GBank Financial Holdings Inc. announced a private placement of 3.875% fixed to floating rate subordinated notes due 2031 for aggregate gross proceeds of $20 million on December 14, 2021. The transaction included participation from 6 investors. The notes initially bear an 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 part, on or after December 15, 2026. The company issued securities pursuant to exemption provided under Regulation D. The minimum investment accepted from any outside investor is $100,000.