twitter linkedin
facebook google+

Mortgage News

News by Subject
Complete list of specialty news sections.

Purchase Subscription
Subscribe to and get immediate access to all news, statistics and archives.

Mortgage Advertising
Reach mortgage executives, loan originators and other people tied to mortgage industry.

Consumer Mortgage News
Free mortgage news for prospective borrowers.

Mortgage Newsletter
Free e-mail newsletter with the latest headlines from

Mortgage News Reprints
Put entire stories in your online or printed newsletter or publication.

Mortgage Feedget RSS code
Condensed stories free on your Web site or for your RSS reader.

News Archives
Archive of stories by month going back to 1999.

Press Releases
Reports and announcements from

Mortgage Statistics
Data and statistics for real estate finance.

Mortgage Directories
Directories of lenders, branch operators and mortgage service providers.

Mortgage Graphs
Directories of lenders, branch operators and mortgage service providers.

home subscribe advertise reprints e-mail help RSS about us LOG IN

Mortgage News


Mortgage News

HOT Topics









site map
Corporate Mortgage News
M e r g e r s, a c q u i s i t i o n s and private and public offerings. Other corporate activity including executive appointments, bankruptcies name changes.

Gateway Mortgage Group Acquiring Bank

Gateway to become subsidiary of bank after closing

Aug. 8, 2018

By Mortgage Daily staff

A small bank in Oklahoma is being acquired by a mid-sized mortgage banker in the same state. After the deal is done, the lender will become a subsidiary of the financial institution.

An announcement Wednesday from the Stitt Family Trusts, the owners of Gateway Mortgage Group LLC, indicated that it has reached an agreement to acquire more than 85 percent of Farmers Exchange Bank.

Terms of the transaction were not disclosed.

Data from the Federal Deposit Insurance Corp. indicate Farmers Exchange's total assets stood at $347 million as of March 31 and included $37 million in one-to-four-family residential loans.

The Cherokee, Oklahoma, bank was founded in 1935. There are 33 people on the payroll of Farmers Exchange.

Following the closing of the deal, Jenks, Oklahoma-based Gateway will be merged into the bank -- supporting the long-term growth both businesses.

After taking on Gateway's more than 1,200 employees, Farmers Exchange will become "one of the top five [banks] in Oklahoma by employment and net income," according to the media release.

"The acquisition will allow the resulting bank to offer clients a broader range of products while lowering costs for financial services," the statement said. "The resulting bank’s business model will build upon the success of Gateway Mortgage Group, which has become one of the largest privately held mortgage companies in the country."

The announcement comes just weeks after Gateway disclosed that Stephen Curry was named chief executive officer.

After the merger, which is subject to regulatory approval and certain other customary closing conditions, former FDIC chairman Donald Powell plans to joint the bank's board of directors.

Gateway reports a mortgage servicing portfolio of $17 billion. It previously reported 2016 originations of $5 billion.

Gateway Mortgage Group profile

next story

back to current headlines

The Mortgage Graveyard
Failed, closed and a c q u i r e d mortgage-related entities.

Bank news

Logout forgot

SUBSCRIBERS: Edit Subscription | Subscription Help | or call 214.521.1300

Subscribe Contact Us Site Map

Copyright © 2017 Mortgage Daily, D a l l a s
Subsribers Only:

AMC directory

ARM indexes

mortgage company directory

mortgage regulations

net branch directory

p r i c i n g engine directory

wholesale lender directory

More Mortgage News Resources (full site map):

advertising news

appraisal news

bank news

biggest lenders

commercial mortgage news

corporate mortgage news

credit news

FHA news

financial regulation news

foreclosure news

GSE news

jumbo mortgage news

interest rates

loan modification news

loan originator survey

LOS Newsletter


mortgage associations

mortgage-backed securities

mortgage books

mortgage brokers

mortgage compliance

mortgage conferences

mortgage directories

mortgage education

mortgage employment

mortgage employment index

mortgage executives

mortgage fraud

mortgage fraud blog

mortgage fraud local news

Mortgage Fraud Index

Mortgage Graveyard

mortgage insurance news

mortgage lawsuits

mortgage leads

mortgage lender ranking

mortgage licenses

mortgage litigation

Mortgage Litigation Index

Mortgage Market Index

mortgage mergers

mortgage news

mortgage politics

mortgage press releases

mortgage production

mortgage public relations

mortgage rates

mortgage servicing

mortgage statistics

mortgage technology

mortgage video

mortgage Webinars

net branch

net branch directory

nonprime news

origination news

originator tools

real estate news

refinance news

reverse mortgage news

secondary marketing

social media

servicing news

subprime news

wholesale lenders