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The growth in North Dakota’s oil industry is quickly changing the state. Oil money has brought development and jobs. One unusual organization in North Dakota has been playing a part in this expansion. The Bank of North Dakota, based in Bismarck, is the only state-operated bank in the United States. The bank’s yearly report says it has had 10 straight years of record profits. That includes years during the financial crisis of 2007 and 2008 when many banks failed. The bank provides or secures loans for local businesses. Cam Holt is a young businessman who returned to his hometown of Williston, North Dakota. He started a restaurant in 2011 and the business is doing very well. Mr. Holt credits the bank for lending him the money when other banks may have not. State officials established the bank in 1919. It was designed to help control lending rates for farmers. Bank leader Eric Hardmeyer says its purpose has changed over the years. Now it supports general economic development. Mr. Hardmeyer says the organization has gone from a $4 billion bank to a $7 billion dollar bank in the last five years. The official says the bank is successful partly because it is responsible to taxpayers not shareholders. The bank’s purpose is to finance agriculture, commerce and industry, he says. The effects of the bank’s lending go beyond the state’s oil fields. The bank has put $300 million dollars in profits into the general savings of North Dakota in the last 10 years. This Economics Report was based on a report by Kane Farabaugh.