Bremer Bank Is Now Old National Bank: What You Need To Know

It's been a familiar brand here in the Land of 10,000 Lakes for over 80 years, but thanks to a recent business deal closing, this name will soon be disappearing from Minnesota.

It's not every day that a business that has been around since the 1940s suddenly announces it's closing up shop and moving on. Certainly, businesses closing or going out of business is something the Bold North has been a little too familiar with lately. CBS News reported that almost 3,200 brick-and-mortar stores permanently closed in 2024, a 24 percent increase from 2023.

This case is a bit different, however, as the familiar business and brand we're talking about isn't closing-- another business is acquiring it, but the name we've all known for years here in the North Star State will likely soon be as extinct as a dinosaur.

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That's what's happening to Bremer Bank. That familiar financial institution was founded in St. Paul by Otto Bremer, a German immigrant who came to Minnesota in 1886. After working in the banking industry for over 36 years, he founded Bremer Bank in 1943.

A Bremer Bank location in Rochester, Minnesota (Google Street View)

Banking Dive notes that Bremer Bank is a major farm lender that has $16.2 billion in assets, $11.5 billion in loans, and $13.2 billion in deposits. It currently has over 70 branches in Minnesota, Wisconsin, and North Dakota.

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So why is it going away? It's because Bremer Bank agreed last year to be acquired by Old National Bank, an Evansville, Indiana-based bank. That deal, worth $1.4 billion, is now done. GlobalNewswire reported that as of May 1st, Old National had officially completed the closing of that deal.

Old National Bank currently has 31 locations in Minnesota and first entered the Gopher State when it bought St. Paul-based Anchor Bank back in 2017, Banking Dive said. The new company has approximately $70 billion of assets and $37 billion in assets, making it among the top 25 banking companies headquartered in the U.S., GlobalNewswire said.

An Old National Bank location in Eagan, Minnesota (Google Street View)

And, the story went on to say that, yes, the Bremer Bank name and brand *will* be leaving the Land of 10,000 Lakes in a few months. GlobalNewswire said that while Bremer Bank will initially operate as a division of Old National Bank, the name change will happen when 'full integration of their systems' is completed, which is expected around mid-October of this year.

Businesses closing their doors and changing their names has always been a thing, even if there have been more of them recently. Keep scrolling to see some once-popular brands that have closed their doors for good and are no longer around.