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Gateway Bank FSB embarking on $6M equity raise

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Gateway Bank FSB embarking on $6M equity raise

Oakland, Calif.-based Gateway Bank F.S.B. is embarking on a $6 million equity raise, according to a Form D filed with the Securities and Exchange Commission on Sept. 22.

The bank indicated that the offering is not expected to last more than one year, and is not intended for use in a merger or acquisition. The first sale had not taken place as of the filing. The minimum investment accepted from any outside investor is $100,000.

The bank had $132.2 million in total assets as of June 30.