GBank Financial Holdings Inc. Pleased to Announce that Bank of George is now GBank

Rhea-AI Summary

GBank Financial Holdings Inc. (OTCQX: GBFH) has rebranded its subsidiary, formerly known as Bank of George, to GBank. This change is part of a broader strategy to enhance brand awareness and reflect modern technological solutions. The updated logo and website are designed to provide a more contemporary user experience and improve client communication security by transitioning to a .BANK domain. As of September 30, 2022, GBank holds approximately $667 million in assets and operates in key financial sectors, including SBA lending and Gaming FinTech.

Positive

• Rebranding to GBank aims to enhance brand recognition and align with technological advancements.
• Introduction of improved website design for better user experience and client support.
• Transitioning to a .BANK domain enhances internet security and client trust.

Negative

• None.

LAS VEGAS, Oct. 24, 2022 /PRNewswire/ -- GBank Financial Holdings Inc. (the "Company") (OTCQX: GBFH), the parent company for GBank (formerly known as "Bank of George") (the "Bank"), today announced the public release of the Bank's new corporate brand and launch of its new Bank website. 

"When we applied for our bank approval in 2007, the FDIC advised that there were over 80 applications for de novo banks in the San Francisco region alone. We chose Bank of George to accomplish two important objectives, prompt the question 'who is George?', and instill our values with the answer - George Washington," said Edward M. Nigro, Executive Chairman. "So, today we are taking another most important step in our venture, positioning George to reflect today's rapidly advancing technical solutions that we are providing our customers. GBank shall represent the new - but the 'G' will always stand for George."

The updated logo is designed to be simplified but bold with contrasting colors. The new design provides the logo with a more current and relevant look. The design also aims to provide clients with a feel that reflects the Company's spirit of innovation.

"More and more, our national markets and communities have associated our success with the shortened name of our Holding Company: GBank," said T. Ryan Sullivan, President and CEO. "After a great deal of thought and consideration, the Boards of Directors for both the Bank and the Holding Company have determined that it is time to bring our brand awareness in line with our national image. To that end, we are excited to now update our Bank's name and brand. While our name and website have now changed, we remain focused on building on our future success while continuing to provide 'Your Best Banking Experience – Ever!®'."

The Bank's re-designed website can now be accessed at www.g.bank. It has a more intuitive user experience and additional content that supports clients and captures GBank's deep expertise and longstanding commitment to exceptional client service.

In order to enhance our internet and email security, we have changed our website and email domain from .COM to .BANK. The .BANK domain is available exclusively to the banking industry. By following the industry standard and changing our GBank website and email to the .BANK domain, it offers enhanced security by allowing others to quickly verify and confirm that they are communicating with us.

The Company

GBank Financial Holdings Inc. (the "Company") (GBFH), a bank holding company with approximately $667 million in assets at September 30, 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. 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 14^th 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. Bank of George 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.

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.

View original content:https://www.prnewswire.com/news-releases/gbank-financial-holdings-inc-pleased-to-announce-that-bank-of-george-is-now-gbank-301657894.html

SOURCE GBank Financial Holdings Inc.

FAQ

What does the rebranding of Bank of George to GBank signify for GBFH?

The rebranding to GBank reflects a strategic move to enhance brand recognition and align with modern technological solutions.

How does the new GBank website improve user experience?

The redesigned GBank website offers a more intuitive user experience with additional content to support clients.

What is the significance of the .BANK domain for GBank?

The .BANK domain enhances internet security and verifies communications, providing clients with increased trust.

What are the primary business areas of GBank?

GBank focuses on SBA lending, Gaming FinTech, and general commercial banking services.

What is GBank's asset value as of September 30, 2022?

As of September 30, 2022, GBank has approximately $667 million in assets.