BANK OF NORTH DAKOTA
[Authorized: NDCC Chapter 6-09]
The Bank of North Dakota is operated, managed, and controlled by the Industrial Commission. The commission appoints the bank president.
Established to promote agriculture, commerce, and industry in the state, the Bank is the only legal depository for all state funds. It also serves as a central clearing agency for many North Dakota banks and other financial institutions. Among the many programs the Bank administers are the Farm Real Estate Debt Restructure Program, the Guaranteed Student Loan Program, the Municipal Bond Bank, the Developmentally Disabled Facility Loan Program, the Community Water Facility Loan Act, the Beginning Farmer Loan Guarantee Program, the Small Business Administration Loan Program, and the Fuel Production Facility Loan Guarantee Program. Under the Family Farm Survival Act of 1985, the Bank established an interest bydown program to assist farmers and agribusinesses. As the state's fiscal agent, the Bank can make direct insured loans such as the Federal Housing Administration and Veterans' Administration Home Loans.
The Bank of North Dakota was established in 1919 "to encourage and promote agriculture, commerce, and industry in the state." (S. L. 1919, Ch. 147) Created under the auspices of the Nonpartisan League, the Bank of North Dakota was a key element of the League's state industrial program. The existence of the Bank of North Dakota was threatened early in its history. Bills creating the Bank of North Dakota, the Board of Administration, and the Industrial Commission were referred and approved by voters on June 26, 1919. An initiated measure to dissolve the Bank of North Dakota was defeated by voters in a special election on October 28, 1921.
The Bank of North Dakota is owned by the state of North Dakota, controlled by the Industrial Commission, and is the sole legal depository for state funds. All profits from the operation of the Bank of North Dakota are deposited in the General Fund. In addition to serving as the state's fiscal agent, the Bank of North Dakota accepts deposits from private, commercial, and governmental sources, and makes farm loans to state residents, student loans, home loans, and loans to other financial institutions and political subdivisions. The president of the Bank of North Dakota serves as a member of the State Investment Board.
30033 Administration. Annual Reports
30034 Administration. General Ledger
30037 Administration. Bond Ledger
30038 Administration. Canceled Oil and Gas Leases
30040 Administration. Reconcilement Register
30041 Audit Department. Case Files
30042 Credit Department. Case Files
30043 Land Department. Farm Loan Department Finance Committee Minutes
30044 Land Department. Record of Action of the Finance Committee
30046 Land Department. Card Index to Closed Farm Loan Files
30047 Land Department. Record of Principal and Interest Losses
30048 Student Loan Department. Reports on Student Loan Revenue Bonds
30521 Investment and Trust Department. WWII and Korean War Bonus Bonds
30546 Record of Newspaper Advertisements
30581 Land Department. Farm Loan Photographs
30687 Administration Loan, Deposit, and Discount Schedule
30865 Bulletins and Circulars
31041 Administration. Oil Boom Scrapbooks.
31042 Administration. Record of Bond Sale Advertisements
31050 Legal Counsel. Attorney’s Correspondence
31051 Administration. Oil, Gas, and Mineral Lease Auction Records
31180 Administration. Bond Record
31196 Administration. Industrial Commission Minutes
31197 Administration. General Finance Committee Minutes
31235 Administration. President’s Subject Files
31236 Administration. Investment Committee Minutes
31237 Administration. Management Committee Minutes
31238 Administration. Advisory Committee Minutes
31239 Administration. Operations Committee Minutes
31240 Administration. Executive Committee Minutes
31241 Administration. Building and Maintenance Files
31242 Resources Department. Personnel Records
31243 Administration. Budget Files
31244 Administration. Audit Reports
31245 Farm Loan Department. Collection Department Land Department Reports
31333 Land Department. Closed Farm Loan Files
31427 Investment and Trust. Bond Issue Files
31546 Comptroller. Quarterly Financial Statements
31572 Student Loan Division. Volume Reports to the Office of Education
31745 Support Services. History of the Bank of North Dakota
31800 Information Technology Division. ALCO Minutes
31801 Audit Division. Advisory Board Audit Committee Minutes
31813 Administration. Executive Files
31838 Administration. Abstract of the Statement of Condition
31886 Administration. Policies
31968 Guaranteed Student Loan Division. Procedures
31984 Management and the President. Directory of North Dakota Banks
32008 Management and the President. Steering Committee Minutes
32081 Comptroller. Procedures Manual
32239 Communications and Marketing. Press Releases
612 East Boulevard Ave.
Bismarck, North Dakota 58505
State Museum and Store: 8am - 5pm M-F; Sat. & Sun. 10am - 5pm.
State Archives: 8am - 4:30pm., M-F, except state holidays, and 2nd Sat. of each month, 10am - 4:30 pm.
State Historical Society offices: 8am - 5pm M-F, except state holidays.
phone: (701) 328-2666
fax: (701) 328-3710