Gateway Bank is expected to open in May

Gateway Bank of Southwest Florida (www.gatewaybankswfl.com), which is under organization, has received regulatory approval from the Federal Deposit Insurance Corporation (FDIC) of the charter application of the bank.

This is an regulatory step the bank must have in place in order to open. The Sarasota bank is anticipating approval from the Federal Reserve in six to eight weeks.

Gateway Financial Holdings of Florida Inc. recently announced the bank had fully subscribed the initial offering of common shares totaling $15 million. The proceeds of the common share offering will be used to capitalize the proposed Gateway Bank of Southwest Florida, which is expected to open in May 2008 at 2033 Main St.