Gate City Bank continues to help customers

K. William Boyer
Devils Lake Journal

Gate City Bank continues to help customers

DEVILS LAKE, ND – During difficult times, extending a helping hand to those in need leads to healing. Gate City Bank has spent the past 98 years creating a better way of life for customers, communities and team members. This hasn’t changed throughout the last year of the COVID-19 pandemic, especially in Devils Lake.

Two hands are raised up, trying to catch money falling from the sky.

“Gate City Bank is passionate about serving the people of Devils Lake,” said Julie Lamb, Vice President of Retail Banking. “We’re very thankful to live and work here, and over the past year we’ve been proud to continue helping customers, communities and team members create a better way of life during challenging circumstances.”

Gate City Bank believes in giving back to the communities where team members live and work. In the past year, the Bank donated more than 30,000 of its blue tote bags to students transferring home-learning materials. It also gave away 25,000 hand sanitizers and 63,000 face masks.

Whether it was delivering pizza to heroic health care workers, displaying #WorldOfHearts support in windows or supporting local businesses by purchasing gift cards and distributing them to team members, Gate City Bank’s locations have let communities know everyone is in this together.

Additionally, the Bank donated approximately $6,000 toward community efforts provided by the following organizations and others in Devils Lake and the surrounding area throughout the past year:

·        Rotary Club of Minot

·        Devils Lake Public Schools

·        S.W.A.T Golf Scramble

·        CHI St. Alexius Health

·        Devils Lake Chamber of Commerce

·        American Foundation for Suicide Prevention

·        Michigan Duffers Club

·        Xtreme Signs

·        Jason Olson Benefit

·        Camp Grafton

·        Lunacy Motorcycle Vets Run

·        Nexus-PATH Family Healing

·        Devils Lake Park Board

·        Benson County Sheriff’s Office

The Paycheck Protection Program (PPP) has had a significant impact on businesses in Devils Lake and throughout North Dakota. This Small Business Administration (SBA) loan program 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.

The Financial Times recently reached out to Gate City Bank to learn more about how the PPP program has been so successful in North Dakota. In 2020, North Dakota processed more PPP loans than any other state, and Gate City Bank processed more loans than any other bank in the state (loans under $150,000), helping over 2,100 businesses in more than 250 industries. This resulted in a $74 million overall impact.

K. William Boyer is the Managing Editor of the Devils Lake News Journal. He can be reached at kboyer@gannett.com, or by phone at (701) 662-2127.  

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