Hardmeyer - City Magazine

| COVER STORY
Eric Hardmeyer
Fueling the Economy at BND
“For BND, as we look to the
future, our immediate challenges
will be to ensure our permanent
role in the student loan industry
and to deal with management
succession issues.”
– Eric Hardmeyer
By Tom Regan
The Bank of North
Dakota (BND) was
born of necessity and
innovation. In 1919,
North Dakota through a wide
range of services, including
agricultural, commercial,
residential and student loan
In the past 12 years, BND
contributed a total $340
million to the state’s general
fund and retained $120
the state legislature established programs.
million.
the bank, the only state-owned Despite shaky economic Behind BND’s remarkable
bank in the nation, in response times, BND, celebrating success is 50-year-old Eric
to the serious problems in the 90 years and a new home, Hardmeyer, a native of Mott,
agricultural industry.
remains strong. The bank’s where his father was an
Over the decades, BND earnings in 2008 were $57 implement dealer, the mayor
became the “development million, representing the sixth and a state legislator.
bank” for the state, fostering straight year of record profits. Hardmeyer began his 24
growth and diversification
Loan growth for 2008 was years of service to BND as a
across all sectors of the
$613 million, more than a loan officer. In 1995, he was
economy: agriculture,
30-percent increase. Over the named Senior Vice President
commerce and industry. last 10 years, the bank’s total of Lending; he ascended to the
The bank influences assets have mushroomed from presidency in 2001. –Staff
the economic well-being of $1.6 billion to $3.5 billion.
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