Chronicles

Unsealed documents shed light on Bremer saga

Documents in the ongoing legal battle between the Otto Bremer Trust and Bremer Financial Corporation and BFC directors have been unsealed, revealing more details of what has been a drawn-out disagreement. At the heart of debate is the trust’s ability to sell Bremer Bank over the wishes of the non-OBT directors of the St. Paul, Minn.-based BFC.  [Continue]

Earnings tank, deposits soar in first quarter

FDIC-insured banks had net income of $18.5 billion in first quarter 2020, a decline of $42.2 billion (69.6 percent) from a year ago. Just over half of banks reported year-over-year declines in net income. Deposits rose by $1.2 trillion in the first quarter from the previous quarter. [Continue]

Mortgage fintech pivots for the PPP

LendSmart, an infant mortgage-origination fintech, was active in the 2020 iteration of the Independent Community Bankers of America’s ThinkTech Accelerator in Little Rock, Ark., until the program got cut short due to the coronavirus. [Continue]

WBA names new chair

Paul Kohler, president and CEO of Charter Bank, Eau Claire, has been elected to serve as the 2020-2021 chair of the Wisconsin Bankers Association. [Continue]