GBank Financial Holdings Inc. Announces Election of A.G. Burnett to GBank Board of Directors

Rhea-AI Summary

GBank Financial Holdings Inc. (OTCQX: GBFH) announced the election of A.G. Burnett to its Bank's Board of Directors, effective December 1, 2024. Burnett, who served as Chairman of the Nevada Gaming Control Board from 2012 to 2017, brings significant legal and regulatory expertise to the board. Currently a Partner at McDonald Carano's Gaming & Administrative Law Group, Burnett has received notable recognitions including 'Lawyer of the Year' in Gaming Law and Band 1 ranking in Gaming & Licensing Law by Chambers USA. He has also provided testimony to Congress and advised policymakers on gaming regulation and sports betting legalization.

Positive

• Addition of board member with extensive gaming industry regulatory expertise
• Appointment of highly recognized professional with federal-level advisory experience

Negative

• None.

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LAS VEGAS, Dec. 2, 2024 /PRNewswire/ -- GBank Financial Holdings Inc. (the "Company") (OTCQX: GBFH), the parent company of GBank (the "Bank"), is pleased to announce the election of A.G. Burnett to the Bank's Board of Directors, effective December 1, 2024. Mr. Burnett's election brings decades of legal and regulatory expertise to the GBank board.

A.G. Burnett served as Chairman of the Nevada Gaming Control Board ("GCB") from 2012 to 2017. The purpose of the GCB is to protect the stability of the gaming industry through investigations, licensing and enforcement of laws and regulations; to ensure collection of gaming taxes and fees; and to maintain public confidence in gaming. Mr. Burnett currently serves as a Partner in the Gaming & Administrative Law Group with McDonald Carano, where he advises clients on complex gaming law and regulatory matters.

Mr. Burnett has been recognized with numerous accolades, including "Lawyer of the Year" in Gaming Law by The Best Lawyers in America and Band 1 ranking in Gaming & Licensing Law by Chambers USA. His influence extends beyond Nevada, as he has provided testimony in Congress and advised state and federal policymakers on gaming regulation and sports betting legalization.

"A.G. Burnett's expertise in gaming regulation, governance and compliance shall provide additional leadership to our GBank Board as we continue to execute our strategic initiatives," said Edward M. Nigro, Executive Chairman of GBank and GBFH.

Mr. Burnett expressed his enthusiasm for joining the Board, stating, "I am honored to join GBank's Board and look forward to working with the Board and management team to advance the Bank's mission and support its stakeholders."

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Cautionary Notice Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, without limitation, statements regarding certain of the Company's goals and expectations with respect to future events that are subject to various risks and uncertainties, and statements preceded by, followed by, or that include the words "may," "will," "could," "should," "expect," "plan," "project," "intend," "anticipate," "believe," "estimate," "predict," "potential," "pursuant," "target," "continue," and similar expressions. These statements are based upon the current belief and expectations of the Company's management team and are subject to significant risks and uncertainties that are subject to change based on various factors (many of which are beyond the Company's control). Factors that could cause actual results to differ materially from management's projections, forecasts, estimates and expectations include, but are not limited to: the impact on us or our customers of a decline in general economic conditions and any regulatory responses thereto; potential recession in the United States and our market areas; the impacts related to or resulting from bank failures and any continuation of uncertainty in the banking industry, including the associated impact to the Company and other financial institutions of any regulatory changes or other mitigation efforts taken by government agencies in response thereto; increased competition for deposits and related changes in deposit customer behavior; the impact of changes in market interest rates, whether due to continued elevated interest rates or potential reductions in interest rates and a resulting decline in net interest income; the persistence of the inflationary pressures, or the resurgence of elevated levels of inflation, in the United States and our market areas; the uncertain impacts of ongoing quantitative tightening and current and future monetary policies of the Board of Governors of the Federal Reserve System; effects of declines in housing prices in the United States and our market areas; increases in unemployment rates in the United States and our market areas; declines in commercial real estate values and prices; uncertainty regarding United States fiscal debt and budget matters; cyber incidents or other failures, disruptions or breaches of our operational or security systems or infrastructure, or those of our third-party vendors or other service providers, including as a result of cyber-attacks; severe weather, natural disasters, acts of war or terrorism, geopolitical instability or other external events; regulatory considerations; our ability to recognize the expected benefits and synergies of our completed acquisitions; the maintenance and development of well-established and valued client relationships and referral source relationships; acquisition or loss of key production personnel; changes in tax laws; the risks related to the development, implementation, use and management of emerging technologies, including artificial intelligence and machine learnings; potential increased regulatory requirements and costs related to the transition and physical impacts of climate change; and current or future litigation, regulatory examinations or other legal and/or regulatory actions. These forward-looking statements are based on current information and/or management's good faith belief as to future events. Although the Company believes that the assumptions underlying the forward-looking statements are reasonable, any of the assumptions could prove to be inaccurate. Therefore, the Company can give no assurance that the results contemplated in the forward-looking statements will be realized. Due to these and other possible uncertainties and risks, readers are cautioned not to place undue reliance on the forward-looking statements contained in this press release. The inclusion of this forward-looking information should not be construed as a representation by the Company or any person that the future events, plans, or expectations contemplated by the Company will be achieved. All subsequent written and oral forward-looking statements attributable to the Company or any person acting on its behalf are expressly qualified in their entirety by the cautionary statements above. The forward-looking statements are made as of the date of this press release. The Company does not undertake any obligation to update any forward-looking statement to reflect circumstances or events that occur after the date the forward-looking statements are made, except as required by law. All forward-looking statements, express or implied, included in the press release are qualified in their entirety by this cautionary statement.

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SOURCE GBank Financial Holdings Inc.

FAQ

When did A.G. Burnett join GBank Financial Holdings (GBFH) board of directors?

A.G. Burnett joined GBank Financial Holdings' board of directors effective December 1, 2024.

What is A.G. Burnett's background before joining GBank Financial Holdings (GBFH)?

A.G. Burnett served as Chairman of the Nevada Gaming Control Board from 2012 to 2017 and is currently a Partner at McDonald Carano's Gaming & Administrative Law Group.

What expertise does A.G. Burnett bring to GBank Financial Holdings (GBFH)?

A.G. Burnett brings decades of legal and regulatory expertise, particularly in gaming law, regulation, governance, and compliance.