Author: Bank of North Dakota

Bank of North Dakota releases 2022 Annual Report

Read 2022 Annual Report now 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. Read More

The Perfect Month to Celebrate College Savings

May is the perfect month to recognize and celebrate 529 college savings plans. Why? Because like May flowers–with investment and time—they grow. Bank of North Dakota’s College SAVE Plan and KX News Network have partnered and are celebrating 529 plans in May by giving away five $529 contributions. Visit to enter the drawing. Registration ends May Read More

New index established for calculating interest rates

Bank of North Dakota bases many of its variable interest rate loans using the benchmark index U.S. Dollar LIBOR (USD LIBOR). USD LIBOR will be discontinued after June 30, 2023. A change in the benchmark index for calculating interest on your loan is supported by either the Federal Adjustable Interest Rate (LIBOR) Act of 2021 Read More

Phishing Scams Delivered by Text

Phishing scams are the most effective ways for people to gain important and valuable information about your login name and password. Many of us have heard about phishing email scams and campaigns, but most people do not realize or understand that phishing scams can also take on the appearance of a text message on mobile Read More

Remembering Wayne Stenehjem

As you have likely heard, Industrial Commission member and Attorney General Wayne Stenehjem passed away Friday. Wayne’s connections to BND run deeply. His dad, Martin, started the federal student loan program at Bank of North Dakota. Over the years, he would speak fondly of this connection and was a strong supporter of the Bank and Read More

Creating Strong Passwords

Tip 1 BND has your security in mind as we handle your information, but you can protect your account by creating a strong password. Here’s a way to create a password that’s very hard to crack by following these steps: Think of a phrase or sentence with at least eight words. It should be something Read More

Todd Steinwand named President of Bank of North Dakota

BISMARCK – The Industrial Commission named Interim Bank of North Dakota (BND) President Todd Steinwand as President of the Bank at its meeting on July 27, 2021. Prior to acting as interim President, Steinwand served as BND’s Chief Business Development Officer. Steinwand, succeeds Eric Hardmeyer, who held the position for 21 years, the longest-serving president Read More

Industrial Commission authorizes BND loan programs for livestock producers

BISMARCK, N.D. – The North Dakota Industrial Commission today approved two new Bank of North Dakota (BND) loan programs to help the state’s livestock producers cover expenses related to the extreme drought conditions in the state. Producers must work with their local lender to determine if the programs are appropriate for their situation and make Read More

Career Compass

Bank of North Dakota Releases 2020 Annual Report

BISMARCK – The state-owned Bank of North Dakota (BND) reported a profit of $141.2 million in 2020, down from $169 million in 2019 with a return on investment of 15%, according to information presented to the Industrial Commission (Commission) in BND’s annual report today. The report’s theme, “Responding with Confidence,” focuses on the important role Read More

Eric Hardmeyer Announces Retirement From Bank of North Dakota

BISMARCK – Bank of North Dakota (BND) President Eric Hardmeyer announced his retirement effective July 6, 2021, at the Industrial Commission meeting today. Hardmeyer has been in the role since 2000, qualifying him as the longest-serving president in the Bank’s 102-year history. A Mott, North Dakota native, he began his career in 1985 as an Read More

College SAVE Awards March Money Madness Scholarships

Bismarck – Nearly 1,400 North Dakota students, ages 13-19, participated in Bank of North Dakota’s March Money Madness, a financial literacy exercise, which qualified them for a drawing for one of two $1,529 College SAVE scholarships. The 2021 recipients are Annika Tweten from Jamestown High School and Jocelyn Kulseth from Bowman High School. College SAVE Read More

2020 Financing Economic Development Report

Bank of North Dakota’s 2020 Financing Economic Development Report has been released and highlights the economic development initiatives that our employees, partnerships with the local lending community and stakeholders were able to accomplish during a worldwide pandemic.

