Bremer ousts 2 trustees from corporate board
The decision to remove Otto Bremer Trust trustees Brian Lipschultz and Daniel Reardon follows months of legal fighting over the fate of the Bremer Financial Corp. and its major asset, St. Paul-based Bremer Bank, a $13 billion financial institution and one of Minnesota’s largest farm lenders.
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Frederick Melo / St. Paul Pioneer Press | 6:54 pm, Apr. 29, 2021 ×
ST. PAUL Shareholders with the Bremer Financial Corp. voted Thursday, April 29, to oust two members of their parent company, the Otto Bremer Trust, one of the state’s oldest philanthropies, from the corporation’s board of directors. The two members were not replaced.
Bremer ousts 2 trustees from corporate board
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Bremer ousts 2 trustees from corporate board
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Bremer ousts two trustees from corporate board, but both remain in charge of philanthropy Frederick Melo © Provided by Twin Cities Pioneer Press The downtown St. Paul Bremer Bank branch is seen in an undated courtesy photo, circa September 2020. (Courtesty of Bremer Bank)
Shareholders with the Bremer Financial Corporation voted Thursday to oust two members of their parent company, the Otto Bremer Trust, one of the state’s oldest philanthropies, from the corporation’s board of directors. The two members were not replaced.
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Instead, the size of what had been a nine-member board was limited to no more than seven members and no fewer than five.