OAKLAND, Calif., Feb. 03, 2026 (GLOBE NEWSWIRE) -- Gateway Bank, F.S.B. (OTCPK: GWBK) (“the Bank”) today announced the successful completion of a private placement of $16.1 million of the Bank’s common stock to certain institutional and accredited investors. Proceeds will be deployed to strengthen regulatory capital ratios while also supporting both organic growth and strategic expansion into new markets across the Bay Area.

“This capital raise is a testament to the strength of our bank and the dedication of our Board of Directors, management and team members,” stated James Keefe, Chairman of the Board. "Combined with Mukhtar Ali's leadership as our new President and CEO, it marks a pivotal moment for our organization. We are well positioned to deepen our customer relationships, expand into additional Bay Area communities, and drive shareholder returns."

Mukhtar Ali, President and CEO added, “The completion of this capital raise positions Gateway Bank to accelerate our growth initiatives while staying anchored to what matters most — our customers. Continued consolidation in the Bay Area banking space has created meaningful market dislocations, opening gaps that we are uniquely positioned to capture. We see a compelling opportunity ahead, and strategic deployment of these funds will let us move decisively into those gaps, driving sustainable value creation and stronger financial performance over the coming years. We're committed to improving our profitability, and our talented team is determined to position Gateway Bank into a leading community bank in the Bay Area."

Janney Montgomery Scott LLC acted as financial advisor and Godfrey & Kahn, S.C. acted as the Bank’s legal counsel in the private placement.

About Gateway Bank, F.S.B. Gateway Bank is a Federally-chartered savings bank headquartered in Oakland, California and began operations on June 8, 1990. The Bank currently operates out of its offices located in Oakland’s Chinatown and Walnut Creek, and offers banking services to individuals and businesses in the San Francisco Bay Area.

Contacts

Mukhtar Ali
(510) 813-8582
Mukhtar.Ali@gatewayfsb.com