Gulf West Banks, Inc., Parent of Mercantile Bank, Declares an Annual Cash Dividend

Apr 19, 2001, 01:00 ET from Gulf West Banks, Inc.

    ST. PETERSBURG, Fla., April 19 /PRNewswire/ -- The Board of Directors of
 Gulf West Banks, Inc. (Nasdaq: GWBK), at a special meeting held April 19,
 2001, declared a $.10 per share annual cash dividend, payable May 15, 2001, to
 shareholders of record at April 30, 2001.
     The dividend is the first cash dividend declared by Gulf West since its
 stock was listed on Nasdaq in 1998.  Gordon W. Campbell, the company's
 Chairman and President, commenting on the board's action, said, "As the
 trading in our stock has increased, our shareholder base has become both
 larger and more diverse.  We believe that an increasing number of investors
 prefer financial stocks to pay dividends as well as offer the opportunity for
 long-term appreciation.  Our strong capital position and solid earnings growth
 allow us to take this positive action."
     It will be Gulf West's position going forward to consider regular annual
 cash and stock dividends when and as the company's financial position allows
 it.
     Gulf West Banks, Inc. is a $466 million asset financial holding company
 based in St. Petersburg, Florida.  Gulf West owns 100 percent of Mercantile
 Bank, a state chartered, commercial bank founded in 1986.  Mercantile
 currently serves the Pinellas, Hillsborough and Pasco County communities of
 the Tampa Bay area with 15 banking offices. www.bankmercantile.com
     This press release contains certain forward-looking statements which
 represent Gulf West's expectations or beliefs, including, but not limited to,
 statements concerning the banking industry and Gulf West's operations,
 performance, financial condition, and growth.  For this purpose, any
 statements contained in this Report that are not statements of historical fact
 may be deemed to be forward-looking statements.  These statements by their
 nature involve substantial risks and uncertainties, certain of which are
 beyond Gulf West's control, and actual results may differ materially depending
 on a variety of important factors, including competition, general economic
 conditions, potential changes in interest rates, and changes in the value of
 real estate securing loans made by Mercantile, among other things.  Gulf West
 makes such forward-looking statements in good faith pursuant to the "safe
 harbor" provisions of the Private Securities Litigation Reform Act of 1995.
 
 

SOURCE Gulf West Banks, Inc.
    ST. PETERSBURG, Fla., April 19 /PRNewswire/ -- The Board of Directors of
 Gulf West Banks, Inc. (Nasdaq: GWBK), at a special meeting held April 19,
 2001, declared a $.10 per share annual cash dividend, payable May 15, 2001, to
 shareholders of record at April 30, 2001.
     The dividend is the first cash dividend declared by Gulf West since its
 stock was listed on Nasdaq in 1998.  Gordon W. Campbell, the company's
 Chairman and President, commenting on the board's action, said, "As the
 trading in our stock has increased, our shareholder base has become both
 larger and more diverse.  We believe that an increasing number of investors
 prefer financial stocks to pay dividends as well as offer the opportunity for
 long-term appreciation.  Our strong capital position and solid earnings growth
 allow us to take this positive action."
     It will be Gulf West's position going forward to consider regular annual
 cash and stock dividends when and as the company's financial position allows
 it.
     Gulf West Banks, Inc. is a $466 million asset financial holding company
 based in St. Petersburg, Florida.  Gulf West owns 100 percent of Mercantile
 Bank, a state chartered, commercial bank founded in 1986.  Mercantile
 currently serves the Pinellas, Hillsborough and Pasco County communities of
 the Tampa Bay area with 15 banking offices. www.bankmercantile.com
     This press release contains certain forward-looking statements which
 represent Gulf West's expectations or beliefs, including, but not limited to,
 statements concerning the banking industry and Gulf West's operations,
 performance, financial condition, and growth.  For this purpose, any
 statements contained in this Report that are not statements of historical fact
 may be deemed to be forward-looking statements.  These statements by their
 nature involve substantial risks and uncertainties, certain of which are
 beyond Gulf West's control, and actual results may differ materially depending
 on a variety of important factors, including competition, general economic
 conditions, potential changes in interest rates, and changes in the value of
 real estate securing loans made by Mercantile, among other things.  Gulf West
 makes such forward-looking statements in good faith pursuant to the "safe
 harbor" provisions of the Private Securities Litigation Reform Act of 1995.
 
 SOURCE  Gulf West Banks, Inc.