Gate City Bank serves North Dakota and west central Minnesota. Due to the tax cut bill, 538 employees will receive hand-delivered bonus checks on Jan. 15. The bank will donate an extra $500,000 to charity, and will also provide $500,000 in free home appraisals.
Excerpts from Gate City’s announcement:
“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 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.”
Read the full Gate City statement here and the Fargo Forum newspaper article here.