Gate City Bank Mortgage Rates, Fees & Info

Fargo, ND

LEI: 549300TQVOMKNKFOH392

Tax ID: 45-0138060

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Bank Data

  • Branches
  • Income
  • Loan Types
  • Deposit Mix
  • Loan Performance
  • Assets
  • Business Loans

    • Review & Overview

    Gate City Bank is a smaller 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 by origination volume include: Fargo, Bismarck, Grand Forks, Minot, and Williston among others. We have data for 59 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Gate City Bank has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Gate City Bank is typically an average fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.

    We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    Home Equity Line of Credit (HELOC) 6.25% 4/21/24
    30 Year Conventional Purchase 6.31% 4/21/24
    30 Year Conventional Refi 6.23% 4/21/24
    30 Year Cash-out Refi 6.22% 4/21/24
    30 Year FHA Purchase 7.14% 4/21/24
    30 Year FHA Refi 6.87% 4/21/24
    30 Year VA Purchase 5.92% 4/21/24
    30 Year VA Refi 6.14% 4/21/24
    30 Year USDA Purchase 6.70% 4/21/24
    15 Year Conventional Purchase 5.73% 4/21/24
    15 Year Conventional Refi 5.76% 4/21/24
    15 Year Cash-out Refi 5.76% 4/21/24
    15 Year VA Purchase 5.33% 4/21/24
    15 Year VA Refi 5.70% 4/21/24
    These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

    Gate City Bank Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Gate City Bank. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    4,337

    Origination Dollar Volume (All Markets)

    $811,295,000

    Employee count

    632 Show all (17) awards

    Top Markets

    Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.

