After legal wrangling, Otto Bremer Trust closes on sale of bank

After legal wrangling, Otto Bremer Trust closes on sale of bank

Early in my career, I remember hearing that “Bremer will never be sold; it’s owned by a foundation.” I never really understood what that meant, and of course, it turned out to be inaccurate. Old National Bancorp, which claims headquarters in both Evansville, Ind., and Chicago, completed its purchase of St. Paul-based Bremer Financial Corporation in a $1.4 billion deal on May 1. The merger creates a $70 billion bank; the Bremer name will remain u…