I want to thank everyone for coming to the Public Banking presentation last night. It was a great event and lots of interesting questions and observations. I hope to do it again sometime, and maybe even outside the school. Materials are available for dissemination and so am I! Don't forget to check out the PBI site: http://publicbankinginstitute.o... and this recent article by my publisher at Op Ed News on a PB presentation by PBI founder Ellen Brown gave on the same night: http://www.opednews.com/article...
1 · December 6, 2012
Bank of North Dakota Ratings Raised On Bank Criteria Update; Outlook Stable
· Following a review of Bank of North Dakota (BND) under Standard & Poor's revised bank criteria (published on Nov. 9, 2011), we have raised our long-term issuer credit rating on BND to 'AA-' from 'A+' and the short-term issuer credit rating to 'A-1+' from 'A-1'. The outlook is stable. At the same time, we have affirmed our 'AA+' rating on the bank's deposits, which parallels our issuer credit rating on the state of North Dakota.
· The anchor for BND is 'bbb+'. Our ratings reflect BND's strong business and risk positions, strong capital and earnings, average funding, and adequate liquidity. The 'AA-' issuer credit rating on BND also incorporates a one-notch uplift from its 'a+' SACP, based on the
application of our criteria for GREs.
· We expect that BND's strong capital and earnings and excellent asset quality will remain positive rating factors, despite the bank's limited geographic diversification.
0 · November 28, 2012