Gate City Bank is headquartered in FARGO and is the 5th largest bank in the state of North Dakota. It is also the 354th largest bank in the nation. It was established in 1923 and as of December of 2023, it had grown to 669 employees at 46 locations. Gate City Bank's savings rates are 8X the national average, and it has a B+ health rating.
Love This Bank!
I absolutely love this bank! I've moved around for the last 10 years quite a bit, so I have used quite a few different banks (switching each time that I move). I started using Gate City Bank when I lived in Fargo, ND for a couple of years. I have since moved to the Twin Cities area, and they do not have any locations anywhere near me. I opened up an account with another bank here just so I can do some local banking transactions, but I just can't let go of my Gate City account. They have an excellent website and mobile app. As of this year, you can now deposit checks through that mobile app, so I can easily do long distance banking. The mobile app shows all of your recent transactions, which is the closest I've seen for real time balances. The only thing that doesn't show up right away is when you pay at the pump for gas. Anything else seems to show up right away. Also, they automatically reimburse your ATM fees immediately. The only thing that I can't do is deposit cash since they are not close to me. I kind of miss their fresh baked cookies too. :-)
Great Local Bank
Since my parents always banked with Wells Fargo, that is where I opened my first checking and savings account when I was in high school. I had those accounts through high school, college, and right up until before I was married. I also opened my first credit card with Wells Fargo when I was in college. Every year that went by my views and experience with Wells Fargo got worse and worse with bad customer service, endless annoying calls, and high fees. A few years ago my fiance and I decided to switch to a local North Dakota bank called Gate City Bank. The transition went smooth and I had a great first experience with the customer service at Gate City. It was a welcome environment in the smaller bank and the workers were great. Since opening checking and savings accounts with Gate city I have also gotten a car loan and mortgage through them. I found that they definitely had some of the best interest rates around. Every time I set foot in our bank I feel welcomed and get great service which is such a nice change from Wells Fargo. Our mortgage process with them was quick and a lot easier than I thought it would be since we were first time home buyers. I am very happy with Gate City Bank.
Data as of Q4 2023
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 27774 |
| Year Established | 1923 |
| Employees | 669 |
| Primary Regulator | OCC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.41% |
| Return on Equity - YTD | 4.67% |
| Annual Interest Income | $125.9MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q4 2023vs Q4 2022 | $3.5B$3.39B |
| Loans | Q4 2023vs Q4 2022 | $2.85B$2.69B |
| Deposits | Q4 2023vs Q4 2022 | $2.94B$2.91B |
| Equity Capital | Q4 2023vs Q4 2022 | $311.7MM$293.5MM |
| Loan Loss Allowance | Q4 2023vs Q4 2022 | $18.3MM$17.2MM |
| Unbacked Noncurrent Loans | Q4 2023vs Q4 2022 | $14.4MM$11.1MM |
| Real Estate Owned | Q4 2023vs Q4 2022 | $173K$139K |
