What is the state owned bank in North Dakota?
The Bank of North Dakota (BND) is famously recognized as the only state-owned bank in the United States. Established by the state legislature to support local agriculture, commerce, and industry, BND partners with local community banks rather than competing with them for retail deposits. It functions as a depository for state funds, helps finance infrastructure and student loans, and channels economic stimulus directly back into the regional economy of North Dakota.
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Yes, Security State Bank, headquartered in Centralia, Washington, was acquired by Gesa Credit Union. The transaction was completed on May 31, 2025.
Security First Bank refers to several independent community financial institutions operating across the United States, providing comprehensive retail banking, agricultural lending, commercial mortgage services, and digital financial management tools.