BND 2025 Annual Report

Bank of North Dakota's 2025 Annual Report highlights strong financial performance, fintech innovation, disaster relief efforts and continued support for North Dakota communities and financial institutions.

The Bank of North Dakota (BND) is a state-owned financial institution based in Bismarck, North Dakota. Its mission is to deliver quality, sound financial services that promote agriculture, commerce and industry throughout the state. As an agile financial partner, BND creates innovative solutions to meet both current and emerging economic needs. Visit BND's website to learn more.

The state-owned Bank of North Dakota recently released its 2025 Annual Report, titled "Strong Banking." The report highlights another year of strong financial performance, strategic innovation and continued commitment to supporting North Dakota residents, businesses and financial institutions.

Among the year's accomplishments was the expansion of Smart with My Money, the statewide financial literacy initiative backed by 12 state agencies with the goal of making North Dakota the most financially literate state in the nation. The report also highlights Banking Beyond Boundaries, BND's fintech strategy, including its landmark partnership with Fiserv to develop the Roughrider Coin, positioning North Dakota as a leader in financial innovation.

During 2025, BND partnered with local financial institutions to launch a record five disaster relief programs, providing assistance to agricultural producers replacing grain bins, supporting farmers through challenging economic conditions and offering relief to federal employees affected by a government shutdown.

BND reported another strong financial year, closing 2025 with $10.7 billion in total assets and net income of $231.8 million, an increase from $200.4 million the previous year. The Bank achieved a 17.2% return on investment and delivered a 4.69% total return to the state, while Standard & Poor's once again affirmed BND's A+/Stable credit rating.

The report also notes continued growth in Legislature-Directed Programs, which reached $1.3 billion in net assets. These programs support school construction, water infrastructure, disaster recovery and other community investments, helping lower borrowing costs for North Dakota communities and taxpayers.

"The Industrial Commission commends BND for its continued stewardship, meaningful innovation and strong financial performance," the Commission stated in the report. "From administering critical relief programs to advancing fintech initiatives that position our state for the future, BND continues to demonstrate its value as a unique, mission-driven institution dedicated to serving North Dakotans."

"Standing on the strong shoulders of our past leaders, we are embracing a legacy evolution," said BND President and CEO Don Morgan. "Our team remained unwavering in its commitment to strong banking practices, forward-thinking innovation and being responsive to the people we serve."

The Bank's mission to support agriculture, commerce and industry has remained unchanged since its founding in 1919. Today, Bank of North Dakota continues to serve as the nation's only state-owned bank while partnering with community financial institutions to strengthen North Dakota's economy.

BND is a valued DakCU CAP (Cooperative Alliance Program) member. As North Dakota's state-owned bank, BND partners with financial institutions across the state to deliver financial solutions that promote and support agriculture, commerce and industry while helping build stronger communities. For more information, please contact DakCU's George McDonald.