Bremer CEO announces retirement

Stan Dardis, chief executive officer of Bremer Financial, has announced he will be retiring effective April 1, 2010.

A 33-year veteran of banking and financial services, Dardis, a Woodbury resident, was named chief executive officer of Bremer and elected to its board of directors in 1998.

The Bremer board of directors has approved Patrick Donovan, president and chief operating officer of Bremer, as Dardis’ successor.

“Stan has been a great banker and has led Bremer through some of the most challenging times faced by our industry,” said Terry Cummings, chairman of the Bremer Board of Directors. “We are fortunate that he has agreed to stay with Bremer through next April, ensuring that this transition will be seamless for our employees, clients and community.”

Dardis notified Bremer’s 1,800 employees — who are also the company’s shareholders — in a personal message.

“Bremer is here for the long haul and we have accomplished much together,” Dardis said. “We have seen growth and change. Change is exciting and inevitable.

“Thanks to the leadership and focus of our team, Bremer remains stable, profitable and well-capitalized in a rapidly changing environment. Unlike many of our peers, Bremer was profitable in 2008 and we have gotten off to a strong start in 2009.”

Prior to joining Bremer, Dardis had a varied career.

After serving in the United States Air Force as an instructor pilot in the advanced jet program, he began his banking career as an agricultural loan officer at Norwest Bank in Aberdeen, S.D. From there, he became vice president of credit and banking services and director at First National Bank in Bowman, N.D., and then executive vice president, senior lender at Norwest Bank in Fargo, N.D. Dardis was then president, chief executive officer and director of Metropolitan Federal Bank.

Dardis is a graduate of North Dakota State University (NDSU) and the Graduate School of Banking at the University of Wisconsin. In 1994, Dardis received the Honored Alumnus Award from NDSU. He is also a trustee of the NDSU Development Foundation and past president of the Alumni Association.

He currently serves as a director of the Capital City Partnership. He is chairman of the Opportunity Housing Investment Fund, which serves to improve the quality and availability of affordable housing in East St. Paul. He is a director of the Wilder Foundation and co-chair of the Wilder Capital Campaign.

In addition, Dardis is the chairman of the Business Task Force for Heading Home MN to end homelessness in Minnesota. Dardis is also a director of the Central Corridor task force and a member of the St. Paul Rotary.

Bremer Financial Corporation is a privately-held, $7.7 billion regional financial services company jointly owned by its employees and the Otto Bremer Foundation (OBF). Founded in 1943 by Otto Bremer, the company is headquartered in St. Paul and provides a comprehensive range of banking, investment, trust and insurance services to more than 100 locations in Minnesota, North Dakota and Wisconsin.

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