News

BISMARCK, N.D. – The North Dakota Tax Commissioner’s Office and Energy & Environmental Research Center (EERC) have released reports that forecast the economic potential of CO₂-enhanced oil recovery (CO₂-EOR) in North Dakota. These studies underscore the state’s strategic advantages in leveraging CO₂ utilization to drive sustainable energy production, economic growth and environmental benefits over the next 20 years.

BISMARCK, N.D. – The Industrial Commission reports that Standard & Poor’s (S&P) affirmed Bank of North Dakota’s (BND) credit rating as A+/Stable in its annual review released Jan. 14. 

BISMARCK, N.D. - The North Dakota Industrial Commission today approved Bank of North Dakota’s 2024 Ag Disaster Relief program to assist North Dakota farmers and ranchers statewide who were negatively impacted by extreme weather events, wildfires, inflationary input costs and volatility in commodity prices. The Bank has set aside $200 million for the program. Producers may apply through their local lender after working with them to determine if the program is appropriate for the producer’s situation.   

BISMARCK, N.D. – The Industrial Commission today accepted the retirement resignation letter of Todd Steinwand, President and CEO of Bank of North Dakota (BND), effective July 2, 2024. Steinwand has been with BND since 2015 when he was named the Senior Vice President and Chief Business Development Officer. He was promoted to President and CEO of the Bank in July 2021, with the retirement of Eric Hardmeyer.  

BISMARCK, N.D. – The Industrial Commission approved the Rural-Workforce Initiative to Support Housing (R-WISH) pilot program at its June 26, 2024, meeting. The R-WISH pilot will support rural communities of 20,000 residents or less with construction of market rate housing for workforce when a company is locating or expanding its operations. The program will utilize up to $10 million of Bank of North Dakota (BND) capital to complement the work being done by the North Dakota Housing Finance Agency and the North Dakota Housing Initiative Advisory Committee. 

BISMARCK, N.D. – The state-owned Bank of North Dakota (BND) reported total assets of $10.1 billion at year-end 2023, consistent with the previous year. With record profits of $192.7 million, an increase of $1.5 million from 2022, the Bank also had an excellent return on investment of 18.2%. BND’s profits are utilized to support loan participations with partner financial institutions and to support disaster recovery programs.  Profits may also be used to support legislatively directed loan programs and capital transfers to the general fund as needed.  Excess earnings are retained and accumulated to fund capital.

BISMARCK, N.D. (FEB 27, 2024) – The North Dakota Industrial Commission, comprised of Governor Doug Burgum, Attorney General Drew Wrigley, and Agriculture Commissioner Doug Goehring, released the following statement regarding the passing of former Bank of North Dakota President and CEO Eric Hardmeyer, who began his career with the Bank in 1985 and served as the Bank’s President and CEO from 2001-2021. Hardmeyer died Saturday, Feb. 24, at the age of 64.

BISMARCK, N.D. – Todd Steinwand, President and Chief Executive Officer of Bank of North Dakota (BND), has announced his intention to retire in the second quarter of 2024. An exact date has not been established but he pledged to continue to work with the Industrial Commission (Commission) during the transition. An executive search committee was approved at today’s Industrial Commission meeting.

BISMARCK, N.D. – The state-owned Bank of North Dakota (BND) reported total record assets of $10.2 billion at year-end
2022. The growth enabled the Bank to increase its loan portfolio to a record $5.4 billion in loans to the state’s farmers and
ranchers, business owners and students in North Dakota. In addition, the Bank reported a record profit of $191.2 million in
2022, up $47 million from 2021.

Standard & Poor’s (S&P) affirmed Bank of North Dakota’s (BND) credit rating as A+/Stable in its annual review released Oct. 27, 2022.