Bremer Bank to Serve Owatonna Market
Owatonna Leadership Announced; David Marcoux to Lead New Bank
St. Paul, Minn. – November 17, 2011 - Bremer Bank, a privately-held, $8 billion regional financial services company jointly-owned by its employees and the Otto Bremer Foundation, has announced its intention to open a new bank in Owatonna, Minn., in 2012.
“Bremer selected Owatonna because it is a robust, growth community that further extends our regional presence in Southeast Minnesota,” explained Greg Hilding, Group President and the leader of Bremer’s expansion efforts. “In addition to population growth that exceeds the statewide average, Owatonna closely matches the profile of other communities in which Bremer has successfully met the needs of clients and the region.”
David Marcoux has been selected to lead Bremer’s new Owatonna location. “We are extremely fortunate to have David joining us in this leadership role,” said Brad Peters, Market President, Bremer Bank-Mankato. “He’s a native of Southern Minnesota and has more than 23 years in financial services, most recently as regional private banking manager for a large national bank. David is committed to the long-term health of this community.”
“I am excited about this new opportunity,” said Marcoux. “As I’ve gotten to know the Bremer organization, I’ve come to learn how committed this bank is to building healthy communities through partnerships – this is a good addition for Owatonna.” Bremer expects to staff the new location with a mix of talent – tapping existing Bremer staff eager to grow the Bremer culture in a new market, and combining it with the knowledge and experience of local talent.
The new branch will be located at the northwest intersection of Bridge Street and Florence Avenue, just east of Interstate 35 . The bank has signed a purchase agreement for the land and is working through final details on the project. A groundbreaking ceremony will be scheduled for 2012. When completed, the new bank will offer over 4,500 square feet and will include multiple drive-up lanes and a drive-up ATM. The new bank will employ up to 16 people and offer a full-range of retail, ag and business banking, mortgage, investments and insurance products and services. The branch is expected to be open for business early fall 2012.
Bremer recently opened new banks in Bismarck, N.D. and Mankato, MN. “These expansions reflect Bremer’s on-going strength and profitability,” explained Hilding. “We are jointly-owned by our employees and the Otto Bremer Foundation. When clients bank with Bremer, we are able to funnel our profits back to communities through charitable grants provided by the Foundation. Our vision at Bremer is to build healthy communities through partnerships. We believe our new Owatonna bank will strengthen the partnerships we have in southern Minnesota and make a real difference in the on-going health of this region.”
Bremer Financial Corporation
Bremer Financial Corporation is a privately-held, $8 billion regional financial services company owned by its employees and the Otto Bremer Foundation (OBF). Founded in 1943 by Otto Bremer, the company is headquartered in St. Paul, Minnesota and provides a comprehensive range of banking, investment, trust and insurance services to its nearly 100 locations in Minnesota, North Dakota and Wisconsin. OBF uses its share of dividends to distribute charitable grants to Bremer Bank communities. For more information, go to bremer.com.