Gate City Bank Mortgage Rates, Fees & Info

Fargo, ND

LEI: 549300TQVOMKNKFOH392

Tax ID: 45-0138060

5 stars - out of 5 stars, based on 78 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Gate City Bank is a small bank specializing in Home Purchase and Refi loans. Gate City Bank has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) They have a low ratio of USDA loans. Their top markets include Fargo, Bismarck, Grand Forks, Minot, and Fergus Falls among others. Gate City Bank has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Gate City Bank is typically an average fee lendor.


Originations

6,049

Origination Dollar Volume (All Markets)

$1,276,195,000

Employee count

675 Show all (18) awards

Relative Rate

Gate City Bank's average 30 year fixed rate mortgage of loans were 2.82%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of -0.33%.

Relative Fees

Gate City Bank's average total fees for a 30 year fixed rate mortgage are $5,105.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
FARGO, ND-MN (FHA|USDA|VA) 1,996 $432,600,000 $216,733 $4,273 2.91%
BISMARCK, ND (FHA|USDA|VA) 1,275 $290,875,000 $228,137 $4,607 2.88%
Outside of Metro Areas 596 $111,290,000 $186,728 $4,290 2.87%
GRAND FORKS, ND-MN (FHA|USDA|VA) 561 $105,495,000 $188,048 $4,043 2.94%
Minot, ND (FHA|USDA|VA) 489 $99,455,000 $203,384 $4,489 2.83%
Fergus Falls, MN (FHA|USDA|VA) 265 $55,735,000 $210,321 $4,363 2.95%
Williston, ND (FHA|USDA|VA) 164 $41,050,000 $250,305 $5,816 2.88%
Dickinson, ND (FHA|USDA|VA) 146 $27,360,000 $187,397 $3,564 3.06%
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 68 $19,340,000 $284,412 $5,421 2.88%
Wahpeton, ND-MN (FHA|USDA|VA) 116 $18,840,000 $162,414 $3,890 2.91%
Alexandria, MN (FHA|USDA|VA) 92 $17,550,000 $190,761 $4,116 2.84%
Jamestown, ND (FHA|USDA|VA) 113 $16,655,000 $147,389 $3,721 2.85%
ST. CLOUD, MN (FHA|USDA|VA) 51 $9,285,000 $182,059 $3,917 2.90%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 20 $4,000,000 $200,000 $4,382 2.39%
ROCHESTER, MN (FHA|USDA|VA) 6 $2,340,000 $390,000 $5,264 2.89%
Bozeman, MT (FHA|USDA|VA) 4 $1,880,000 $470,000 $7,775 2.81%
DULUTH, MN-WI (FHA|USDA|VA) 5 $1,665,000 $333,000 $6,236 3.75%
Brainerd, MN (FHA|USDA|VA) 6 $1,550,000 $258,333 $4,666 2.71%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 3 $1,165,000 $388,333 $6,701 4.37%
SIOUX FALLS, SD (FHA|USDA|VA) 3 $985,000 $328,333 $5,485 2.92%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 2 $980,000 $490,000 $6,540 2.69%
Bemidji, MN (FHA|USDA|VA) 5 $755,000 $151,000 $6,132 2.88%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 2 $740,000 $370,000 $6,681 2.25%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 3 $735,000 $245,000 $5,724 2.92%
Faribault-Northfield, MN (FHA|USDA|VA) 1 $715,000 $715,000 $3,011 2.25%
GREELEY, CO (FHA|USDA|VA) 2 $710,000 $355,000 $5,802 2.94%
BILLINGS, MT (FHA|USDA|VA) 2 $620,000 $310,000 $5,699 2.50%
LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 2 $620,000 $310,000 $6,220 2.81%
TUCSON, AZ (FHA|USDA|VA) 2 $500,000 $250,000 $5,587 2.44%
LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) 2 $480,000 $240,000 $4,331 2.69%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 2 $450,000 $225,000 $5,919 2.88%
RAPID CITY, SD (FHA|USDA|VA) 3 $435,000 $145,000 $3,448 2.71%
SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) 2 $420,000 $210,000 $6,875 2.94%
MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 1 $415,000 $415,000 $2,910 3.00%
Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 2 $410,000 $205,000 $5,585 3.41%
OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) 1 $405,000 $405,000 $5,626 2.88%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 1 $405,000 $405,000 $2,539 2.75%
Brookings, SD (FHA|USDA|VA) 2 $390,000 $195,000 $4,636 2.31%
Pullman, WA (FHA|USDA|VA) 1 $385,000 $385,000 $7,253 2.88%
Willmar, MN (FHA|USDA|VA) 1 $315,000 $315,000 $6,361 2.75%
COLUMBIA, MO (FHA|USDA|VA) 1 $315,000 $315,000 $4,709 2.00%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 1 $295,000 $295,000 $6,081 2.00%
BOULDER, CO (FHA|USDA|VA) 1 $285,000 $285,000 $5,700 3.00%
THE VILLAGES, FL (FHA|USDA|VA) 1 $265,000 $265,000 $5,321 2.75%
Carlsbad-Artesia, NM (FHA|USDA|VA) 1 $255,000 $255,000 $4,866 2.63%
FORT COLLINS, CO (FHA|USDA|VA) 1 $245,000 $245,000 $5,335 2.38%
Owatonna, MN (FHA|USDA|VA) 1 $245,000 $245,000 $5,388 2.75%
Richmond, IN (FHA|USDA|VA) 1 $235,000 $235,000 $5,118 2.25%
PANAMA CITY, FL (FHA|USDA|VA) 1 $225,000 $225,000 $5,736 2.50%
LUBBOCK, TX (FHA|USDA|VA) 1 $225,000 $225,000 $4,237 2.88%
Watertown, SD (FHA|USDA|VA) 1 $225,000 $225,000 $4,759 2.63%
Cedar City, UT (FHA|USDA|VA) 1 $215,000 $215,000 $4,708 3.00%
Torrington, CT (FHA|USDA|VA) 1 $215,000 $215,000 $4,560 2.50%
Spearfish, SD (FHA|USDA|VA) 1 $205,000 $205,000 $4,382 2.00%
Gillette, WY (FHA|USDA|VA) 1 $205,000 $205,000 $4,154 2.88%
RENO, NV (FHA|USDA|VA) 1 $205,000 $205,000 $0 3.00%
Butte-Silver Bow, MT (FHA|USDA|VA) 1 $205,000 $205,000 $4,824 2.88%
Houghton, MI (FHA|USDA|VA) 1 $205,000 $205,000 $4,779 2.75%
Hilo, HI (FHA|USDA|VA) 1 $195,000 $195,000 $0 3.88%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 1 $195,000 $195,000 $5,635 2.88%
WARNER ROBINS, GA (FHA|USDA|VA) 1 $185,000 $185,000 $4,670 3.00%
Grand Rapids, MN (FHA|USDA|VA) 1 $185,000 $185,000 $4,186 2.63%
Hutchinson, MN (FHA|USDA|VA) 1 $175,000 $175,000 $4,429 2.50%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 1 $165,000 $165,000 $3,899 2.13%
Albert Lea, MN (FHA|USDA|VA) 1 $165,000 $165,000 $3,451 2.13%
Columbus, MS (FHA|USDA|VA) 1 $165,000 $165,000 $4,598 2.75%
GREAT FALLS, MT (FHA|USDA|VA) 1 $145,000 $145,000 $3,120 2.38%
Tupelo, MS (FHA|USDA|VA) 1 $95,000 $95,000 $2,530 2.50%
Mason City, IA (FHA|USDA|VA) 1 $95,000 $95,000 $3,569 2.88%
Laurel, MS (FHA|USDA|VA) 1 $95,000 $95,000 $3,603 2.75%
WACO, TX (FHA|USDA|VA) 1 $65,000 $65,000 $988 5.49%

Gate City Bank's top markets include Fargo, Bismarck, Grand Forks, Minot, and Fergus Falls among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 5,599 $1,174,365,000 $209,745 $4,167 2.92%
FHA 207 $41,215,000 $199,106 $7,228 2.89%
VA 199 $53,375,000 $268,216 $6,392 2.38%
USDA 44 $7,240,000 $164,545 $5,388 2.86%

