Gateway First Bank is headquartered in JENKS and is the 10th largest bank in the state of Oklahoma. It is also the 607th largest bank in the nation. It was established in 1935 and as of September of 2024, it had grown to 710 employees at 17 locations. Gateway First Bank has a B+ health rating.
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Good Experiences
I had a series of 12 month CDs in 2020-21 with Gateway. Opened all them online. Had no problems with opening them up. Hit a snag on one when trying to set up my online access. I was able to contact CS by phone and they were able to correct the problem. I was impressed with their friendliness and attitude. At renewal time in early 2022 their rates had dropped so I started closing out the CDs. I contacted them by phone and they promptly overnighted me a check. I liked that. I have recently noticed that they have started back raising their rates. If they get their rates back up I will without a doubt use them again. I had a good experience.
Run, Don't Walk From Gateway First Bank
We recently requested that our CD be closed since we were in the maturity period. We would have kept our money in Gateway First Bank but their interest rate was below what we could find elsewhere. We asked how our money would be sent. They would not do an ACH even on the bank we sent them an ACH from. So they said they would overnight a check to us. We still after 5 days have not received a check and the bank says they sent it. FedEx has no record of it other than a label being made. So FedEx says they haven't received it and the bank says they have sent it. On multiple occasions we have tried to speak to management and they seem to always be busy or out of the office on lunch. We have 2 other CDs that will mature in the next week with Gateway First and we will definitely close our account. How soon will we get our money? We have no idea - and neither does Gateway First. I am not convinced they care... As an old line from a movie says if you're thinking about doing business with them "Run, Forrest, Run!"
Data as of Q3 2024
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 15118 |
| Year Established | 1935 |
| Employees | 710 |
| Primary Regulator | FDIC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.99% |
| Return on Equity - YTD | 7.59% |
| Annual Interest Income | $77.2MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q3 2024vs Q3 2023 | $1.92B$2.14B |
| Loans | Q3 2024vs Q3 2023 | $1.38B$1.5B |
| Deposits | Q3 2024vs Q3 2023 | $1.19B$1.2B |
| Equity Capital | Q3 2024vs Q3 2023 | $259.2MM$286.4MM |
| Loan Loss Allowance | Q3 2024vs Q3 2023 | $16.3MM$11.4MM |
| Unbacked Noncurrent Loans | Q3 2024vs Q3 2023 | $26.9MM$18.8MM |
| Real Estate Owned | Q3 2024vs Q3 2023 | $2MM$618K |