Bremer Bank Announces Expansion Plans; New Branches to Open in Bismarck and Mankato
St. Paul, Minn. - August 6, 2010 - Bremer Bank, a privately-held, $7.6 billion regional financial services company jointly owned by its employees and the Otto Bremer Foundation, has announced its intention to open new banks in Bismarck, N.D. and Mankato, Minn., in 2011.
“Bremer selected Bismarck and Mankato because they are robust, growth communities that serve as regional hubs,” explained CEO Pat Donovan. “Both of these communities have a lot in common with other markets where Bremer has successfully met the needs of clients and the region, and we are extremely excited about the possibilities for expanding our market presence.”
The company has purchased land in Mankato to construct a new bank, which is expected to open in early summer 2011. In Bismarck, plans are to purchase and renovate an existing building to house the new branch, which is expected to be open in March of 2011. Both banks will offer a full-range of retail, ag and business banking, mortgage, investments and insurance products and services. Combined, the two locations will employ nearly 40 staff.
“This expansion reflects Bremer’s on-going strength and profitability,” explained Donovan. “We’re a unique organization -- jointly owned by our employees and the Otto Bremer Foundation. When clients bank with Bremer, we are able to funnel our profits back to the community through charitable grants provided by the Foundation. Our vision at Bremer is to build healthy communities through partnerships. We believe our new branches will strengthen the partnerships we already have in North Dakota and Greater Minnesota and represent our long-term commitment to this region.”
Bremer Financial Corporation
Bremer Financial Corporation is a privately-held, $7.6 billion regional financial services company jointly 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 locations in Minnesota, North Dakota and Wisconsin. OBF uses its share of dividends to distribute charitable grants to Bremer Bank communities. In 2009, more than $25 million in charitable donations were given across the Bremer footprint and employees donated more than 160,000 volunteer hours to their communities. For more information, go to bremer.com.