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Bank of North Dakota reports $144.2 million in profits for 2021

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Bank of North Dakota reports 4.2 million in profits for 2021


BISMARCK –- The state-owned Financial institution of North Dakota reported a revenue of $144.2 million in 2021, a slight enhance from $141.2 million in 2020 with a return on funding of 15%, in response to info offered to the Industrial Fee in BND’s annual report final month.

The report’s theme, “Evolving,” targeted on how the financial institution transitioned with the retirements of two key leaders in Eric Hardmeyer as financial institution president and Tim Porter as chief monetary officer, executed a hybrid workforce, concluded the COVID-19 aid packages and created a number of state authorities efficiencies.

The financial institution’s complete mortgage portfolio remained secure at $4.7 billion. The agricultural mortgage portfolio decreased by $61 million to $702 million, however elevated from years previous to the pandemic.

The enterprise mortgage portfolio elevated by $162 million, with a majority of that progress coming from industrial participation loans and financial institution inventory loans.

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The house mortgage portfolio continues to lower attributable to a strategic choice to consolidate residential lending below the North Dakota Housing Finance Company.

BND disbursed $100 million in pupil loans, a portfolio that decreased by $40 million from final yr.

Legislative-directed mortgage packages, together with faculty building, state infrastructure, water tasks, catastrophe restoration, and curiosity buydown for native companies, reported complete property of $875 million. 

The financial institution’s complete property on the finish of the yr had been a report $10 billion, a rise of $2.3 billion attributable to Legacy Fund earnings, further tax income, greater correspondent financial institution deposits and federal American Rescue Plan {dollars}. Treasury Providers held 13,255 buyer securities for $8.7 billion, up by practically 3,500 holdings and $4 billion since year-end of 2019, setting a report variety of buyer trades in 2021.

Normal & Poor’s (S&P) affirmed BND’s credit standing as A+/Steady in its annual overview carried out in 2021, secure from 2020. S&P is a U.S.-based monetary providers firm that publishes monetary analysis. Monetary establishments are usually reviewed yearly.

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“Our imaginative and prescient to be an agile accomplice that creates monetary options for present and rising financial wants resonates deeply inside every of our group members,” said BND Todd Steinwand, through information launch. “It conjures up me that our group at BND continues to evolve, searching for new alternatives to collaborate, create efficiencies and serve our stakeholders higher.”

Full copies of the 2021 Annual Report and S&P report can be found at

www.bnd.nd.gov

.





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North Dakota

North Dakota Voters Reject Marijuana Legalization

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North Dakota Voters Reject Marijuana Legalization


North Dakota voters defeated a measure calling for the legalization of recreational marijuana.

The outcome of the proposal wasn’t clear until Wednesday morning. North Dakota is one of a handful of states, including Florida and South Dakota, where recreational marijuana measures went before voters. Two dozen states have legalized recreational marijuana, the most recent being Ohio in 2023.

North Dakota voters rejected past measures in 2018 and 2022. The state’s Senate defeated two House-passed bills for legalization and taxation in 2021.

The measure sought to legalize recreational marijuana for people 21 and older to use at their homes and, if permitted, on others’ private property. The measure also outlined production and processing regulations, prohibited uses — such as in public or in vehicles — and would have allowed home cultivation of plants.

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Supporters said the measure would have allowed law enforcement to focus limited resources on more important issues, such as fentanyl. Opponents said marijuana has harmful physiological and societal effects.

Copyright 2024 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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TJ Semptimphelter’s cross-country journey to North Dakota

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TJ Semptimphelter’s cross-country journey to North Dakota


GRAND FORKS, N.D. (Valley News Live) – Like most hockey players, TJ Semptimphelter’s love for the game started with Learn to Skate lessons, and early on, he found out the crease was his home.

“I would go and sit in the crease, and I would tug on the instructor’s pants and say ‘Hey, can you let me put the pads on? I don’t want to skate around in circles. I want to go in the crease and move around,’” Semptimphelter said. “I think, ever since then, I just had a love for the position.

“It’s been a perfect marriage ever since, and I’m glad I made that decision.”

Semptimphelter is playing his final season of college hockey at North Dakota, but his journey to Grand Forks is a unique, cross-country venture.

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His college hockey career began at Northeastern in the 2021-22 season, where he backed up Devon Levi, who is now a goalie for the Buffalo Sabres.

“It was just great to have that ability to watch him and continue to implement little things in my game,” Semptimphelter said. “We’re kind of a similar stature, we like to play similar games, and it was great to just pick apart what he’s doing that allows him to have success, and then trying my best to implement that in my game.”

Then, he picked up his stride at Arizona St., where much heavier playing time helped TJ become one of the best goalies in Sun Devil history.

“It was great for me to just develop that endurance, I think, and that was a huge piece that I really gained from ASU, just really being ready for those back-to-back games, those long series when you’re on the road, and you’re not sure when you’re coming back home,” Semptimphelter said.

Now, the transfer goalie is embarking on his final collegiate campaign with North Dakota, a program that caught his attention two years ago, when UND faced TJ and Arizona State in the U.S. Hockey Hall of Fame Game in Las Vegas.

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“I remember coming out, T-Mobile Arena, looking around, and there was just a sea of green, everywhere I looked,” Semptimphelter said. “I think just feeling that level of support really drew me to this program, and I think fans, they might not always realize this, but how powerful it is to have that kind of support and that kind of energy behind you.”

And TJ is enjoying every moment.

“There’s nothing better than when they’re calling out the starting lineups, and just hearing the whole section going crazy for you and everybody else that’s joining you on the lines,” Semptimphelter said. “We want to do everything we can to bring a national championship home, not only for us and the staff, but for this amazing fanbase.”

North Dakota begins conference play this weekend when UND heads east to face off with Minnesota-Duluth starting Friday at 7:07 p.m.

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North Dakota dealership fuels school meals with car sales

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North Dakota dealership fuels school meals with car sales


DEVILS LAKE, N.D. — Staff at one car dealership in North Dakota are giving back to the community the best way they know how — by selling cars.

For the second year in a row, Devils Lake Cars is donating money to the Devils Lake Public School System.

During the month of November, they’ll donate more than $100 per car sold to the school’s Angel Fund.

That will cover the cost of more than 30 meals in the school system. The donations also cover negative balances for student’s school lunches. You can also donate to the the Angel Fund year-round.

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“We try to do things differently being in a smaller community,” Ben Bergstrom, the co-owner at Devils Lake Cars, said. “It’s a cool promotion not just because we get to give back to the community but also how the team gets involved.”

Last year, they raised more than $20,000 dollars, covering nearly 6,000 lunches and were able to eliminate almost all outstanding balances.





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