Blue Gate Bank (CA) Adds Money Market


Deal Summary: Money Market, 1.50% APY guaranteed through January 31, 2018, $25k minimum deposit, $5m maximum combined deposits per customer, new money, checking relationship.

Availability: Market area is Southern California.

If you’re not familiar with Blue Gate Bank, there’s a good reason: Blue Gate Bank opened its doors for business on January 23, 2017.

Blue Gate Bank’s inaugural special is its Money Market account, with a 1.50% APY that is guaranteed through January 31, 2018. The minimum opening deposit is $25k of new money; a minimum $25k daily balance must be maintained to earn the stated APY. There is a “maximum combined deposits of $5,000,000 per client for this promotion.” According to the Money Market promotion page,

No interest is earned on any day that the daily balance falls below $25,000.

A new non-interest bearing Personal Checking account needs to be opened with a minimum $2.5k deposit of new money to qualify for the Money Market’s 1.50% APY. There is a $9 monthly service charge that can be waived by maintaining a $500 minimum daily balance.

Thanks to DA reader, CTM, for his Forum posts on Blue Gate Bank and its MMA promotions.


Headquartered in Costa Mesa, California, Blue Gate Bank’s market area is “aimed at business clientele and high-net-worth customers” in Southern California.

The Bank’s unique name happens to be the street where the Bank’s founders live.

Opening a personal checking account and/or a Money Market account requires an in-person visit to the sole California branch located in Costa Mesa on Anton Boulevard.

Bank Overview

Blue Gate Bank has an overall health grade of "B" at, with a Texas ratio of 0.00% (excellent, and not a typo) based on March 31, 2017 data. Blue Gate Bank has an excellent capitalization level (58.26%), the result of holding $46.55 million in assets with $27.12 in equity. Please refer to our financial overview of Blue Gate Bank (FDIC Certificate # 59094) for more details.

Blue Gate Bank is one of five de novo bank applications approved by the FDIC since 2009, and the first new California bank to open since the financial crisis. According to FDIC data, the number of California banks dropped by almost 45% since late 2008, leaving the state with 179 different institutions. Los Angeles did slightly better than the state, with a 37% rate of decline between 2008 and 2016. San Diego did not fare as well: there were 31 banks at the end of 2008, and now there are only nine.

Blue Gate Bank Founding Chairwoman Molly Gallaher Flater’s vision to bring a client-centric community bank began in 2015 when she sought to address the lack of in-depth services from larger financial institutions.

“We have a responsibility to make our communities stronger, and that begins with giving local companies the financial opportunities they need to be successful,” said Flater. “That’s what sets Blue Gate Bank apart from other community banks. We believe in a client-focused approach to service and are passionate about making great things happen.”

How the Money Market Compares

When compared to the 251 Money Market Accounts tracked by that are available in the Bank’s market area, Blue Gate Bank’s Money Market APY currently ranks first, regardless of minimum deposit.

The above rates are accurate as of 5/25/2017.

To look for the best Money Market Account rates, both nationwide and state specific, please refer to our Money Market Account rates table, or our Rates Map page.

Related Pages: Los Angeles money market accounts, Sacramento money market accounts, money market accounts


The financial institution, product, and APY (Annual Percentage Yield) data displayed on this website is gathered from various sources and may not reflect all of the offers available in your region. Although we strive to provide the most accurate data possible, we cannot guarantee its accuracy. The content displayed is for general information purposes only; always verify account details and availability with the financial institution before opening an account. Contact [email protected] to report inaccurate info or to request offers be included in this website. We are not affiliated with the financial institutions included in this website.