GBank Financial Holdings Stock Price, News & Analysis

GBank Financial Holdings Inc. (OTCQX: GBFH) has announced its virtual annual meeting of shareholders set for May 9, 2023, at 12:00 p.m. PST. Shareholders can participate via ZOOM, with details provided for joining online or by telephone. The meeting will be led by Edward M. Nigro, Executive Chairman, and T. Ryan Sullivan, President/CEO, who encourage shareholders to review the annual meeting notice and related materials ahead of time. The Company reported approximately $678.7 million in assets as of December 31, 2022. GBank operates in Nevada and focuses on small- to medium-sized businesses, with significant SBA lending and a presence in the gaming fintech sector. The detailed annual report was made available on March 31, 2023.

GBank Financial Holdings Inc. (OTCQX: GBFH) has appointed Tara A. Campbell as its new Executive Vice President and Chief Operating Officer, effective April 3, 2023. Ms. Campbell brings 24 years of banking experience, including roles in SBA Lending and Treasury Management. She previously worked at Dallas Capital Bank, leading initiatives in operations, vendor negotiations, and payment systems. President and CEO Ryan Sullivan emphasized that Campbell's background aligns with GBank's growth in Gaming FinTech and payment solutions. With approximately $678.7 million in assets, GBank has been recognized among the Top 100 Best-Performing Community Banks by S&P Capital IQ.

GBank Financial Holdings Inc. (OTCQX: GBFH) presented an investor presentation at the Janney West Coast Bank CEO Forum on February 1-2, 2023, in Scottsdale, AZ. The bank, previously known as the Bank of George, has approximately $678.7 million in assets as of December 31, 2022, and operates two branches in Las Vegas, Nevada. GBank focuses on three divisions: SBA Lending, Gaming FinTech, and Commercial Lending, with a notable ranking as the 14th in SBA 7(a) dollar loan volume. GBank has been recognized annually in S&P Capital IQ's Top 100 Best-Performing Community Banks and continues to innovate in cashless mobile commerce solutions for the gaming sector.

GBank Financial Holdings Inc. (GBFH) reported a net income of $3.3 million ($0.25 per diluted share) for Q4 2022, up from $2.6 million in Q3 2022. Yearly net income was $10.9 million, slightly down from $11.0 million in 2021. Net revenues rose 13% to $41.7 million, driven by a 43% increase in net interest income to $25.2 million. However, noninterest income fell 15% to $16.5 million, and noninterest expenses surged 22% to $26.3 million. Total assets grew 9% to $678.7 million, with total deposits rising to $555.4 million. The bank's net interest margin improved to 4.28%. Despite challenges, GBank aims for continued growth through strategic initiatives.

GBank Financial Holdings Inc. (OTCQX: GBFH) announces the launch of Sightline Payments' 2nd generation cashless technology at Resorts World Las Vegas, enhancing the consumer journey with remote identity verification, biometric authentication, and a unified digital wallet experience. GBank has partnered with BankCard Services since 2016, supporting Sightline's digital payment solutions in the gaming industry, which is projected to exceed $150 billion. GBank reports assets of approximately $667 million as of September 30, 2022, and has served around 400,000 accounts with over $2 billion in transactions since launching Play+ in Nevada.

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.

GBank Financial Holdings Inc. (OTCQX: GBFH) announced a partnership with i2c Inc. to enhance its gaming payments ecosystem through a new virtual and physical credit product. This collaboration aims to address the needs of underserved customers in a rapidly growing $400B U.S. gaming market. Edward M. Nigro emphasized i2c's reliability and capability to support this initiative. Additionally, David J. Fersdahl has been appointed EVP/Card & Payments to oversee this credit card program, leveraging his extensive background in credit card management.