Hellmuth & Johnson Partner, Blake Nelson, shared insights with Finance & Commerce following Bremer Bank’s announcement that they are looking for a buyer. In the article, “Bremer could draw large suitors,” Nelson stated that such a sale could find a number of interested buyers. Bremer could follow in the footsteps of Anchor Bank and KleinBank, both Twin Cities institutions that have been acquired in the past 18 months by Evansville, Indiana-based Old National Bank.
“Most of the recent bank acquisitions have been by banking companies from out of state looking to enter the Minnesota market,” said Nelson, who also served for several years on the board of Minnesota Bank & Trust prior to its merger with Minnetonka-based Signature Bank. “Clearly, I think out-of-state suitors will likely now have their eyes on Bremer.”