Bremer Bank CEO Jeanne Crain to Step Down After Old National Merger

Jeanne Crain’s departure comes at a pivotal moment for Bremer Bank as it finalizes its merger with Old National Bancorp. The merger, valued at $1.4 billion, follows a tumultuous period marked by legal disputes between Bremer Financial and the Otto Bremer Trust, the charity that owns the bank. The legal battle, which lasted five years, involved disagreements over the bank’s direction and potential sale. Crain played a crucial role in navigating these challenges, ultimately leading to the agreement with Old National.

The acquisition by Old National is expected to create Minnesota’s third-largest bank, with a substantial presence in the region. Crain’s leadership was instrumental in reinforcing Bremer’s brand as a leader in agricultural banking and expanding its market share in eastern Wisconsin. She also guided the bank through the financial and industry challenges posed by the COVID-19 pandemic. Crain’s legacy includes a strong focus on community service, with Bremer Bank actively involved in charitable efforts such as supporting affordable housing and creating college savings accounts for children.

Jeanne Crain is stepping down following the completion of Bremer Bank’s merger with Old National Bancorp.

The merger is valued at $1.4 billion.

The merged entity will become the third-largest bank in Minnesota, with Old National maintaining the majority ownership and the Otto Bremer Trust retaining an 11% stake.

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