Fourth generation banker to lead First International Bank in N.D.
First International Bank & Trust in Watford City, N.D., will have a new CEO with a familiar last name.
The $5 billion-asset bank said in a press release that S. Peter Stenehjem will become CEO on Jan. 1, succeeding his father, Stephen Stenhjem. He will represent the fourth generation of the family to run the bank.
The elder Stenehjem, who has been CEO for 34 years, will remain chairman.
“It is rare to see a business not only operate for more than a century but also remain owned and managed by the same family,” the elder Stenehjem said in the release. “For 114 years, our family has been deeply committed to serving our customers and communities with integrity and care.”