    Market Originations Total Value Average Loan Average Fees Average Rate
    FARGO, ND-MN (FHA|USDA|VA) 1,515 $269,505,000 $177,891 $3,663 3.92%
    BISMARCK, ND (FHA|USDA|VA) 879 $176,315,000 $200,586 $4,255 3.91%
    Outside of Metro Areas 385 $72,485,000 $188,273 $4,328 3.78%
    GRAND FORKS, ND-MN (FHA|USDA|VA) 416 $68,400,000 $164,423 $3,370 4.09%
    Minot, ND (FHA|USDA|VA) 312 $58,480,000 $187,436 $4,021 3.91%
    Williston, ND (FHA|USDA|VA) 168 $37,980,000 $226,071 $4,616 4.11%
    Fergus Falls, MN (FHA|USDA|VA) 177 $34,395,000 $194,322 $3,819 3.74%
    Dickinson, ND (FHA|USDA|VA) 104 $22,020,000 $211,731 $4,103 4.16%
    Alexandria, MN (FHA|USDA|VA) 75 $14,905,000 $198,733 $4,574 3.68%
    Jamestown, ND (FHA|USDA|VA) 96 $13,540,000 $141,042 $2,590 4.25%
    Wahpeton, ND-MN (FHA|USDA|VA) 78 $10,120,000 $129,744 $3,554 3.98%
    MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 37 $9,425,000 $254,730 $5,428 3.64%
    PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 19 $5,345,000 $281,316 $6,357 3.54%
    MANHATTAN, KS (FHA|USDA|VA) 6 $1,740,000 $290,000 $1,300 3.63%
    DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 2 $1,120,000 $560,000 $6,462 3.75%
    ST. CLOUD, MN (FHA|USDA|VA) 6 $1,120,000 $186,667 $3,677 3.31%
    Brainerd, MN (FHA|USDA|VA) 5 $905,000 $181,000 $4,428 3.30%
    NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 2 $850,000 $425,000 $4,301 3.29%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 2 $830,000 $415,000 $5,191 3.00%
    DULUTH, MN-WI (FHA|USDA|VA) 3 $685,000 $228,333 $4,980 4.13%
    Bemidji, MN (FHA|USDA|VA) 4 $670,000 $167,500 $3,981 3.16%
    Willmar, MN (FHA|USDA|VA) 2 $650,000 $325,000 $4,851 4.25%
    OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) 4 $630,000 $157,500 $3,117 4.08%
    Sevierville, TN (FHA|USDA|VA) 1 $625,000 $625,000 $5,163 3.75%
    Watertown, SD (FHA|USDA|VA) 2 $600,000 $300,000 $3,716 4.25%
    GRAND JUNCTION, CO (FHA|USDA|VA) 2 $500,000 $250,000 $5,240 3.06%
    Bozeman, MT (FHA|USDA|VA) 1 $495,000 $495,000 $4,185 3.38%
    SIOUX FALLS, SD (FHA|USDA|VA) 2 $490,000 $245,000 $4,557 3.69%
    RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 1 $405,000 $405,000 $6,512 2.75%
    LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 1 $405,000 $405,000 $4,409 4.13%
    Spearfish, SD (FHA|USDA|VA) 1 $355,000 $355,000 $0 4.50%
    PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 1 $315,000 $315,000 $3,478 3.25%
    WACO, TX (FHA|USDA|VA) 1 $305,000 $305,000 $3,770 4.13%
    PUNTA GORDA, FL (FHA|USDA|VA) 1 $275,000 $275,000 $6,179 4.38%
    LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 1 $265,000 $265,000 $0 4.13%
    Carlsbad-Artesia, NM (FHA|USDA|VA) 1 $255,000 $255,000 $2,487 3.25%
    Starkville, MS (FHA|USDA|VA) 1 $255,000 $255,000 $3,379 2.50%
    MADISON, WI (FHA|USDA|VA) 1 $255,000 $255,000 $5,226 3.75%
    BOULDER, CO (FHA|USDA|VA) 1 $245,000 $245,000 $4,942 3.25%
    ROCHESTER, MN (FHA|USDA|VA) 1 $235,000 $235,000 $5,217 4.13%
    Mason City, IA (FHA|USDA|VA) 1 $225,000 $225,000 $4,482 3.88%
    Frankfort, KY (FHA|USDA|VA) 1 $205,000 $205,000 $4,722 3.50%
    BILLINGS, MT (FHA|USDA|VA) 1 $195,000 $195,000 $5,502 3.38%
    Faribault-Northfield, MN (FHA|USDA|VA) 1 $195,000 $195,000 $2,669 3.13%
    DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) 1 $185,000 $185,000 $4,243 3.00%
    LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) 1 $175,000 $175,000 $4,315 3.75%
    RAPID CITY, SD (FHA|USDA|VA) 2 $170,000 $85,000 $3,265 2.75%
    PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) 1 $155,000 $155,000 $5,160 3.25%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 1 $155,000 $155,000 $4,937 4.25%
    COLORADO SPRINGS, CO (FHA|USDA|VA) 1 $145,000 $145,000 $4,795 3.50%
    Grand Rapids, MN (FHA|USDA|VA) 1 $145,000 $145,000 $3,877 3.38%
    TUCSON, AZ (FHA|USDA|VA) 1 $145,000 $145,000 $4,816 3.38%
    BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) 1 $145,000 $145,000 $3,970 3.63%
    INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 1 $135,000 $135,000 $3,291 4.25%
    LAWRENCE, KS (FHA|USDA|VA) 1 $135,000 $135,000 $3,397 3.38%
    New Ulm, MN (FHA|USDA|VA) 1 $125,000 $125,000 $4,834 2.75%
    RALEIGH-CARY, NC (FHA|USDA|VA) 1 $115,000 $115,000 $3,805 3.38%
    Aberdeen, SD (FHA|USDA|VA) 1 $75,000 $75,000 $3,287 2.75%
    Marshall, MN (FHA|USDA|VA) 1 $75,000 $75,000 $2,627 2.63%
    Gate City Bank's top markets include Fargo, Bismarck, Grand Forks, Minot, and Williston among others.

