The North Dakota Industrial Commission on Tuesday named Don Morgan as the new president and CEO of the Bank of North Dakota.

Morgan succeeds recently retired Todd Steinwand, who worked for the state-owned bank for eight years and has been its president since July 2021. During the transition period, BND Chief Financial Officer Rob Pfenning took over the interim role.

Members of the Industrial Commission, consisting of the governor, the attorney general and the agriculture commissioner, introduced Morgan at their meeting.

Morgan has more than 23 years of experience in the banking industry, according to a statement from the commission. He most recently served as CEO and president of Starion Bank, a $1.9 billion community bank with more than a dozen branches in North Dakota and Wisconsin. Morgan joined Starion in 2012 and was promoted to the board of directors in 2014.

Originally from Wyoming, Morgan holds a bachelor's degree in finance with a minor in accounting from the University of Wyoming and a master's degree in accounting from the University of Phoenix.

“Don's impressive experience from his decades-long career in banking and his deep understanding of the critical role of BND's local banking partners in supporting farmers, ranchers and businesses in the state make him an exceptionally strong candidate to lead this unique institution,” the commissioners said in a joint statement.