Gate City Bank in Fargo, North Dakota (ND), MN
Table of contents:
| Gate City Bank | |
|---|---|
| General | FDIC Certificate #: 27774 Status: Active Federal Reserve ID: 657271 Date Established: January 01, 1923 WWW: http://www.gatecitybank.com Trust Powers Granted: No Bank Charter Class: Savings associations, state or federal charter, supervised by the Office of Thrift Supervision (OTS) Offices: 32 (Domestic: 32, Interstate: Yes) OTS Docket #: 257 FDIC's unique #: 40608 Numeric code: 34 Regulator: OCC Insurance Fund Membership: Deposit Insurance Fund (DIF) FDIC Insured: Yes Insured Savings Institution: Yes Deposit Insurance Fund member: Yes Ownership Type: Non-Stock FFIEC Call Report 31 Filer: No State Chartered: No Subchapter S Corporations: No Asset Concentration Hierarchy: Consumer Lending Specialization Date of Deposit Insurance: July 12, 1935 Last Structure Change Effective Date: July 21, 2011 Last Structure Change Process Date: July 21, 2011 Last Data Update: July 21, 2011 Data Source Date: April 05, 2012 |
| Location | Address: 500 Second Avenue North, Fargo, ND 58102 County: Cass Quarterly Banking Profile Region: Kansas City FDIC Geographic Region: Kansas City FDIC Supervisory Region: Kansas City FDIC Field Office: Fargo Office of the Comptroller the Currency (OCC) District: Central Office of Thrift Supervision Region: West Metropolitan Statistical Area (MSA): Fargo-Moorhead, ND-MN (#2520) Combined Statistical Area (CSA): Fargo-Wahpeton, ND-MN (#244) Core Based Statistical Area (CBSA): Fargo, ND-MN (#22020) CBSA Metro Statistical Area: Fargo, ND-MN (#22020) |
| History of Changes | Change in Primary Regulatory Agency |
| Financial Summary | Total assets: $1,403.0 mil Equity capital: $156.8 mil Deposits held in domestic offices: $1,231.5 mil Return on assets (ROA): 0.80% ($11.2 mil) Quarterly return on assets: 0.82% ($11.5 mil) Return on Equity (ROE): 6.88% ($10.8 mil) Quarterly return on equity: 7.22% ($11.3 mil) Net income: $10.4 mil Quarterly Net income: $2.8 mil Pretax return on assets: 1.29% ($18,098.9 mil) Quarterly Pretax return on assets: 1.34% ($18,800.4 mil) |
| Assets and Liabilities (December 31, 2011) (Dollar figures in thousands) | |
| Total employees (full-time equivalent) | 345 |
| Total assets | $1,403,013 |
| Cash and due from depository institutions | $240,655 |
| Interest-bearing balances | $228,490 |
| Securities | $64,662 |
| Federal funds sold & reverse repurchase agreements | $0 |
| Net loans & leases | $1,045,373 |
| Loan loss allowance | $8,693 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $35,894 |
| Other real estate owned | $1,161 |
| Goodwill and other intangibles | $6,220 |
| All other assets | $9,048 |
| Life insurance assets | $1,403,013 |
| Total liabilities and capital | $1,246,239 |
| Total liabilities | $1,231,488 |
| Total deposits | $1,208,609 |
| Interest-bearing deposits | $1,231,488 |
| Deposits held in domestic offices | $93 |
| % insured (estimated) | 0.00% |
| Federal funds purchased & repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $0 |
| Subordinated debt | $14,751 |
| All other liabilities | $156,774 |
| Total equity capital | $156,774 |
| Total bank equity capital | $156,774 |
| Perpetual preferred stock | $0 |
| Common stock | $0 |
| Surplus | $0 |
| Undivided profits | $156,774 |
| Memoranda | |
| Noncurrent loans and leases | $0 |
| Noncurrent loans that are wholly or partially guaranteed by the U.S. government | $0 |
| Income earned, not collected on loans | $2,287 |
| Earning assets | $335 |
| Long-term assets (5+ years) | $3,686 |
| Average Assets, year-to-date | $1,338,525 |
| Average Assets, quarterly | $0 |
| Volatile liabilities | $1,304,550 |
