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JENKS, Okla., August, 21, 2019--Gateway First Bank, one of the largest banks in the State of Oklahoma and one of the top mortgage bank operations in the United States, announced the appointment of industry veteran Stephen Staid as its Chief Servicing Officer.
As Chief of Servicing, Staid will direct a team overseeing customer care, investor accounting, loss mitigation, escrow administration and operations support. He will also spearhead a variety of initiatives, including technology enhancements, operations improvements and business development. Staid will report directly to Gateway CEO Stephen Curry.
“Staid brings unique industry expertise as a former executive with top-tier financial institutions. His wealth of knowledge in mortgage servicing will position Gateway to become one of the nations’ leaders in mortgage servicing businesses in a highly competitive environment,” said Stephen Curry, CEO of Gateway.
Staid’s experience in the mortgage industry is concentrated in servicing. From 1992 to 2007, Staid held a variety of leadership roles in the default and customer service arena. In 2007, Staid relocated to Europe where he was responsible for mortgage servicing operations in countries across the continent. Upon his return to the U.S. three years later, he took a leadership role at Saxon Mortgage, a Morgan Stanley subsidiary, eventually becoming its CEO. In 2012, Staid was recruited into a senior leadership role at Bank of America, overseeing non-default servicing operations and the bank’s mortgage related companies, including the title company, appraisal management company and others. In 2017, Staid was tapped by PHH to lead their $160 billion mortgage servicing business.
“Having been involved in mortgage servicing for most of my professional career I am thrilled to join Gateway to help them expand and grow,” said Staid. “I have been a fan of Gateway from a competitor standpoint and now excited to join a world-class team,”
About Gateway First Bank
Gateway First Bank is one of the largest banks in Oklahoma and offers a full suite of banking services. Founded in 2000 and headquartered in Jenks, Okla., Gateway has over 1,200 employees in five banking centers, over 160 mortgage centers nationwide and currently services over 100,000 residential mortgages. For more information about Gateway, visit https://www.gatewayfirst.com/. Gateway First Bank. Member FDIC, Equal Housing Lender (NMLS 7233)
Follow Gateway on Facebook (https://www.facebook.com/GatewayFirstBank/), LinkedIn (https://www.linkedin.com/company/gatewayfirst/) and Twitter (https://twitter.com/Gateway1st).
Jenks, Okla., August 15, 2019 – Gateway First Bank, one of the largest banks in the State of Oklahoma and one of the largest mortgage bank operations in the United States, announced the appointment of Jeff Schmidt as its Chief Mortgage Operations Officer.
As Chief of Mortgage Operations, Schmidt will manage the underwriting, appraisal, closing/funding, post-closing and construction lending departments. In addition, Schmidt is tasked with the expansion of Gateway’s mortgage call centers based in Dallas and Frisco, TX. He will report directly to Gateway’s CEO Stephen Curry.
““Jeff brings deep expertise in mortgage banking derived from his 35 years of experience in both mortgage and banking. His knowledge will help us build the robust mortgage operation we need to support our growth goals,” said Curry. “Jeff has had a long track record of success at Gateway, and his promotion was well-deserved. This is a critical role as we implement new mortgage banking technology, streamline our operations and improve our recapture.””
Jeff’s career in financial services began as a bank teller. Throughout his roles over the next 20 years, Mr. Schmidt served as Assistant Vice President of Operations, Senior Loan Officer and Regional Vice President over Underwriting, Closing and Post-Closing. Mr. Schmidt’s management experience also includes leadership roles in personal & real estate banking, finance, operations, regulatory compliance, and merger transitions. Schmidt held roles in Texas, Alaska and Washington before returning once again to his roots in Texas. He joined the Gateway team in October 2010 as Regional Vice President, and has been recognized in Mortgage Executive Magazine’s “Top 1% of Mortgage Originators in America” every year since 2011 and as a Top Originator by Scotsman Guide in both 2017 and 2018.
“I have loved being a part of the Gateway family and am very excited about this new role. As the company continues to gain momentum, the Gateway team will absolutely rise to the occasion,” said Schmidt. “Gateway is a proven leader in the mortgage industry and we have experienced a long tradition of success. I am eager in taking on a greater role as Gateway continues to grow and strive for excellence.”
Gateway First Bank is one of the ten largest banks in Oklahoma and offers a full suite of banking services. Founded in 2000 and headquartered in Jenks, Okla., Gateway has over 1,200 employees in five banking centers, over 160 mortgage centers nationwide and currently services $17 billion in residential mortgages.
For more information about Gateway, visit www.gatewayfirst.com Gateway First Bank, Member FDIC, Equal Housing Lender (NMLS 7233).
