Submitted Photo Stephen Stenehjem, left, chief executive officer at First International Bank & Trust, will be transitioning the bank’s leadership to his son, Peter Stenehjem, right, on Jan. 1.

WATFORD CITY – First International Bank & Trust (FIBT), a full-service, independent

community bank, announced Thursday a leadership transition and significant milestone in its 115-year history. Effective Jan. 1, S. Peter Stenehjem will succeed his father, Stephen Stenehjem, as chief executive officer, becoming the fourth generation of the Stenehjem family to lead the institution.

Steve Stenehjem, who has served as CEO for 34 years, will continue as chairman of the board, remaining actively involved in guiding the bank’s leaders and supporting strategic initiatives.

Reflecting on this transition, Steve Stenehjem shared in a news release, “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. For 114 years, our family has been deeply committed to serving our customers and communities with integrity and care. I am confident Peter’s vision, dedication and philanthropic spirit will ensure that legacy continues well into the future.”

Peter Stenehjem has spent his career at FIBT, learning from industry leaders and taking on various roles across the organization, including his current tenure as the bank’s president. His efforts have significantly contributed to the bank’s growth and success, earning him the respect of colleagues, customers and community members alike, according to the bank’s announcement.

“First International Bank & Trust brings an unwavering dedication to its clients and communities,” Peter Stenehjem said. “It is a great honor to step into a role that’s been shaped by over a century of commitment, resilience and community focus. I am committed to upholding this legacy, with deep respect for FIBT’s history and focus on continued success in the years to come.”

Over the last 34 years under Steve Stenehjem’s leadership, FIBT has seen total assets

grow from just under $49 million to more than $5 billion. From its humble beginnings in Arnegard, FIBT now has locations across North Dakota, South Dakota, Minnesota and Arizona, and serves more customers than ever before.

“As we enter this new era, I look forward to working with our talented team to maintain the high

standards of excellence, innovation and client care that have defined our success,” Peter Stenehjem added. “Alongside my siblings Erik, Kira and Kristen, I am proud to carry forward the traditions and values instilled by the three previous generations. Together, our family will ensure First International Bank & Trust thrives for the next 115 years and beyond.”