Turtle Mountain State Bank had its ribbon cutting ceremony yesterday.  According to a Minot Daily News article, the bank is the state’s first American Indian-owned bank.  It’s also the first privately-owned, American Indian-owned bank in the nation to be located on a reservation.  Gov. John Hoeven, Senator Kent Conrad (D-ND) and majority owner James Laducer all participated in the celebration.

While a bank may not solve all the poverty-related problems the reservation faces, it’s a step in the right direction.  From the article: 

Hoeven said the bank is a source of capital for the region to pursue their dreams, and Laducer is a great example of entrepreneurship for others to follow as he is doing great things for many, including the family, community and state. Hoeven hopes the bank’s opening will inspire other entrepreneurs to step up.

“Jim (Laducer) is a source of inspiration for the community and state,” said Hoeven.

Conrad said both the Turtle Mountain State Bank and Turtle Mountain Community College are foundations of future successes for the community and will make a profound difference over time.

“This institution can provide capital, and you can’t provide (an) economy without capital,” Conrad said.

Incidentally, majority owner James Laducer is a fine example of North Dakota entrepreneurism.  Laducer opened Laducer & Associates, a very successful information management company, in 1985.  He said the bank was a lifelong dream of his and was 15 years in the making.   

Those who have seen or experienced first-hand the poverty our reservations face may see this bank as a real cause for celebration.  It’s certainly a cause for celebration in North Dakota.