Fitting of a band saw is tooth dressing and involves swaging, grinding, shaping, grinding. The tip of the saw tooth is swaged to a flair. Its sides are then compressed in slightly with a shaper tool to an exact kerf. Afterwards, a final grinding pass is made. The usual tolerance is +/- .005" in kerf, and < .003" side to side variation. For fitting, the same grinding machine used in gumming a saw is used for fitting it as well.
Usually, the saw kerf is made this way from the base saw metal. However, the kerf can also be made with stellite or carbide tips. When using stellite or carbide tips, gumming is required even though swaging and shaping isn't needed. The kerf may also be 'set' with a punch and hammer, with the teeth bent left, right, left...Rarely are set teeth ever used.