For the 2021 period, Gate City Bank's most frequently originated loan type of loans were Conventional, with 5,599 originations. Their 2nd most popular type is FHA, with 207 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 2,258 $599,620,000 $265,554 $5,291 2.88%
Refi 1,941 $379,105,000 $195,314 $3,855 2.70%
Cash Out Refi 1,078 $243,100,000 $225,510 $4,819 2.58%
Home Improvement 403 $24,155,000 $59,938 $341 3.91%
Other 369 $30,215,000 $81,883 $1,325 3.84%

For the 2021, Gate City Bank's most frequently cited loan purpose of loans were Home Purchase, with 2,258 originations. The 2nd most popular reason of loans were Refi, with 1,941 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 3,280 $825,720,000 $251,744 $5,105 2.82%
15 Year 1,184 $198,280,000 $167,466 $3,317 2.63%
10 Year 808 $78,190,000 $96,770 $1,933 3.51%
20 Year 438 $86,950,000 $198,516 $4,088 2.80%
5 Year 245 $52,995,000 $216,306 $127 3.25%
30+ year 47 $25,855,000 $550,106 $8,720 2.97%
Other 44 $7,990,000 $181,591 $3,146 3.11%
1 Year 3 $215,000 $71,667 $0 4.47%

For the 2021, Gate City Bank's most frequently cited loan length of loans were 30 Year, with 3,280 originations. The 2nd most popular length of loans were 15 Year, with 1,184 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$2k-3k 1,675 $306,565,000 $183,024
$3k-4k 1,603 $467,085,000 $291,382
$<1k 1,041 $142,755,000 $137,133
$1k-2k 629 $71,645,000 $113,903
$5k+ 341 $178,005,000 $522,009

$5,105 of loans were Gate City Bank's average total fees, while their most frequently occuring range of origination fees were in the $2k-3k bucket, with 1,675 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 2,660 $677,800,000 $254,812
<2.5% 1,809 $389,095,000 $215,088
3-4% 1,333 $184,595,000 $138,481
4-5% 154 $17,240,000 $111,948
5-6% 76 $5,910,000 $77,763
6-7% 15 $1,345,000 $89,667

During 2021, Gate City Bank's average interest rate of loans were 2.82%, while their most frequently originated rate bucket of loans were 2.5-3%, with 2,660 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 2,325 $632,645,000 $272,105 $5,369 2.69%
$100k-200k 2,060 $316,080,000 $153,437 $3,660 2.77%
$100,000 or less 1,226 $68,750,000 $56,077 $1,295 3.55%
$400k-600k 350 $165,570,000 $473,057 $7,420 2.68%
$600k-1MM 71 $51,235,000 $721,620 $9,983 2.88%
$1MM+ 17 $41,915,000 $2,465,588 $14,916 3.33%

2021 saw Gate City Bank place emphasis on $200k-400k loans with 2,325 originations, totaling $632,645,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 1,597 $353,915,000 $221,612 $4,653 2.91%
$50k-75k 1,246 $210,230,000 $168,724 $4,050 2.83%
$75k-100k 1,105 $218,035,000 $197,317 $4,372 2.80%
$150k-250k 810 $211,720,000 $261,383 $5,094 3.03%
$50k or less 691 $90,805,000 $131,411 $3,505 2.86%
$250k+ 230 $85,060,000 $369,826 $6,313 3.12%

Gate City Bank lent most frequently to those with incomes in the $100k-150k range, with 1,597 originations. The second most popular income band? $50k-75k, with 1,246 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 1,610 $319,260,000 $198,298 $4,111 2.84%
30-36% 1,195 $244,265,000 $204,406 $4,381 2.87%
<20% 588 $111,440,000 $189,524 $3,722 2.84%
36% 236 $49,780,000 $210,932 $4,397 2.95%
42% 215 $46,435,000 $215,977 $4,186 3.06%
40% 204 $45,270,000 $221,912 $4,683 2.95%
37% 197 $45,275,000 $229,822 $4,658 2.92%
41% 189 $38,405,000 $203,201 $4,273 2.90%
38% 185 $39,565,000 $213,865 $4,383 2.96%
39% 183 $38,975,000 $212,978 $4,456 2.90%
44% 179 $40,575,000 $226,676 $5,266 2.83%
43% 169 $43,365,000 $256,598 $5,055 2.79%
45% 108 $25,600,000 $237,037 $5,454 2.79%
49% 107 $23,995,000 $224,252 $5,726 2.97%
46% 100 $21,710,000 $217,100 $5,523 2.77%
47% 95 $22,395,000 $235,737 $5,020 2.71%
48% 93 $21,085,000 $226,720 $5,293 2.86%
50-60% 18 $3,960,000 $220,000 $7,132 3.01%
>60% 13 $3,075,000 $236,538 $4,624 2.85%