    Their top states include:
  • North Dakota (FHA|USDA|VA)
  • Minnesota (FHA|USDA|VA)
  • Arizona (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Kansas (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against Gate City Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    WESTERN COOPERATIVE CREDIT UNION
    Similarity Rank: 112
    Dacotah Bank
    Similarity Rank: 200
    T & C REAL ESTATE SERVICES LLC
    Similarity Rank: 440
    CAPITAL CREDIT UNION
    Similarity Rank: 490
    VALLEY MORTGAGE, INC.
    Similarity Rank: 550
    Deer Valley Credit Union
    Similarity Rank: 820
    TOWN AND COUNTRY Credit Union
    Similarity Rank: 855
    DHA FINANCIAL, LLC
    Similarity Rank: 912
    South Metro Federal Credit Union
    Similarity Rank: 1088
    First National Bank of Elk River
    Similarity Rank: 1110

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 3,625 $723,365,000 $199,549 $3,660 3.83%
    HELOC 400 $23,420,000 $58,550 n/a 4.70%
    FHA 172 $31,670,000 $184,128 $6,768 4.08%
    VA 103 $27,215,000 $264,223 $7,697 3.66%
    USDA 37 $5,625,000 $152,027 $5,050 3.88%

    For 2019, Gate City Bank's most frequently originated type of loan was Conventional, with 3,625 originations. Their 2nd most popular type was HELOC, with 400 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 2,113 $469,135,000 $222,023 $4,624 3.79%
    Refi 836 $162,430,000 $194,294 $3,527 3.85%
    Cash Out Refi 612 $135,840,000 $221,961 $4,600 3.35%
    Home Improvement 432 $20,730,000 $47,986 $414 4.82%
    Other 344 $23,160,000 $67,326 $1,144 4.74%

    For 2019, Gate City Bank's most frequently cited loan purpose was Home Purchase, with 2,113 originations. The 2nd most popular reason was Refi, with 836 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 2,507 $588,975,000 $234,932 $4,773 3.70%
    15 Year 804 $119,970,000 $149,216 $2,835 3.89%
    10 Year 680 $45,210,000 $66,485 $877 4.64%
    5 Year 207 $32,075,000 $154,952 $222 4.19%
    20 Year 123 $21,735,000 $176,707 $3,815 4.02%
    Other 11 $2,405,000 $218,636 $3,666 3.81%
    1 Year 5 $925,000 $185,000 $0 5.04%

    For 2019, Gate City Bank's most frequently cited loan duration was 30 Year, with 2,507 originations. The 2nd most popular length was 15 Year, with 804 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 1,211 $153,365,000 $126,643
    $2k-3k 1,006 $186,120,000 $185,010
    $3k-4k 690 $186,290,000 $269,986
    $1k-2k 422 $47,060,000 $111,517
    $4k-5k 271 $96,605,000 $356,476
    $5k+ 134 $69,040,000 $515,224

    Gate City Bank's average total fees were $4,773, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 1,211 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 2,104 $465,950,000 $221,459
    4-5% 1,179 $159,685,000 $135,441
    2.5-3% 609 $140,065,000 $229,992
    5-6% 307 $25,285,000 $82,362
    <2.5% 75 $15,785,000 $210,467
    6-7% 45 $2,935,000 $65,222
    7-8% 18 $1,590,000 $88,333

    During 2019, Gate City Bank's average interest rate for loans was 3.70%, while their most frequently originated rate bucket for loans was 3-4%, with 2,104 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 1,502 $408,970,000 $272,284 $5,321 3.56%
    $100k-200k 1,352 $205,570,000 $152,049 $3,713 3.77%
    $100,000 or less 1,245 $63,535,000 $51,032 $1,034 4.58%
    $400k-600k 183 $85,375,000 $466,530 $6,466 3.51%
    $600k-1MM 45 $31,545,000 $701,000 $9,206 3.65%
    $1MM+ 10 $16,300,000 $1,630,000 $15,391 4.16%

    2019 saw Gate City Bank place emphasis on $200k-400k loans with 1,502 originations, totaling $408,970,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 1,039 $211,925,000 $203,970 $4,373 3.93%
    $50k-75k 931 $139,785,000 $150,145 $3,761 3.88%
    $75k-100k 899 $160,235,000 $178,237 $3,979 3.87%
    $150k-250k 598 $134,890,000 $225,569 $4,092 4.03%
    $50k or less 475 $55,415,000 $116,663 $3,227 3.90%
    $250k+ 154 $48,960,000 $317,922 $4,903 3.82%