| Insider loans | $1,374,113 |
| FHLB advances | $839,784 |
| Loans and leases held for sale | $1,402,803 |
| Unused loan commitments | $0 |
| Tier 1 (core) risk-based capital | $0 |
| Tier 2 risk-based capital | $156,637 |
| Total risk weighted assets | $0 |
| Total unused commitments | $0 |
| Restructured Loans and leases | $70,177 |
| Derivatives | $1,241 |
| Income and Expense (December 31, 2011) (Dollar figures in thousands) | |
| Total interest income | $51,318 |
| Total interest expense | $10,035 |
| Net interest income | $41,283 |
| Provision for loan and lease losses | $2,949 |
| Total noninterest income | $19,829 |
| Fiduciary activities | $0 |
| Service charges on deposit accounts | $15,027 |
| Trading account gains & fees | $0 |
| Additional noninterest income | $4,802 |
| Total noninterest expense | $41,308 |
| Salaries and employee benefits | $20,040 |
| Premises and equipment expense | $8,335 |
| Additional noninterest expense | $12,933 |
| Pre-tax net operating income | $16,855 |
| Securities gains (losses) | $0 |
| Applicable income taxes | $6,441 |
| Income before extraordinary items | $10,414 |
| Extraordinary gains - net | $0 |
| Net income attributable to bank | $10,414 |
| Net charge-offs | $0 |
| Cash dividends | $10,414 |
| Sale, conversion, retirement of capital stock, net | $1,193 |
| Net operating income | $0 |
| Performance and Condition Ratios (December 31, 2011) (Dollar figures in thousands) | |
| Performance Ratios (%, annualized) | |
| Yield on earning assets | 4.13% |
| Cost of funding earning assets | 0.81% |
| Net interest margin | 3.32% |
| Noninterest income to earning assets | 1.60% |
| Noninterest expense to earning assets | 3.32% |
| Net operating income to assets | 0.80% |
| Return on assets (ROA) | 0.80% |
| Pretax return on assets | 1.29% |
| Return on equity (ROE) | 6.88% |
| Retained earnings to average equity (YTD only) | 6.88% |
| Net charge-offs to loans | 0.12% |
| Credit loss provision to net charge-offs | 247.19% |
| Efficiency ratio | 16.60% |
| Assets per employee | $67,594 |
| Cash dividends to net income (YTD only) | 4.07% |
| Condition Ratios (%) | |
| Loss allowance to loans | 0.00% |
| Loss allowance to noncurrent loans | 0.82% |
| Noncurrent assets plus other real estate owned to assets | 380.10% |
| Noncurrent loans to loans | 0.25% |
| Net loans and leases to deposits | 0.22% |
| Net loans and leases to core deposits | 84.89% |
| Equity capital to assets | 86.80% |
| Core capital (leverage) ratio | 11.17% |
| Tier 1 risk-based capital ratio | 11.17% |
| Total risk-based capital ratio | 18.65% |
| Memoranda | |
| Average assets | $20 |
| Average earning assets | $1,304,550 |
| Average equity | $151,352 |
| Average loans | $1,242,411 |
| 4 Minnesota Branches as of April 05, 2012 | ||||||
| No | ID | Name | Address | Established | Service Type | Map |
|---|---|---|---|---|---|---|
| 107 | 263362 | Moorhead Branch | 2929 20th Street South, Moorhead, MN 56560 | October 06, 1997 | Full Service Brick and Mortar |  |
| 109 | 359243 | Moorhead Downtown Branch | 305 8th Street South, Moorhead, MN 56560 | October 18, 1999 | Full Service Brick and Mortar | |
| 114 | 495449 | Alexandria Branch | 1630 Broadway St, Alexandria, MN 56308 | June 17, 2009 | Full Service Brick and Mortar | |
| 115 | 495450 | Fergus Falls Branch | 428 West Lincoln Ave, Fergus Falls, MN 56537 | June 22, 2009 | Full Service Brick and Mortar | |
| 28 North Dakota Branches as of April 05, 2012 | ||||||
| No | ID | Name | Address | Established | Service Type | Map |
|---|---|---|---|---|---|---|
| 0 | 40608 | Gate City Bank | 500 Second Avenue North, Fargo, ND 58102 | January 01, 1923 | Full Service Brick and Mortar |  |