Gate City Bank lent most frequently to those with DTI ratios of 20-30%, with 1,610 originations. The next most common DTI ratio? 30-36%, with 1,195 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 5,295 $1,101,185,000 $207,967 $4,381 2.87%
Not provided 415 $85,295,000 $205,530 $4,222 2.98%
Not applicable 201 $61,045,000 $303,706 $0 3.48%
American Indian 52 $10,330,000 $198,654 $4,517 2.81%
Black 41 $8,845,000 $215,732 $5,375 3.03%
Asian 37 $8,145,000 $220,135 $4,904 3.01%
Other Asian 3 $695,000 $231,667 $4,621 2.33%
Native Hawaiian 4 $640,000 $160,000 $5,203 3.43%
Asian Indian 1 $15,000 $15,000 $507 2.25%

Approval Rates

Total approvals of all applications
95.80%

Gate City Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

Pick Rate

Approvals leading to origination
85.73%

Gate City Bank has an average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 6,049 $1,276,195,000 $210,976

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
6,049 $1,276,195,000 $210,976

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 515 $52,005,000 $100,981 $1,952 3.26%
40-60% 743 $127,115,000 $171,083 $3,613 2.59%
60-80% 2,074 $528,530,000 $254,836 $4,812 2.73%
80-100% 2,026 $522,230,000 $257,764 $5,347 2.79%
Over 100% 14 $3,930,000 $280,714 $11,629 2.51%
Under 20% 613 $27,455,000 $44,788 $277 3.94%

Bank Details

Branches

Bank Name Branch Branch Type Deposits (000's)
Gate City Bank 720 Main Street Carrington, ND 58421 Full Service B&M $40,660
Gate City Bank 1001 4th St Se Saint Cloud, MN 56304 Full Service Retail $914
Gate City Bank 802 Dakota Ave Wahpeton, ND 58074 Full Service B&M $51,313
Gate City Bank 309 2nd Ave Sw Jamestown, ND 58401 Full Service B&M $101,154
Gate City Bank 1501 S. University Drive Fargo, ND 58103 Full Service B&M $30,243
Gate City Bank 1532 32nd Avenue South Fargo, ND 58103 Full Service Retail $6,371
Gate City Bank 1630 Broadway St Alexandria, MN 56308 Full Service B&M $27,175
Gate City Bank 1725 Golf Drive Bismarck, ND 58503 Full Service B&M $67,278
Gate City Bank 1761 3rd Avenue West Dickinson, ND 58601 Full Service Retail $498
Gate City Bank 201 Briggs Ave. S. Park River, ND 58270 Full Service B&M $25,599
Gate City Bank 204 Sims St. Dickinson, ND 58602 Full Service B&M $201,799
Gate City Bank 2050 Sheyenne Street West Fargo, ND 58078 Full Service Retail $689
Gate City Bank 2501 Broadway Fargo, ND 58102 Full Service B&M $56,696
Gate City Bank 2710 State Street Bismarck, ND 58503 Full Service B&M $134,990
Gate City Bank 2850 24th Ave. S. Grand Forks, ND 58206 Full Service B&M $115,850
Gate City Bank 2929 20th Street South Moorhead, MN 56560 Full Service B&M $37,440
Gate City Bank 304 East Rosser Avenue Bismarck, ND 58502 Full Service B&M $235,287
Gate City Bank 305 8th Street South Moorhead, MN 56560 Full Service B&M $78,157
Gate City Bank 837 31st Ave E West Fargo, ND 58078 Full Service B&M $39,938
Gate City Bank 924 31st Ave Sw, Dakota Square Minot, ND 58702 Full Service B&M $87,891
Gate City Bank 950 40th Ave S Moorhead, MN 56560 Full Service Retail $5,168
Gate City Bank 3100 25 St S Fargo, ND 58103 Full Service B&M $103,016
Gate City Bank 3204 Yorktown Drive Bismarck, ND 58503 Full Service B&M $16,276
Gate City Bank 3205 South Washington Grand Forks, ND 58201 Full Service B&M $105,736
Gate City Bank 3800 51st Ave S Fargo, ND 58104 Full Service B&M $17,829
Gate City Bank 3909 13th Ave. S. Fargo, ND 58103 Full Service B&M $164,740
Gate City Bank 405 East Main Street Mandan, ND 58554 Full Service B&M $56,240
Gate City Bank 4101 13th Ave S Fargo, ND 58103 Full Service Retail $6,565
Gate City Bank 4151 45th Street S Fargo, ND 58104 Full Service Retail $24,838
Gate City Bank 422 Main Street Williston, ND 58801 Full Service B&M $149,132
Gate City Bank 428 West Lincoln Ave Fergus Falls, MN 56537 Full Service B&M $27,145
Gate City Bank 500 2nd Ave N Fargo, ND 58102 Full Service Cyber Office $79,035
Gate City Bank 500 Second Avenue North Fargo, ND 58102 Full Service B&M $155,341
Gate City Bank 501 Demers Avenue Grand Forks, ND 58201 Full Service B&M $49,766
Gate City Bank 601 Fourth Street Devils Lake, ND 58301 Full Service B&M $46,937
Gate City Bank 101 11th St. S Moorhead, MN 56560 Full Service Retail $1,068
Gate City Bank 101 East Main St Mohall, ND 58761 Full Service B&M $11,147
Gate City Bank 1017 S. Broadway Minot, ND 58701 Full Service B&M $140,689
Gate City Bank 11 1st St Se Mayville, ND 58257 Full Service B&M $15,593
Gate City Bank 110 1 St S Sauk Rapids, MN 56379 Full Service Retail $1,652
Gate City Bank 111 South Main St Hettinger, ND 58639 Full Service B&M $13,310
Gate City Bank 1119 9th Street East West Fargo, ND 58078 Full Service B&M $68,355
Gate City Bank 113 Waite Ave. S Waite Park, MN 56387 Full Service B&M $745
Gate City Bank 1144 E. Bismarck Expressway Bismarck, ND 58504 Full Service Retail $817

