Nichol Dehmer is joining Reliance Bank in Faribault, Minn., as CEO. She began her career with accounting firm CliftonLarsonAllen before joining Sunrise Banks in St. Paul, Minn., as chief operating officer in 2006. She became president of the bank in 2016.
After leaving Sunrise in 2018, Dehmer worked with several business initiatives primarily in affordable housing and financial technology. She was president of the Minnesota Multi Housing Association and founded YardHomesMN, which partnered with nonprofits to deliver tiny dwellings and promote affordable housing. She was a consultant to OneAppOregon, designing websites for renters to find and qualify for housing, and was chief growth officer for Urban FT, a financial technology provider.
“Bringing a leader of Nichol’s background to our bank at this critical time of expansion and re-direction for community banks is most strategic,” said Reliance President Todd Markman. “She has the multi-faceted experience of leading bank leadership teams and small businesses to achieve growth and investment returns. Having Nichol here will allow me to continue to concentrate on our customers, our southern Minnesota market/growth and fulfill my executive role here in Faribault while Nichol orchestrates our overall growth strategies, both geographic and digital, and execution of our Vision 2025.”
A graduate of the University of Minnesota, Dehmer has received several awards through her business career, including BankBeat Outstanding Women in Banking 2016, 2015 Top 50 Women in Business, 2014 Top Women in Finance, and 2011 Twin Cities Business Journal 40 under 40.
She sits on multiple boards, including as chair of Habitat for Humanity of Minnesota co-chair of the Drake Bank St. Paul Board.
The $198 million Reliance Bank has one office in southern Minnesota.