    Gate City Bank lent most frequently to those with incomes in the $100k-150k range, with 1,039 originations. The second most popular income band? $50k-75k, with 931 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 1,050 $186,160,000 $177,295 $3,764 3.84%
    30-36% 889 $165,485,000 $186,147 $3,968 3.90%
    <20% 373 $59,225,000 $158,780 $3,212 3.89%
    42% 204 $34,150,000 $167,402 $3,164 4.16%
    39% 194 $35,200,000 $181,443 $3,849 4.05%
    41% 172 $31,930,000 $185,640 $3,961 3.95%
    38% 161 $27,275,000 $169,410 $3,455 3.95%
    37% 151 $26,275,000 $174,007 $3,500 4.07%
    36% 149 $28,775,000 $193,121 $4,026 3.81%
    40% 146 $26,880,000 $184,110 $3,535 3.95%
    44% 117 $27,025,000 $230,983 $4,832 3.61%
    43% 116 $25,950,000 $223,707 $4,991 3.66%
    46% 85 $18,495,000 $217,588 $5,601 3.86%
    45% 76 $18,340,000 $241,316 $5,381 3.84%
    49% 75 $13,445,000 $179,267 $4,993 4.02%
    48% 69 $14,205,000 $205,870 $5,688 3.86%
    47% 63 $12,765,000 $202,619 $5,043 3.80%
    50-60% 22 $6,360,000 $289,091 $6,252 3.69%
    >60% 13 $2,285,000 $175,769 $3,411 4.10%

    Gate City Bank lent most frequently to those with DTI ratios of 20-30%, with 1,050 originations. The next most common DTI ratio? 30-36%, with 889 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 3,723 $686,355,000 $184,355 $3,940 3.89%
    Not provided 400 $69,790,000 $174,475 $3,765 4.00%
    Not applicable 127 $38,335,000 $301,850 $0 4.43%
    American Indian 34 $8,100,000 $238,235 $5,191 3.86%
    Asian 33 $6,375,000 $193,182 $3,810 3.79%
    Black 18 $2,280,000 $126,667 $3,308 4.21%
    Native Hawaiian 1 $35,000 $35,000 $81 4.50%
    Samoan 1 $25,000 $25,000 $117 4.20%

    Approval Rates

    Total approvals of all applications
    96.16%

    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
    87.20%

    Gate City Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 4,337 $811,295,000 $187,064

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 37 $26,305,000 $710,946
    Single Family (1-4 Units):Manufactured 32 $4,400,000 $137,500
    Single Family (1-4 Units):Site-Built 4,268 $780,590,000 $182,894