For 2021, Gate City Bank had 44 branches.

Yearly Performance Overview

Bank Income

Item Value (in 000's)
Total interest income $84,084
Net interest income $78,839
Total noninterest income $63,556
Gross Fiduciary activities income $0
Service charges on deposit accounts $23,699
Trading account gains and fees $0
Additional Noninterest Income $39,857
Pre-tax net operating income $24,958
Securities gains (or losses, -) $479
Income before extraordinary items $18,551
Discontinued Operations (Extraordinary gains, net) $0
Net income of bank and minority interests $18,551
Minority interest net income $0
Net income $18,551
Sale, conversion, retirement of capital stock, net $0
Net operating income $18,172

Gate City Bank's gross interest income from loans was $84,084,000.
Gate City Bank's net interest income from loans was $78,839,000.
Gate City Bank's fee based income from loans was $23,699,000.
Gate City Bank's net income from loans was $18,551,000.

Bank Expenses

Item Value (in 000's)
Total interest expense $5,245
Provision for credit losses $1,881
Total noninterest expense $115,556
Salaries and employee benefits $54,582
Premises and equipment expense $13,274
Additional noninterest expense $47,700
Applicable income taxes $6,886
Net charge-offs $2,065
Cash dividends $0

Gate City Bank's interest expense for loans was $5,245,000.
Gate City Bank's payroll and benefits expense were $54,582,000.
Gate City Bank's property, plant and equipment expenses $13,274,000.

Loan Performance

Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
All loans 0.0%
Real Estate loans 0.0%
Construction & Land Development loans 1.0%
Nonfarm, nonresidential loans 0.0%
Multifamily residential loans 0.0%
1-4 family residential loans 0.0%
HELOC loans 0.0%
All other family 0.0%
Commercial & industrial loans 3.0%
Personal loans 0.0%
Credit card loans 0.0%
Other individual loans 0.0%
Auto loans 0.0%
Other consumer loans 0.0%
Unsecured commercial real estate loans 0.0%

