Todd Steinwand was named Bank of North Dakota’s new president/CEO July 27 following the retirement of the institution’s longest-serving president, Eric Hardmeyer.
Officials on North Dakota’s three-member Industrial Commission announced Steinwand’s appointment during a July 28 meeting. Steinwand had held his new role in an interim capacity since Hardmeyer stepped down after 21 years at the head of the bank.
Steinwand grew up in Ellendale, N.D., and graduated from the University of Jamestown with bachelor’s degrees in business administration and history-political science. He spent 33 years at Wells Fargo in various banking and leadership positions before being recruited to BND in 2015 as the senior vice president and chief business development officer.
“It is an honor to be selected for this position,” Steinwand said. “Eric Hardmeyer retired with the Bank in a strong position, and I look forward to leading and implementing our mission, ‘to support agriculture, commerce and industry in North Dakota forward.”
According to Bank of North Dakota, Steinwand helped to reorganize the BND business banking division to better serve local financial institutions across the state and directed the management of BND’s student loan portfolio and mortgage loan program. He also successfully led the development and implementation of farm and business disaster relief programs and expanded economic development programming to better meet the financing needs of businesses across the state. He is seen as an advocate for government efficiency and oversaw a collaborative effort between state agencies to create a common application system for infrastructure loans for municipalities and forged closer relationships across agencies and higher education across the state. Steinwand has served on the boards of directors for nonprofits, including as chair of the Bismarck-Mandan Chamber and Chamber Foundation and chair of the North Dakota Bankers Association. He serves on the board of trustees for the University of Jamestown and as a member of the board of directors for the Tom and Frances Leach Foundation.
“Todd Steinwand is an excellent choice to serve the state as the Bank’s president,” stated the Industrial Commission in a joint statement. “With five years of experience at the Bank and over three decades in private banking in North Dakota, Todd has a full grasp of the unique role the Bank plays for the state, including its role in economic development and disaster relief for farmers and businesses.”
The only state-owned bank in the country, the Bank of North Dakota posted $9.2 billion in assets and a loan portfolio nearing $4.8 billion as of June 30. The bank also administers more than $1 billion in state and administered loan programs as directed by the Legislature.