
ST. PAUL — St. Paul-based Bremer Bank is being acquired by Old National Bank, which has headquarters in Evansville, Indiana, in a transaction valued at $1.4 billion in cash and stock. The deal, which still requires regulatory approval and approval by Bremer shareholders, would combine Bremer’s $16.2 billion in assets with Old National’s nearly $54 billion to create a bank with more than $70 billion in total assets. ADVERTISEMENT “This partnership represents an outstanding fit between two highly compatible, relationship- and community-focused banks,” Old National Chairman and CEO Jim Ryan said in a joint announcement released Monday, Nov. 25. Ryan said what has made Bremer Bank a leading institution since 1943 aligns closely with the “strategic priorities and cultural principles that have guided Old National’s success for 190 years: a strong deposit franchise, a diversified loan portfolio accentuated by exceptional credit quality, and a passion for investing in and strengthening communities.” “For more than 80 years, we’ve been honored to carry out the legacy of our founder, Otto Bremer,” said Jeanne Crain, president and CEO of Bremer. “When our majority shareholder, the Otto Bremer Trust, reaffirmed its interest in selling Bremer Bank, we appreciated the opportunity to identify a partner through a collaborative process to ensure the best possible outcome for our customers, employees, and our communities. With Old National, we have confidence we found a great fit,” Crain said as part of the joint announcement. The Otto Bremer Trust, a majority owner of Bremer Bank, is a private charitable trust based in St. Paul. Since the trust’s inception in 1944, it has made more than $1.1 billion in grants and program-related investments to more than 4,200 organizations. Once the merger is complete, the trust will have an approximate 11% ownership stake in Old National Bank and a trustee of the Otto Bremer Trust will join the Old National board of directors. ADVERTISEMENT The Otto Bremer Trust stated as part of the joint announcement: “All of us at the Otto Bremer Trust are excited that the Bremer Bank legacy of investing in people, places and opportunities continues with one of the most community-minded banks in the nation. This partnership expands the scope of what can be accomplished for and within our communities — civically, socially and economically.” Once the deal is finalized, Old National will become the third-largest bank in the Twin Cities, and the partnership will expand Old National’s reach into several other markets throughout Minnesota, North Dakota and Wisconsin. The deal affects 48 Bremer Bank branches in Minnesota and 14 in North Dakota, including six locations in Grand Forks and seven in the Fargo region.
NoneInternational standard-setting body Investors in People (IiP) has recognized the Securities and Exchange Commission (SEC) as one of the world’s best employers. The Overseas Employer of the Year Award was received by the SEC during a ceremony held in London, in the United Kingdom. This recognition reflects the commitment of the SEC to the growth and wellbeing of its employees through capacity-building programs, effective employee communication, and advancements in human resource management practices. Other organizations nominated in the same category were Cyprus Costas Papaellinas Organization-Cyprus Pharmaceutical Organization Ltd. and the Philippines Rua Seguridad Corp. The IiP Awards recognize global enterprises and small businesses alike for their commitment to improving workplace wellbeing, promoting growth and nurturing an environment for employees to thrive. It also recognizes best practices in specific categories such as best apprenticeship program, best culture, best use of technology, diversity and inclusion, and leadership and management, among others. “We are honored to be named the Overseas Employer of the Year in the IiP Awards 2024, as this recognition serves as another testament to the steadfast commitment of the commission in upholding the highest standards in ensuring the welfare of our employees,” SEC Chairman Emilio B. Aquino said. “Under our SuperVision 2028, our goal as a regulator is to transform the Philippine corporate sector and capital market into one of the best in Southeast Asia. However, we cannot achieve this without investing in our most valuable asset—our people—to make sure that they have the right skills and mindset, and a positive and nurturing environment where they can thrive and best provide our stakeholders with top-notch services.” In February, the SEC secured accreditation from the London-based IiP after demonstrating high-standard practices in promoting employees’ welfare. The agency is the first in the government financial sector and the third national government agency to receive the IiP accreditation for people management. In September, IiP Philippines conferred to the SEC the People Investor of the Year – Special Citation Award for fostering a supporting and rewarding work environment for its employees. A journalism graduate and has covered the Philippine business beat for more than a decade.TMSL: Multi-Factor ETF Off To A Good Start
Judge rejects request to sideline a San Jose State volleyball player on grounds she’s transgenderJudge rejects request to sideline a San Jose State volleyball player on grounds she’s transgender
