BISMARCK, N.D. — Bank of North Dakota President and CEO Eric Hardmeyer announced Tuesday, April 27, he will soon retire from a role he has held for more than two decades.
Hardmeyer, who started with the bank 35 years ago and took over the top executive job from now-U.S. Sen. John Hoeven in 2000, told the state Industrial Commission he will step down on July 6. The Mott native noted that Chief Financial Officer Tim Porter will also retire later this year. Todd Steinwand, the institution's chief business development officer, is in line to take over Hardmeyer's position on an interim basis.
"I couldn't imagine a more fulfilling career," Hardmeyer said. "The opportunity to work for the state of North Dakota, to improve the lives of many across the state, to develop programs that are game-changers for our citizens is a career that most people would dream about having. I've lived that dream and feel really good about my time at the bank and where I'm leaving the bank."
Under Hardmeyer, the bank's assets and loan portfolio more than quadrupled, while profits peaked 16 years in a row, state officials said in a news release. The bank also garnered national attention during the COVID-19 pandemic for efficiently facilitating loans to local businesses.
The headquarters of the Bank of North Dakota — the country's only state-owned bank — sits near the Missouri River in Bismarck. Photo via Bank of North Dakota
Gov. Doug Burgum commended Hardmeyer on a job well done, crediting him with overseeing tremendous growth and innovation at the 102-year-old institution.
Attorney General Wayne Stenehjem said Hardmeyer was instrumental in helping students excel through loans, scholarships and savings accounts. Hardmeyer, appearing via video chat, became emotional as Burgum and Stenehjem heaped praise on him.
The nation's only state-owned financial institution aims to promote industry, commerce and agriculture in North Dakota, while offering loans to students and businesses. The commission, which includes Burgum, Stenehjem and Agriculture Commissioner Doug Goehring, oversees the bank.
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Longtime Bank of North Dakota CEO Eric Hardmeyer to retire - AG Week
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