2012 statement of condition - gate city bank
TRANSCRIPT
2012STATEMENT
OFCONDITION
Mission StatementTo provide a welcoming atmosphere and a
commitment to making the lives of our customers and employees better by investing in them and their
communities For a Better Way of Life.®
For a Better Way of Life.®
On behalf of all of us at Gate City Bank, it is my privilege to present you with
our 2012 Statement of Condition. Gate City Bank was fortunate to see steady growth in our household base and our production volumes throughout 2012. We also maintained our commitment to serving our
customers, communities, and employees.
We are dedicated to building relationships and providing a high level of service to our customers, while also offering account options that save them time and money. In 2012, Gate City Bank:
• remained committed to offering Totally Free Checking, and saw dramatic growth in our checking account program;
• refunded $3 million in ATM fees to our checking customers; and
• provided local mortgage loan servicing so customers contact us directly when they have questions about their payments, taxes, or insurance.
Our commitment to supporting the communities we serve was shown in many ways. In the past year, Gate City Bank:
• renewed our partnership with the City of Fargo’s Neighborhood Revitalization Initiative, and made the largest contribution by a financial institution to the North Dakota Housing Incentive Fund to support affordable housing projects throughout the state; and
• awarded 47 $1,200 scholarships to area high school seniors.
• In total, our charitable impact was more than $2.6 million, including monetary donations, in-kind donations, and the value of our employees’ volunteer hours.
We are also committed to providing a better way of life for our employees. In 2012, Gate City Bank:
• supported employee volunteer efforts, which totaled 16,564 hours;
• continued to offer a comprehensive compensation and benefits plan; and
• created 30 new jobs in North Dakota and western Minnesota.
Gate City Bank is a strong and stable financial institution, and in the past year:
• maintained a solid capital ratio, ending the year at 11.17%; and
• grew to $1.5 billion in assets.
At Gate City’s third annual meeting on July 13, 1926, President W. D. Gillespie said, “I trust in the coming years we shall all look back at these pioneer days with great satisfaction in realizing that we had a part in the inception of an institution which is growing to large proportions and in the coming years shall contribute to the comforts and happiness of a great number of citizens of our state.” At Gate City Bank, we will carry forward the vision our founders had 90 years ago, and will stay true to our mission in the years to come.
Steve Swiontek Chairman, President and CEO
Gate City Bank surpassed $1.5 billion in assets in 2012, continuing a steady pattern of growth while maintaining a capital ratio that far exceeds the amount required by regulators to ensure stability. The Bank has remained
committed to serving North Dakota and western Minnesota, and its asset growth is based on loans provided for customers in local communities. Gate City Bank has the strength and stability to be a safe and sound bank for years to come.
Strength for the Future
ACTUAL CAPITAL COMPARED TO REQUIRED CAPITAL12/31/2012
Gate City Bank surpassed $1.5 billion in assets in 2012.
Gate City BankCondensed Statement of Condition
12/31/2012
Assets 1-4 Family Mortgage Loans ................................ $619,543,000
Personal Loans ....................................................... 515,138,000
Commercial and Multi-family Loans ...................... 31,456,000
Loan-backed Securities ........................................... 57,596,000
Cash and Investment Securities ............................ 260,116,000
Federal Home Loan Bank Stock ................................ 1,684,000
Buildings and Equipment ....................................... 36,748,000
Real Estate and Repossessed Assets ............................ 942,000
Interest Receivable .................................................... 3,861,000
Other Assets ............................................................. 10,739,000
Total Assets ............................................. $1,537,823,000 Liabilities & Net Worth Deposits ............................................................ $1,321,524,000
Borrowings ............................................................................... 0
Escrow Deposits ....................................................... 19,587,000
Interest Payable ......................................................... 2,647,000
Other Liabilities ....................................................... 21,960,000
Total Liabilities .......................................... 1,365,718,000 Net Worth .............................................................. 172,105,000
Total Liabilities & Net Worth .................. $1,537,823,000
Board of DirectorsRodney A. Larson Year First Elected, 1991 Chief Health Policy Officer, American Academy of Neurology
Steven J. Swiontek Year First Elected, 2000 Chairman of the Board, President and Chief Executive Officer, Gate City Bank
Darrell R. Tukua Year First Elected, 2005 Retired CPA
Shirley S. Montgomery Year First Elected, 2006 Retired Bank Executive
Dennis J. Elbert Year First Elected, 2008 Dean of the College of Business and Public Administration, University of North Dakota
J. Patrick Traynor Year First Elected, 2011 President, Dakota Medical Foundation
Board of DirectorsPictured L-R: Shirley S. Montgomery, Dennis J. Elbert, Rodney A. Larson, Steven J. Swiontek, J. Patrick Traynor, and Darrell R. Tukua
Executive Management Pictured L-R: Allan E. Erickson, Maureen E. Jelinek, Kevin J. Hanson, Steven J. Swiontek, Kimberly R. Shuckhart, and Lance R. Wolf
Vision StatementTo be perceived as the hometown bank that
provides a better way of life for its customers, communities, and employees.
