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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 7,000 people with a rewarding place to work.

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  • 7,139Employees

  • $601.0 MTotal Annual Compensation & Benefits

  • $84,188Average Total Compensation & Benefits

  • 68 Banks Headquartered in State

Source: FDIC branch deposit data (2021 Q2), FDIC Call Report 2Q2021, 2021 BLS/US Census Quarterly Census of Employment and Wages (QCEW) for Credit Intermediation and Related Activities, and ABA Analysis



  • $4.2 BNew Home Loans Booked in 2021

  • 16,812Number of New Home Loans in 2021

  • $205,000Median New Home Loan Size in 2021

  • $1.3 BSmall Business Loans

  • 80.8 KNumber of Small Business Loans

  • $15,649Average Small Business Loan

  • $731.2 MSmall Farm Loans

  • 9,893Number of Small Farm Loans

  • $72,223Average Small Farm Loan

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. 

Source: CFPB HMDA data, year-end 2021; FDIC Call Report 2Q2021 and Year-End 2021; 2021 USDA Quarterly Farm data and USDA/Census Data from 2017 State of Ag Survey; 2021 SBA/Census Data and ABA analysis



  • 2.8 MCustomers

  • $38.4 BDeposits

  • 78Banks Operating Branches

  • 416Branches & Offices

  • 40Branches Offering Low Fee Bank On-certified Accounts

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.

Sources: Estimates based on ABA 2020/2021 survey data; FDIC Summary of Deposit (SOD) 2021Q2 Data; Cities for Financial Empowerment Fund

Giving Back

Giving Back

  • 101.3 KVolunteer Hours

  • $18.0 MCommunity Donations

Source: Estimates based on ABA 2020/2021 survey data

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