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Helping employees understand our culture starts when they are job candidates. During the interview process, we talk about our bank; how we value our community and family-orientated culture. We give back to the communities we serve and support each employee and their family. During orientation, we include a new hire interview. What they share is used in a short article that accompanies their photo on our bank’s intranet. Employees can find others with similar interests, reach out to the new hire and share what they do. This fosters an early connection with the First Western family.

A big part of our culture is giving back to the communities in which we live and serve. The bank’s Outreach Committee organizes volunteering activities and the bank pays for time spent volunteering.

Additionally, employee volunteers have fun earning First Western dollars to spend at the First Western Store. Employees are welcome to include family members when volunteering.

“First Western University” is an important tool, consisting of six sessions presented by employees, that helps new employees understand our culture and bank history.

Fellow employees continually teach by example and the bank provides guidance so new employees can successfully carry on our culture.

IIene Baker VP Human Resource Manager

First Western Bank & Trust Minot, N.D.

Amanda Torok Senior Vice President of Culture

Gate City Bank Fargo, N.D.

Getting to know Gate City Bank’s unique culture begins before the first day of employment, starting with the interview process. New hires are engaged during a two-day orientation at the corporate office, as well as throughout the entire onboarding experience. These are the moments that matter – where team members know they are valued and connect to our mission of creating a better way of life for customers, communities and one another.

The orientation process involves new team members taking part in face-to-face sessions with multiple Bank leaders, including Kevin Hanson, president and CEO. It’s a wonderful opportunity to learn about the Bank’s mission and how the culture drives its decisions while bonding with the innovators who have helped make the Bank a financial leader in its communities.

Additionally, it’s important for everyone who walks through the Bank’s doors to understand that the passion for giving back is everywhere. At Gate City Bank, the commitment to helping the communities where our team members live and work runs deep. When new team members leave orientation, they’re even equipped with a volunteer shirt in their welcome bag, ready to live out the Bank’s culture and make a difference in the communities they serve.

* Member FDIC

Compensation Costs

Compensation costs for private industry workers increased 3.1% from June 2020 to June 2021. Wages and salaries increased 3.5% for the 12-month period ending in June 2021, while the cost of benefits increased 2% for private industry workers. Compensation costs for state and local government workers increased 2% for the 12-month period ending in June 2021, compared with an increase of 2.7% in June 2020. Wages and salaries increased 1.6%, compared with an increase of 2.6% a year ago. Benefit costs for state and local government workers also increased 2.6% for the 12-month period. The prior year increase was 3.1%.

Consumer Price Index

The Consumer Price Index for all urban consumers increased 0.5% in July on a seasonally adjusted basis after rising 0.9% in June, the U.S. Bureau of Labor Statistics reported. Over the past 12 months, the all items index increased 5.4% before seasonal adjustment.

Payroll Employment

Total nonfarm payroll employment increased by 943,000 in July, following a similar increase in June (+938,000). Nonfarm payroll employment in July is up by 16.7 million since April 2020 but is down by 5.7 million, or 3.7%, from its pre-pandemic level in February 2020.

Freight Transportation Services Index

The Freight Transportation Services Index, which is based on the amount of freight carried by the for-hire transportation industry, fell 0.2% in June from May, falling for the second consecutive month, according to the U.S. Department of Transportation’s Bureau of Transportation Statistics. From June 2020 to June 2021 the index rose 5.6% compared to a decline of 7.0% from June 2019 to June 2020 and an increase of 1.4% from June 2018 to June 2019.

June 2021 Freight Shipment Index

From

previous month: -0.2%

From same month of previous year: 5.6%

Source: U.S. Department of Transportation’s Bureau of Transportation Statistics