Bank of North Dakota President Eric Hardmeyer on Tuesday announced his retirement, effective July 6.
The bank's longest-serving president made the announcement at a meeting of the state's Industrial Commission, which oversees the bank. The Mott native has been with the nation's only state-owned bank since 1985, when he started as an administrative assistant to then-President Joseph Lamb.
He became president in 2000 after several roles in commercial lending, succeeding John Hoeven, who was elected governor that year and a U.S. senator in 2010.
“It has been a privilege to serve the state of North Dakota and work beside so many outstanding employees for so many years,” Hardmeyer said in a statement. “Their positive attitudes and dedication to making things better for North Dakotans inspires me every day.”
Hardmeyer's time as president coincided with major economic events, including the Bakken oil boom, natural disasters and the coronavirus pandemic. He also worked with the Legislature to build a new bank headquarters, which opened in 2008 in Bismarck.
During his leadership, bank assets ballooned from $1.81 billion to $7.74 billion, and its loan portfolio grew from $1.16 billion to $4.75 billion. The bank also has seen 16 consecutive years of record profits since 2004.
“After more than two decades as president, Eric has left the Bank in a tremendously strong position to continue to adapt to new challenges and develop programs that positively impact every North Dakota family," Gov. Doug Burgum said in a statement. "We are deeply grateful for his longtime service and dedication to creating a brighter future for the citizens of our great state.”
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