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Bank of North Dakota assets grew to record $10B in 2021

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Bank of North Dakota assets grew to record B in 2021


Whole property of the Financial institution of North Dakota reached a file final yr.

The nation’s solely state-owned financial institution launched its annual report Monday, highlighting $144.2 million of income and the file $10 billion in complete property, together with loans, securities and money. 

“I believe the large factor (2021) represented is that we simply grew loads,” mentioned financial institution President/CEO Todd Steinwand, who took the wheel final yr after his predecessor Eric Hardmeyer retired.

Steinwand attributed the file property to North Dakota’s $1 billion of federal Rescue Plan coronavirus support together with one other $1 billion in further state tax income and earnings from the Legacy Fund oil tax financial savings.

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The Legislature met final fall in a particular session to determine learn how to spend a lot of the Rescue Plan cash. 

Sixteen years of file financial institution income resulted in 2020 amid the coronavirus pandemic. Final yr’s income have been up about 2% from 2020.

Individuals are additionally studying…

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Revenue-spending gap, oil taxes loom large in North Dakota budget outlook

Steinwand mentioned the financial institution weathered the pandemic higher than anticipated. The financial institution in 2020 added $16.8 million to its mortgage loss reserve resulting from financial uncertainty, however final yr it added $4.75 million. Banks use such reserves to alleviate losses on defaulted loans.

“We already had a major stability in that mortgage loss reserve, and in order that flowed proper to our backside line and allowed us to have the next internet revenue than we did in 2020,” Steinwand mentioned.

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Each two years since 2017, the Legislature has transferred $140 million of financial institution income to the state’s normal fund to assist stability the finances.

Financial institution property proceed to carry carefully to $10 billion. 2022 income are on monitor to succeed in $145 million to $150 million, in line with Steinwand.

He mentioned the general economic system has improved from the pandemic’s throes, noting increased commodity costs and robust federal authorities funds and crop insurance coverage funds within the agriculture economic system.

Companies additionally fared the pandemic higher than anticipated, he mentioned. The financial institution in 2020 launched a number of enterprise reduction packages utilizing federal COVID-19 support and financial institution capital.



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Todd Steinwand

Steinwand




The financial institution’s complete mortgage portfolio final yr held at $4.7 billion. Its agricultural mortgage portfolio fell by $61 million, to $702 million; the enterprise mortgage portfolio grew by $162 million.

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The governor-led, three member Industrial Fee, which oversees the financial institution, praised the establishment’s yr in a joint assertion:

“Financial institution of North Dakota continues to implement visionary ideas to maneuver the state ahead, whether or not working with the personal sector, state companies or native governments. These outcomes, together with the annual (Customary & Poor’s) report scores, exhibit the robust place of the Financial institution.”

S&P gave the financial institution a credit standing of “A+/Steady” in 2021, which Steinwand mentioned “provides an general indication from an outdoor third get together of the power of the financial institution.”

The report additionally highlights the financial institution’s financial affect from almost 15,000 agricultural and industrial loans from 2011-20, utilizing a mannequin to point out the financial institution’s mortgage participations in 2020 helped create or retain greater than 50,000 jobs in North Dakota with a projected affect of $6 billion to the state’s gross home product. 

Steinwand famous that the years of best affect throughout that stretch have been when the financial institution offered catastrophe packages, together with COVID-19, drought and farm stability packages.

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The annual report is offered on-line at bnd.nd.gov.

Attain Jack Dura at 701-250-8225 or jack.dura@bismarcktribune.com.



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North Dakota

Concerns over local control pop up in hearing on North Dakota bill to restrict student cellphone use

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Concerns over local control pop up in hearing on North Dakota bill to restrict student cellphone use


BISMARCK — North Dakota lawmakers heard testimony for and against a bill to ban cellphone use by public school students during instructional time Wednesday, Jan. 15.

House Bill 1160,

sponsored by Rep. Jim Jonas, R-West Fargo,

would prohibit students from using cellphones during classes or any educational activity but allow such use during lunch, recess, between classes and open class periods.

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Jonas said approximately 11 states have either total bans or restrictions on student cellphone use and another 10 are considering them.

“Let’s see if we can get better behavior, academic scores up, math, reading and better mental health,” Jonas told the House Education

C

ommittee on Wednesday.

A modified version of the bill makes exceptions for students who must use their cellphone to manage a medical condition or are on an individualized education program, plan or 504 plan who use their phone as an assistive device.

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In addition, a school district or school may temporarily suspend the cellphone ban in the case of an emergency.

West Fargo High School Principal Rachel Bachmeier, who spoke in favor of the bill, said her school, along with others in the district, implemented a policy in the fall of 2022 to restrict cellphone use.

In effect, the cellphone policy is “out of sight, out of use from bell to bell,” she said, but students may use them during non-instructional time.

Consequences for violating the policy range from a classroom warning to surrender of the cellphone to the main office for a day or more to family meetings and behavior plans.

“We very, very rarely move beyond the first main office consequence. It is an incredibly effective policy in that way,” Bachmeier said.

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Teachers have also noticed less “drama” in the classroom when students aren’t distracted by their phones, she added, and students themselves have reflected on how the policy improved their own behaviors.

Several school administrators and other stakeholders expressed concerns with aspects of the bill.