| 1 | 263342 | 304 Rosser Avenue Branch | 304 East Rosser Avenue, Bismarck, ND 58502 | January 01, 1923 | Full Service Brick and Mortar | |
| 2 | 263343 | 601 Fourth Street Branch | 601 Fourth Street, Devils Lake, ND 58301 | January 01, 1923 | Full Service Brick and Mortar | |
| 3 | 263344 | 204 Sims St Branch | 204 Simms St., Dickinson, ND 58601 | January 01, 1923 | Full Service Brick and Mortar | |
| 4 | 263345 | Jamestown Branch | 309 2nd Ave Sw, Jamestown, ND 58401 | January 01, 1923 | Full Service Brick and Mortar | |
| 5 | 263346 | 1017 S. Broadway Branch | 1017 S. Broadway, Minot, ND 58701 | January 01, 1923 | Full Service Brick and Mortar | |
| 6 | 263347 | 11 1st St Se Branch | 11 1st St Se, Mayville, ND 58257 | January 01, 1923 | Full Service Brick and Mortar | |
| 7 | 263348 | 720 Main Branch | 720 Main Street, Carrington, ND 58421 | January 01, 1923 | Full Service Brick and Mortar | |
| 8 | 263349 | 802 Dakota Ave Branch | 802 Dakota Ave, Wahpeton, ND 58075 | January 01, 1923 | Full Service Brick and Mortar | |
| 10 | 263351 | 111 South Main St Branch | 111 South Main St, Hettinger, ND 58639 | January 01, 1923 | Full Service Brick and Mortar | |
| 11 | 263352 | 201 Briggs Ave So Branch | 201 Briggs Ave. S., Park River, ND 58270 | January 01, 1923 | Full Service Brick and Mortar | |
| 12 | 263353 | 3909 13th Ave So Branch | 3909 13th Ave. S., Fargo, ND 58103 | January 01, 1923 | Full Service Brick and Mortar | |
| 13 | 263354 | 422 Main Branch | 422 Main Street, Williston, ND 58801 | January 01, 1923 | Full Service Brick and Mortar | |
| 100 | 263355 | 2850 24th Ave. S. Branch | 2850 24th Ave. S., Grand Forks, ND 58206 | January 01, 1923 | Full Service Brick and Mortar | |
| 101 | 263356 | 101 East Main St Branch | 101 East Main St, Mohall, ND 58761 | January 01, 1923 | Full Service Brick and Mortar | |
| 102 | 263357 | Dakota Square Branch | 924 31st Ave Sw, Dakota Square, Minot, ND 58702 | January 01, 1923 | Full Service Brick and Mortar | |
| 103 | 263358 | 2710 State Street Branch | 2710 State Street, Bismarck, ND 58503 | January 01, 1923 | Full Service Brick and Mortar | |
| 104 | 263359 | Demers Avenue Branch | 501 Demers Avenue, Grand Forks, ND 58201 | March 02, 1992 | Full Service Brick and Mortar | |
| 105 | 263360 | 3100 25 St S Branch | 3100 25 St S, Fargo, ND 58103 | April 04, 1994 | Full Service Brick and Mortar | |
| 106 | 263361 | 1501 S. University Drive Branch | 1501 S. University Drive, Fargo, ND 58103 | June 19, 1995 | Full Service Brick and Mortar | |
| 108 | 359168 | Mandan Branch | 405 East Main Street, Mandan, ND 58554 | January 31, 2000 | Full Service Brick and Mortar | |
| 110 | 360520 | West Fargo Branch | 1119 9th Street East, West Fargo, ND 58078 | January 15, 2001 | Full Service Brick and Mortar | |
| 111 | 464568 | 2501 Broadway Branch | 2501 Broadway, Fargo, ND 58102 | December 02, 2002 | Full Service Brick and Mortar | |
| 112 | 464573 | South Washington Grand Forks Branch | 3205 South Washington, Grand Forks, ND 58201 | December 20, 2004 | Full Service Brick and Mortar | |
| 113 | 464577 | 45th Street Fargo Branch | 4151 45th Street S, Fargo, ND 58104 | April 26, 2006 | Full Service Brick and Mortar | |
| 116 | 518109 | Golf Drive Branch | 1725 Golf Drive, Bismarck, ND 58503 | January 08, 2007 | Full Service Brick and Mortar | |
| 117 | 518110 | 32nd South Branch | 1532 32nd Avenue South, Fargo, ND 58103 | November 20, 2009 | Full Service Brick and Mortar | |
| 118 | 522121 | Www.Gatecitybank.com Branch | 500 2nd Ave N, Fargo, ND 58102 | January 02, 2007 | Full Service Cyber | |
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