Bremer Financial Corporation, parent company of Bremer Bank, reports results for 2020, including return on average equity of 11.44 percent. The company earned net income of $155 million for 2020, compared to $156 million for 2019. The company’s net income result reflects strong core operating performance through 2020’s challenging environment.
“Bremer’s success was driven by a firm understanding of what we needed to do based on the tumultuous environment of 2020. Our results demonstrate solid financial performance across the company, a testament to how we are positioned for long-term success,” said President and CEO Jeanne Crain. “We also had an unexpected opportunity to learn more about our customers and their preferences, and as we move forward in 2021, we will continue to focus on executing our strategic priorities and advancing the development of innovative solutions to better serve our customers and communities.”
The company distributed $79.8 million in dividends to shareholders during 2020. This includes $73.4 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 over $920 million in dividends to all shareholders, including over $850 million paid to the Otto Bremer Trust.
About Bremer Financial Corporation
Bremer Financial Corporation is a privately held, $15.8 billion regional financial services company jointly owned by the Otto Bremer Trustand 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.