Friday, March 22, 2013
JULY 28, 1919 – BANK OF NORTH DAKOTA FOUNDED
1919 – BANK OF NORTH DAKOTA FOUNDED
The Bank of North Dakota is the only state-owned bank in the US. Its primary deposit base is the State of North Dakota. All state funds and funds of state institutions are deposited with the Bank, as required by law. Other deposits are accepted from any source, private citizens to the U.S. government. No tax dollars are used to pay interest to bond holders since the state has no debt. Coincidentally or not, North Dakota is one of the few states in the nation not facing a fiscal crisis.