Return to Insights

Bremer Financial Corporation reports third quarter 2022 results


Bremer Financial Corporation, parent company of Bremer Bank, reports results for the third quarter of 2022, including a quarter-to-date return on average equity of 15.84 percent. Net income for the third quarter of 2022 was $56.9 million, compared to net income of $50.7 million for the second quarter of 2022 and $47.8 million for the third 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.

“With these solid financial results and a strong position in the marketplace, Bremer continues to demonstrate a unique ability to offer value-added relationships to our customers and our communities, even while an uncertain economic environment evolves,” said President and CEO Jeanne Crain.

The company distributed $18.6 million in dividends to shareholders during the third quarter of 2022. This includes $17.1 million to the Otto Bremer Trust. Year-to-date dividends through September 30, 2022, to shareholders totaled $55.8 million, including $51.3 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 $974 million to the Otto Bremer Trust.

About Bremer Financial Corporation

Bremer Financial Corporation is a privately held, regional financial services company with $16 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.