Press Release

August 17, 2009

BREMER BANK TO PARTNER WITH
RAYMOND JAMES FOR INVESTMENT
AND WEALTH MANAGEMENT SERVICES

ST. PAUL, Minn. - Steve Kruchten, president of Bremer Investments, a subsidiary of the privately held Bremer Financial Corporation, announced today that Bremer Bank will partner with Raymond James Financial Services, Inc, member FINRA/SIPC to offer clients investment and wealth management services. The conversion to the new services will take place in the third quarter.

“Bremer is a customer-friendly bank that delivers best-of-class service and products, and this new partnership with Raymond James will allow us to create an even stronger investment services company,” said Kruchten. “It will also enable us to continue delivering outstanding service and innovative solutions for our clients, as well as providing access to even more resources from one of the largest and most respected investment firms in the country.”

Raymond James is known for its award-winning research staff, the latest in financial planning technology and relationship management, a sophisticated wealth solutions team and a dedicated 900 person IT support staff.

“We are privileged to welcome Steve and his team at Bremer Investments to the Raymond James Financial Institutions Division family,” said RJFS-FID managing director John Houston. “Their commitment to servicing all their clients’ investment and wealth management needs is tremendous and we look forward to a long and mutually rewarding partnership.”

About Bremer Bank & Bremer Investments

Bremer Financial Corporation is a privately-held, $7.6 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, Minnesota and provides a comprehensive range of banking, investment, trust and insurance services to more than 100 locations in Minnesota, North Dakota and Wisconsin. OBF uses its share of dividends to distribute charitable grants to Bremer bank communities. In 2008, more than $30 million in charitable donations were given across the Bremer footprint and employees donated nearly 93,000 volunteer hours to their communities.

About Raymond James Financial Services

Raymond James Financial Services, Inc. is a national investment firm providing financial services to individuals, corporations and municipalities through more than 3,200 financial advisors in 2,000 offices throughout the United States. For more than 30 years, Raymond James Financial Services has provided a wide range of services through our affiliate, Raymond James & Associates, Inc., member New York Stock Exchange/SIPC. Both broker/dealers are wholly owned subsidiaries of Raymond James Financial, Inc. (NYSE-RJF), a financial services holding company which has more than 5,300 financial advisors serving 1.8 million accounts throughout the United States, Canada and overseas. In addition, total client assets are approximately $196 billion, of which approximately $29 billion are managed by the firm's asset management subsidiaries.

About the Financial Institutions Division of RJFS

The Financial Institutions Division (RJFS-FID) was created in 1987 to provide community-based banks and credit unions with an alternative to the traditional third-party investment providers. RJFS-FID provides true, full-service securities brokerage to financial institutions seeking to compete with the national securities firms. In addition to a full complement of investment products and services, RJFS-FID has the ability to deliver investment banking, research, self-clearing capabilities and wealth management services. The division currently provides investment services to over 200 financial institutions across 42 states with total assets of more than $21 billion in 300,000 client accounts.

-30-

For additional information, please contact Anthea Penrose at 727-567-2824.
Please visit the Raymond James Press Center at raymondjames.com/media