In 1886, Otto Bremer immigrated from his home in Germany to the United States. He eventually moved to St. Paul, Minn., where through hard work and dedication, he founded Bremer.
From immigrant son to city treasurer
| After only six months in this country, Otto Bremer launched into his banking career, beginning as a bookkeeper. Over the next 13 years, he rose to chief clerk and became a major stockholder in a St. Paul bank. By the turn of the century, Otto Bremer had attained such success and respect in the community that he was elected treasurer for the City of St. Paul. Mr. Bremer served five terms in this position and was nominated as a candidate for mayor of St. Paul in 1912.
A fondness for “countryside” banks
Eventually, Otto Bremer left politics and began investing in community banks, including the American National Bank, where he was elected to its board of directors. By 1921, he was asked to preside as chairman of the bank. But it was his association with what he called his “countryside” banks that he found most satisfying. One of his credos was that “banks should be home banks, independently operated by people of their communities.” |
St. Paul City Hall under construction, ca. 1887
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In the depths of the Depression, a generous spirit
| It was during the Great Depression that Otto Bremer proved his commitment to community banks. Dipping heavily into his own personal holdings, he funded many small local banks and kept them afloat until the panic of the times subsided. It was a community-inspired gesture and a sign of things to come for what was to be the Bremer Foundation.
In 1944, Otto Bremer’s concern for communities in Minnesota, North Dakota, and Wisconsin prompted him to form the Otto Bremer Foundation. Mr. Bremer carefully outlined the issues and concerns he wanted the Foundation to address. One mission was to “relieve poverty in the city of St. Paul.” By establishing the Foundation, Mr. Bremer could secure the future of his banks and return a significant portion of their earnings back to the communities they served.
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Bremer Arcade Building, 7th and Robert St., St. Paul, ca. 1917
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A spirit that endures
Today, the Foundation continues to invest significantly in meaningful causes throughout the region. Bremer employees are still inspired and guided by Mr. Bremer’s community spirit. And like Mr. Bremer, we take special pride in serving our clients well, helping them meet their financial goals through our banking, investment, trust and insurance solutions.
We are grateful to our founder for the example he set.
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