Question 1

What is State Bank & Trust of Kenmare?

Accepted Answer

State Bank & Trust of Kenmare is a community-oriented commercial bank headquartered in Kenmare, North Dakota. With approximately $188.6 million in total assets and $171.7 million in deposits, the bank serves rural communities in northwestern North Dakota with a specialized focus on agricultural banking.

Operating as an independent, locally owned institution, State Bank & Trust of Kenmare is structured as an S-Corporation with fiduciary powers. The bank maintains three full-service branches and employs approximately 21 staff members who provide personalized banking services to individuals, farms, and businesses throughout the region.

Question 2

When was State Bank & Trust of Kenmare founded?

Accepted Answer

State Bank & Trust of Kenmare was founded in 1925, establishing nearly a century of service to the Kenmare community and surrounding areas. The bank was created to serve the agricultural and commercial needs of Ward County and the broader northwestern North Dakota region during a period of rural growth and development.

Throughout its history spanning nearly 100 years, the institution has remained committed to its community banking roots while adapting to serve evolving customer needs. The bank has grown through both organic expansion and strategic acquisitions, including the 2017 purchase of the local BNC Bank branch in Kenmare, which added convenient drive-up facilities and extended business hours for customers.

Question 3

Where is State Bank & Trust of Kenmare headquartered?

Accepted Answer

State Bank & Trust of Kenmare is headquartered at 4 2nd Street NW, Kenmare, North Dakota 58746. Kenmare is a small city located in Ward County in the northwestern portion of the state, situated within the Minot, ND Core Based Statistical Area (CBSA).

Question 4

Where does State Bank & Trust of Kenmare operate?

Accepted Answer

State Bank & Trust of Kenmare operates primarily in northwestern North Dakota, with three branch locations serving Ward County and the surrounding region. The bank's service area is centered in the Minot, ND metropolitan area, providing accessible banking services to rural communities throughout this agricultural region.

All three of the bank's offices are domestic locations, focusing exclusively on serving local North Dakota communities. The bank maintains a strong local presence with personalized service and decision-making authority vested at the community level.

Question 5

What services does State Bank & Trust of Kenmare offer?

Accepted Answer

State Bank & Trust of Kenmare offers a comprehensive range of personal, commercial, and agricultural banking services tailored to meet the needs of its rural community. Personal banking services include checking accounts, savings accounts, money market accounts, certificates of deposit (CDs), individual retirement accounts (IRAs), health savings accounts, and safe deposit boxes.

Lending services are a core strength, with the bank's loan portfolio heavily weighted toward agricultural and commercial lending. Key loan products include farm loans (13.35% of portfolio), commercial and industrial loans (17.44% of portfolio), commercial real estate loans, 1-4 family residential mortgages, home equity loans and lines of credit, consumer auto loans, personal loans, and credit card services.

Digital banking services provide 24/7 account access through online banking and mobile banking applications available for download on iOS and Android devices. Digital features include account balance viewing, fund transfers, mobile check deposit, bill pay services, debit card management with personalized alerts and travel notifications, direct banker chat functionality, budgeting and goal-setting tools, and transaction organization with tags, notes, and receipt photos.

Trust and fiduciary services are also available, as the bank holds and exercises fiduciary powers to assist customers with estate planning and wealth management needs.

Question 6

What makes State Bank & Trust of Kenmare unique?

Accepted Answer

State Bank & Trust of Kenmare distinguishes itself through its agricultural banking specialization, formally designated by federal regulators. This specialization reflects the bank's deep expertise in serving farmers and agricultural businesses, with farm loans comprising 13.35% of its loan portfolio and commercial and industrial loans (many agriculture-related) representing another 17.44%.

The bank's financial strength is notable, with a Texas Ratio of 0% as of March 2025, indicating exceptional asset quality with zero non-current loans and zero owned real estate. This reflects conservative underwriting practices and strong credit risk management.

As a truly independent, locally owned community bank, State Bank & Trust of Kenmare maintains local decision-making authority and personalized relationships with customers. The bank is not part of a larger multi-state holding company, allowing it to remain flexible and responsive to community needs.

The institution's strong profitability metrics include a return on assets (ROA) of 0.81% and return on equity (ROE) of 13.65%, demonstrating efficient operations and solid earnings performance. With regulatory capital ratios well above minimum requirements (Tier 1 Leverage Ratio of 8.94%, Total Capital Ratio of 16.87%), the bank maintains a strong capital cushion to support continued growth and economic stability.

Question 7

What type of financial institution is State Bank & Trust of Kenmare?

Accepted Answer

State Bank & Trust of Kenmare is a state-chartered commercial bank with agricultural specialization. As a state bank, it operates under a charter granted by the North Dakota State Banking Department and is regulated by the Federal Deposit Insurance Corporation (FDIC) as its primary federal regulator.

The bank is not a member of the Federal Reserve System, which is common for smaller community banks that choose FDIC regulation instead. Its designation as a commercial bank reflects its broad service offering to both retail consumers and commercial/agricultural business customers, distinguishing it from institutions that focus exclusively on consumer banking or specialized lending niches.

The agricultural specialization classification recognizes that the bank's lending portfolio, expertise, and market focus are significantly oriented toward serving the farming and ranching community that forms the economic backbone of northwestern North Dakota.

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