JENKS, Okla., August 08, 2019 - Gateway First Bank, one of the largest banks in the State of Oklahoma and one of the largest mortgage operations in the United States, achieved record production volume for the month of July, surpassing $767 million in residential mortgage loans.
Last year, Gateway experienced record growth, funding more than 29,000 loans for a total of $6.1 billion in mortgage loans, a ten percent increase from 2017. This year, Gateway has already originated more than $3.8 billion in mortgage loans through July. The company now expects annual loan volume in 2019 to exceed $7 billion, another record year.
“Gateway has strong momentum, outperforming our competition and exceeding market averages because of the quality of our team members, their commitment to hard work for our clients, our on time every time promise and our dedication to service excellence,” said Stephen Curry, Chairman and CEO at Gateway. “We expect 2019 to be another record-breaking year and are developing plans to achieve $10 billion of production by 2021.”
Gateway First Bank is one of the largest banks in Oklahoma and offers a full suite of banking services. Founded in 2000 and headquartered in Jenks, Okla., Gateway has over 1,200 employees in five banking centers, over 160 mortgage centers nationwide and currently services $16 billion in residential mortgages. For more information about Gateway, visit www.gatewayfirst.com Gateway First Bank, Member FDIC, Equal Housing Lender (NMLS 7233).
Gateway First Bank
Jenks, Okla., May 6, 2019 – Gateway Mortgage Group, LLC, a full-service mortgage company licensed in 40 states and the District of Columbia, announced it has completed its merger with Farmers Exchange Bank to form Gateway First Bank, an Oklahoma banking corporation.
Headquartered in Jenks, Oklahoma, Gateway First Bank 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. It is one of the ten largest banks in the State of Oklahoma by asset size and one of the largest bank mortgage operations in the United States.
“This acquisition and resulting transformation is a very important achievement for Gateway,” said Stephen Curry, Gateway’s Chief Executive Officer. “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.”
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. Shapiro Bieging Barber Otteson LLP served as legal counsel to Gateway for the acquisition and the private placement. Sandler O’Neill + Partners, L.P. served as placement agent for the private placement. Manatt, Phelps & Phillips, LLP served as legal counsel to the placement agent. Fenimore, Kay, Harrison & Ford, LLP served as legal counsel to Farmers Exchange Bank in the acquisition.
This press release is for informational purposes only and will not constitute an offer to sell or the solicitation of an offer to buy, nor will there be any sale of Gateway securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful under the securities laws of such state or jurisdiction.
Gateway First Bank is one of the ten largest banks in Oklahoma and offers a full suite of banking services. Founded in 2000 and headquartered in Jenks, Oklahoma, Gateway has over 1,200 employees in five banking centers, over 160 mortgage centers nationwide and currently services $17 billion in residential mortgages. For more information about Gateway, visit www.GatewayLoan.com. Gateway First Bank. Member FDIC, Equal Housing Lender (NMLS 7233).
Follow Gateway on Facebook (facebook.com/GatewayMortgageGroup), LinkedIn (linkedin.com/company/gateway-mortgage-group) and Twitter (twitter.com/gatewayloan).
Forward Looking Statements
Certain statements contained in this press release that are not statements of historical fact constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are subject to risks and uncertainties and are made pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are typically identified by the use in the statements of words such as “aim”, “anticipate”, “estimate” or “expect” and similar words and phrases indicating that the statement addresses some future result, occurrence, plan or objective. The forward-looking statements that Gateway First Bank makes are based on our current expectations and assumptions regarding Gateway First Bank’s business, the economy, and other future conditions. Because forward-looking statements relate to future results and occurrences, they are subject to inherent uncertainties and risks that are difficult to predict. Many possible events or factors could affect Gateway First Bank’s future financial results and performance and could cause those results or performance to differ materially from those expressed in the forward-looking statements. Such risks and uncertainties include, among others: the possibility that the anticipated benefits of the merger are not realized when expected or at all, including as a result of the impact of, or problems arising from, the integration of the two companies or as a result of the strength of the economy and competitive factors in the areas where Farmers Exchange Bank and Gateway First Bank do business, the possibility that the merger may be more expensive to complete than anticipated, including as a result of unexpected factors or events, diversion of management’s attention from ongoing business operations and opportunities, potential adverse reactions or changes to business or employee relationships, including those resulting from the completion of the merger and Gateway First Bank’s ability to complete the integration of Farmers Exchange Bancorp successfully. Gateway First Bank disclaims any obligation to update such factors or to publicly announce the results of any revisions to any of the forward-looking statements included herein to reflect future events or developments.
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