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 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 by origination volume include: Fargo, Bismarck, Grand Forks, Minot, and Fergus Falls among others. We have data for 71 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

    6,049

    Origination Dollar Volume (All Markets)

    $1,276,195,000

    Employee count

    675 Show all (18) 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) 1,996 $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.

    Their top states include:
  • North Dakota (FHA|USDA|VA)
  • Minnesota (FHA|USDA|VA)
  • Arizona (FHA|USDA|VA)
  • Montana (FHA|USDA|VA)
  • South Dakota (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: 156
    Unify Home Lending Inc.
    Similarity Rank: 195
    Bank Forward
    Similarity Rank: 340
    First Credit Union
    Similarity Rank: 378
    Dacotah Bank
    Similarity Rank: 490
    Farmers & Merchants Savings Bank
    Similarity Rank: 720
    American Bank Center
    Similarity Rank: 731
    Anoka Hennepin Credit Union
    Similarity Rank: 826
    ARIZONA CENTRAL
    Similarity Rank: 1166
    MY Credit Union
    Similarity Rank: 1200

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 5,131 $1,140,165,000 $222,211 $4,167 2.82%
    HELOC 468 $34,200,000 $73,077 n/a 3.95%
    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 2021, Gate City Bank's most frequently originated type of loan was Conventional, with 5,131 originations. Their 2nd most popular type was HELOC, with 468 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. 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 2021, Gate City Bank's most frequently cited loan purpose was Home Purchase, with 2,258 originations. The 2nd most popular reason was 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 2021, Gate City Bank's most frequently cited loan duration was 30 Year, with 3,280 originations. The 2nd most popular length was 15 Year, with 1,184 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $2k-3k 1,675 $306,565,000 $183,024
    $3k-4k 1,152 $308,490,000 $267,786
    $<1k 1,041 $142,755,000 $137,133
    $1k-2k 629 $71,645,000 $113,903
    $4k-5k 451 $158,595,000 $351,652
    $5k+ 341 $178,005,000 $522,009

    Gate City Bank's average total fees were $5,105, while their most frequently occuring range of origination fees (closing costs) 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 for loans was 2.82%, while their most frequently originated rate bucket for loans was 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 or Islander 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
    95.05%

    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
    86.23%

    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 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 1001 4th St Se Saint Cloud, MN 56304 Full Service Retail $914
    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
    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 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 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

    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