BANKING&FINANCE/BUSINESSINSIDER FEBRUARY 2018 VOL 19 ISSUE 2 Bank on it Community banks remain cornerstones of most North Dakota towns, and the state is better off as a result, says the ND Bankers Association’s president and CEO YOU GO TO NATIONAL CONFERENCES, WHAT ELEMENTS OF NORTH DAKOTA BANKING DO YOU FIND YOURSELF DESCRIBING? IN OTHER WORDS, WHAT SETS NORTH DAKOTA BANKING APART? Q. WHEN A. Being from North Dakota, I am proud to answer questions regarding Carson Wentz, Cara Mund and what’s happening in the Bakken. But the No. 1 question that I get by far is about the Bank of North Dakota and its relationship with the state’s banking community. The only state-operated bank in the country, BND provides a unique competitive advantage. It does this by acting as a “banker’s bank” to help North Dakota banks meet the credit and financial needs of North Dakotans and our communities. Here’s an example. Banks are the backbone of our economy; they touch the daily lives of their customers and put deposits back to work in their communities. And a bank’s ability to do this has been made much more difficult by the avalanche of rules brought about by the Dodd-Frank Act of 2010. One of the most critical and altered areas was mortgage lending. The new requirements were so onerous that some smaller North Dakota banks found themselves lacking the staff and other resources to comply. As a result, BND developed a program to help local banks both comply with the new rules and make mortgage loans more available. BND fulfills its mission to “promote agriculture, commerce and industry” in North Dakota and to “be helpful to and assist” North Dakota banks. Whether through loan participation programs, assistance with rural mortgage lending or capital assistance for farmers, BND is a vital partner to North Dakota banks, which – despite ebbs and flows in the economy – remain among the safest and soundest in the nation. 18 TWITTER.COM/PRAIRIEBIZ FACEBOOK.COM/PRAIRIEBUSINESS PRAIRIEBUSINESSMAGAZINE.COM
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