EXHIBIT 99.2

                         [GULF WEST BANKS LOGO OMITTED]

                                NEWS ANNOUNCEMENT

CONTACT:
Gordon W. Campbell, Chairman and President
                      or
Barry K. Miller, EVP & Chief Financial Officer
(727) 894-5696; fax (727) 823-7675

FOR IMMEDIATE RELEASE
July 11, 2002



             GULF WEST BANKS, INC., PARENT OF MERCANTILE BANK,
                       DECLARES SPECIAL CASH DIVIDEND


St.   Petersburg,   FL--The  Board  of  Directors  of  Gulf  West  Banks,  Inc.,
(Nasdaq:GWBK),  at a special  meeting held July 11,  2002,  declared an $.08 per
share cash dividend,  payable August 1, 2002 to  shareholders  of record at July
22, 2002.



                               * * * * * * *

Gulf West Banks, Inc. is a $525 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