The Bank of North Dakota approved $772,000 in performance-based bonuses for 167 employees under its SMART Plan, linking payouts to collective performance and retention.

The Bank of North Dakota has approved $772,000 in performance-based bonuses for 167 employees under its SMART Plan, with one-third paid out now and the rest tied to future performance and retention. The program, which rewards all staff equally regardless of role, links payouts to credit quality, risk management, financial results, and mission alignment. The North Dakota Industrial Commission unanimously approved the plan, with Governor Kelly Armstrong praising its role in helping the state-owned bank compete with private-sector pay without raising base salaries. Unlike individual bonuses awarded by the State Investment Board, the SMART Plan emphasizes collective achievement and long-term retention, with annual reviews and final approval pending from the Industrial Commission.