1944: St. Paul banker Otto Bremer creates Otto Bremer Foundation to own his bank investments after his death, contribute their profits to charities in Minnesota and nearby states.
1951: Otto Bremer dies.
1969: Congress passes Tax Reform Act that overhauls taxation of non-profit entities, dividing them into private foundations and public charities and preventing both from owning for-profit entities.
1989: Bremer Foundation reorganizes and reduces voting control in Bremer Bank to comply with 1969 act, maintains stake as chief shareholder
2014: Now called the Bremer Trust, its trustees take operational control by firing executive director.
April 2019: Bremer Financial receives inquiry from Great Western Bancshares for informal exploration of a merger of equals. Bremer Financial board authorizes further discussions.
June 2019: Trustees of Bremer Trust inform Bremer Financial board they dislike merger-of-equals structure, say outright sale will yield more value for trust. Board votes to end talks with Great Western.
August 2019: Bremer Trust trustees meet executives from two banks, but no offers for Bremer Financial materialize.
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