CEO of the Bremer Bank to resign with old national cities after the merger

After more than 12 years as a public face of the Bremer Bank, Jeanne Crain announced that on May 16, from the role of President and Chief Executive Officer, she will withdraw a planned merger with the Old National Bank in St. Paul.

Crain, who has been working in the financial service industry for more than 40 years, came to Bremer in 2012 and became the bank of the bank in November 2016. She supervised the logo and brand refreshment of the company, the renovation work for the Major Branch and the new openings, including targeted growth in East Wisconsin, the rework of a new branch in Eastway and the opening of a new branch in Lake Street in the Lake Street in the Lake Street in the Minnepolis in the moon -Journalzeit and the opening game in the Lake Street in the moon.

The bank, which is classified as the 12th largest agricultural lender in the country, was heavily involved in non-profit efforts, including the support of habitat products for the mortgages of Twin Cities for mortgage products that are geared towards buyers with low to medium-sized incomes, and the cooperation with the office of St. Paul Paul, Melvin Carter’s office, around the To create newborbborborborbors and the small children of the city.

Legal turbulence

Crain can be remembered most if the bank was founded in the 1940s by the German Philanthrop Otto Bremer-in five years of legal turbulence, as bank officials with the three trustees of the Otto Bremer Trust, the resident, resident in St. Paul, which has effectively plunges their heads. From 2019, the unusual but decades-long agreement-a charity organization that has a commercial lender under the legal microscope when the trustees tried to displace the banking committee and position the financial institution for sale by issuing voting rights to 19 East Coast Hedge Fund.

Crain and other banking officers opposed the takeover and forced sale and culminated both on the board and in stock businesses, which were submitted against the trustees of the philanthropy in 2019 before the district court of the Ramsey district.

The trustees counterattacks and individual hedge funds then submitted their own legal steps when stock sales were frozen. The Attorney General of Minnesota, which regulates charity organizations, submitted his own legal steps to remove the three trustees from the defined positions they had inherited from their predecessors.

The six legal cases have turned for years. A judge of the Ramsey Country District Court removed one of the trustees in April 2022 and later retired another, but the judge did not keep the bank sale.

Fusion announced

The bank and philanthropy announced a legal agreement in July 2024 and a friendly takeover of Old National, which is based in Chicago and Evansville, Indiana last November. The sale of $ 1.4 billion on Old National is expected to create the third largest bank in Minnesota with combined assets of more than $ 70 billion. Bremen already maintains 70 branches in Minnesota, North Dakota and Wisconsin. The Otto Bremer Trust will maintain a 11% participation in the newly loathed financial institution.

Crain is a former president and CEO of Marquette Bank and former President of the Minnesota region of BMO Harris Bank. She is a member of the board at the Federal Reserve Bank of Minneapolis and from 2017 to 2018 was the Co-Chairman of the Governor for Apartments.

The Bremen Bank officials rejected the official comment on Thursday, but Crain announced some farewell words when they announced their departure on the Social Media platform LinkedIn.

“When Bremer comes to the Old National Bank, I proudly do this on what we have built up and the full trust in what is ahead of us,” she wrote. “This partnership is based on common values ​​and a deep commitment to the community, and I firmly believe that you will strengthen the support and service you expected from Bremen. It was an honor to act as CEO and work with so many of you to build a stronger, lively future. Thank you for your trust, your cooperation and part of this trip.”

Bank clearance is expected to be completed on May 1st.