Meads Announces Decision to Leave Bremer Bank
St. Paul, Minn. - September 10, 2010 - Twin Cities Bremer Bank President Steve Meads said today he will leave the company in mid-September to pursue his career goal of helping to lead and grow a young company.
"For the past three years, I've focused exclusively on the goal of making Bremer the number one business bank in the Twin Cities," said Meads. "The challenging economy has made this an all-consuming task, but we have built significant momentum and I feel it's the right time for me to now pursue my personal aspirations."
"Thanks to the commitment, caring and hard work of the more than 300 employees here in the Twin Cities, we've made remarkable progress together. With the worst of the recession behind us, and given the progress we've made in sales, service and revenue growth, now is an opportune time for me to pursue my next career goal," explained Meads.
"Steve had made a major and lasting contribution to the remarkable growth and success of Bremer in his nearly 20 years with the company," said Bremer CEO Pat Donovan. "I know Steve will be missed by myself and his many colleagues at Bremer and we wish him the very best as he embarks on the next stage of his career."
Bremer has a strong management team in place to assume expanded responsibilities after Meads' departure from the company. Senior leadership is currently examining its organizational structure and Kevin Powers, Group President West Region, has been appointed interim president for the Twin Cities. Powers joined the company in 1991, after 12 years in the Twin Cities with FirstBank, and led Bremer's entry into the Fargo marketplace with a de novo branch in 1996 that has since grown into a banking hub with $1.5 billion in assets and more than 200 employees.
Bremer Financial Corporation
Bremer Financial Corporation is a privately-held, $7.6 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 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.