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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 10,000 people with a rewarding place to work.

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Jobs

Jobs

  • 10,997Employees

  • $1 BTotal Annual Compensation & Benefits

  • $91,371Average Total Compensation & Benefits

  • 61Banks Headquartered in State

Source: FDIC branch deposit data (2020), estimates based on ABA 2020/2021 survey data

Lending

Lending

  • $4.8 BNew Home Loans Booked in 2020

  • 19,411Number of New Home Loans in 2020

  • $205,000Median New Home Loan Size in 2020

  • $1.7 Bin Paycheck Protection Program (PPP) Loans Facilitated

  • 18,040PPP Loans

  • $20,833Median PPP Loan

  • 177.2 KJobs Supported by PPP

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 2020/2021 survey data, HMDA, SBA PPP Loans

Customers

Customers

  • 697.3 KCustomers

  • $35 BDeposits

  • 83Banks Operating Branches

  • 420Branches & 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.

Source: Estimates based on ABA 2020/2021 survey data, FDIC branch deposit data, CFE Fund and S&P Global Market Intelligence

Giving Back

Giving Back

  • 101.3 KVolunteer Hours

  • $18 MCommunity Donations

Source: Estimates based on ABA 2020/2021 survey data

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