A Bremer Bank representative confirmed Sunday that the current Minnesota Attorney General case against the Otto Bremer Trust (OBT) should not affect local bank operations and that the bank is not for sale.

Claire Tushie, the vice president of communications for Bremer Bank, said Sunday that the “short” answer is simple.

“Bremer is not for sale, and the attorney general office’s action against the Otto Bremer Trust trustees does not impact local banks,” Tushie said.

She went on to explain that, in 2019, the OBT trustees sold a portion of non-controlling shares to out-of-state hedge funds – which in turn tried to convert those shares into controlling shares.

Tushie added that the Bremer Financial Corporation does not recognize the validity of that sale, and there is pending litigation that will be on hold until the OBT case is settled.

“I want to emphasize that the Otto Bremer Trust is a separate entity from Bremer Bank and that Bremer Bank is not represented in the AGO’s action against the trustees,” Tushie said.

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