Gate City Bank in Minnesota vs the state
11.2%Denial rate-2.37 pts vs state
12.6%Decision denial rate-3.76 pts vs state
77.2%Origination rate+10.79 pts vs state
6.75%Median rate+0.13 pts vs state
0.26Rate spread (pts)+0.01 pts vs state
$124kMedian applicant income
625Loans originated
91Denied
Trend in Minnesota
| Year | Applications | Originated | Denial rate | Median rate | Rank in state |
|---|---|---|---|---|---|
| 2023 | 812 | 640 | 8.6% | 6.88% | #46 |
| 2024 | 881 | 680 | 10.8% | 6.70% | #48 |
| 2025 | 810 | 625 | 11.2% | 6.75% | #57 |
What Gate City Bank lends in Minnesota
By loan purpose
By loan type
Why it denied Minnesota applicants
Where in Minnesota
Counties with the most Gate City Bank applications in 2025.
| County | Applications | Originated | Denied | Denial rate |
|---|---|---|---|---|
| Clay County | 313 | 251 | 33 | 10.5% |
| Otter Tail County | 133 | 101 | 16 | 12.0% |
| Polk County | 68 | 48 | 14 | 20.6% |
| Douglas County | 54 | 44 | 5 | 9.3% |
| Becker County | 50 | 41 | 3 | 6.0% |
| Wilkin County | 26 | 19 | 3 | 11.5% |
| Stearns County | 21 | 14 | 4 | 19.0% |
| Hennepin County | 11 | 6 | 2 | 18.2% |
| Hubbard County | 11 | 9 | 1 | 9.1% |
| Dakota County | 9 | 6 | 0 | 0.0% |
Other large lenders in Minnesota
| Lender | Grade | Applications | Denial rate | Median rate |
|---|---|---|---|---|
| United Shore Financial Services | B | 8,694 | 10.6% | 6.38% |
| U.S. Bank | D | 8,624 | 30.4% | 7.88% |
| Bell Bank | A | 7,987 | 5.3% | 6.63% |
| Rocket Mortgage | C | 7,630 | 16.3% | 6.63% |
| Trustone Financial Credit Union | C | 6,066 | 20.0% | 7.25% |
| Affinity Plus | C | 5,438 | 14.6% | 6.63% |
| Blaze Credit Union | B | 4,074 | 12.3% | 6.38% |
| Wings Financial Credit Union | A | 3,960 | 16.4% | 7.25% |
| Crosscountry Mortgage | B | 3,942 | 2.1% | 6.63% |
| Fairway Independent Mortgage | B | 3,327 | 3.2% | 6.75% |
Frequently asked questions
Minnesota: 810 applications in 2025, of which 625 were originated and 91 denied.
11.2% of all applications, or 12.6% of the applications it actually decided on. The Minnesota statewide average across all lenders was 13.6%.
The median rate on loans Gate City Bank originated in Minnesota in 2025 was 6.75%, against a statewide median of 6.63%.
About this data. Figures are Gate City Bank's own HMDA filing for properties located in Minnesota, 2025. The grade is national; state-level figures are shown for context and are not separately graded. Methodology