Page 40 - July 18, 2024 Bulletin

Wisconsin. Morgan joined Starion in 2012 and in 2014 became a
BaNK “We are excited to welcome Don to the Industrial Commission and
member of Starion’s Executive Committee.

the Bank of North Dakota”, the Commission members said in a
joint statement. “Don’s impressive experience over his decades long
career in the banking industry and his deep understanding of the
HAPPENINGS critical role BND’s community bank partners play in supporting
farmers, ranchers and businesses in the state make him exceptionally
Aberdeen well-positioned to lead this unique institution.”

As part of its commitment to community support and sustainability, A Wyoming native, Morgan earned a bachelor’s degree in finance
Dacotah Bank has recently undertaken an initiative to donate with an accounting minor from University of Wyoming and a
computer equipment generated from its recent equipment upgrade master’s in accounting from the University of Phoenix.
process. The initiative has resulted in the donation of 85 computer Bismarck
desktops and 11 laptops to various worthy causes.
Bank of North Dakota has promoted Karen
Three desktops and a laptop were donated to the New Underwood Schaeffer to recoveries specialist. Karen has
area Rockside Ranch branch, a place where young individuals in been with BND since February of 2005.
crisis can work on a ranch to sort out their lives. The ranch provides
instruction in subjects like financial literacy, addiction recovery, Bismarck
work ethics, and family issues. More information can be found at
https://rocksideranch.org/. The Industrial Commission approved the
Rural-Workforce Initiative to Support
Over a dozen desktops were donated to The Circle, an organization Housing pilot program at its June 26, 2024,
that assists youth in crisis by placing them in homes and providing meeting. The R-WISH pilot will support rural Karen Schaeffer
them with training and assistance to overcome various challenges. communities of 20,000 residents or less with construction of market
The desktops will be utilized for online training classes to help the rate housing for workforce when a company is locating or expanding
youth reach their goals. Learn more about The Circle at https:// its operations. The program will utilize up to $10 million of Bank of
familyconnectionscenters.com/. North Dakota capital to complement the work being done by the
Love Inc, an organization working with churches and individuals North Dakota Housing Finance Agency and the North Dakota
in need, received six desktops to upgrade staff equipment. This Housing Initiative Advisory Committee.
contribution supports their mission to meet a variety of community To qualify, the community must be experiencing a period of rapid
needs. Further details can be found at https://loveinconline.com/.
growth due to a new company locating in the community or a
local company expanding by more than 10 full-time equivalent
employees. Funds may be used for new multi-family and 1-4 family
housing projects or the rehabilitation of existing multi-family and
1-4 family housing if it is more cost-effective than new construction.
The program enables projects hampered by disproportionate costs in
comparison to attainable market rents to move forward. The project
must show evidence of supporting local financial institution market
Bismarck rate financing with market rental rates. BND must be a participant
in the local financial institution financing. The community and
The North Dakota Industrial Commission expanding company are expected to offer either funding or in-
has named Don Morgan as the next President kind support to qualify. The maximum amount from the R-WISH
and CEO of the Bank of North Dakota at fund is the lesser of 20% of the project costs, $3.5 million, or the
its meeting on July 2. Morgan succeeds Todd matching contribution from the company. The community must
Steinwand who retired effective July 2, after support the project through one or more of the following:
serving in the position since July of 2021.
• A local development corporation providing direct funding
Morgan, a certified public accountant, has • In-kind contributions such as land, property, or
worked in the banking industry for over Don Morgan infrastructure
23 years and most recently served as chief • Future dedicated tax programs
executive officer and bank president for Starion Bank, a $1.9 • Community share of the interest buydown
billion community bank with 16 locations in North Dakota and

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