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Gateway Named 2023 Top Performing Community Bank by The Independent Community Bankers of America®Gateway First Bank has been recognized as a Top Performing Community Bank by The Independent Community Bankers of America (ICBA). Out of the 25 banks recognized in the "More Than One Billion in Assets" category, Gateway received the third-highest score and is the only Oklahoma bank listed. ICBA compiled this year's rankings to recognize community banks that are consistently high performers. According to ICBA, "Independent Banker's annual listing of the Best-Performing Banks 2023 illustrates how critical it is for community banks to lean into their strengths while seeking out innovation to better serve Main Street America. Through creativity, local knowledge, and dedication to their customers, community banks continued to demonstrate the value of their relationship-based model in the past year." "It is truly a testament to the team that Gateway has placed third in the nation of banks with assets of more than $1 billion," says Scott Gesell, Gateway CEO. "This demonstrates that the trust the FDIC placed in us four years ago when Gateway was approved to purchase a small chain of Oklahoma banks was well placed. The team has worked tirelessly over the last several years to enhance our banking operations with a goal to match the outstanding level of products and services we are known for in the mortgage industry." In 2019, Gateway Mortgage merged with a 100-year-old bank to become Gateway First Bank. This was the first time the FDIC had allowed a mortgage company to purchase a bank. As one of the largest mortgage operations in the country, Gateway's performance and financial success since 2000 made the company a prime candidate to lead a successful merger between two Oklahoma-based companies. Community Banks included in the rankings include:
* Using FDIC data, ICBA considered pre-tax return-on-assets (ROA) figures from the past three years, with the most recent year weighted at 3x, the second most recent year at 2x, and the third most recent year at 1x. Community banks were then divided into three broad segments based on asset size, and each segment was ranked based on the three-year weighted average ROA. A bank must have a rating of C or higher by Kroll Bond Ratings (formerly LACE) to be considered for the ranking. To view the full list from ICBA, visit: https://www.independentbanker.org/article/2023/04/28/icba's-top-performing-community-banks-of-2023 About Gateway First Bank Gateway, headquartered in Jenks, Oklahoma, is a leading financial institution that provides banking and mortgage services to individuals and businesses. Gateway is one of the largest financial institutions in the state, with assets totaling over $2 billion. In addition to its eight banking centers in Oklahoma, Gateway has a strong mortgage presence nationally, with more than 115 mortgage locations and over 1,000 employees. www.gatewayfirst.com. © 2023 Gateway First Bank. Member FDIC. Equal Housing Lender. NMLS 7233.
View source version on businesswire.com: https://www.businesswire.com/news/home/20230524005823/en/ |
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