Daytona Beach-based Bank Holding Company Declares Third Consecutive Annual Dividend
January 26, 2017 – Daytona Beach, Florida – Gateway Financial Holdings of Florida, Inc., (GFHI) the bank holding company under which Gateway Bank of Florida, Gateway Bank of Central Florida and Gateway Bank of Southwest Florida operate, announced today the declaration of a third consecutive annual shareholder dividend. The dividend amount, based on the 2016 financial performance of the company is $0.12 per share. In 2016, the company announced an $0.08 per share dividend based on the 2015 financial results.
In making the announcement, GFHI Chairman, Dr. P.T. Fleuchaus stated, “The Gateway banks delivered record financial performance for the twelve months ended 12/31/16. As a result we are able to increase the benefits to our shareholders with an Annual Dividend a full 50% larger than declared for the twelve months ended 12/31/15.”
In November of 2016, the Company announced the signing of a definitive merger agreement with CenterState Banks (NASDAQ: CSFL). The merger is expected to close in the second quarter of 2017.
About Gateway Financial Holdings of Florida, Inc. – Based in Daytona Beach Florida, Gateway Financial Holdings of Florida, Inc. is the multi-charter holding company through which the company operates three independently chartered Florida banks. These include: Gateway Bank of Florida with offices in Daytona Beach, Ormond Beach and Port Orange; Gateway Bank of Central Florida with offices in Ocala, Gainesville and Alachua; and Gateway Bank of Southwest Florida with two Sarasota offices and one Bradenton office.
The banks provide personal and business banking services including depository and transactional services as well as commercial and personal lending. The company also provides wealth management services through Gateway Private | Wealth, strategic alliance established with Raymond James Financial Services.
Further information on Gateway Financial Holdings of Florida and Gateway banks may be obtained by contacting David K. Maholias, President at 386/947-5405. Media inquiries may also be directed to Frank S. Knautz at 941/225-9983.