Bremer completes acquisition of Dean Financial's four banks

Northwestern Financial Review, Sep 4, 1999

Bremer Financial Corp., St. Paul, has completed the purchase of Dean Financial Services Inc., of St. Paul and its four charter banks in Minnesota: Princeton Bank, First State Bank of Eden Prairie, First National Bank of Aitkin, and State Bank of Edgerton. The addition of Dean Financial's $300 million in assets and 11 locations increases Bremer's assets to more than $3.7 billion and its locations to nearly 100 throughout Minnesota, North Dakota and Wisconsin.

Growth through acquisition continues to be an important part of Bremer's overall expansion strategy with Dean Financial representing the fifth Bremer acquisition since 1993. "The addition of Dean Financial is further evidence of Bremer's commitment to local, community banking," said Stan K. Dardis, Bremer Financial president and CEO. "We are confident that customers and communities of Dean Financial will welcome Bremer's unique approach to financial services."

Bremer is owned by its employees and the Otto Bremer Foundation, a charitable trust.