Gateway Bank started as an idea of two young bankers, John Schreier and Bruce Downey in the mid-1990s. Their careers took them to different banks and they continued to gain more banking experience. In the summer of 2002, they began talking about their old dream, a solid community bank that thrives on an excellent work environment, strong client relationships and outstanding client service.
In December 2002, the Gateway Bank holding company was founded and in May of 2003, the holding company formally applied for the bank charter. The bank was approved by the FDIC, the State of Minnesota and the Federal Reserve Board in December 2003.
The bank opened its doors for business on January 20, 2004 in a double-wide trailer adjacent to the site of the permanent bank building in Mendota Heights with six full-time associates. Construction on the building began in April 2004 with completion and occupancy on October 15, 2004. In 2017, we opened a second location at 45th and France in Edina.
Today we have 28 full time associates and $200 million in assets.