Deposits

Type Value (in 000's)
Total deposits $2,784,797
Deposits held in domestic offices $2,784,797
Deposits by Individuals, partnerships, and corporations $2,770,930
Deposits by U.S. Government $0
Deposits by States and political subdivisions in the U.S. $13,619
Deposits by Commercial banks and other depository institutions in U.S. $248
Deposits by Banks in foreign countries $0
Deposits by Foreign governments and official institutions $0
Transaction accounts $286,410
Demand deposits $90,049
Nontransaction accounts $2,498,387
Money market deposit accounts (MMDAs) $828,761
Other savings deposits (excluding MMDAs) $1,414,530
Total time deposits $255,096
Total time and savings deposits $2,694,748
Noninterest-bearing deposits $415,461
Interest-bearing deposits $2,369,336
Retail deposits $2,758,815
IRAs and Keogh plan accounts $81,269
Brokered deposits $0
Deposits held in foreign offices $0

Assets

Asset Value (in 000's)
Total Assets $3,168,170
Cash & Balances due from depository institutions $535,515
Interest-bearing balances $484,864
Total securities $306,300
Federal funds sold & reverse repurchase $0
Net loans and leases $2,210,302
Loan and leases loss allowance $15,811
Trading account assets $0
Bank premises and fixed assets $74,450
Other real estate owned $190
Goodwill and other intangibles $21,813
All other assets $19,600

Liabilities

Liabilities Value (in 000's)
Total liabilities and capital $3,168,170
Total Liabilities $2,859,634
Total deposits $2,784,797
Interest-bearing deposits $2,369,336
Deposits held in domestic offices $2,784,797
% insured (estimated) $93
Federal funds purchased and repurchase agreements $0
Trading liabilities $0
Other borrowed funds $48,000
Subordinated debt $0
All other liabilities $26,837

Issued Loan Types

Type Value (in 000's)
Net loans and leases $2,210,302
Loan and leases loss allowance $15,811
Total loans and leases (domestic) $2,226,113
All real estate loans $1,398,431
Real estate loans in domestic offices $1,398,431
Construction and development loans $26,151
Residential 1-4 family construction $16,243
Other construction, all land development and other land $9,908
Loans secured by nonfarm nonresidential properties $113,590
Nonfarm nonresidential secured by owner-occupied properties $62,005
Commercial real estate & other non-farm, non-residential $51,585
Multifamily residential real estate $45,977
1-4 family residential loans $1,212,713
Farmland loans $0
Loans held in foreign offices $0
Farm loans $107
Commercial and industrial loans $64,514
To non-U.S. addressees $0
Loans to individuals $761,539
Credit card loans $0
Related Plans $12,436
Consumer Auto Loans $397,735
Other loans to individuals $351,368
All other loans & leases $1,522
Loans to foreign governments and official institutions $0
Other loans $1,522
Loans to depository institutions and acceptances of other banks $0
Loans not secured by real estate $0
Loans secured by real estate to non-U.S. addressees $0
Restructured Loans & leases $3,271
Non 1-4 family restructured loans & leases $2,542
Total loans and leases (foreign) $0

Gate City Bank had $2,210,302,000 of loans outstanding in 2021. $1,398,431,000 of loans were in real estate loans. $26,151,000 of loans were in development loans. $45,977,000 of loans were in multifamily mortgage loans. $1,212,713,000 of loans were in 1-4 family mortgage loans. $107,000 of loans were in farm loans. $0 of loans were in credit card loans. $397,735,000 of loans were in the auto loan category.

Small Business Loans

Categorization # of Loans in Category $ amount of loans (in 000's) Average $/loan
Nonfarm, nonresidential loans - <$1MM 198 $51,229 $258,732
Nonfarm, nonresidential loans - <$100k 29 $1,500 $51,724
Nonfarm, nonresidential loans - $100-250k 71 $9,938 $139,972
Nonfarm, nonresidential loans - $250k-1MM 98 $39,791 $406,031
Commercial & Industrial, US addressed loans - <$1MM 861 $39,966 $46,418
Commercial & Industrial, US addressed loans - <$100k 716 $15,571 $21,747
Commercial & Industrial, US addressed loans - $100-250k 93 $9,506 $102,215
Commercial & Industrial, US addressed loans - $250k-1MM 52 $14,889 $286,327
Agriculture operations loans - <$1MM 7 $107 $15,286
Agriculture operations loans - <$100k 7 $107 $15,286