial Holdings Inc. Announces Bank of George Sponsored Nonprofit, SafeNest, Awarded $25,000 FHLBank San Francisco 2021 AHEAD Economic Development Grant

Rhea-AI Summary

GBank Financial Holdings Inc. (OTCQX: GBFH) announces that its sponsored nonprofit, SafeNest, has received a $25,000 grant from the FHLBank San Francisco as part of the AHEAD program. This grant aims to support economic development and financial stability in communities across Arizona, California, and Nevada. SafeNest, dedicated to combating domestic violence, has served over 25,000 individuals since its inception. GBank, with $543 million in assets as of June 30, 2021, operates Bank of George, focusing on community banking and innovative financial solutions.

Positive

• SafeNest received a $25,000 grant to enhance its financial stability initiatives.
• GBank's assets are approximately $543 million as of June 30, 2021.
• Bank of George has been recognized as a top 100 U.S. community bank for the past five years.

Negative

• None.

LAS VEGAS, Oct. 12, 2021 /PRNewswire/ -- GBank Financial Holdings Inc. ("GBank" or the "Company") (OTCQX: GBFH), the parent company for Bank of George (the "Bank"), today announced Bank of George sponsored nonprofit, SafeNest, is the recipient of a $25,000 grant.

"I am pleased to report that our sponsored nonprofit, SafeNest, was awarded $25,000 in this year's FHLBank San Francisco AHEAD program," said T. Ryan Sullivan, President/CEO of GBank and Bank of George.

The grant provided by Federal Home Loan Bank of San Francisco is awarded to nonprofits through a competitive process that is available to their members. FHLBank San Francisco awarded $1.5 million in grants to 60 projects to boost economic development activity and promote financial stability in Arizona, California, and Nevada communities. 

"Financial instability should not be the reason someone returns to an abusive domestic situation," said Marietta Núñez, Senior Vice President and Community Investment Officer at FHLBank San Francisco. "We are proud to partner with our member, Bank of George, to enable SafeNest to offer direct financial assistance to clients who need a boost to stay safe and move forward with their lives."

About SafeNest

SafeNest is Nevada's largest and most comprehensive nonprofit dedicated to ending the epidemic of domestic violence in Clark County. Since opening its doors in 1977, SafeNest has answered over 500,000 hotline calls and sheltered over 25,000 individuals. Services include: 24/7/365 domestic violence hotline, PS417 mobile response, emergency shelter, counseling, court support, advocacy, and case management. For more information, visit www.SafeNest.org. For immediate help and support, call or text the 24/7 domestic violence hotline at 702-646-4981. 

About Federal Home Loan Bank of San Francisco

FHLBank San Francisco is a member-driven cooperative helping local lenders in Arizona, California, and Nevada strengthen communities, create opportunity, and change lives for the better. The tools and resources we provide to our member financial institutions promote homeownership, expand access to quality housing, and boost economic development. AHEAD grants are awarded annually and delivered through the Bank's member financial institutions to local community organizations for projects and programs that benefit lower-income and underserved communities.

The Company

GBank Financial Holdings Inc. ("GBank" or the "Company") (GBFH), a bank holding company with approximately $543 million in assets as of June 30, 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, FinTech Gaming Division, and Commercial Lending. The Bank conducts business nationally through its SBA lending activities (ranked 24th in the nation by the U.S. Small Business Administration for SBA 7(a) dollar loan volume through June 30, 2021) and its BankCard Services, LLC ("BCS") partnership.  Launched in 2016, its FinTech Gaming Division is powering Sightline Payments Play+ Solution (https://sightlinepayments.com/) 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.

 

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SOURCE GBank Financial Holdings Inc.

FAQ

What grant did GBank Financial Holdings announce for SafeNest?

GBank Financial Holdings announced that SafeNest received a $25,000 grant from the Federal Home Loan Bank of San Francisco.

What is the purpose of the FHLBank San Francisco AHEAD program?

The AHEAD program provides grants to nonprofits to boost economic development and promote financial stability in local communities.

How much are GBank's total assets as of June 30, 2021?

As of June 30, 2021, GBank Financial Holdings has approximately $543 million in assets.

What recognition have Bank of George received?

Bank of George has been recognized annually for five years as a top 100 U.S. community bank under $3 billion in assets.