GBank Financial Holdings Inc. Announces New SVP/National Sales Manager, George D. Andreaus

Rhea-AI Summary

GBank Financial Holdings Inc. (OTCQX: GBFH) announced the appointment of George D. Andreaus as the new Senior Vice President/National Sales Manager for the Bank of George. Andreaus brings extensive experience in SBA lending and leadership from Evolve Bank and Trust. Reporting to Nancy M. DeCou, he will lead the SBA National Sales Team. GBank, with approximately $618 million in assets, emphasizes its commitment to small businesses across several states, enhancing its national SBA footprint.

Positive

• Appointment of experienced industry leader George D. Andreaus as Senior VP/National Sales Manager is expected to expand SBA lending capabilities.
• Bank of George ranked 19th nationally for SBA 7(a) loan volume as of September 30, 2021.

Negative

• Potential risks from the ongoing COVID-19 pandemic could adversely impact the Company's business operations.
• Future performance may be affected by credit risk, market interest rate changes, and possible economic downturns.

LAS VEGAS, Feb. 8, 2022 /PRNewswire/ -- GBank Financial Holdings Inc. ("GBank" or the "Company") (OTCQX: GBFH), the parent company for Bank of George (the "Bank"), today announced the addition of their new Senior Vice President/National Sales Manager for Bank of George, George D. Andreaus.

Mr. Andreaus reports to Nancy M. DeCou, EVP/Chief SBA Officer, and leads the Bank of George SBA National Sales Team.

"We are thrilled to have George on our team, further expanding our national SBA footprint," stated EVP DeCou.

Mr. Andreaus brings a wealth of SBA experience to Bank of George, having served as Regional Sales Manager, National Sales Manager, and then Chief Operating Officer at Evolve Bank and Trust in Memphis, Tennessee. Mr. Andreaus was named as the SBA Division President at Evolve in 2021, where he managed a team of 30 individuals whose production earned them a place in the top 10% of all SBA shops in the country. 

Mr. Andreaus began his SBA career in Sales at GE Capital. After a successful seven years, he advanced to managing an SBA team at CIT Small Business Lending Corp as Vice President/Regional Sales Manager-East, with experiences in SBA lending, corporate banking, and commercial loans adding to his expertise.   

T. Ryan Sullivan, President/CEO for GBank and Bank of George, added "George brings with him deep industry experience as well as a true passion for small business and SBA lending. Working together, we are excited to expand 'Your Best Banking Experience – Ever!' to even more of our small business communities."

Mr. Andreaus was a recipient of the MBA Scholarship from Lehigh University for scholastic achievement, where he received his Master of Business Administration. He received his Bachelor of Business Administration (BBA) in finance from Adelphi University. He has served as a Member of the Finance Committee for US Congressman Gus Bilirakis of Florida and continues to be active in his local community.

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 BankCard Services, LLC ("BCS") 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.

 

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SOURCE GBank Financial Holdings Inc.

FAQ

What is the significance of George D. Andreaus's appointment at GBank Financial Holdings?

George D. Andreaus's appointment as Senior VP/National Sales Manager is expected to enhance GBank's SBA lending capabilities and expand its national footprint.

What were GBank Financial Holdings's total assets at the end of 2021?

GBank Financial Holdings had approximately $618 million in assets as of December 31, 2021.

How is GBank Financial Holdings positioned in the SBA lending market?

GBank is ranked 19th in the nation for SBA 7(a) loan volume as of September 30, 2021.

What are the potential risks mentioned in GBank's press release?

The press release mentions risks related to the COVID-19 pandemic, credit risk, market interest rates, and economic downturns.