(KNOX) – The state-owned Bank of North Dakota reported record profits of $192.7 million at year-end 2023 that put total assets over the $10 billion mark.
The bank’s profits are used to support loan participations with partner financial institutions and to support disaster recovery programs.
Profits may also be used to support legislatively directed loan programs and capital transfers to the general fund as needed.
Excess earnings are retained and accumulated to fund capital.
This year, the Bank originated and renewed more than 10,700 loans.
Copies of the 2023 Annual Report are available at www.bnd.nd.gov.
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