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Bremer Financial Corporation reports third quarter 2021 results

10.20.21
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Bremer Financial Corporation, parent company of Bremer Bank, reports results for the third quarter of 2021, including quarter-to-date return on average equity of 13.00 percent and return on average assets of 1.17 percent. Net income for the third quarter was $47.8 million, compared to net income of $43.4 million for the third quarter of 2020. Year-to-date net income for the nine months ended September 30, 2021, was $150.1 million, compared to year-to-date net income of $120.5 million for the nine months ended September 30, 2020. The company’s results compared to prior periods reflect strong operational performance, stabilizing and improving credit quality, and continued support of customer participation in the Paycheck Protection Program.

“Bremer’s results demonstrate our steadfast commitment to our customers, and the strength and resiliency of our teams. We continue to look forward to new opportunities to grow our core business and serve all of our stakeholders,” said President and CEO Jeanne Crain.

The company distributed $17.5 million in dividends to shareholders during the third quarter of 2021. This includes $16.1 million to the Otto Bremer Trust. Total year-to-date dividends distributed for the nine months ended September 30, 2021, were $52.6 million, including $48.4 million to the Otto Bremer Trust.

Each year, 92 percent of Bremer’s dividends are provided to the Otto Bremer Trust, while 8 percent are provided to Bremer employees. Since 1989, Bremer has distributed approximately $986 million in dividends to all shareholders, including approximately $908 million to the Otto Bremer Trust.

About Bremer Financial Corporation

Bremer Financial Corporation is a privately held, regional financial services company with $16.2 billion in assets, 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, 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.