Gate City Bank

Founded on July 2, 1923 in Fargo, the largest city in North Dakota, the Roaring Twenties were not kind to banking institutions. In 1922 alone, North Dakota bank failures resulted in losses of $50 million – about one-third of total deposits. The bank that would become Gate City Bank, however, was founded with great vision, and with even greater values. By 1930, the bank topped $1 million in assets. Focusing on the mission of assisting its depositors, large and small, the bank focused through the dark days of the Great Depression and World War II while continuing to reimagine and innovate with novel services and charitable assistance to the growing communities within an ever growing reach throughout North Dakota. 


By 1968, Gate City had more than $100 million in assets. Expansion beyond North Dakota included Utah and Myrtle Beach, South Carolina and eventually western Minnesota. Though the bank learned important lessons during this period, one steadfast philosophy would be never compromised – the bank would always be a mutual bank, freed from quarterly financial statements and shareholder distractions. The bank has always taken a long view of its programs and focus on benefitting its customers and depositors, along with the communities within its expanding banking footprint. 


Today, many of Gate City’s pioneering financial products have become the envy of banks throughout the industry, from totally free checking, to BetterLife™ Student Loan relief and assistance, to ATM usage without fees – Gate City has consistently surpassed the expectations of both its customers and its employees. An inspired progression of thoughtful leadership, Gate City has become among the most admired financial institutions in the nation.


This enhanced eBook features video links and embedded audio quotes from executives, retirees, and key stakeholders who were interviewed during the research for this book.