Category: BND News

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

BISMARCK, N.D. – 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. The ratings are consistent with those given by S&P in November 2021. S&P is a U.S.-based financial services company that publishes financial research. Financial institutions are typically reviewed annually, but Read More

Surprises are great – sometimes. One thing you don’t want to be surprised by is your student loan payment. While you may think it’s better to sign the paperwork and worry about it later, you may not like what you find out. It’s better to be confident and educated when making student loan decisions. BND has Read More

BISMARCK – The state-owned Bank of North Dakota (BND) reported a profit of $144.2 million in 2021, a slight increase from $141.2 million in 2020 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, “Evolving,” focuses on how the Bank Read More

Bismarck – Last month, North Dakota students, ages 13-19, had an opportunity to participate in Bank of North Dakota’s March Money Madness, a financial literacy exercise, which qualified them for a drawing for one of four $529 College SAVE scholarships. The 2022 recipients are Allyson Webster from Stanley High School, James Lien from Fargo North Read More

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

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

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

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

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

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.

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

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

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

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)

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

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.

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

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

Bismarck- The North Dakota Industrial Commission today authorized the Bank of North Dakota (BND) to provide two financing programs to assist North Dakota businesses in obtaining long-term, low-interest loans to assist in the state’s economic recovery from the COVID-19 pandemic. The loan programs will help both small and large businesses to secure working capital and Read More

Bismarck – Bank of North Dakota announced that its College SAVE 529 plan is sponsoring the EVERFI National Financial Bee, taking place April 20-30, 2020. The National Financial Bee is a first-of-its-kind nationwide financial literacy challenge for students in grades 7-12. To participate in the National Financial Bee, students may complete five 15-minute modules before Read More

Bismarck- The North Dakota Industrial Commission today approved a second Bank of North Dakota (BND) loan program to help the state’s farmers and livestock producers cover operating shortfalls and term debt payments, and to restructure existing debt. The Ag Disaster Relief Loan Program allows up to a 10-year amortization for chattel and up to a Read More

Bank of North Dakota released its first joint publication with the North Dakota Department of Commerce. Advantage: North Dakota highlights economic development activities and funding opportunities happening in our state. The publication, which will be released 2-4 times year, can be quickly skimmed through and offers links to more information. View the first Advantage: North Read More

BND’s College SAVE plan is thrilled to be joining Pride of Dakota members across the state this fall and winter at Harvest Showcase and Holiday Showcase events. Stop by our booth for answers to your questions about paying for college and to have photos taken of the children in our life – your ‘pride and Read More