BISMARCK, N.D. (KXNET) — Banking is a major concern to many, as a good and stable bank can be the difference between saving and losing a fortune. Thankfully, customers of the Bank of North Dakota are already in the right place, according to their annual credit rating review.

As the only state-owned bank in the nation, the Bank of North Dakota is overseen by the Industrial Commission, which consists of Governor Doug Burgum as chairman, Attorney General Drew Wrigley, and Agriculture Commissioner Doug Goehring. Despite the state-owned system, the bank still abides by the rules of all other banks in the nation — including the necessity of maintaining a high credit rating.

A bank’s credit rating is typically used to show how trustworthy they are when it comes to borrowing and returning funds — as well as their overall financial health and stability. The better the score, the more one can expect their bank to keep their money safe.

The bank’s 2022 inspection and overview by the financial services group Standard & Poor’s (S&P) indicated that the Bank of North Dakota (BND) still possesses a stellar credit rating — affirming it as an A+/Stable level in its annual review. This rating is consistent with previous ratings given by S&P, notably in their November 2021 assessment.

The report notably recognized the Bank of North Dakota as having ‘one of the highest risk-adjusted capital ratios’ in the country, thanks to its strong capital position. This, the group claims, allows the bank to respond quickly to emerging needs in the state.

In a joint press release, the Industrial Commission stated that “The S&P Report highlighted the Bank’s prudent management of funding and liquidity as one of its strengths. This approach allows the Bank, through its partnerships with local financial institutions, to invest $2 billion every year in main street businesses, farmers, ranchers, and students creating economic opportunity for North Dakotans.”

“The Bank came through COVID well-positioned to continue its important work for the residents of North Dakota,” said BND president Todd Steinwand in a press release. “I am honored to work alongside the BND team who strives every day to make North Dakota a better place to live and work.”

The full report on the Bank of North Dakota by S&P may be viewed at