BISMARCK, N.D. (KXNET) — The state-owned Bank of North Dakota recently released its 2022 annual report.

From 2021 to 2022, the bank reported a record profit of just over $191 million — an increase of nearly $50 million — and their loan portfolio also grew. Officials with BND say they experienced a decrease in student loans but increases in both agriculture and business loans. Overall, the loan portfolio had an increase of $765 million, and the return on investment to North Dakota was 19%.

In a joint statement, members of the commission overseeing the bank say that the annual report is a reflection of how well things are going here in North Dakota.