Gateway Bank, F.S.B. Reports First Quarter 2026 Results; Highlighted by 24% Loan Growth Year Over Year
GWBK
Published on 04/28/2026 at 04:00 pm EDT
OAKLAND, Calif., April 28, 2026 (GLOBE NEWSWIRE) -- Gateway Bank, F.S.B. (OTCPK: GWBK) (“the Bank”) today announced a net loss of $336,000 for the first quarter of 2026. This compared to a net loss of $1.23 million in the preceding quarter, and a net loss of $958,000 in the first quarter of 2025. Net interest margin expansion and solid loan growth drove improved operating results compared to both the prior quarter and year-ago period. All financial results are unaudited.
“We are energized with the momentum building across our franchise this quarter as we make measurable progress toward sustained profitability,” said Mukhtar Ali, President and CEO. “Loan growth has been robust, and our strategy of front-loading asset generation in the first and second quarters — including selectively acquiring jumbo mortgage loans at attractive premiums — is tracking to plan. Alongside that growth, we remain equally focused on deposit generation and improving our funding mix.
“On the talent front, we have made meaningful additions to our team,” Ali continued. “Our first two relationship managers in years joined the Walnut Creek team during the first quarter and are already making an impact. Their combined depth of experience in commercial banking and relationship management strengthens our ability to serve clients at the highest level. Additions like these are a direct reflection of the foundation we are building and the kind of talent we intend to keep attracting. We are making deliberate progress toward sustained profitability and remain focused on strengthening our funding base and building the foundation for durable earnings power. We are encouraged by the traction to date and confident in the road ahead.
“One of the highlights of the quarter was the successful completion of our $16.1 million private placement of common shares. This capital raise strengthens our balance sheet and positions us to accelerate our growth initiatives. The Bay Area banking landscape continues to evolve, as ongoing consolidation has created meaningful market gaps that we believe Gateway Bank is well-positioned to fill. We will deploy this capital deliberately, with a clear focus on profitability and long-term franchise value. Our team is committed to that work, and we remain determined to establish Gateway Bank as a leading community bank in the Bay Area,” said Ali.
First Quarter 2026 Highlights:
During the first quarter, the Bank celebrated the grand opening of its relocated Walnut Creek branch at 1801 N. California Blvd, Suite 101. The full-service location sits just a block from the Walnut Creek BART station, across from the business district, and offers parking beneath the building. “This new location in Walnut Creek gives us a better home base in a market we’ve been committed to for years,” said Ali. “The move puts us closer to our clients, and we think that proximity matters. We are excited to deepen the relationships we’ve already built here and continue supporting the region’s growth from this new space.”
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.
Contact:
Mukhtar Ali (510) 813-8582 [email protected]
2026 GlobeNewswire, Inc., source Press Releases