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Gateway Financial Holdings, Inc. Declares Cash Dividend

Posted on: Wednesday, 23 July 2008, 15:00 CDT

VIRGINIA BEACH, Va., July 23, 2008 (PRIME NEWSWIRE) -- Gateway Financial Holdings, Inc. (Nasdaq:GBTS), the holding company for Gateway Bank & Trust Co., announced that its board of directors declared a quarterly cash dividend of $0.08 per share.

The dividend is payable on August 22, 2008 to shareholders of record at the close of business on August 8, 2008.

About the Company

Gateway Financial Holdings, Inc. is the parent company of Gateway Bank & Trust Co., a regional community bank with a total of thirty-six full-service financial centers -- twenty-one in Virginia: Virginia Beach (7), Richmond (6), Chesapeake (3), Emporia (2), Suffolk, Norfolk, and Charlottesville; and fifteen in North Carolina: Chapel Hill, Elizabeth City (3), Edenton, Kitty Hawk (2), Raleigh (3), Moyock, Nags Head, Plymouth, Roper, and Wilmington. The Bank provides insurance through its Gateway Insurance Services, Inc. subsidiary, brokerage services through its Gateway Investment Services, Inc. subsidiary, mortgage banking services through its Gateway Bank Mortgage, Inc. subsidiary, and title insurance services through its Gateway Title Agency, Inc. subsidiary. The common stock of the Corporation is traded on the Nasdaq Global Select Market under the symbol GBTS. For further information, visit the Corporation's web site at www.gwfh.com.

The Gateway Financial Holdings, Inc. logo is available athttp://www.primenewswire.com/newsroom/prs/?pkgid=5269

This news release was distributed by PrimeNewswire, www.primenewswire.com

CONTACT: Gateway Financial Holdings, Inc. D. Ben Berry, Chairman, President and CEO Ted Salter, Senior EVP and CFO (757) 422-8004

Source: PrimeNewswire

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