Record Year for State-Owned Bank

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. One of the programs cited was the Livestock Rebuilders Loan which helped ranchers replenish 16,000 head of cattle lost in the state due to the 2021 drought.