A financial research company says North Dakota has 13 of the nation's safest banks.
MINOT, N.D. (AP) - A financial research company says North Dakota has 13 of the nation's safest banks.
StreetAuthority LLC says it evaluated more than 7,300 banks nationwide. It used a tool that considers a bank's reserves against loan losses, and the number of loans it has that aren't being repaid.
The company says the tool has been used successfully to predict bank failures.
The Farmers State Bank of Crosby is one of the North Dakota banks on the list of the nation's safest banks.
President Paul Hanisch says that the bank has few loan defaults. He chalks that up to North Dakota values. He says: "It's nice to have customers that are honest, and we appreciate that.''
StreetAuthority identified 359 banks nationwide as the nation's safest.
(KFGO file photo)