Corporate Management
Office Management
Chairman, President, & Chief Executive Officer Steven J. Swiontek
Executive Vice Presidents Allan E. Erickson Chief Financial Officer
Kevin J. Hanson Director of Lending
Maureen E. Jelinek Director of Operations
Kimberly R. Shuckhart Director of Human Resources & Marketing
Lance R. Wolf Director of Retail Banking
Senior Vice Presidents Thomas B. Jabens Information Technology Manager
Neil K. Schroeder Personal Lending Manager
Vice Presidents Susan K. Anderson Loan Service Manager
James A. Hillerson Treasurer/Investment Portfolio Manager
Patricia A. Kotta Controller
Jay C. Krabbenhoft Office Services Manager/Security Officer
Vice Presidents Tavia K. Smith Virtual Office Manager
Janess R. Sveet Marketing Manager
Assistant Vice Presidents Jennifer L. Dirk Deposit Administration & Servicing Manager
Todd D. Olson Financial Planning Manager
Kevin M. Warner Business Lending Manager
Internal Auditor Shelly A. Lindlauf
Corporate Secretary Delene V. Gunderson
Senior Vice Presidents Barbara R. Bertschi West Fargo/Village West Office Manager
Jeffrey M. Peterson Grand Forks/Mayville Office Manager
David C. Wrolstad Fargo Downtown/South University/North Fargo/Southgate Office Manager
Vice Presidents Timothy R. Brumfield Dickinson/Hettinger Office Manager
Norman W. Clark Bismarck Country West/Mandan Office Manager
Vice Presidents Greg W. Ellwein Bismarck Downtown/Gateway Office Manager
Scott R. Hare Jamestown/Carrington Office Manager
Peggy A. Johnson Minot/Mohall Office Manager
Michael P. Lee Wahpeton Office Manager
Roxanne R. Llewellyn Williston Office Manager
Assistant Vice Presidents Scott T. Duberowski Alexandria Office Manager
Kristi R. Persons Southpointe/Osgood Office Manager
Chad D. Peterson Devils Lake Office Manager
Susan L. Phelps Park River Office Manager
Aaron G. Sletten Fergus Falls Office Manager
Sherri M. Smith Moorhead Office Manager
The Bank’s checking customers saved $3 million in 2012 when Gate City Bank automatically refunded their ATM fees.
Gate City Bank provides excellent service to its customers, and offers them products and services that will save them time and money. The Bank’s checking customers saved $3 million in 2012 when Gate City Bank automatically refunded their ATM fees. Gate City Bank has saved its customers more than $10.5 million since it began refunding ATM fees in 2006. Personal checking customers also enjoy the
convenience the Bank offers through its online services, including the ability to access their accounts through the Bank’s Mobile Banking, Text Banking, and Mobile App. Gate City Bank serves its loan customers after their mortgage loan closes. Gate City Bank provides local mortgage loan servicing so customers can call the Bank directly when they have questions about their payments, taxes, or insurance.
Serving Our Customers
Gate City Bank received a Champion of Affordable Housing award from the North Dakota Housing Finance Agency in recognition of excellence and dedicated service in providing homeownership opportunities in 2012.
In 2012, the Bank saved its checking customers$3 million by automatically refunding their ATM fees,
without requiring them to turn in their receipts.Gate City Bank has saved its customers more than
$10.5 million since it began refunding ATM fees in 2006.
Top: Grand Forks community members voted Gate City Bank Best Bank in the Grand Forks Herald’s People’s Choice awards. Pictured are Gate City Bank employees Becky Mindeman, Jeff Peterson, Lori Tweten, and Kevin Praska.
