Gateway Bank of Southwest Florida, which is currently in the organization phase, has received the final regulatory approval from the Federal Reserve, clearing the way for the company to open its first location on May 19.

The company has previously received approvals from the Florida Office of Financial Regulation and the Federal Deposit Insurance Corp.

The bank’s first office will be in the Center Pointe Professional Center at 2033 Main St., Suite 200, in downtown Sarasota.