Steve Madler, principal of Bismarck Century High School, said they follow an “out of sight, out of mind during instruction” policy after attempting an all-out cellphone ban a few years back, which led to too many arguments from students and families.

However, he said, some students and teachers use cellphones in the classroom for research, surveys and language translation, adding that the Bismarck district distributes Google Chromebooks to students, which aren’t as efficient as Apple iPads for those tasks.

“It’s important for us to have policies, but I think it’s also important that we have pieces in the bill that allow us to use it for an educational purpose,” Madler said.

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KrisAnn Norby-Jahner, in-house legal counsel for the North Dakota School Boards Association, expressed concern about a blanket ban on cellphone use. She said local control should be maintained, and a large majority of school districts already handle this issue.

Norby-Jahner suggested a change in the bill’s language simply requiring all school districts to come up with their own cellphone policies.

In 2024, the Minnesota Legislature passed a law requiring school districts and charter schools to adopt student cellphone policies by March 15, 2025.

Bachmeier said there is an argument for local control, but action is needed if lawmakers believe excessive cellphone use and social media access during classes is a public health crisis.

“If we do, what is our responsibility as a state to step in and take the first action in helping protect our kids?” she asked.

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School phone policies needed, but not a state ban, bill opponents say

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School phone policies needed, but not a state ban, bill opponents say


Mactrunk / Depositphotos.com

BISMARCK (North Dakota Monitor) – North Dakota public education groups said Wednesday they recognize the need for a policy on student use of cellphones but mostly resisted a call for a state-mandated ban.

Rep. Jim Jonas, R-West Fargo, introduced House Bill 1160 that would ban students from using cellphones during class time.

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A proposed amendment to the bill would add some exemptions, like using a smartphone to monitor health conditions, such as diabetes, and in some cases where students are on a learning plan crafted for the student.

The House Education Committee did not act on the bill or the amendment but indicated that there would be more discussion next week.

KrisAnn Norby-Jahner, legal counsel for the North Dakota School Boards Association, testified that the cellphone use issue should be handled at the local level, but added she would not be opposed to a bill requiring that school districts have a cellphone policy.

Mike Heilman, executive director of the North Dakota Small Organized Schools, testified that the group’s board members did not support the bill.

He said some teachers have students use their phone during class and designate a spot on the desk where the phone should be when not being used.

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He also said some schools may want to make exceptions for juniors and seniors to have more access to their phones

But he also said schools might like the state’s support on the need for a cellphone policy.

Cellphone use among students was described during testimony as a mental health issue in addition to being a distraction.

Rachel Bachmeier, principal at West Fargo High School, said there has been “less drama” since the school restricted phone use to breaks between classes.

She said parents generally support that policy, with little support for an overall ban during the school day.

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Steve Madler, principal at Bismarck Century High School, said his experience with a ban during the school day turned out to be unworkable for many students and parents.

The U.S. Department of Education in December called on every state and school district to adopt a policy on phone use in schools.

Jonas, a former West Fargo teacher, said the goal of the bill is improved test scores and mental health. He said he received some calls from principals for an all-out ban during the school day.

When asked what the penalty would be for a school that did not enforce the state policy, he did not give specifics.

“The hope is that they would abide by the law,” he said.

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Two Grand Forks residents among finalists for state Board of Higher Education

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Two Grand Forks residents among finalists for state Board of Higher Education


GRAND FORKS — Two Grand Forks residents are among six finalists to fill two seats on the state Board of Higher Education, State School Superintendent Kirsten Baesler announced this week.

A nominating committee selected the six finalists, and the names will next go before Gov. Kelly Armstrong to make the final two appointments, which then must be confirmed by the North Dakota Senate.

The selected nominees will fill the board seats currently held by Casey Ryan, a Grand Forks physician who is finishing his second four-year term on the board and is not eligible for reappointment, and Jeffry Volk, a retired Fargo consulting engineer, who is eligible for a second term.

The finalists for Ryan’s seat are:

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  • Levi Bachmeier, business manager of the West Fargo school district and education adviser to former Gov. Doug Burgum,
  • Russel Crary, a Grand Forks real estate developer, and
  • Rich Wardner, of Dickinson, a former North Dakota Senate majority leader and retired K-12 teacher and coach.

The finalists for Volk’s seat are:

  • Beverly Johnson, of Grand Forks, a retired physical therapy professor and clinical education director at the UND medical school,
  • Warren Sogard, owner and chairman of American State Bank and Trust Co., of Williston, and
  • Volk, the incumbent.

The nominating committee met Tuesday to review a dozen applicants for the two openings, according to a release. Baesler is chairwoman of the nominating committee, and other members are Jon Jensen, chief justice of the North Dakota Supreme Court; Nick Archuleta, president of North Dakota United, which represents teachers and state employees; House Speaker Robin Weisz, R-Hurdsfield; and Senate President Pro Tempore Brad Bekkedahl, R-Williston, the release said.

The Board of Higher Education has eight voting members and two nonvoting members who represent the system’s faculty and staff. It oversees the North Dakota University System’s 11 colleges and universities.

Our newsroom occasionally reports stories under a byline of “staff.” Often, the “staff” byline is used when rewriting basic news briefs that originate from official sources, such as a city press release about a road closure, and which require little or no reporting. At times, this byline is used when a news story includes numerous authors or when the story is formed by aggregating previously reported news from various sources. If outside sources are used, it is noted within the story.





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