Bremer Financial Corp., Minnesota’s fourth-largest bank by deposits, is for sale, according to people familiar with the matter.
Financial advisers have been retained to find a buyer for the Saint Paul-based lender, said the people, who asked to not be identified because the matter isn’t public. While it’s not clear how much it would fetch in a sale, the bank had about $1.35 billion of equity capital as of June 30, according to regulatory filings. Healthy banks tend to change hands at the value of their equity or more.
