78 banks currently operate in the state of North Dakota. These are banks that are also insured by the federal deposit insurance corporation. Of this amount, 68 of these banks are headquartered in the state and therefore can be considered North Dakota-based banks. Banks operating within the state had in total $47 billion of assets, $41 billion of deposits and $31 billion of loans outstanding as of this writing. Overall and in aggregate residential mortgages made up 13% of the assets managed by banks in North Dakota. Further, these banks also currently employ in total 7,819 people within the state, which represents 1.0% of the population.

Density of Banks in North Dakota

There are a total of 416 bank branches located within the state of North Dakota. This works out to a ratio of approximately 5.5 branches per 10,000 people in North Dakota.  If we take the data on the banks in North Dakota and compare it with the banks operating in other states, we find that on this metric, banks in North Dakota rank 1st out of the 52 states and territories. This is ranked in order of most to least branches per capita.  Another way to view this is by looking at the physical accessibility. On this basis, banks in North Dakota had on average 0.6 branches per 100 square miles. As a result, North Dakota ranks 45th out of 52 states and territories in terms of most branches per square mile.

Performance of Banks in North Dakota

performance-of-banks-in-North Dakota

  • Net Interest Margin – banks in this state are on average above the national average on this metric. In total the net interest margin for the banks in North Dakota is ranked 8th out of the 52 states and main territories in the country.
  • Return on Assets – in terms of this important return metric, banks in this state are on average higher than the national average. Altogether the Return on Assets for the banks in North Dakota is ranked 3rd out of the 52 states and main territories in the country.
  • Return on Equity – banks in the state of North Dakota are on average generating a higher return on equity than the average bank in the United States. In total, the return on equity for banks in North Dakota is ranked 3rd out of the 52 states and main territories in the United States.
  • Loan to Deposit – Banks in this state are on average below the national average when it comes to loan to deposit. Loan to deposit ratio is a good way to assess the liquidity of a bank. Lower is better as it means that a bank is funding more of its lending activities with its deposit base. Banks in North Dakota are ranked 14th out of the 52 states and main territories in the country when it comes to loan to deposits.
  • Nonperforming Assets – this metric is a good way to compare the quality of the assets of a bank as well as the performance of the assets. Banks operating in the state of North Dakota are on average better than the national average when it comes to nonperforming assets. The level of nonperformance is what is important as a higher figure indicates a lower quality or a lower performing asset base. In total, banks in North Dakota are ranked 19th out of the 52 states and main territories in the country on this metric.

5 Largest Banks in the state of North Dakota

deposit-market-share-of-banks-in-North Dakota

Based on the latest available data, Bell Bank is the largest bank operating in North Dakota based on its deposit share. Bell Bank currently has a 13% share of deposits within the state. Below is summary information on the top 5 largest banks in North Dakota.

Bell Bank

Bell Bank currently has the largest share of deposits within the state and has $4.8 billion of deposits. In addition to this the bank also has 9 offices within the state, which represents 32% of its total domestic offices.

Main Office Address: 3100 13th Ave, S. Fargo, ND 58103

Website: http://www.bell.bank

First International Bank & Trust

First International Bank & Trust currently has the second largest share of deposits within the state and has $3.2 billion of deposits. The bank also has 21 offices within the state, which represents 70% of its total domestic offices.

Main Office Address: 100 N. Main St. Watford City, ND 58854

Website: http://www.fibt.com

Gate City Bank

Gate City Bank currently has the third largest share of deposits within the state and has $2.4 billion of deposits. The bank also has 35 offices within the state, which represents 80% of its total domestic offices.

Main Office Address: 500 2nd Ave. N. Fargo, ND 58102

Website: www.gatecity.bank

Wells Fargo Bank

Wells Fargo Bank currently has the fourth largest share of deposits within the state and has $2.3 billion of deposits. Further, the bank also has 18 offices within the state, which represents 0% of its total domestic offices.

Main Office Address: 101 N. Phillips Ave. Sioux Falls, SD 57104

Website: www.wellsfargo.com

U.S. Bank 

U.S. Bank  currently has the fifth largest share of deposits within the state and has $2.2 billion of deposits. In addition, the bank also has 22 offices within the state, which represents 1% of its total domestic offices.

Main Office Address: 425 Walnut St. Cincinnati, OH 45202

Website: www.usbank.com