Paul Ederer, a fixture in St. Michael community banking for over 35 years, will retire as ExecutiveVice President of First American Bank Friday, May 30, 2014.
Ederer joined the staff of First American Bank upon the merger between First American Bank and Great Northern Bank on February 28, 2014.
Ederer is perhaps better known to the community as one of the original incorporators of Great Northern Bank, where he served as President, CEO and Director for the past 14 years. Ederer served as the “face of the bank,” and was responsible for the bank’s lending function and general overall management of the bank.
Ederer will remain on the Board of Directors of First American Bank.
“I am very excited about this merger and I’m very pleased that I’m not completely leaving the Bank, but will remain connected through ongoing Board service,” Ederer said. “This is a special place, and while I’m looking forward to retirement and spending more time with family, I feel fortunate to be able to stay involved in this capacity.”
“We wish Paul well in his retirement and are thankful that he will remain an integral part of the Bank as a member of the Board of Directors,” added Dennis Martodam, First American Bank Market President in St. Michael.
A longtiem banker, respected community advocate and dedicated family man, Ederer has provided leadership in many areas. He began his banking career in 1968 at Northwestern National Bank of Minneapolis (now Wells Fargo) in the consumer lending area, spent four years as vice president, First National Bank of Waconia, and later moved to Security State Bank (now Highland Bank) in St. Michael where he spent 19 years as bank president.
Ederer attended the University of Minnesota and is a graduate and post-graduate of the Graduate School of Banking in Madison, WI. Ederer and his wife Sharon are 35-year residents of St. Michael, and they have two grown children as well as four grandchildren.Ederer has long been a respected leader in the banking industry—he is a co-founder and past president of the St. Michael Chamber of Commerce (New Gateway Chamber). He is also a past director of the Minnesota Bankers’ Association and a charter member and past president of the City of St. Michael Economic Development Authority as well as a charter member of the STMA Rotary.
“Paul has played an important role in the Bank’s success and we expect we will continue to benefit from his expertise and community involvement. First American Bank feels strongly about being involved in the communities in which we operate, and Paul’s role as a member of the Board of Directors will ensure we maintain that focus.” said John Malmberg, President/CEO of First American Bank.