Bank of North Dakota: A Century of Success, Boosting State's Economy
2024-12-18
The Bank of North Dakota (BND) is the only state-owned and -operated general-service bank in the United States, established in 1919 to foster agriculture, commerce, and industry. It leverages state funds to provide loans and financial services for infrastructure projects, agriculture, and small businesses, and acts as a wholesale bank for local institutions. BND played a crucial role during the 2008 financial crisis and the 2020 COVID-19 pandemic, demonstrating its profitability and positive impact on the state's economy. Its unique model has made it a standout success story in the American financial system.