GBank Financial Holdings Inc. is a bank holding company for GBank, a Las Vegas-based bank that provides commercial, business and retail banking products and services. Company news centers on quarterly results, net interest income and margin trends, loan growth, deposit costs, SBA and commercial banking originations, and credit quality developments.
Recurring updates also cover GBank’s national payment and Gaming FinTech business lines, including the GBank Visa Signature® Card and payments systems for gaming and sports entertainment markets. Other company announcements include leadership and governance appointments, capital actions such as subordinated debt financing, and regulatory or partner approvals tied to cashless wagering and payments technology.
GBank Financial Holdings Inc. (OTCQX: GBFH) has scheduled its annual meeting of shareholders for May 12, 2022, at 2:00 p.m. PST. The meeting will be conducted virtually, allowing shareholders to join via the ZOOM app or telephone, with no physical location provided. GBank, which had approximately $618 million in assets as of December 31, 2021, operates through its subsidiary, Bank of George, and focuses on sectors like SBA Lending and Gaming FinTech. Shareholders are encouraged to review related materials prior to the meeting.
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GBank Financial Holdings Inc. (OTCQX: GBFH) has announced that its subsidiary, Bank of George, will partner with BankCard Services, LLC to welcome Wagr as a new client in cashless gaming. Wagr offers a social sports betting app that enhances user engagement. Bank of George has been providing banking solutions for Sightline Payments since 2016, handling over $1.1 billion in transactions. The Bank operates with approximately $618 million in assets as of December 31, 2021, focusing on SBA Lending, Gaming FinTech, and Commercial Lending, while being recognized as a top community bank.
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.
GBank Financial Holdings Inc. (OTCQX: GBFH) reported year-to-date earnings of $11 million, or $0.85 per diluted share, reflecting a 57% increase year-over-year. Fourth-quarter earnings rose 50% to $4 million, driven by record loan sales income which reached $17.1 million for the year, up 73%. Total assets increased 31% to $618.1 million, with total deposits also up 31% to $509.6 million.
GBank Financial Holdings Inc (OTCQX: GBFH) announced the successful completion of a $20 million private placement of 3.875% Fixed-to-Floating Rate Subordinated Notes due 2031 on December 14, 2021. The proceeds will support general corporate purposes as GBank aims to enhance its business growth and geographical reach. The Notes will initially bear a fixed interest rate until December 15, 2026 and can be redeemed following that date. With approximately $552 million in assets, GBank operates through its Bank of George subsidiary.
GBank Financial Holdings Inc. (GBFH) reports a remarkable 113% increase in year-to-date earnings, totaling $7.01 million or $0.54 per diluted share, up from $3.29 million or $0.26 last year. However, Q3 earnings fell by 20% to $2.64 million, compared to $3.32 million in Q2 2021. Key highlights include total assets rising 28% to $552.33 million and total deposits increasing 32% to $467.32 million. Noninterest income surged 98% to $12.84 million. The company remains committed to COVID-19 relief programs.
GBank Financial Holdings Inc. (OTCQX: GBFH) announces that its sponsored nonprofit, SafeNest, has received a $25,000 grant from the FHLBank San Francisco as part of the AHEAD program. This grant aims to support economic development and financial stability in communities across Arizona, California, and Nevada. SafeNest, dedicated to combating domestic violence, has served over 25,000 individuals since its inception. GBank, with $543 million in assets as of June 30, 2021, operates Bank of George, focusing on community banking and innovative financial solutions.
GBank Financial Holdings Inc. (OTCQX: GBFH) announced its partnership with Sightline Payments, which recently achieved a $1 billion valuation after raising $244 million. This milestone makes Sightline Nevada's first fintech unicorn. Since 2016, Bank of George, a GBank subsidiary, has provided banking solutions for Sightline, servicing over 700,000 accounts and facilitating over $1.1 billion in transactions. GBank operates with approximately $543 million in assets and provides a range of financial services, positioning itself as a leader in the fintech gaming space.
GBank Financial Holdings Inc. (OTCQX: GBFH) reported a substantial Q2 2021 earnings increase of 222%, amounting to $3.36 million or $0.26 per diluted share, compared to Q1 2021 figures. Year-to-date earnings surged by 199% to $4.40 million. Key highlights include a 62% rise in total net revenues to $10.3 million and a 156% increase in noninterest income. Total assets grew 4.35% to approximately $543 million, while total deposits rose 5.57% to $462 million.