Bremer Bank CEO Jeanne Crain reappointed to Minneapolis Fed Board

04.14.22

Bremer Bank President and CEO Jeanne Crain has been reelected to the Federal Reserve Bank of Minneapolis’ board of directors, for a three-year term that began January 2, 2022. Crain was elected by the member banks in Group 1 as a Class A director to serve until December 31, 2024. She was first elected to the board in October 2018, for a term beginning January 1, 2019.

“I am honored to continue serving on this deeply talented, tenacious board,” said Crain. “The Minneapolis Fed is widely respected as one of the leading voices in economic data and financing in the country, and I look forward to continued board service so we can better educate and support our communities as we enter a changed economy.”

Earlier this year, theMinneapolis/St. Paul Business Journal recognized Crain on its “People to Watch” list for 2022.

Crain joined Bremer Financial Corporation in 2012 as region CEO of Bremer Bank Twin Cities and group president of the company’s financial services business and became CEO in 2016. Prior to joining Bremer, Crain was the regional president of BMO Harris Bank. She held the same role at M&I Bank before the company was acquired in 2007. Previously, Crain held senior leadership positions at Marquette Capital Bank in Minneapolis and Bank One Milwaukee. She began her career in the industry as a commercial banker at First Bank Grand Forks in her home state of North Dakota.

Outside of her role with the Fed, Crain serves on the board of the YMCA of the North and as board vice chair of the Saint Paul Downtown Alliance. She also recently co-chaired the Minnesota Task Force on Housing.

Crain earned a master’s in business administration from Marquette University and has a bachelor’s degree from the University of North Dakota, where she was a 2018 recipient of the Sioux Award, the highest honor given by the Alumni Association and Foundation for achievement, service and loyalty.

About the Federal Reserve Bank of Minneapolis Board of Directors

Minneapolis Fed directors are selected to represent a cross section of the Ninth District economy, Pursuant to the Federal Reserve Act, the Federal Reserve Bank of Minneapolis board has nine members, with three Class A directors representing the member banks and three each of Class B and C directors, selected to represent the public with “due but not exclusive consideration to the interests of agriculture, commerce, industry, services, labor and consumers.” Member banks are stockholders of the Reserve Bank in their District and as such, are required to hold 3 percent of their capital as stock in their Reserve Banks. The Class A and B directors are elected by member banks, and the Class C directors are appointed by the Board of Governors, which also designates the board’s chair and deputy chair from among its three appointees.

The responsibilities of directors are broad, ranging from overseeing the general operations of the Minneapolis Fed to reporting on district economic conditions. This information helps prepare the Minneapolis Fed president for participation in Federal Open Market Committee meetings, where decisions are made about monetary policy.

About Bremer Financial Corporation

Bremer Financial Corporation is a privately held, regional financial services company with $16 billion in assets, jointly owned by the Otto Bremer Trust and Bremer employees. Founded in 1943 by Otto Bremer, the company is headquartered in St. Paul, Minnesota and provides a comprehensive range of banking, mortgage, investment, wealth management, and insurance products and services throughout Minnesota, North Dakota and Wisconsin. Clients include small businesses, mid-sized corporations, agribusinesses, nonprofits, public and government entities, and individuals and families.