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 411 $32,815,000 $79,842 $1,212 4.59%
    40-60% 410 $67,590,000 $164,854 $3,509 3.72%
    60-80% 1,183 $280,035,000 $236,716 $4,527 3.59%
    80-100% 1,674 $400,840,000 $239,450 $4,897 3.70%
    Over 100% 27 $7,125,000 $263,889 $10,466 3.64%
    Under 20% 632 $22,890,000 $36,218 $261 4.82%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Gate City Bank 1630 Broadway St Alexandria, MN 56308 Full Service B&M $14,803
    Gate City Bank 1725 Golf Drive Bismarck, ND 58503 Full Service B&M $45,310
    Gate City Bank 201 Briggs Ave. S. Park River, ND 58270 Full Service B&M $21,141
    Gate City Bank 204 Sims St. Dickinson, ND 58602 Full Service B&M $166,790
    Gate City Bank 4101 13th Ave S Fargo, ND 58103 Full Service Retail $3,597
    Gate City Bank 101 11th St. S Moorhead, MN 56560 Full Service Retail $48
    Gate City Bank 101 East Main St Mohall, ND 58761 Full Service B&M $8,274
    Gate City Bank 1017 S. Broadway Minot, ND 58701 Full Service B&M $112,717
    Gate City Bank 11 1st St Se Mayville, ND 58257 Full Service B&M $10,594
    Gate City Bank 111 South Main St Hettinger, ND 58639 Full Service B&M $10,384
    Gate City Bank 1119 9th Street East West Fargo, ND 58078 Full Service B&M $52,316
    Gate City Bank 1501 S. University Drive Fargo, ND 58103 Full Service B&M $21,435
    Gate City Bank 1532 32nd Avenue South Fargo, ND 58103 Full Service Retail $4,610
    Gate City Bank 2050 Sheyenne Street West Fargo, ND 58078 Full Service Retail $41
    Gate City Bank 2501 Broadway Fargo, ND 58102 Full Service B&M $39,301
    Gate City Bank 2710 State Street Bismarck, ND 58503 Full Service B&M $99,955
    Gate City Bank 2850 24th Ave. S. Grand Forks, ND 58206 Full Service B&M $86,711
    Gate City Bank 2929 20th Street South Moorhead, MN 56560 Full Service B&M $23,103
    Gate City Bank 304 East Rosser Avenue Bismarck, ND 58502 Full Service B&M $176,274
    Gate City Bank 305 8th Street South Moorhead, MN 56560 Full Service B&M $54,631
    Gate City Bank 309 2nd Ave Sw Jamestown, ND 58401 Full Service B&M $75,819
    Gate City Bank 3100 25 St S Fargo, ND 58103 Full Service B&M $69,119
    Gate City Bank 3204 Yorktown Drive Bismarck, ND 58503 Full Service B&M $6,767
    Gate City Bank 3205 South Washington Grand Forks, ND 58201 Full Service B&M $77,349
    Gate City Bank 3800 51st Ave S Fargo, ND 58104 Full Service B&M $7,160
    Gate City Bank 3909 13th Ave. S. Fargo, ND 58103 Full Service B&M $116,100
    Gate City Bank 405 East Main Street Mandan, ND 58554 Full Service B&M $36,933
    Gate City Bank 4151 45th Street S Fargo, ND 58104 Full Service Retail $17,679
    Gate City Bank 422 Main Street Williston, ND 58801 Full Service B&M $117,153
    Gate City Bank 428 West Lincoln Ave Fergus Falls, MN 56537 Full Service B&M $17,217
    Gate City Bank 500 2nd Ave N Fargo, ND 58102 Full Service Cyber Office $31,316
    Gate City Bank 500 Second Avenue North Fargo, ND 58102 Full Service B&M $180,722
    Gate City Bank 501 Demers Avenue Grand Forks, ND 58201 Full Service B&M $37,313
    Gate City Bank 601 Fourth Street Devils Lake, ND 58301 Full Service B&M $32,253
    Gate City Bank 720 Main Street Carrington, ND 58421 Full Service B&M $30,321
    Gate City Bank 802 Dakota Ave Wahpeton, ND 58074 Full Service B&M $41,575
    Gate City Bank 837 31st Ave E West Fargo, ND 58078 Full Service B&M $22,278
    Gate City Bank 924 31st Ave Sw, Dakota Square Minot, ND 58702 Full Service B&M $61,783
    Gate City Bank 950 40th Ave S Moorhead, MN 56560 Full Service Retail $3,766

    For 2019, Gate City Bank had 39 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $81,726
    Net interest income $71,804
    Total noninterest income $53,141
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $24,300
    Trading account gains and fees $0
    Additional Noninterest Income $28,841
    Pre-tax net operating income $26,664
    Securities gains (or losses, -) $282
    Income before extraordinary items $20,020
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $20,020
    Minority interest net income $0
    Net income $20,020
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $19,797

    Gate City Bank's gross interest income from loans was $81,726,000.
    Gate City Bank's net interest income from loans was $71,804,000.
    Gate City Bank's fee based income from loans was $24,300,000.
    Gate City Bank's net income from loans was $20,020,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $9,922
    Provision for credit losses $3,544
    Total noninterest expense $94,737
    Salaries and employee benefits $47,094
    Premises and equipment expense $11,125
    Additional noninterest expense $36,518
    Applicable income taxes $6,926
    Net charge-offs $2,167
    Cash dividends $0

    Gate City Bank's interest expense for loans was $9,922,000.
    Gate City Bank's payroll and benefits expense were $47,094,000.
    Gate City Bank's property, plant and equipment expenses $11,125,000.

