Eric Hardmeyer CPBA Town Hall

Former BND CEO Eric Hardmeyer talks mission, profitability, raising capital, and identifying the problem public banks solve in this recent CPBA town hall

Eric Hardmeyer, former CEO of the Bank of North Dakota (BND), shared his insights from over 20 years at the helm of the nation’s only state public bank as part of a recent town hall presented by the California Public Banking Alliance. He touched on founding principles, the importance of profitability to fund growth, that leverage is the key bank benefit, and that the very strong community banking system in the state is “one of the best things we’ve done.”

Hardmeyer describes the bank’s mission:

“We like to call the Bank of North Dakota the ‘Bank of Good’ for the state of North Dakota. … We are a bank that instead of backing away from a crisis, we run to the crisis because we believe that that is what makes us different from the private sector. … We believe that it is our mission to help the state go forward, and sometimes that means you’ve got to jump into the crisis. You’ve got to be the firefighter going up the ladder, not running away.”

Thanks to CPBA for sponsoring this Town Hall, which also included many elected officials from throughout California!

Watch the clip:

[Watch the whole town hall]

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