Bank of North Dakota

Established in 1919, the Bank of North Dakota (BND) is the nation's only state-owned financial institution. Its mission is to support the state's economy by partnering with private banks, economic development groups, and government agencies. BND does not compete with private banks; instead, it acts as a "banker's bank" by participating in loans, providing liquidity, and offering other services to local financial institutions. The bank also manages state funds and is a major provider of student loans in North Dakota.