Question 1

What is First National Bank of Gilbert?

Accepted Answer

First National Bank of Gilbert is a community-focused commercial bank serving the Iron Range region of northeastern Minnesota. With approximately $82.5 million in total assets and 2 branch locations, the bank specializes in mortgage lending and provides comprehensive financial services to residents and businesses in the Duluth metropolitan area. The bank operates as a federally chartered national bank under the supervision of the Office of the Comptroller of the Currency (OCC) and is a member of the Federal Reserve System.

As a subsidiary of Broadway Bancshares Inc., First National Bank of Gilbert maintains its commitment to personalized, community-oriented banking while serving St. Louis County and surrounding areas.

Question 2

When was First National Bank of Gilbert founded?

Accepted Answer

First National Bank of Gilbert was founded in 1908, establishing itself as one of the longstanding financial institutions serving Minnesota's Iron Range. For over a century, the bank has served the mining communities and residents of northeastern Minnesota, adapting through the region's economic transformations while maintaining its local roots.

The bank's founding coincided with the height of the Iron Range mining boom, when Gilbert and surrounding communities were experiencing significant growth and development.

Question 3

Where is First National Bank of Gilbert headquartered?

Accepted Answer

First National Bank of Gilbert is headquartered in Gilbert, Minnesota, located at 2 N Broadway Avenue. Gilbert is a small city in St. Louis County, situated in the heart of Minnesota's famous Iron Range region, approximately 75 miles northwest of Duluth.

Question 4

Where does First National Bank of Gilbert operate?

Accepted Answer

First National Bank of Gilbert operates 2 branch offices concentrated in northeastern Minnesota's St. Louis County region. The bank's service area includes the communities of Gilbert and surrounding Iron Range towns within the Duluth, MN-WI metropolitan statistical area.

While the bank maintains a focused geographic footprint, it provides comprehensive banking services to both retail customers and local businesses throughout the Iron Range region, an area known for its mining heritage and close-knit communities.

Question 5

What services does First National Bank of Gilbert offer?

Accepted Answer

First National Bank of Gilbert offers a full range of banking services with a specialization in mortgage lending. The bank's core services include:

Personal Banking: Checking and savings accounts, personal loans, consumer credit products, and safe deposit box services.

Mortgage Services: Residential mortgages and home equity loans, which represent the bank's primary lending focus. Real estate loans comprise the majority of the bank's loan portfolio.

Business Banking: Commercial and industrial loans, business checking accounts, and cash management services for local businesses. The bank maintains approximately $4.3 million in commercial and industrial loans.

Digital Banking: Online banking services allowing customers to manage accounts, transfer funds, and access banking services remotely. The bank provides modern digital tools while maintaining its community banking approach.

Question 6

What makes First National Bank of Gilbert unique?

Accepted Answer

First National Bank of Gilbert stands out for its deep-rooted commitment to Minnesota's Iron Range community and its specialized focus on mortgage lending. With 16 employees serving the local area, the bank maintains a highly personalized approach to banking that larger regional institutions cannot replicate.

The bank's strong capital position is noteworthy, with a Tier 1 Capital Ratio of 13.07% and Total Capital Ratio of 14.32%, both well above regulatory requirements. This financial strength provides stability and confidence for depositors and borrowers alike.

Operating in a region with unique economic characteristics tied to mining and natural resources, First National Bank of Gilbert has developed expertise in serving families and businesses in rural and small-town settings. The bank's longevity—over 115 years of continuous operation—demonstrates its resilience and adaptation through multiple economic cycles.

Question 7

What type of financial institution is First National Bank of Gilbert?

Accepted Answer

First National Bank of Gilbert is a National Bank, which means it operates under a federal charter issued by the Office of the Comptroller of the Currency (OCC). As a national bank, it is regulated at the federal level and maintains membership in the Federal Reserve System.

The bank is also classified as a Commercial Bank, offering both retail banking services to individual consumers and commercial banking services to businesses. Its specialization in mortgage lending, combined with commercial and industrial loan products, positions it as a comprehensive community banking institution serving both household and business financial needs in the Iron Range region.

First National Bank of Gilbert

in the United States 🇺🇸

Crypto-Friendliness

All done!

About First National Bank of Gilbert in the United States