Bank of North Dakota Releases 2022 Annual Report (2024)

FAQs

Is the Bank of North Dakota profitable? ›

The state-owned Bank of North Dakota is reporting record profits of $192.7 million for 2023, up $1.5 million from the previous year. The Bank also had a return on investment of more than 18 percent. The total lending portfolio was a record $5.8 billion, an increase of $394 million from 2022.

Bank of North Dakota Releases 2023 Annual Report

– The state-owned Bank of North Dakota (BND) reported total assets of $10.1 billion at year-end …

Your North Dakota Annual Report can be filed online or by mail. Either way, you'll need to visit FirstStop – The North Dakota Online Filing System. On the state website, click “File annual report” under the heading “Business.” You will be prompted to enter your business name.

Under state law, the bank is the State of North Dakota doing business as the Bank of North Dakota. The bank is the only legal depository for all state funds. The state and its agencies are required to place their funds in the bank, helping it hold 15% of the total deposits of banks operating within the state.

In the fiscal year of 2019, the state of North Dakota had state debt totaling 3.04 billion U.S. dollars. However, the local government debt was slightly higher at 5.38 billion U.S. dollars.

Federal land is managed for many purposes, such as the conservation and development of natural resources, grazing and recreation. The federal government owns 3.90 percent of North Dakota's total land, 1,735,756 acres out of 44,452,480 total acres. North Dakota ranked 23rd in the nation in federal land ownership.

Because of our unique structure as a state-owned bank, it is the Bank's policy not to compete with the private sector for retail deposits. Therefore, convenience products such as debit cards, credit cards or online bill pay are not offered. BND has one location at 1200 Memorial Highway in Bismarck, North Dakota.

A North Dakota Certificate of Good Standing is a document issued by the state verifying that a business is registered to do business in North Dakota and is in compliance with state requirements.

North Dakota LLC Annual Report

You can either submit your report online or mail in your completed report. Your North Dakota LLC annual report is due every year by November 15. As of 2024, the filing fee is $50. If you file after the deadline, then the filing fee is $100.

Filing an annual report isn't free of cost and there is no standard fee for annual reports. All states (except Idaho) charge a fee for processing for-profit Corporation and LLC paperwork. The filing fees could range from $10 to $300 — all depending on your business's home state.

Who owns the Bank of North Dakota? ›

– The state-owned Bank of North Dakota (BND) reported total assets of $10.1 billion at year-end 2023, consistent with the previous year. With record […]

The North Dakota Department of Financial Institutions is responsible for chartering, regulating, and examining North Dakota state-chartered banks, credit unions, and trust companies.

Forbes magazine has named Gate City Bank the Best Bank in North Dakota in 2019.

– Recent data from the U.S. Bureau of Economic Analysis (BEA) shows North Dakota leading the nation in the growth of earnings and gross domestic product (GDP), underscoring the state's strong economy and policies working to drive investment, innovation and business expansion, Gov.

(NYSE:GS), JPMorgan Chase & Co. (NYSE:JPM), and Wells Fargo & Company (NYSE:WFC) are some of the most profitable banks in America. Click to continue reading and see 5 Most Profitable Banks in the US in 2024.

Agriculture is the leading industry sector in North Dakota and points clearly to the extraordinarily important role North Dakota plays in raising crops and livestock to feed the world's growing population and meet increasing demands for renewable energy and life science applications.

North Dakota's economic trends

The state's median household income (five-year estimate) was $73,959 in 2022, ranking 20th among the states and below the national average of $75,149. North Dakota's poverty rate was 10.8 percent in 2022 (five-year estimate), below the national rate of 12.5 percent.