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GBank Financial Holdings Inc. Announces Bank of George Ranks #6 in S&P Global Market Intelligence's 2021 Ranking of the Best-Performing U.S. Community Banks Under $3 Billion in Assets
LAS VEGAS, March 24, 2022 /PRNewswire/ -- GBank Financial Holdings Inc. ("GBank" or the "Company") (OTCQX: GBFH), the parent company for Bank of George (the
About this update from Gbank Financial Holdings Inc.
[{"type":"text","content":"LAS VEGAS, March 24, 2022 /PRNewswire/ -- GBank Financial Holdings Inc. (\"GBank\" or the \"Company\") (OTCQX: GBFH), the parent company for Bank of George (the \"Bank\"), today announced an industry report ranking them the 6th best-performing U.S. community bank under $3 billion in assets.\nS&P Global Market Intelligence just released its ranking of the Best-Performing Community Banks and Credit Unions for 2021. Top-performing community banks were ranked in two categories: banks $3B - $10B in assets and banks less than $3B in assets. The full press release can be found here.\n\"The Bank's 6th place position puts us in the top 100 for the sixth consecutive year. Out of 4,015 banks under $3B in assets, this places us firmly in the top 1% of our peer bank group, a testament to our continued spirit of innovation and dedication to providing the best solutions for our customers.\" stated T. Ryan Sullivan, President/CEO of Bank of George. \nS&P Global Market Intelligence is a division of S&P Global (NYSE: SPGI). According to its website, it is a world-leading provider of financial information services, and its data and analytics uncover insights from an unrivaled breadth and depth that won't be found anywhere else: from comprehensive fundamentals to sector-specific performance metrics, M&A to credit risk, plus insightful news, forecasts, and analytics.\nTo compile the ranking, S&P Global Market Intelligence calculated scores for each company based on six metrics: pre-tax return on tangible common equity; efficiency ratio; operating revenue growth; net charge-offs to average loans and leases net of Payment Protection Program (\"PPP\") loans ratio; nonperforming assets and loans 90 days or more past due as a percentage of total assets, net of PPP loans; and leverage ratio. Each company's standard deviation from the industry mean was calculated for every raking metric, weighted, then combined to derive a performance score. To help normalize the data and mitigate the impact of outliers, caps and floors were applied for each metric.\nThe Company\nGBank 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 operate...