MARK HOLMES - GATEWAY FINANCIAL HOLDINGS INC (GBTS) (GBTS): TWST

TWST: Please give us an historical sketch of the company and a picture of things that you are doing at the present time.
Mr. Holmes: We opened Gateway Bank on December 1, 1998. We've grown from a one branch de novo startup to an 11 branch multi-state operation with $397 million in assets with two high income producing subsidiaries. We started with five employees and now have over 150. That's pretty rapid growth.

TWST: What was the inspiration for starting a bank? And how did you manage to grow so rapidly over just six years?
Mr. Holmes: I think it's a reflection of the need for community banking in the markets we serve. Like a lot of areas in the south and throughout the country, there was a wave of the larger banks acquiring the community banks and the same thing has happened in our market. This probably created the need for Gateway Bank. Also, the economics of our area has been very good. Northeastern North Carolina and South Hampton Roads (southeastern Virginia) are good places to be in the banking business.



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