Bremer Financial Corporation, parent company of Bremer Bank, reports results for the first quarter of 2022, including quarter-to-date return on average equity of 11.92 percent. Net income for the first quarter of 2022 was $43.2 million, compared to net income of $32.3 million for the fourth quarter of 2021 and $49.2 million for the first quarter of 2021. The company’s overall results reflect continued strength of core operating performance and strong credit quality.
“The economy continues to open up even as our communities see new challenges in a fast-evolving world. Our first quarter results demonstrate Bremer’s resiliency and laser focus on our customers as we continue to find opportunities to grow and improve our competitiveness through exceptional talent and innovative solutions that help our customers realize their goals,” said President and CEO Jeanne Crain.
The company distributed $18.6 million in dividends to shareholders during the first quarter of 2022. This includes $17.1 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 over $1 billion in dividends to all shareholders, including over $940 million to the Otto Bremer Trust.