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Issue: 872 Date: 5/10/2007
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Royal Banks of Missouri acquires Gateway Processing, Inc. d/b/a Elizabeth Fay Mortgage.
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Royal Banks of Missouri announced the acquisition of Gateway Processing Services, Inc. d/b/a Elizabeth Fay Mortgage (EFM). The transaction was completed on April 30, 2007. EFM will be operated as a wholly owned subsidiary of the bank. EFM is a well known mortgage lending institution that is located in West St. Louis County.
Stephen A. Baden, President and CEO of Royal Banks of Missouri, said "EFM will provide us with an expanded array of home loan products for our current clients and future prospects. Beth Fay will continue as company President. Beth brings with her experience, a great deal of knowledge and well rounded mortgage lending staff that will greatly expand our mortgage lending opportunities".
Royal Banks of Missouri is the banking subsidiary of Royal Bancshares, Inc. (RBI). RBI is a $397,000,000 financial services company which operates 7 retail locations throughout the St. Louis Metropolitan area.
For more information please contact Mary Rybicki at 314-212-1659.
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