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Two North Dakota banks, including State Bank & Trust, tap financial bailout funding

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FARGO - Fargo-based State Bank & Trust has tapped a federal fund to get a $50 million injection of capital by selling stock to the U.S. treasury that obligates it to pay dividends of at least 5 percent to taxpayers.

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Similarly, the parent company of BNC National Bank, with its headquarters in Bismarck, has sold equity of $20.1 million to the treasury to boost its capital.

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