Monday Night Football tonight: New Bet365 bonus code “SYRACUSE” unlocks upgraded $150 betting bonusTweet Facebook Mail A US judge will decide today whether new evidence warrants a re-examination of the convictions of Erik and Lyle Menendez in the shotgun murders of their parents in their Beverly Hills home more than 30 years ago. The brothers were found guilty of murdering Jose and Kitty Menendez in 1989 and sentenced to life in prison without parole. While their defence attorneys argued at trial that they had been sexually abused by their father, prosecutors denied that and accused them of killing their parents for money. In the years that followed, they repeatedly appealed their convictions without success. READ MORE: Tourist yacht sinks in high waves, 17 people missing Erik Menendez, left, and Lyle Menendez. (AP) Now, at 53 and 56, Erik and Lyle Menendez are making a new bid for freedom. Their lawyers filed a habeas corpus petition — a request for a court to examine whether someone is being lawfully detained — in May 2023, asking a judge to consider new evidence of their father's sexual abuse. "Newly discovered evidence directly supports the defense presented at trial," the petition said. The recent releases of the Netflix drama Monsters: Lyle and Erik Menendez Story and the documentary The Menendez Brothers in 2024 brought renewed public attention to their plight. Members of the public will be given the opportunity to win a seat in the courtroom to catch a glimpse of the brothers, who will be appearing virtually. READ MORE: Million-selling novelist Barbara Taylor Bradford dies at 91 Lyle, left, and Erik Menendez with defence attorney Leslie Abramson, right, in court in 1990. (AP) Prosecutors recommended resentencing for the brothers last month, saying they have worked on redemption and rehabilitation and demonstrated good behaviour inside prison. Los Angeles District Attorney George Gascón held a news conference less than two weeks before Election Day, asking for new sentences of 50 years to life. This could make them immediately eligible for parole because they were less than 26 years old when they killed their parents. The brothers' extended family has pleaded for their release, saying they deserve to be free after decades behind bars. READ MORE: DNA confirms man who had passed polygraph test as suspected killer in cold case New evidence could see the brothers set free. (AP) Several family members have said that in today's world — which is more aware of the impact of sexual abuse — the brothers would not have been convicted of first-degree murder and sentenced to life. Not all Menendez family members support resentencing. Attorneys for Milton Andersen, the 90-year-old brother of Kitty Menendez, filed a legal brief asking the court to keep the brothers' original punishment. "They shot their mother, Kitty, reloading to ensure her death," Andersen's attorneys said in a statement last week. "The evidence remains overwhelmingly clear: the jury's verdict was just, and the punishment fits the heinous crime." Superior Court Judge Michael Jesic is scheduled to consider the resentencing request on December 11, but on Monday, he'll first address the abuse evidence raised in the habeas petition. Immediate freedom is one possible result; the judge also might weigh in on the merits of the evidence. And if the brothers don't get relief in court, they can hope California's governor will grant them clemency. The new evidence includes a letter Erik Menendez wrote in 1988 to his uncle Andy Cano, describing the sexual abuse he had endured from his father. The brothers asked their lawyers about it after it was mentioned in a 2015 Barbara Walters television special. The lawyers hadn't known of the letter and realised it had not been introduced at their trials, making it effectively new evidence that they say corroborates allegations that Erik was sexually abused by his father. More new evidence emerged when Roy Rossello, a former member of the Latin pop group Menudo, recently came forward saying he had been drugged and raped by Jose Menendez, the boys' father, when he was a teen in the 1980s. Menudo was signed under RCA Records, where Jose Menendez was chief operating officer. Rossello spoke about his abuse in the Peacock docuseries Menendez + Menudo: Boys Betrayed , and provided a signed declaration to the brothers' lawyers. Had these two pieces of evidence been available during the brothers' trial, prosecutors would not have been able to argue that there was no corroboration of sexual abuse, or that their father Jose Menendez was not the "kind of man that would" abuse children, the petition argues. While clemency might be another pathway to freedom for the brothers, California Governor Gavin Newsom said last week that he won't decide until incoming Los Angeles district attorney Nathan Hochman reviews the case. Hochman, a Republican-turned-Independent who unseated the progressive Gascón on December 2, has said he wants to carefully look at the evidence before making any decisions. DOWNLOAD THE 9NEWS APP : Stay across all the latest in breaking news, sport, politics and the weather via our news app and get notifications sent straight to your smartphone. Available on the Apple App Store and Google Play .