Page 46 - June 20, 2024 Bulletin

Standard & Poor’s (S&P) affirmed the Bank’s credit rating as A+/
BaNK This year, the Bank originated and renewed 10,734 loans for more
Stable in its annual review released toward the end of 2023.

than $2.5 billion, bringing the amount of the total lending portfolio
to $5.8 billion, a new record for BND. The total portfolio increased
by $394 million from last year. BND delivers both agriculture and
HAPPENINGS commercial loans through 72 different financial institutions and
their 218 branch offices. Included in these loan numbers are the
Adams ranchers who were assisted through the Livestock Rebuilders Loan.
The program helped replenish approximately 16,000 head of cattle
First United Bank is pleased to announce the lost in the state due to the 2021 drought.
promotion of Amber Skorheim to the position In addition to these portfolios, BND administers more than $1 billion
of loan officer. Skorheim will be stepping into in legislative-directed loan programs, including school construction,
the role previously held by John Clapp who state infrastructure, water projects and disaster recovery.
is retiring at the end of June after 49 years of
dedicated service. Skorheim has been with First Complete copies of the 2023 Annual Report are available at www.
United Bank since 2019. She is a 2023 graduate bnd.nd.gov.
of the Dakota School of Banking and also
holds a Bachelor of Business Administration Amber Skorheim Devils Lake
from Mayville State University.
First United Bank is pleased to announce the
Bismarck promotion of Susan Harder to the position
of risk management officer. Harder has been
Zach Johnson joined the Bank of North with First United Bank since 2019 and has over
Dakota team as treasury associate. He 25 years of banking experience. She is also a
graduated from UND with a degree in business certified bank secrecy officer. Susan Harder
administration and is currently attending
University of Mary and will graduate in Fargo
December 2024 with an MBA.
Preston Braathen joined the Bank of North
Bank of North Dakota recently promoted Dakota team as business banker. He graduated
Nicole Koons to credit underwriter IV. Nicole Zach Johnson from University of North Dakota with a degree
has been with BND since in business administration.
August 2021.
Kaylen Hausauer Grand Forks & Rochester, MN Preston Braathen
accepted the financial Alerus Financial Corporation and HMN Financial, Inc. jointly
institutions market announced that Alerus will acquire, in an all-stock merger, HMNF,
manager position in the a savings and loan holding company headquartered in Rochester,
lending service area at Minnesota, and the parent company of Home Federal Savings Bank.
Bank of North Dakota. Under the terms of the Merger Agreement, HMNF will merge
Kaylen has been with Nicole Koons Kaylen Hausauer with and into Alerus and Home Federal will merge with and into
BND since May 2012. Alerus’ wholly-owned bank subsidiary, Alerus Financial, National
Association, in a transaction valued at approximately $116.4 million.
Bismarck The transaction is expected to close in the fourth quarter of 2024.

Bank of North Dakota (BND) reported total assets of $10.1 billion
at year-end 2023, consistent with the previous year. With record Williston
profits of $192.7 million, an increase of $1.5 million from 2022, the American State Bank & Trust Company
Bank also had an excellent return on investment of 18.2%. BND’s recently announced the addition of Shiloh
profits are utilized to support loan participations with partner Wilburn to the bank’s trust department
financial institutions and to support disaster recovery programs. as trust operations officer. Wilburn has 10
Profits may also be used to support legislatively directed loan years of banking experience. She is currently
programs and capital transfers to the general fund as needed. Excess pursuing an accounting degree from Western
earnings are retained and accumulated to fund capital. Governor’s University.
Shiloh Wilburn

46