Otto Bremer Trust

Otto Bremer Trust

Otto Bremer established the trust in 1944 after building holdings in banking and the Jacob Schmidt Brewing Company. The entity remains governed by trustees who also serve as co-CEOs. Its mandate centers on improving quality of life in four Upper Midwest states through sustained capital allocation. The trust deploys capital across private equity, venture, and natural resources strategies. It holds controlling interests in Bremer Financial Corporation and Community Benefit Financial Company while maintaining public equity positions in Old National Bancorp and Bridgewater Bancshares. Grant activity covers education, health, and community development. Geographic reach stays limited to Minnesota, Montana, North Dakota, and Wisconsin. Confirmed holdings include the headquarters property at 30 East 7th Street and a promissory note tied to University of Minnesota real estate. Seventeen professionals operate from the St. Paul headquarters. The trust participates in the Minnesota Council on Foundations and the Council on Foundations. It retains Keefe, Bruyette & Woods as financial advisor and Sullivan & Cromwell as legal counsel for the 2024-2025 Bremer Financial transaction. November 2024: Attended the Old National Bancorp merger webcast covering the acquisition of Bremer Financial Corporation. The trust's architecture links a legacy operating-company stake to ongoing grant distribution. Ownership of Bremer Financial Corporation until its 2025 sale created a direct pipeline from banking returns to regional philanthropy without external fund commitments.