President

2024 – Present

Growing up on a cattle ranch in Hulett, Wyoming instilled values of hard work and dedication early in Don Morgan’s life. He took up the family tradition of rodeoing at a young age, coming from a long line of ropers, eventually joining the professional ranks of rodeo from 2007-2012.

The rodeo team at the University of Wyoming is where Don met his future wife, Shanda. He followed her back to North Dakota in 2000. Shanda grew up on the Black Leg Ranch in McKenzie, North Dakota, and they both remain active on the ranch today. Black Leg is award-winning for its work in regenerative agriculture practices and for stacking enterprises like outfitting, wedding venues, ranch-to-market products and corporate events.

Don Morgan’s banking career began in 2001 as a credit review analyst. He credits his first boss, Dave Hoekstra, with teaching him about real banking, risk management, credit practices, strategy and corporate politics. Prior to him taking on the role of Bank of North Dakota’s president and chief executive officer on August 1, 2024, he rose through the ranks of the banking industry, serving as a market president, vice president of credit administration, chief credit officer, chief financial officer and chief executive officer of a North Dakota bank.

A certified public accountant, Don received a bachelor’s degrees in finance and accounting from the University of Wyoming in 2001 and a master’s degree in accounting from the University of Phoenix in 2009. He has volunteered for Make-A Wish, Mandan Saddle Club, 4-H, Future Farmers of America and High School Rodeo.

Don is a father of four children and a business owner with his wife, Shanda. He enjoys family rodeo, hunting, fishing and volunteer activities.

2021 – Present

Ellendale, North Dakota was home to Todd Steinwand who took the helm as president and chief executive officer of Bank of North Dakota (BND) in 2021.

Steinwand was the middle child of five children born to Victor and Orpha Steinwand. He learned the values of teamwork and dedication as he grew up a multi-sport athlete, playing football, basketball, baseball and running track. His skills interested what was then Jamestown College, today known as University of Jamestown, and he was offered a scholarship to play football and run track.

A 1982 college graduate with double majors in business administration and history/political science, Steinwand credits his parents and coaches with his strong work ethic and positive attitude. His first exposure to banking as a career choice came when his dad, an insurance agent, took him to a North Dakota Bankers Association meeting and introduced him to Norm Christensen, a banker from Wahpeton, North Dakota.

Norm Christensen proved to be the inspiration Steinwand needed to enter banking, a career track he never left. He started as a trust officer at First Northwestern Trust Company, an organization that became part of Wells Fargo over the years. Steinwand’s career with Wells Fargo spanned 33 years where he held nearly every position except teller, until he retired in 2015 and accepted the Chief Business Development Officer position at BND.

BND was supposed to be a job for just a couple of years to oversee some organizational transition, but it didn’t take Steinwand long to realize what a special place it was.  He enjoyed working with banking friends across the state, rather than competing with them. The Bank allowed him to influence his community and state in a meaningful way, something he learned from his father who had been the mayor of Ellendale for 12 years.

When Eric Hardmeyer retired in 2021, Steinwand served as interim president before being offered the position permanently.

1962-1968

Prior to joining the Bank of North Dakota, George Thompson was associated with the James River National Bank before moving to Bismarck in 1933 and taking a job at BND in the transit department. He held many positions within the Bank before becoming the credit department manager.

After Bill Guy forced Theodore Sette to resign, the Industrial Commission was deadlocked in its efforts to name a new manager. The two more conservative members of the Commission refused to endorse Guy’s nominees, and Guy vetoed their choices. The Governor is first among equals on the Industrial Commission. He can veto decisions made by the other two. During this impasse, a period of political upheaval in which Guy was accused of being a bully and a tyrant, and Guy accused his opponents of obstructing economic development in North Dakota, the three members were at least able to agree to make George M. Thompson acting Bank manager.

Thompson was nobody’s first choice, but he managed to hold on to his position until 1968, when Guy won an unprecedented fifth term as Governor or North Dakota. Guy now accepted Thompson’s retirement, but the Governor’s enemies exacted a significant concession. A Bank Advisory Board was created to supervise the State Bank of North Dakota and protect it somewhat from the political dynamics of the elected Industrial Commission.

Thompson was married to his wife, Edith, who preceded him in death in 1970. He died December 19, 1977 at the age of 74 in Sun City, Arizona.

1957-1961

In 1954 the Bank hired its new manager from within its own ranks. Theodore W. Sette had worked for the Bank for 26 years. He specialized in purchasing municipal bonds.

Sette joined the Bank of North Dakota in 1927 as a clerk. He worked his way up the ladder. Governor Langer’s bank manager, Frank Vogel , made him director of the credit department in the late 1940s. By the 1950s, he was managing the Bank’s bond portfolio. In an interview, he said, “The way I see it, the most important thing was working with all the communities in the state. To be able to show them how to go about to get what they wanted … to be able to sell their bonds and get a decent rate.”

When William L. Guy, became governor of North Dakota in 1960, he pushed the Bank to be more active in the state’s economic development. He tried to ease the conservative Sette out of the Bank. When Sette refused to leave, Guy initiated an investigation of Sette’s outside financial interests. This brought on Sette’s resignation 35 years after he started at the Bank.

In 1962, Sette became president of the State Bank of Burleigh County and in 1964 president of the Independent Community Bankers of North Dakota. Sette was an important Bismarck businessman. He died in 1983.

1937-1944

Frank Vogel was born in St. Cloud, Minnesota February 6, 1888. After graduating from St. Cloud Teachers college, he moved to Anamoose, North Dakota at the age of 21. In 1913, he married Loruilla Larson in LaCrosse, Wisconsin.

He taught in schools located in Dazey and Underwood, North Dakota before beginning a career in banking in Coleharbor, North Dakota in 1916. When the bank closed in 1930, he became a deputy collector of the internal revenue in Bismarck until 1932.

Vogel was a colorful political leader in North Dakota. He is credited for helping William Langer win the 1932 gubernatorial election. He was considered the ‘behind the scenes’ strategist for the Nonpartisan League. He served as a tax commissioner and highway commissioner before becoming president of BND in 1937.

Vogel passed away in 1951 at the age of 63. He and his wife had five sons; Frank Jr. was killed in action during World War II.

1933-1936

Robert Stangler was born at Fingal, Dakota Territory in 1889. He enlisted with the North Dakota National Guard in Bismarck at the age of 28 and was honorable discharged with the rank of sergeant.

His banking career started in Jamestown, North Dakota where he worked in the industry for 20 years before becoming a deputy bank examiner under the Governor Frazier administration. He and his wife had two daughters.