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North Dakota Banks

Giving Back

 As towns sprang up across the Dakota Territory, banks were some of the first businesses established. They were found on every main street and played a role in the start-up of most businesses.

Banks helped to create the economic backbone of our state and continue to do so today. Through direct financing to individuals and businesses, as well as farms and agriculture producers, banks and thrifts are investing hand-in-hand with North Dakotans.

Counties receive extensive funds from bank financial institution franchise taxes each year. These funds are used to support transportation, education and recreation projects. Just as important, banks directly donate millions of dollars and thousands of hours to charities, civic projects and educational programs each year.

Here is a closer look how banks give back to North Dakota:

Lending (2004):
  • $82 million participation in SBA loans to business and industry
  • $6.8 billion in loans for real estate
  • $3.5 billion in loans to business and industry
  • $2.4 billion in loans to individuals
  • $1.9 billion in loans to farmers
  • $1.5 million in support of ND Development Fund projects
  • 81 banks participate in the First Time Homebuyers Program
  • 36 banks participate in the Rural Real Estate Mortgage Program
Local Tax Contributions (2004):
  • $7 million in state financial institution franchise taxes returned to the counties from tax year 2003
  • $35 million in state financial institution franchise taxes returned to the counties in the previous five years (1998-2002)
  • $52 million in state financial institution franchise taxes collected overall from financial institutions in the previous five years (1998-2002)
Employment (2004):
  • 6,405 quality jobs in North Dakota
  • $224 million in annual wages
  • $35,100 average wage per employee
Charitable Donations and Scholarships (2004):
  • $3.6 million donations
  • $386,132 scholarships
  • 135,533 hours
Consumer Education (2004):
  • 5,021 people reached
  • 171 separate presentations
  • 4,102 students contacted

Information compiled December  2004

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