Lenders › Gate City Bank › Minnesota
Gate City Bank in Minnesota
HMDA record for properties in Minnesota, calendar year 2024. National record · Minnesota overview
HMDA data alone cannot be used to determine whether a lender is complying with fair lending laws. The data do not include some legitimate credit risk considerations for loan approval and loan pricing decisions. Cells under 25 applications are withheld.
Gate City Bank's 2024 HMDA record for Minnesota covers 881 applications, 680 of them originated, worth $129m.
Its denial rate in the state was 12.1%, below the Minnesota rate of 16.9% across all lenders and compared with the lender's national rate of 13.3%.
The median rate spread on its Minnesota originations was 0.2 percentage points (state median 0.4).
Applications in the state were up 8% on 2023.
Compared with the state and the lender's national record
| Measure | In Minnesota | Minnesota, all lenders | Gate City Bank, all states | United States |
|---|---|---|---|---|
| Denial rate | 12.1% | 16.9% | 13.3% | 24.3% |
| Median rate spread, pp | 0.2 | 0.4 | 0.3 | 0.3 |
| Originations with spread of 1.5 pp or more | 13.1% | 13.2% | 12.0% | 15.6% |
| Average originated loan | $190k | $269k | $184k | $329k |
| Home purchase share | 48.8% | 60.9% | 46.2% | 57.0% |
| FHA-insured share | 2.8% | 7.9% | 5.7% | 13.4% |
| VA-guaranteed share | 1.6% | 4.6% | 2.3% | 7.9% |
Trend by year
ApplicationsOriginations
This lender in stateMinnesota, all lenders
Loan purpose and loan type in Minnesota
By purpose
Home purchase 49% (332)Home improvement 23% (157)Refinancing 10% (71)Cash-out refinancing 2% (14)Other purpose 16% (106)
By type
Conventional 95% (647)FHA 3% (19)VA 2% (11)USDA 0% (3)
Denial reasons as coded
Share of 95 denials in Minnesota by first denial reason coded (outlined bar: all lenders in the state).
Counties in Minnesota
| County | Applications | Originations | Amount | Denial rate |
|---|---|---|---|---|
| Clay County | 303 | 231 | $34m | 10.3% |
| Otter Tail County | 144 | 122 | $27m | 7.4% |
| Becker County | 68 | 48 | $15m | 15.3% |
| Polk County | 64 | 48 | $6.9m | 17.2% |
| Douglas County | 51 | 43 | $6.6m | 10.4% |
| Stearns County | 35 | 26 | $6.0m | 10.3% |
Counties with at least 25 applications, by originations.
Questions and answers
How many mortgages did Gate City Bank originate in Minnesota in 2024?
680 loans totalling $129m, from 881 applications reported for properties in Minnesota.
What is Gate City Bank's denial rate in Minnesota?
12.1% of decided applications in Minnesota were denied, against 16.9% for all lenders in the state and 13.3% for this lender nationally. HMDA data alone cannot be used to determine whether a lender is complying with fair lending laws.
Which Minnesota counties does Gate City Bank lend in most?
By originations: Clay County (231), Otter Tail County (122), Becker County (48), Polk County (48), Douglas County (43).
Where does this data come from?
From the 2024 public HMDA loan/application register (FFIEC and CFPB), filtered to the lender's LEI and the property state. Cells under 25 applications are withheld.
Provenance
Source: HMDA public loan/application register 2022, 2023, 2024 (FFIEC and CFPB, public domain), records for this LEI with a property in Minnesota. Built 30 Sep 2026; data through 1 Aug 2026. See methodology and corrections.