LAS VEGAS, Feb. 23, 2023 /PRNewswire/ -- GBank Financial Holdings Inc. ("GBank" or the "Company") (OTCQX: GBFH), the parent company for GBank (formerly known as "Bank of George") (the "Bank") today announced that GBank is ranked number 5 of 544 U.S. banks in the C-Corp: $500-999 Million peer group within CB Resource's CB Top Ten™ report for the 4th Quarter of 2022.
CB Resource, Inc. is a risk management and planning firm primarily focused on community banks. According to the report, its purpose is to provide a comparative summary, by peer group, of the top ten percent of banks based upon key performance indicators selected by CB Resource, Inc.
The report ranks the top ten percent of banks within each peer group by eight performance indicators. These indicators include: asset growth rate (AGR), return on average assets (ROAA), return on average equity (ROAE), net interest margin (NIM), efficiency ratio (ER), non-performing assets (NPA), non-interest bearing deposits (NIBD), and non-interest income (NII).
"This latest ranking means that the Bank has been recognized in the top 100 for each of the past 30 quarters or, in other words, for every quarter over the past seven and a half years", stated T. Ryan Sullivan, President/CEO of GBank. "This amazing achievement and our continued financial strength are the direct result of the incredible support from our employees, customers, directors, and shareholders."
The Company
GBank Financial Holdings Inc. (the "Company") (GBFH), a bank holding company with approximately $678.7 million in assets at December 31, 2022, conducts business through its wholly owned subsidiary, GBank (formerly known as "Bank of George") (the "Bank"). 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. GBank 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 14th in the nation by the U.S. Small Business Administration for SBA 7(a) dollar loan volume through September 30, 2022) and its BankCard Services, LLC ("BCS") partnership. Launched in 2016, its Gaming FinTech Division, through its contract with 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 the Bank 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. GBank has been recognized every year for each of the past six years by S&P Capital IQ in its Top 100 Best-Performing Community Banks. For more information about GBank, please visit its website at www.g.bank. The Company's Common Stock is quoted on the US OTCQX Market under the symbol GBFH.
Cautionary Notice Regarding Forward-Looking Statements
The Company 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.
