$1.6 Million Reinvestment from Tax Reduction
Providing a Better Way of Life to Communities, Customers and Employees
On Friday, the President signed a law that will be effective in 2018 which provides a tax reduction to companies such as Gate City Bank. As the financial leader in North Dakota and west central Minnesota, we are committed to providing a better way of life. This new tax reduction enables us to make decisions that benefit our customers, communities and team members in a significant way which has been our culture for decades. Gate City Bank is making a commitment to reinvest an additional $1.6 million in 2018.
As the number one mortgage lender, we believe in delivering a WOW experience for our customers. Starting January 1st, we will be providing $500,000 in FREE home appraisals! This is for all customers (existing or new) who would like to remodel, purchase or refinance their primary residence or vacation home. Appraisals are valued at approximately $600. This gift will make a difference in our customer's lives by giving them the opportunity to invest in their home. We are committed to helping individuals build a future in our communities.
Giving back and volunteering is extremely important to us. We want to continue our passion for making a difference through giving. Since 2005, we have volunteered over 174,000 hours and donated over $19.8 million to help build a better quality of life in the communities we serve. In 2018, we will be donating an extra $500,000 to our communities! This is in addition to our current commitment of over $1 million including $300,000 for Giving Hearts Day charities on February 8th to celebrate our 95th anniversary across North Dakota and west central Minnesota.
We are grateful to all of our employees for everything they to do make a difference for our customers and communities. As a thank you for our employees' hard work and dedication, we will be providing our 538 employees with $1,000 each, giving back over $625,000. Every employee will be hand-delivered a check for a net amount of $1,000 on January 15th. Executive Leadership, Regional Leaders, Office Managers and Department Managers are not eligible. This is above and beyond general compensation.