    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 0.0%
    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 $2,004,821
    Deposits held in domestic offices $2,004,821
    Deposits by Individuals, partnerships, and corporations $1,998,989
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $5,587
    Deposits by Commercial banks and other depository institutions in U.S. $245
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $203,626
    Demand deposits $56,341
    Nontransaction accounts $1,801,195
    Money market deposit accounts (MMDAs) $642,744
    Other savings deposits (excluding MMDAs) $871,423
    Total time deposits $287,028
    Total time and savings deposits $1,948,480
    Noninterest-bearing deposits $252,685
    Interest-bearing deposits $1,752,136
    Retail deposits $1,970,833
    IRAs and Keogh plan accounts $83,495
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $2,380,296
    Cash & Balances due from depository institutions $115,524
    Interest-bearing balances $93,752
    Total securities $84,351
    Federal funds sold & reverse repurchase $0
    Net loans and leases $2,079,950
    Loan and leases loss allowance $13,048
    Trading account assets $0
    Bank premises and fixed assets $66,683
    Other real estate owned $83
    Goodwill and other intangibles $15,388
    All other assets $18,317

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $2,380,296
    Total Liabilities $2,112,539
    Total deposits $2,004,821
    Interest-bearing deposits $1,752,136
    Deposits held in domestic offices $2,004,821
    % insured (estimated) $89
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $85,000
    Subordinated debt $0
    All other liabilities $22,718

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $2,079,950
    Loan and leases loss allowance $13,048
    Total loans and leases (domestic) $2,092,998
    All real estate loans $1,350,965
    Real estate loans in domestic offices $1,350,965
    Construction and development loans $20,512
    Residential 1-4 family construction $11,560
    Other construction, all land development and other land $8,952
    Loans secured by nonfarm nonresidential properties $91,164
    Nonfarm nonresidential secured by owner-occupied properties $61,086
    Commercial real estate & other non-farm, non-residential $30,078
    Multifamily residential real estate $48,687
    1-4 family residential loans $1,190,602
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $147
    Commercial and industrial loans $60,481
    To non-U.S. addressees $0
    Loans to individuals $679,875
    Credit card loans $0
    Related Plans $13,639
    Consumer Auto Loans $340,125
    Other loans to individuals $326,111
    All other loans & leases $1,530
    Loans to foreign governments and official institutions $0
    Other loans $1,530
    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 $810
    Non 1-4 family restructured loans & leases $31
    Total loans and leases (foreign) $0

    Gate City Bank had $2,079,950,000 of loans outstanding in 2019. $1,350,965,000 of loans were in real estate loans. $20,512,000 of loans were in development loans. $48,687,000 of loans were in multifamily mortgage loans. $1,190,602,000 of loans were in 1-4 family mortgage loans. $147,000 of loans were in farm loans. $0 of loans were in credit card loans. $340,125,000 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 182 $48,506 $266,516
    Nonfarm, nonresidential loans - <$100k 30 $1,676 $55,867
    Nonfarm, nonresidential loans - $100-250k 58 $7,907 $136,328
    Nonfarm, nonresidential loans - $250k-1MM 94 $38,923 $414,074
    Commercial & Industrial, US addressed loans - <$1MM 721 $37,367 $51,827
    Commercial & Industrial, US addressed loans - <$100k 585 $14,095 $24,094
    Commercial & Industrial, US addressed loans - $100-250k 85 $8,202 $96,494
    Commercial & Industrial, US addressed loans - $250k-1MM 51 $15,070 $295,490
    Agriculture operations loans - <$1MM 5 $147 $29,400
    Agriculture operations loans - <$100k 5 $147 $29,400