Gateway Bank of Central Florida to open "student-run" bank in Osceola Middle School

Posted on: November 21, 2014

Contact: Thomas D. Ingram
Tel: 352-236-6440
Email: tingram@gateway bankcfl.com

GATEWAY BANK of CENTRAL FLORIDA TO OPEN “STUDENT-RUN BANK” IN OSCEOLA MIDDLE SCHOOL

November 19, 2014—(Ocala, Florida)—On Tuesday, December 2nd at 7:20 A.M. a “student-run-bank” will open inside Osceola Middle School located at 526 SW Tuscawilla Avenue in Ocala, Florida.  The bank will take deposits of real money…and all deposits will be handled entirely by appointed students of the school.

Student bank officers are appointed on their academic performance.

The Osceola Middle School Bank will assist students by:

--Teaching them at an early age the value of money

--Offering a banking curriculum to teach bank related concepts i.e. the origin of money, compound and simple interest, the workings of the Federal Reserve Bank, etc.

--Offering “school-to-work” experience by allowing students to operate the bank themselves

“By building a consistent savings pattern starting at a young age, a continued spirit of savings will flourish throughout the student’s lives,” said Tom Ingram, Gateway Bank CEO.

As a sponsor of the Osceola Middle School “student-run-bank” Gateway Bank will match each student’s initial $10 deposit with an additional $10, when the student opens his or her individual minor savings account at Gateway Bank.

Banking on Kids has opened over 350 such “student-run-banks” nationally.  This is the first one in the State of Florida.

For further information please contact Dr. Edward Anhalt at Banking on Kids 414-228-2828 or Mrs. Desiree Johnson at Gateway Bank of Central Florida at 352-236-6548.

About Gateway Bank of Central Florida

Gateway Bank of Central Florida is an independent community bank serving business and personal banking customers in Marion and Alachua counties including the cities of Ocala, Gainesville and Alachua.

The banks hold a full service banking center in each city and the Bank Headquarters is located in Ocala at 1632 East Silver Springs Boulevard.

At 9/30/2014, the bank held Total Assets of $191.7 million and Deposits of $146.5 million.  Also at 9/30/2014, the bank posted a Tier One Capital Ratio of 13.82%

The shareholders and directors of Gateway Bank of Central Florida are primarily residents of the bank market area served by the bank.  The Board of Directors includes Chairman of the Board of Directors Bob Dale, Purvis Gray & Company; Vice Chairman of the Board, Richard Andrews, retired Barnett Bank executive; Gateway Bank of Central Florida, President, Rusty Branson; Gateway Bank of Central Florida, Alachua Market President, Danny Gilliland; Barry Bullard Homes, President Barry Bullard; Gateway Financial Holdings of Florida, Inc., President and Chief Executive Officer, David K. Maholias; McBride Land & Development Company, President, Sandy McBride; First American Title Insurance Company, Area Manager, Kenneth MacKay and Roberts Real Estate, Inc., President, Carolyn K. Roberts.

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