Former Bank of ND president elected governor

Northwestern Financial Review, Nov 18, 2000 by Olmsted, Monte

Former Bank of North Dakota president John Hoeven was elected governor of the state on Nov. 7 in a race that turned out to be easier than expected.

The 43-yearold Hoeven, a Republican, defeated Heidi Heitkamp, the state's attorney general, by 10 percentage points and was projected as the winner soon after polls closed. Unofficial results with 99 percent of the precincts reporting had Hoeven with 159,786 votes or 55 percent to Heitkamp's 130,383 votes or 45 percent.

A first time political candidate, Hoeven served as president of the Bismarck-based Bank of North Dakota from 1993 until June. Campaigning for increased economic development, Hoeven stressed his private sector experience and said he wanted to attract more businesses to the state, improve the agricultural outlook and retain North Dakota's young adults.

Hoeven will succeed two-term Republican Gov. Ed Schafer, who declined to seek re-election.

A second generation banker, Hoeven is the son of Jack Hoeven, chairman and president of First Western Bank & Trust in Minot. Hoeven worked at the bank during his high school days and returned in 1981 after graduate school at Northwestern University. He helped develop the Minot bank's trust department and worked there for 12 years before taking the leadership post at Bank of North Dakota.

The campaign and election against Heitkamp included some intriguing developments. First, Hoeven was running against his former boss. Since the Bank of North Dakota is a state-owned institution, its board consists of the state's governor, attorney general -- Heitkamp - and agricultural commissioner. Hoeven had to answer to them.

When Hoeven asked the board for an unpaid leave of absence to devote more time to the campaign, he was denied over concerns of accountability and access to confidential records. Board members Heitkamp and Roger Johnson, the state's agriculture commissioner, both Democrats, believed the request was inappropriate.

Hoeven then resigned in June. Also, less than two months before the election, Heitkamp suspended campaigning after announcing she had cancer. After surgery in late September, she resumed campaigning on Oct. 4.

By Monte Olmsted