Gateway Ends 20th Anniversary Year with Record-Breaking Mortgage Production
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JENKS, Okla.--(BUSINESS WIRE)-- Gateway First Bank, one of the larger banks based in Oklahoma and one of the largest mortgage bank operations in the United States, ended 2020 with record-breaking residential mortgage production.
With an increased number of homeowners refinancing and taking advantage of lower interest rates, Gateway reported funding over $1 billion a month in residential mortgage loans in six different months of 2020. In October of 2020, Gateway set an all-time record for monthly volume by funding more than $1.1 billion in loans in one month. Overall, Gateway funded more than $11.3 billion in mortgage loans in 2020, surpassing the previous record year of $7.7 billion funded loans in 2019.
Gateway faced the COVID-19 crisis head-on, managing the business through work-from-home and office closing challenges. The company successfully transitioned more than 1,400 team members to remote work within two weeks and maintained high level production, helping more than 53,600 families achieve or maintain their dream of homeownership. Gateway also services more than 85,000 mortgage loans.
“Gateway’s commitment to customers and team members has been our highest priority,” said Scott Gesell, CEO of Gateway. “We have made investments in talent and technology, improvements in operational rigor, focused on quality with a strong emphasis on our workplace culture. By putting people first, Gateway’s culture is strong and will continue to be the driving force behind its current and future success.”
“Since the pandemic started in early 2019, we have faced new, unique challenges. I am extremely proud of how the team responded and continued to demonstrate a strong dedication to customer satisfaction. The record production we experience in 2020 would not have been possible without the commitment to excellence. Through all the growth and transition, the Gateway team has held true to its primary mission of strengthening families and communities,” Gesell added.
Gateway also expanded its reach across the United States though opening 17 new mortgage centers bringing the total number of centers to 163. Eight additional mortgage centers will open first quarter of 2021 to meet increased demand from local communities for home financing. Gateway also expanded into two new states – Georgia and Wyoming – to bring the total footprint to 42 states and the District of Columbia. As part of the ongoing efforts to actively reach out to undeserved markets, including low-to-moderate income communities, Gateway opened a new mortgage branch in North Tulsa in the Fall of 2020.
In 2019, the Gateway Mortgage merged with a 100-year-old community bank to become Gateway First Bank. Over the past year, deposits have grown significantly, and several new retail and commercial banking products have been introduced to the market. A new flagship banking center is breaking ground in February 2021 on the Jenks corporate campus, bringing the number of banking centers to seven.
Gateway was named a Top Workplace in 2020 for the eighth year in a row by The Oklahoman newspaper.
About Gateway First Bank
Gateway First Bank is a leading financial institution that provides banking and mortgage services for consumers and commercial customers. Headquartered in Jenks, Oklahoma, Gateway is a $1.8 billion asset sized bank with a strong mortgage operation. Gateway is one of the largest banking and mortgage operations in the United States with six bank branches in Oklahoma, over 160 mortgage centers in 42 states, and almost 1,600 employees. Learn more at www.GatewayFirst.com. Member FDIC, Equal Housing Lender (NMLS 7233)
Source: Gateway First Bank
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