GBank Financial Holdings Inc. announced the completion of a private placement on December 14, 2021, of $20.0 million in aggregate principal amount of 3.875% Fixed-to-Floating Rate Subordinated Notes due 2031 (the "Notes"). The Company intends to utilize the net proceeds for general corporate purposes. The Notes were structured to qualify as Tier 2 capital for GBank for regulatory capital purposes. The Notes initially bear a fixed interest rate of 3.875% until December 15, 2026, after which time and until maturity on December 15, 2031, the interest rate will reset quarterly to an annual floating rate equal to the Three-Month Term Secured Overnight Financing Rate ("SOFR") plus 289 basis points. The Notes are redeemable by the Company at its option, in whole or in part, on or after December 15, 2026. Any redemption will be at a redemption price equal to 100% of the principal amount of the Notes being redeemed, plus accrued and unpaid interest.