The single biggest selling point—why one needs to do this—is the question of sovereignty…. Proverbs 22:7 says, ‘The borrower is servant to the lender.’ Politicians…are supposed to be servants of the sovereign people, but not of the bankers. If they don’t want to be servants to the bankers, then they need, by definition, a sovereign bank.”

Professor Richard A. Werner 

Why Your State Needs a Sovereign State Bank

As centralized financial power tightens its grip through federal regulation, states like Florida are beginning to take bold, strategic steps to protect their economic independence. One of the most promising tools for doing so is the creation of a sovereign state bank—designed not to compete with but to support local community banks and credit unions.

Florida is currently studying the formation of the State Bank of Florida (SBFL), inspired by the success of the Bank of North Dakota (BND)—the only existing state-owned bank in the U.S.

This kind of structure is not just a good idea—it’s a proven model. In North Dakota, over 80% of deposits remain in community banks and credit unions, compared to a national average of just 30%. That’s not a coincidence: the BND’s cooperative model ensures a resilient local banking ecosystem, better serving small businesses, farmers, and families. Community banking credit and liquidity is instrumental in financing the growth of family enterprises and wealth – a critical infrastructure during changing times.

Florida’s effort builds on research by Professor Richard A. Werner, a leading global authority on central banking. In his report for the state titled The Case for a State Bank of Florida (SBFL): Business and Economic Case, Werner outlines numerous ways in which a state bank would benefit Florida.

For states with legal or constitutional barriers to public bank ownership, alternative models—such as a privately owned state-level bank chartered to serve the same public interest—may be viable. Legislative action could begin with the establishment of a commission or working group to study the optimal structure, governance, and legal framework needed.

At a time when digital currency threats loom and local economies are being squeezed by global forces, Florida has the chance to lead the way in reclaiming financial autonomy. A sovereign state bank isn’t just about money—it’s about power, resilience, and states’ freedom to chart their own economic future.

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