Gov. Doug Burgum today congratulated the Bank of North Dakota on its 100th anniversary and thanked team members past and present for their service and contributions to the Bank’s success and positive impact on North Dakotans throughout the years.
The Bank of North Dakota opened its doors in downtown Bismarck for the first time on July 28, 1919. While it wasn’t first state-owned bank in the nation, it remains the only one in operation. The Bank is overseen by the state Industrial Commission, which consists of Burgum as chairman, Attorney General Wayne Stenehjem and Agriculture Commissioner Doug Goehring, all of whom spoke at today’s anniversary celebration attended by dozens of current and former Bank employees and community members.
“Over the past 100 years, the Bank of North Dakota has been playing that critical role of helping to empower people, improve lives and inspire success across the state,” Burgum said. “It was established in the charter ‘for the purpose of encouraging and promoting agriculture, commerce and industry,’ and the Bank of North Dakota has proven itself to be a valuable resource – empowering our local and community banks, supporting our businesses and individuals by ensuring capital availability in all communities across our state.”
“One of the key roles that this bank plays is in sharing risk with our local and community banks. They’ve been able to provide loans and invest in entrepreneurs and innovators that they might not have been able to otherwise without the Bank of North Dakota,” the governor added. “And because of that, today we have one of the healthiest local and community banking organizations in America right here in North Dakota because of the role that they’re playing.”
Burgum also highlighted the Bank’s important role in the state’s ability to respond to natural disasters such as floods and droughts, as well as the many lives the Bank has touched through its programs related to agriculture and student loans. He expressed his gratitude and credited the Bank’s success to its team members and leadership, including current President and CEO Eric Hardmeyer. The Bank recently recorded its 15th consecutive year of record profits, earning $159 million in 2018.
The Bank has created a website, TheBNDStory.nd.gov, detailing its first 100 years with anecdotes, videos and written commentary about its history.