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North Dakota: Banks’ Economic Impact

Banks support North Dakota’s economy with consumer, business and other loans, and by providing more than 9,000 people with a rewarding place to work.

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Jobs

Jobs

  • 10,607Employees

  • $815.8 MTotal Annual Compensation & Benefits

  • $76,912Average Total Compensation & Benefits

  • 74Banks Headquartered in State

Source: Estimates based on ABA 2019/2020 survey data

Lending

Lending

  • $1 BSmall Business Loans Outstanding

  • $2.2 BNew Home Loans Booked in 2018

  • 10,945Number of New Home Loans in 2018

  • $165,000Median New Home Loan Size in 2018

  • $693.5 MSmall Farm Loans Outstanding

Bismarck Bank Supports Butcher Shop Dream

After a long career in the butcher business, Dan Selensky and his wife Jess wanted to bring his vision of owning and operating a butcher shop to life. In 2013, they spoke with a few bankers in Bismarck, and counseled with the local Small Business Development Center. In the summer of 2018, Selensky presented his thorough plans to a local Bismarck bank, but ultimately they were not the right match for one another.

Source: Estimates based on ABA 2019/2020 survey data, HMDA

Customers

Customers

  • 684 KTotal Customers

  • $29.5 BDeposits

  • 582.8 KConsumer

  • 124.5 KSmall Business

  • 116.2 KSmall Farm

  • 85Banks Operating Branches

  • 423Branches & Offices

Supporting Customers During the Pandemic

Choice Bank, a Midwest business bank, recognized the significant impacts the COVID-19 pandemic would have on its customers. To provide updates, information and transparency, they created a landing page where customers could find helpful links and resources pertaining to their physical and financial health.

Source: Estimates based on ABA 2019/2020 survey data, FDIC branch deposit data

Giving Back

Giving Back

  • 136.3 KVolunteer hours

  • $20.8 MCommunity Donations

Source: Estimates based on ABA 2019/2020 survey data. Does not include individual employee donations.

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