Gateway Shareholders Approve Merger

Business Wire, Sept 23, 2002

Business Editors

FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--Sept. 23, 2002

John S. Chaperon, President of Gateway American Bancshares, Inc. (Nasdaq:GWAM), parent of Gateway American Bank of Florida today made the following announcement:

Today the shareholders of Gateway American Bancshares, Inc. have approved the previously announced merger with PCB Bancorp, Inc. As all required regulatory approvals have been received, Gateway American Bancshares, Inc., will merge into PCB Bancorp, Inc. effective October 1, 2002. On that date, Gateway American Bank of Florida will change its name to Premier Community Bank of South Florida with Richard A. Kuci, Jr. as its President and CEO.

With the acquisition of Gateway American Bank, P.C.B. will become a four-bank holding company with over $625 million in assets with headquarters in Clearwater, Florida. P.C.B. is the holding company of Premier Community Bank of Florida, Premier Community Bank, Premier Community Bank of Southwest Florida and Premier Community Bank of South Florida. P.C.B. will have 16 banking locations in Pinellas, Sarasota, Charlotte, Lee, Broward and Miami-Dade counties.

This release includes forward-looking information which is subject to the "safe harbor" created by Section 27A of the Securities Act of 1993, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements (which include the Company's plans, beliefs and goals, refer to estimates or use similar terms) involve certain risks and uncertainties that could cause actual results to defer materially from those in the forward-looking statements. Such risks and uncertainties include, but are not limited to the following factors: competitive pressure in the banking industry; changes in the interest rate environment; the declining health of the economy, either nationally or regionally; the deterioration of credit quality, which could cause an increase in the provision for possible loan and lease losses; changes in the regulatory environment; changes in business conditions, particularly in South Florida real estate; certain operational risks involving data processing systems or fraud; volatility or rate sensitive deposits; asset/liability matching risks and liquidity risks and changes in securities markets. The company undertakes no obligation to revise or publicly release the results of any revision to these forward-looking statements.