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Bremer Financial Corporation reports third quarter 2018 results

11.01.18
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Bremer Financial Corporation, parent company of Bremer Bank, reports results for the third quarter of 2018, including return on average equity of 13.61% and return on average assets of 1.26%. The Company earned net income of $38.3 million for the third quarter of 2018, compared to $33.6 million for the third quarter of 2017 and $38.2 million for the second quarter of 2018. The company’s net income growth reflects increases in net interest income, favorable credit performance, and improvement in the provision for income taxes.

“Our results this quarter reflect continued strong performance across our business,” said President & CEO Jeanne Crain. “During the third quarter we also advanced our digital capabilities with the creation of a new chief strategy officer role and announced a partnership that will enable us to launch an automated lending platform to enhance the business and agricultural lending experience for our customers.”

The Company distributed $14.1 million in dividends to shareholders during the third quarter 2018, which includes $13.0 million to the Company’s majority owner the Otto Bremer Trust, a charitable trust, and $1.1 million to Bremer employees.

Each year 92% of Bremer’s dividends are provided to the Otto Bremer Trust, while 8% are provided to Bremer employees. Since 2010, Bremer has distributed $406.3 million in dividends to all shareholders, including $374.9 million provided to the Otto Bremer Trust.

About Bremer Financial Corporation

Bremer Financial Corporation is a privately held, $12 billion regional financial services company jointly owned by the Otto Bremer Trust and Bremer employees. Founded in 1943 by Otto Bremer, the company is headquartered in St. Paul, Minnesota and provides a comprehensive range of banking, mortgage, investment, wealth management, trust and insurance products and services throughout Minnesota, North Dakota and Wisconsin. Clients include small businesses, mid-sized corporations, agribusinesses, nonprofits, public and government entities, and individuals and families.

About Bremer Bank

Bremer Bank has roots in the places where we live and work that go back to 1943, and a history of making a real-world difference in the lives of our customers that begins with our founder. Otto Bremer believed that if banks helped businesses in good times and bad, communities would thrive. Today, we’re proud to work with the people who grow our food, build our economy, and serve our neighbors. We offer banking, mortgage, investment, wealth management, trust and insurance in Minnesota, North Dakota and Wisconsin. We’re here to help you solve your toughest problems, seize your biggest opportunities, and achieve success on your terms, now and in the future.)

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