State of Change Videos Highlight BND’s Impact

Bank of North Dakota visited communities across the state in late 2019 and early 2020 to discuss the impacts of BND programs on their communities whether through supporting businesses or infrastructure. Click on the link to watch the videos. Flex PACE Loan Program School Construction Loan Program Infrastructure Revolving Loan Fund Medical Infrastructure Loan Program Read More

State’s Home Mortgage Programs to Consolidate under NDHFA

Bank of North Dakota (BND) and North Dakota Housing Finance Agency (NDHFA) are taking the first steps toward consolidating the roles they play as state agencies in financing residential real estate. Because both agencies provide mortgage loans, they began meeting in 2019 to discuss ways to implement Governor Burgum’s directive to increase efficiency in state Read More

College SAVE announces new match program for kindergarten children

Bank of North Dakota’s (BND) College SAVE Plan announced a new match program that encourages families with children entering kindergarten to save for college. The Kindergarten Kickoff Match will deposit $100 into a new or existing College SAVE account as an incentive to set aside a portion of the family’s daycare budget and start saving Read More

New PPP Provisions

On January 12, 2021, Bank of North Dakota hosted Al Haut, District Manager for the Small Business Administration, to explain the second round of the Paycheck Protection Program signed into law December 27, 2020. Access the recording and PowerPoint presentation from the webinar below: Your Direct Line Webinar: New PPP Provision (Recording) PowerPoint Presentation (PDF)

COVID Relief Numbers Announced

Nearly 400 business sectors across North Dakota received funding through one of four COVID-relief programs established by Bank of North Dakota. The Bank utilized its network of banks and credit unions across the state to ensure the delivery of funds happened as quickly and efficiently as possible. Applications were accepted through November 30, 2020 for Read More

ND Dollars for Scholars accepting applications

North Dakota Dollars for Scholars is accepting scholarship applications from North Dakota high school seniors and current college students. A total of $85,000 in scholarships will be awarded, ranging from $500 to $2,500 each for the 2020-21 academic year. Every student who graduated from or will graduate from a North Dakota high school can apply, Read More

A Christmas Gift that Makes a Difference

According to the National Retail Federation, Americans plan to spend an average of $700 on Christmas gifts this year. Unless you happen to be an extraordinary gift-giver, chances are that a portion of those gifts are going to be forgotten, thrown away or re-gifted. What gift can you give that you know your friends and Read More

Bank of North Dakota’s S&P credit ratings affirmed

Standard & Poor’s (S&P) affirmed Bank of North Dakota’s (BND) credit rating as “A+” and “A-1” for long-term and short-term credit, respectively, in its annual review released Nov. 9, 2020.

Industrial Commission Approves New Bank of North Dakota COVID Relief Program

Bismarck – The Industrial Commission approved a $50 million interest buydown program to be administered by Bank of North Dakota (BND) for businesses with decreased revenue related to the COVID-19 pandemic. The program, COVID PACE Recovery II, (CPR II), will be funded by CARES Act dollars assigned to Bank of North Dakota. North Dakota business Read More

Bank of North Dakota Expands Loan Options for Tech Firms

BISMARCK – The Industrial Commission approved a Bank of North Dakota (BND) request to expand the parameters of the Accelerated Growth Loan Program. The expansion enables technology companies to utilize an increased amount of monthly recurring revenues as a repayment source that allows the loan limit to grow with the company.  In addition, BND is Read More

Bank of North Dakota Releases 2019 Annual Report

BISMARCK – The state-owned Bank of North Dakota (BND) recorded its 16th consecutive year of record profits in 2019, with $169 million in net earnings, the Bank reported today in its annual report to the state Industrial Commission (Commission). The report’s theme, “From Surviving to Thriving,” focuses on the events and accomplishments of the Bank’s Read More

Calculators Can Help Prevent Unwanted Surprises

Surprises are great – sometimes. When it comes to budgeting and financials, it’s much better to be educated and make thoughtful decisions. BND has created a series of calculators to help you plan so you don’t take on too much student loan or credit card debt. Budget calculator Add up your income and subtract your Read More