Gateway Mortgage Group Completes Bank Acquisition

May 06, 2019

Gateway Mortgage Group LLC has completed its merger with Farmers Exchange Bank to form Gateway First Bank.

Headquartered in Jenks, Okla., the new entity has $1.2 billion in assets, five banking centers in Northwest Oklahoma, 160 mortgage centers with operations in 40 states and the District of Columbia, and over 1,200 employees. To fund the acquisition and support future growth, Gateway First Bank completed an initial closing of a private placement offering, raising approximately $40 million in equity capital.

“This acquisition and resulting transformation is a very important achievement for Gateway,” said Stephen Curry, Gateway’s CEO. “By combining two successful Oklahoma companies to form Gateway First Bank we have created a robust foundation for future growth. Over the next year we intend to deliver significant enhancements to the customer experience and new products, while maintaining the superior service, great culture and nationally-recognized workplace we’re known for.”

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Phil Hall

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May 06, 2019

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