EXHIBIT 5
FREDRIKSON & BYRON, P.A.
900 Second Avenue South, Suite 1100
Minneapolis, Minnesota 55402
Telephone: (612) 347-7000
Facsimile: (612) 347-7077
September 25, 2000
Northern Star Financial, Inc.
1650 Madison Avenue
Mankato, Minnesota 56001
Re: Registration Statement on Form S-8
Ladies/Gentlemen:
We are acting as corporate counsel to Northern Star Financial, Inc.
(the "Company") in connection with the original registration by the Company on
Form S-8 (the "Registration Statement") under the Securities Act of 1933, as
amended (the "Act") of options and 116,700 shares (the "Shares") of Common Stock
issuable pursuant to the Company's 1998 Equity Incentive Plan (the "Plan").
In acting as such counsel and for the purpose of rendering this
opinion, we have reviewed copies of the following, as presented to us by the
Company:
1. The Company's Articles of Incorporation, as amended.
2. The Company's Bylaws, as amended.
3. Certain corporate resolutions adopted by the Board of
Directors and shareholders of the Company pertaining to the
adoption and approval of the Plan.
4. The Plan.
5. The Registration Statement.
Based on, and subject to, the foregoing and upon representations and
information provided by the Company or its officers or directors, it is our
opinion as of this date that:
<PAGE>
1. The Shares are validly authorized by the Company's Articles of
Incorporation, as amended.
2. Upon issuance and delivery of the Shares against receipt by
the Company of the consideration for the Shares pursuant to
the terms of the Plan, the Shares will be validly issued,
fully paid and nonassessable.
We hereby consent to the filing of this opinion as an exhibit to the
Registration Statement.
Very truly yours,
FREDRIKSON & BYRON, P.A.
By /s/ Daniel A. Yarano
Daniel A. Yarano
