The state-owned Bank of North Dakota operates as a kind wholesale bank by offering partnership loans that effectively expand the lending capacity of local banks and credit unions. Thanks in large part to BND, North Dakota has the largest number of local banks and credit unions per capita of any state, and these local financial institutions account for a remarkable 83 percent of the market. Our research shows that having a robust local banking system pays off in big ways for North Dakota, including by providing a significantly higher volume of loans to finance local businesses and farms. … Read More