With regards to the bank ‘ s webpages, “[i]t was never ever designed for BND so you can take on otherwise replace current banks
The bank is actually working in one another lead credit and you can involvement fund (financing from the lender as a result of contribution which have another standard bank), that have an emphasis with the latter
Instead, Bank regarding North Dakota was created to spouse with other economic organizations and you may help him or her when you look at the conference the needs of the fresh new people from Northern Dakota” (
North Dakota laws requires all of the condition fund are placed during the the bank (N.D. Cent. Password, § 6-09-07). All the deposits are secured because of the county and are excused out-of the condition, county, and you can civil taxes (id. § 6-09-10). All lender ‘ s deposits are from income tax range and you may state charge. Whenever step 1.5% of the places are from the minimal merchandising banking functions, such checking, offers, and licenses regarding deposit (Financial out of North Dakota Faq’s during the p. dos (hereinafter BND Faqs), attached to it statement and offered at
In ’09, the lending company had financing collection of over $dos
BND comes with the statutory authority to engage in several banking facts. Its main focus is funding to own monetary advancement. The lending company even offers industrial capital applications to own agriculture, ranching, small business, start-up businesses, society creativity, and other section. (далее…)