Gate City Bank
Gate City Bank is a mutual bank headquartered in Fargo, North Dakota, with 45 branches across 23 communities in North Dakota and central Minnesota. Founded in 1923, the bank manages assets of $3.8 billion and has more than 770 employees. Gate City Bank is a member of the Federal Deposit Insurance Corporation and an equal housing lender.
History and leadership
Gate City Bank was founded on July 2, 1923, by William Gillespie and seven others as Gate City Building & Loan Association. The name was inspired by the "Gateway to the West" nickname the railroad gave Fargo in 1872. Their goal was to help working-class families own homes. As a mutual bank, Gate City Bank is owned by its customers, sometimes called members.Major Historical Events
| Year | Event |
| 1923 | Bank chartered as Gate City Building & Loan Association. |
| 1954 | Bank renamed Gate City Savings and Loan Association |
| 1956 | Bank builds headquarters on Fifth Street and Second Avenue in downtown Fargo |
| 1957 | Bank expands into Minot, North Dakota |
| 1959 | Bank expands into Dickinson, North Dakota and opens a branch in Devils Lake, North Dakota |
| 1973 | Bank launches a "better Way of Life" campaign by donating funds to community causes |
| 1974 | Bank opens Gate City Insurance Agency as well as four new locations |
| 1975 | Bank changes logo to current logo, representing the sun, dependability, and "dreams made real by saving" |
| 1976 | Bank expands into Grand Forks, North Dakota |
| 1982 | Bank renamed Gate City Federal Savings and Loan |
| 1984 | Bank becomes first in North Dakota to offer adjustable-rate mortgages |
| 1986 | Bank changed company type to mutual bank and name to Gate City Federal Savings Bank |
| 1990 | The bank launches Totally Free Checking, which was a new concept at the time. |
| 1997 | Bank expands into Moorhead, Minnesota |
| 2000 | Name changed to Gate City Bank |
| 2009 | Bank expands into Minnesota |
| 2012 | Bank starts offering business banking and financial planning services |
| 2020 | Bank expands into Coborn's, Inc., grocery stores |
Executive Leadership
Gillespie served as present of the bank until 1931 and as a member of the board of directors until 1937. In 1954, the bank named Albert Bergeson president after H.A. Thompson stepped down. Bergeson served on the board from 1930 to 1970. In 1966, the bank named John Whittlesey president, who was replaced by Dennis Unruh in 1982. In 1991, Bob Anderson becomes president and CEO.In 2000, the bank appointed Steven Swiontek President and Chief Executive Officer. He started with the bank in 1978 and under his leadership, the bank grew from 16 locations to 43 and from 148 employees to over 700.
In 2019, Gate City Bank named Kevin Hanson the new president and CEO. Hanson was chief operating officer and had worked at Gate City Bank since 1983.
Other executive leadership includes:
- Amy Durbin, Executive Vice President, Chief Marketing Officer
- Chris Lee, Executive Vice President, Chief Financial Officer
- Eric Malchodi, Executive Vice President, Chief Risk Officer
- Jessica Ebeling, Executive Vice President, Chief Digital & Payment Officer
- Kim Settel, Executive Vice President, Chief Retail Banking Officer
- Ryan Goellner, Executive Vice President, Chief Information Officer
- Heather Rye, Executive Vice President, Chief Human Resources Officer
Board of Directors
- Swiontek, board chair
- Hanson
- Rodney Larson, a retired chief health policy officer for the American Academy of Neurology
- J. Patrick Traynor, president of Dakota Medical Foundation
- Sindy Keller, a retired controller and senior accountant for Brandt Holdings Company
- Kim Meyer, former executive vice president and chief human resources officer, who worked at the bank for 37 years and in the 1990s was the first woman to join the bank's executive leadership team
Company culture
Since 2003, the bank has donated more than $45 million toward charitable causes and employees have volunteered more than 338,000 hours.
In 2025, the bank established a zero-interest, no-fee loan called the "BetterLife Relief Loan" to help federal government employees affected by the 2025 United States federal government shutdown.
The bank has multiple initiatives that support veterans, including:
- Providing benefits such as full pay and uninterrupted insurance during active duty and training and two weeks of transition time upon returning home.
- Establishing a military support committee.
- Serving as a drop-off location for Quilts for Veterans, a partnership between the bank and the American Red Cross to collect and distribute quilts and fleece blankets to veterans in VA hospitals, care facilities, and at stand-down events.
Awards and recognition
Gate City Bank has been recognized with multiple awards for culture and service.The bank has received a five-star rating from BauerFinancial every year since 1996. Ratings are based on financial data compiled for U.S. banks and thrifts as reported to federal regulators. Five-star ratings are considered superior, and financial institutions with these ratings are recommended by Bauer.
Bankrate has listed Gate City Bank in its list of best banks by state or region for banking satisfaction according to J.D. Power's recently released U.S. Retail Banking Satisfaction Study.
Prairie Business Magazine has named the bank one of the "50 Best Places to Work" every year since 2013. The contest is based on nominations through anonymous employee satisfaction surveys and open to companies in North Dakota, South Dakota, and western Minnesota. Companies are rated by benefits, culture, and personal job satisfaction.
Forbes has ranked the bank #4 in the United States on its World's Best Banks list, based on customer satisfaction and service quality.
In 2022, the bank received the Secretary of Defense Employer Support Freedom Award for exceptional support of National Guard and Reserve members.
Gate City Bank made Money's list of Best Midwest Banks and Credit Unions of 2026 for "Best for CDs" based on offerings, fees, and customer service.
Partnerships
Because it's a mutual bank, a type of financial institution owned by its customers, making a difference in the communities where the bank operates is a large part of their mission.Gate City Bank has partnered with North Dakota State University on numerous sponsorships, including:
- Gate City Bank Field, home of NDSU Bison football at the Fargodome.
- Aldeveron Tower, a research facility designed to help address the shortage of health care workers.
- Richard H. Barry Hall, NDSU's College of Business hub in downtown Fargo.
- Gate City Bank Auditorium, a lecture hall on NDSU's campus.
- Gate City Bank Fueling Station, where student athletes can get nutritional advice at the Sanford Health Athletic Complex.
In 2021, the bank partnered with Lutheran Church of the Cross, YWCA Cass Clay, and Great Plains Food Bank to establish the West Fargo Eats Food Share Alliance in West Fargo, North Dakota that allows people experiencing food insecurity to shop for what they need based on available donated items. The bank also funded a van, so West Fargo Eats could start the Agency Enabled Retail Rescue program, a type of food rescue that picks up extra food from local stores and brings it to people in need.
In 2022, the bank started a low-interest BetterLife Child Care Business Loan to help address childcare shortages in North Dakota and central Minnesota by making it easier for childcare providers to expand.
Gate City Bank also partners with organizations such as the American Red Cross on its Sound the Alarm initiative to teach homeowners about fire safety and install free smoke alarms, Dakota Medical Foundation to provide matching funds and surprise charities with large donations on Giving Hearts Day, and Mission of Mercy to help people with low-income access free dental care.