graphic depicting Forbes ranking Gate City Bank the number 4 bank in the U.S. for 2021

Gate City Bank Ranks #4 in US on Forbes’ 2021 List of World’s Best Banks

Forbes has placed Gate City Bank at #4 on its 2021 list of World’s Best Banks due to the bank’s success in earning customer trust, delivering innovative services, providing exceptional financial advice and other factors. The publication also voted Gate City Bank as the best bank in North Dakota.

“This is truly an incredible honor, and it’s all because of the amazing team members at Gate City Bank,” says Kevin Hanson, President & CEO. “Their hard work, philanthropic spirit and dedication to upholding our mission and Principles of High Standards make a difference every day.”

How Gate City Bank Made the 2021 List of World’s Best Banks:

Whether it’s providing company time to volunteer with a charity of choice, fostering a workplace culture that’s based around having fun, constantly giving back to communities or promoting diversity and innovation, Gate City Bank truly provides a better way of life, and it comes from empowering people to make a difference.

Plus, everything Gate City Bank team members do is shaped by the bank’s Principles of High Standards:

  • Make a Difference

    Give back to communities by making an impactful difference through volunteerism and philanthropic giving.

  • Customer Obsession

    Exceed expectations by going above and beyond. Listen, delight, enhance and personalize experiences from beginning to end across all channels for customers, communities and team members.

  • Be a Leader

    Lead with integrity, honesty and innovation to maintain financial leadership with competitive products, services and experiences.

  • Embrace Data and Innovation

    Explore and be curious about new possibilities to create and foster innovation to support strategic goals.

  • Sense of Urgency

    Act with a sense of urgency to proactively initiate positive change, allowing Gate City Bank to remain the financial leader.

  • Commitment to Compliance

    Ensure accountability to high standards of compliance and risk mitigation through successful execution of policies, procedures, processes and applicable laws and regulations.

Forbes also recognized Gate City Bank’s innovative products and services. The bank is changing the industry through innovation that creates a better way of life for customers, communities and team members. Some examples include:

  • FREE ATMs anywhere: Checking customers enjoy unlimited ATM fee refunds – worldwide. This has saved customers more than $43 million in fees!
  • BetterLife™ Student Loan: The first and only program of its kind in the nation, it helps people pay off student loans faster. It features no fees and a low interest rate. Since 2015, Gate City Bank has helped nearly 3,000 customers save more than $28 million in student loan interest.
  • My School Spirit Debit Cards: For loyal fans, Gate City Bank offers debit cards that have high school and college colors and mascots. The bank donates $10 for every card ordered. It has donated over $155,000 to local high schools and colleges through this program.

Forbes also recognized Gate City Bank’s heavy focus on community giving:

$30.6M
In Philanthropic Giving
250,000
Hours of Team Volunteerism
99
Years of Community Involvement

The bank also promotes team member empowerment, leadership diversity and an amazing workplace culture where one-third of referrals for new team members come from existing team members.

In addition to recognizing these unique aspects of Gate City Bank’s culture, Forbes especially lauded the bank’s robust and timely response to the COVID-19 pandemic.

Processing the Most PPP Loans in North Dakota During the Pandemic.

In addition to solid business practices deployed as part of its normal day-to-day operations, Gate City Bank’s community response to the COVID-19 pandemic was significant in Forbes’ ranking decision.

The Paycheck Protection Program (PPP) is a Small Business Administration (SBA) loan that was established as part of the Coronavirus Aid, Relief, and Economic Security (CARES) Act. It provides small businesses with the resources they need to maintain payroll, hire back employees who may have been laid off and cover applicable overhead.

During the past year of the pandemic, Gate City Bank has helped over 2,100 businesses with more than 2,600 PPP loans, benefiting 252 industries and resulting in a $74 million overall impact.

“Local businesses and entrepreneurs help keep communities strong,” says Kevin Warner, Senior Vice President of Business Banking. “Gate City Bank has been proud to stand with them throughout the pandemic, creating a better way of life for our communities by delivering an innovative and seamless PPP loan process.”

This unique program has been incredibly successful in North Dakota, which had the highest concentration of PPP funds per private sector worker compared to any other state during the first round of loans in 2020. During that same period, Gate City Bank processed more loans under $150,000 than any other bank in North Dakota.

Helping Customers With Personal Loans That Totaled Over $1 Million.

In the wake of the pandemic, the bank’s BetterLife Loan, for example, provided access to emergency funds for customers who suffered a job loss or a significant income-related event. The bank helped over 400 people with this program alone, making a $1.3 million impact overall throughout the year.

Gate City Bank’s commitment to helping customers has set it apart, especially during times of emergency such as government shutdowns, floods and the COVID-19 pandemic. The bank’s pandemic-related personal loans* came with a very low interest rate and no fees, helping people create a better way of life in difficult circumstances.

The bank also offered loan deferrals for those whose livelihood was heavily impacted by COVID-19. It processed more than 6,700 loan extensions for customers.

“While the pandemic presented many hurdles, Gate City Bank never lost hope,” Warner says. “Instead, our team members saw an opportunity to increase community giving for those who needed it most.”

The Path Forward.

Forbes has recognized that, for nearly a century, Gate City Bank has been committed to helping customers, communities and team members create a better way of life. According to the bank’s leadership, that vision will never change, and Gate City Bank looks forward to making a difference through giving and innovation for years to come, while continuing to be one of the World’s Best Banks.

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About Us

At Gate City Bank, we have a wonderful story to tell. It's aligned with our core purpose, focusing on investing in our customers, communities and team members. Learn more about us!

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Our People

At Gate City Bank, our customers, communities and team members inspire everything that we are – they’re our people. Learn more about them through heartwarming stories and testimonials!

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Our Commitment

At Gate City Bank, giving back to the communities where we live and work is at the core of who we are. Learn about all the innovative ways we’re making a difference throughout North Dakota and central Minnesota.