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BRIEF-Xenith Bankshares plans to cease operations of Gateway Bank

Sept 16 Xenith Bankshares Inc :

* Xenith Bankshares, Inc. announces plans to cease operations of its mortgage banking subsidiary, Gateway Bank Mortgage, Inc.

* GBMI will cease taking new mortgage loan applications

* Entered into a definitive asset purchase agreement to sell certain assets of gbmi to a multi-state home lender

* All applications with prospective borrowers that are in process at deal closing will continue to be managed by gbmi toward closing Source text for Eikon: Further company coverage:

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