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Bremer Financial Corporation reports record dividend in Q1 results

05.16.19
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Bremer Financial Corporation, parent company of Bremer Bank, reported a record dividend in its first quarter results today.

Bremer Financial Corporation declared a dividend of $44.4 million for the first quarter of 2019, comprised of a standard dividend payment of $14.4 million and an additional dividend payment of $30 million. The substantial additional dividend was declared as a result of a strong capital position and follows a recent record dividend of $34.1 million declared in March 2018.

Each year, 92 percent of Bremer’s dividends are paid to the company’s majority owner, the Otto Bremer Trust, and 8 percent of the dividends are paid to the employee shareholders of Bremer Financial Corporation. In 2018, the company distributed $76.4 million in dividends to shareholders, including $70.3 million to the Otto Bremer Trust and $6.1 million to Bremer employees.

The company’s first quarter 2019 results include a return on average equity of 12.42 percent and a return on average assets of 1.15 percent. The company earned a net income of $35.1 million for the first quarter of 2019, compared to $35.2 million for first quarter 2018. The company’s net income includes growth in net interest income and favorable credit performance.

“Our strong first quarter performance is a reflection of success as we commit to making strategic investments that enhance our service and approach to our customers. With a disciplined approach to growing the organization, we are thrilled to pay this record dividend to the Otto Bremer Trust and our employees,” said Jeanne Crain, President of Bremer Bank.

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.