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.”