Gateway Financial, Hampton Roads Bankshares set meeting date for merger vote

By Lisa Kerner

Charlotte, N.C., Nov. 21 - Gateway Financial Holdings, Inc. and Hampton Roads Bankshares, Inc. will ask their respective shareholders to approve a merger of the two companies at separate meetings on Dec. 18.

Shareholders of Gateway Financial will vote at 3 p.m. ET in Virginia Beach, and Hampton Roads shareholders will vote at 2 p.m. ET in Norfolk, Va.

Record date for the Gateway Financial meeting is Nov. 14, according to a 424B3 filing with the Securities and Exchange Commission.

Hampton Roads has set Nov. 12 as the record date for its meeting.

In September, Hampton Roads agreed to acquire Gateway Financial in a transaction valued at $101 million.

The companies' definitive agreement gives Gateway Financial shareholders 0.67 shares of Hampton Roads common stock for each share of Gateway Financial owned, it was reported previously.

Gateway Financial preferred shareholders will receive comparable shares in the combined company.

Hampton Roads, located in Norfolk, Va., is the financial holding company for Bank of Hampton Roads and Shore Bank.

Gateway Financial, located in Virginia Beach, is the financial holding company for Gateway Bank & Trust, a regional community bank.

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