Bottom: As a Loan Service Representative, Trena Lindemann helps customers directly when they have a question about their loan.
As one of the few banks that provides local mortgage
loan servicing, customers call the Bank directly when they have questions about
their payments, taxes, or insurance.
Giving Back to Our CommunitiesGate City Bank is dedicated to giving back to its communities through public-private partnerships and charitable contributions. The Bank’s charitable impact totaled more than $2.6 million in 2012, including monetary contributions, in-kind contributions, and the value of employees’ volunteer hours. Gate City Bank invested in the youth of the communities it serves by awarding 47 $1,200 scholarships to area
high school seniors in 2012. Since the Gate City Bank Community Scholarship Program began, the Bank has awarded $635,600 to help 548 students pursue higher education. The Bank supported affordable housing by renewing its commitment to the City of Fargo’s Neighborhood Revitalization Initiative and by making the largest contribution by a financial institution to the North Dakota Housing Incentive Fund.
The Bank’s charitable impact totaled more than $2.6 million in 2012.
The Association of Fundraising Professionals Northern Plains Chapter presented Gate City Bank with their Corporate Leadership in Philanthropy Award in recognition of the Bank’s contributions to charitable organizations across North Dakota and Minnesota, as well as for employees’ commitment to volunteering their time.
Top: Gate City Bank Chairman, President and CEO Steve Swiontek spoke at a dedication ceremony at the start of the fall 2012 semester for Gate City Bank Auditorium at NDSU. Gate City Bank’s $500,000 sponsorship allowed the 1960s-era auditorium to undergo an extensive renovation to modernize the facility.
Bottom: Gate City Bank contributed $1.25 million to the North Dakota Housing Incentive Fund to support development of affordable housing projects in several communities across North Dakota. Retired Director of Lending Blaise Johnson presented a check in Williston to North Dakota Housing Finance Agency Executive Director Mike Anderson and North Dakota Lieutenant Governor Drew Wrigley.
Gate City Bank employs 442 people across North Dakota and western Minnesota.
Gate City Bank collected school supplies in many communities across North Dakota and western Minnesota. Assistant Controller Jennifer Houim and Controller Pat Kotta stand with supplies donated by Gate City Bank Corporate Office employees for the United Way of Cass-Clay School Supply Drive.
Gate City Bank continued its commitment to the City of Fargo Neighborhood Revitalization Initiative by creating a new $2 million loan pool in 2012. Here, Gate City Bank Chairman, President, and CEO Steve Swiontek presents a check to Fargo Mayor Dennis Walaker.
Gate City Bank partnered with Prairie Public to collect donated sweaters for the Mister Rogers’ Neighborhood Sweater Drive. In total, 2,115 sweaters were collected and donated to area organizations. Here, Dickinson Customer Service Representative Ashley Hecker delivers some of the donated sweaters.
Gate City Bank established a $500,000 endowment to support pediatric oncology at the Roger Maris Cancer Center. Pictured are children with a thank you note made to recognize Gate City Bank for this contribution.
Gate City Bank encourages its employees to be active in their communities and offers them paid time off
to volunteer. In 2012, Gate City Bank employees volunteered a total of 16,564 hours.
Gate City Bank’s growth has helped the Bank provide additional jobs, employing 442 individuals in North Dakota and western Minnesota. The Bank supports its employees by providing attractive compensation, incentives, and benefits, as well as a stable and comfortable work environment. The Bank also offers
a variety of programs to help employees support charitable organizations by matching their donations and volunteer efforts and offering them paid time off to volunteer. In 2012, Gate City Bank employees volunteered a total of 16,564 hours of their time and talent to a variety of organizations.
Supporting Our Employees
Office Services Manager Jay Krabbenhoft and his wife, Shari, volunteer to support international student programs. North Dakota State University’s Equity, Diversity, and Global Outreach division presented Jay with a Green and Golden Globe Diversity Award in recognition of these efforts.
Director of Lending Kevin Hanson and his wife, Susan, supported The Salvation Army by ringing a bell at a Fargo-area kettle.
Fargo South University Customer Service Representative Carly Kalina was part of a team of Gate City Bank employees who participated in the United Way of Cass-Clay Day of Caring, to assist area seniors with fall yard work and home maintenance projects.
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