Gate City Bank in Fargo, North Dakota (ND), MN
Overview, Financial Summary, Detailed Financial Reports, Branches


  • Gate City Bank in Fargo, North Dakota (ND), MN
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Gate City Bank - Overview

  • 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)

1992 - 1999 Historical total assets, liabilities and capital ($ mil)

2000 - 2011 Historical total assets, liabilities and capital ($ mil)

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Historical total employees (full-time equivalent)

Assets and Liabilities (December 31, 2011)

  • Dollar figures in thousands
  • 345Total employees (full-time equivalent)
  • $1,403,013Total assets
  • $240,655Cash and due from depository institutions
  • $228,490Interest-bearing balances
  • $64,662Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $1,045,373Net loans & leases
  • $8,693Loan loss allowance
  • $0Trading account assets
  • $35,894Bank premises and fixed assets
  • $1,161Other real estate owned
  • $6,220Goodwill and other intangibles
  • $1,403,013Life insurance assets
  • $9,048All other assets
  • $1,246,239Total liabilities and capital
  • $1,231,488Total liabilities
  • $1,208,609Total deposits
  • $1,231,488Interest-bearing deposits
  • $93Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $0Other borrowed funds
  • $14,751Subordinated debt
  • $156,774All other liabilities
  • $156,774Total equity capital
  • $156,774Total bank equity capital
  • $0Perpetual preferred stock
  • $0Common stock
  • $0Surplus
  • $156,774Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $2,287Income earned, not collected on loans
  • $335Earning assets
  • $3,686Long-term assets (5+ years)
  • $1,338,525Average Assets, year-to-date
  • $0Average Assets, quarterly
  • $1,304,550Volatile liabilities
  • $1,374,113Insider loans
  • $839,784FHLB advances
  • $1,402,803Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $156,637Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $70,177Restructured Loans and leases
  • $1,241Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $51,318Total interest income
  • $10,035Total interest expense
  • $41,283Net interest income
  • $2,949Provision for loan and lease losses
  • $19,829Total noninterest income
  • $0Fiduciary activities
  • $15,027Service charges on deposit accounts
  • $0Trading account gains & fees
  • $4,802Additional noninterest income
  • $41,308Total noninterest expense
  • $20,040Salaries and employee benefits
  • $8,335Premises and equipment expense
  • $12,933Additional noninterest expense
  • $16,855Pre-tax net operating income
  • $0Securities gains (losses)
  • $6,441Applicable income taxes
  • $10,414Income before extraordinary items
  • $0Extraordinary gains - net
  • $10,414Net income attributable to bank
  • $0Net charge-offs
  • $10,414Cash dividends
  • $1,193Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.13%Yield on earning assets
  • 0.81%Cost of funding earning assets
  • 3.32%Net interest margin
  • 1.60%Noninterest income to earning assets
  • 3.32%Noninterest expense to earning assets
  • 0.80%Net operating income to assets
  • 0.80%Return on assets (ROA)
  • 1.29%Pretax return on assets
  • 6.88%Return on equity (ROE)
  • 6.88%Retained earnings to average equity (YTD only)
  • 0.12%Net charge-offs to loans
  • 247.19%Credit loss provision to net charge-offs
  • 16.60%Efficiency ratio
  • 67,594Assets per employee
  • 4.07%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 0.82%Loss allowance to noncurrent loans
  • 380.10%Noncurrent assets plus other real estate owned to assets
  • 0.25%Noncurrent loans to loans
  • 0.22%Net loans and leases to deposits
  • 84.89%Net loans and leases to core deposits
  • 86.80%Equity capital to assets
  • 11.17%Core capital (leverage) ratio
  • 11.17%Tier 1 risk-based capital ratio
  • 18.65%Total risk-based capital ratio
  • Memoranda
  • $20Average assets
  • $1,304,550Average earning assets
  • $151,352Average equity
  • $1,242,411Average loans

