The Bank of North Dakota (BND) is a state-owned financial institution established in 1919. It serves as a bank for the state government and provides financial services to local banks, businesses, and students. BND aims to promote economic development and support the state's agricultural and educational sectors. Unlike traditional banks, the Bank of North Dakota does not compete with private banks. Instead, it partners with them to enhance lending capabilities and provide loans for various projects. This unique model helps to strengthen the local economy and ensure that financial resources are available to North Dakota residents.