Bremer Financial Corporation, parent company of Bremer Bank, reports results for the second quarter of 2022, including a quarter-to-date return on average equity of 14.44 percent. Net income for the second quarter of 2022 was $50.7 million, compared to net income of $43.2 million for the first quarter of 2022 and $53.1 million for the second quarter of 2021. The company’s overall results reflect continued strength of core operating performance and strong credit quality, as well as the impact of the rising interest rate environment.
“Our strong financial results demonstrate Bremer’s ongoing ability to add value to the wide-ranging relationships we have with our customers. While uncertainty exists as the economic environment evolves, Bremer continues to operate from a position of strength, with strong capital, ample liquidity, and community impact,” said President and CEO Jeanne Crain.
The company distributed $18.6 million in dividends to shareholders during the second quarter of 2022. This includes $17.1 million to the Otto Bremer Trust. Year-to-date dividends through June 30, 2022, to shareholders totaled $37.2 million, including $34.2 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 $957 million to the Otto Bremer Trust.