List of branches

  • 4 Minnesota Branches as of April 05, 2012
    • NoIDNameAddressEstablishedService TypeMap
    107263362Moorhead Branch2929 20th Street South, Moorhead, MN 56560October 06, 1997Full Service Brick and Mortar
    109359243Moorhead Downtown Branch305 8th Street South, Moorhead, MN 56560October 18, 1999Full Service Brick and Mortar
    114495449Alexandria Branch1630 Broadway St, Alexandria, MN 56308June 17, 2009Full Service Brick and Mortar
    115495450Fergus Falls Branch428 West Lincoln Ave, Fergus Falls, MN 56537June 22, 2009Full Service Brick and Mortar
  • 28 North Dakota Branches as of April 05, 2012
    • NoIDNameAddressEstablishedService TypeMap
    040608Gate City Bank500 Second Avenue North, Fargo, ND 58102January 01, 1923Full Service Brick and Mortar
    1263342304 Rosser Avenue Branch304 East Rosser Avenue, Bismarck, ND 58502January 01, 1923Full Service Brick and Mortar
    2263343601 Fourth Street Branch601 Fourth Street, Devils Lake, ND 58301January 01, 1923Full Service Brick and Mortar
    3263344204 Sims St Branch204 Simms St., Dickinson, ND 58601January 01, 1923Full Service Brick and Mortar
    4263345Jamestown Branch309 2nd Ave Sw, Jamestown, ND 58401January 01, 1923Full Service Brick and Mortar
    52633461017 S. Broadway Branch1017 S. Broadway, Minot, ND 58701January 01, 1923Full Service Brick and Mortar
    626334711 1st St Se Branch11 1st St Se, Mayville, ND 58257January 01, 1923Full Service Brick and Mortar
    7263348720 Main Branch720 Main Street, Carrington, ND 58421January 01, 1923Full Service Brick and Mortar
    8263349802 Dakota Ave Branch802 Dakota Ave, Wahpeton, ND 58075January 01, 1923Full Service Brick and Mortar
    10263351111 South Main St Branch111 South Main St, Hettinger, ND 58639January 01, 1923Full Service Brick and Mortar
    11263352201 Briggs Ave So Branch201 Briggs Ave. S., Park River, ND 58270January 01, 1923Full Service Brick and Mortar
    122633533909 13th Ave So Branch3909 13th Ave. S., Fargo, ND 58103January 01, 1923Full Service Brick and Mortar
    13263354422 Main Branch422 Main Street, Williston, ND 58801January 01, 1923Full Service Brick and Mortar
    1002633552850 24th Ave. S. Branch2850 24th Ave. S., Grand Forks, ND 58206January 01, 1923Full Service Brick and Mortar
    101263356101 East Main St Branch101 East Main St, Mohall, ND 58761January 01, 1923Full Service Brick and Mortar
    102263357Dakota Square Branch924 31st Ave Sw, Dakota Square, Minot, ND 58702January 01, 1923Full Service Brick and Mortar
    1032633582710 State Street Branch2710 State Street, Bismarck, ND 58503January 01, 1923Full Service Brick and Mortar
    104263359Demers Avenue Branch501 Demers Avenue, Grand Forks, ND 58201March 02, 1992Full Service Brick and Mortar
    1052633603100 25 St S Branch3100 25 St S, Fargo, ND 58103April 04, 1994Full Service Brick and Mortar
    1062633611501 S. University Drive Branch1501 S. University Drive, Fargo, ND 58103June 19, 1995Full Service Brick and Mortar
    108359168Mandan Branch405 East Main Street, Mandan, ND 58554January 31, 2000Full Service Brick and Mortar
    110360520West Fargo Branch1119 9th Street East, West Fargo, ND 58078January 15, 2001Full Service Brick and Mortar
    1114645682501 Broadway Branch2501 Broadway, Fargo, ND 58102December 02, 2002Full Service Brick and Mortar
    112464573South Washington Grand Forks Branch3205 South Washington, Grand Forks, ND 58201December 20, 2004Full Service Brick and Mortar
    11346457745th Street Fargo Branch4151 45th Street S, Fargo, ND 58104April 26, 2006Full Service Brick and Mortar
    116518109Golf Drive Branch1725 Golf Drive, Bismarck, ND 58503January 08, 2007Full Service Brick and Mortar
    11751811032nd South Branch1532 32nd Avenue South, Fargo, ND 58103November 20, 2009Full Service Brick and Mortar
    118522121Www.Gatecitybank.com Branch500 2nd Ave N, Fargo, ND 58102January 02, 2007Full Service Cyber

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