Company Description
Alerus Financial Corporation operates as the bank holding company for Alerus Financial, National Association that provides various financial services to businesses and consumers in the United States.
The company operates through three segments: Banking, Retirement and Benefit Services, and Wealth. It offers demand deposits, interest-bearing transaction accounts, money market accounts, time and savings deposits, noninterest-bearing deposits, interest-bearing checking accounts, and certificates of deposit; and treasury management products, including electronic receivables management, remote deposit capture, cash vault, merchant, and other cash management services.
The company also provides commercial loans, business term loans, and lines of credit; commercial real estate, and commercial and industrial loans; consumer lending products, including residential first mortgage loans; and installment loans, and loans collateralized by cash and marketable securities.
In addition, it offers retirement plan, and investment advisory services, employee stock ownership plan, investment fiduciary services, health savings accounts, flex spending accounts, COBRA recordkeeping, and other administration services, as well as individual retirement accounts; and financial planning, investment management, personal and corporate trust, estate administration, and custody services.
Further, the company provides debit cards, personal and business loans, credit cards, online and mobile banking/wallet, private banking, deposit and payment solutions, administration, and government health insurance program services.
The company was formerly known as First National Bank North Dakota and changed its name to Alerus Financial Corporation in 2000.
Alerus Financial Corporation was founded in 1879 and is headquartered in Grand Forks, North Dakota.
| Country | United States |
| Founded | 1879 |
| IPO Date | Sep 13, 2019 |
| Industry | Banks - Regional |
| Sector | Financials |
| Employees | 892 |
| CEO | Katie Lorenson |
Contact Details
Address: 401 Demers Avenue Grand Forks, North Dakota 58201 United States | |
| Phone | 701 795 3200 |
| Website | alerus.com |
Stock Details
| Ticker Symbol | ALRS |
| Exchange | NASDAQ |
| Stock Type | Common Stock |
| Fiscal Year | January - December |
| Reporting Currency | USD |
| IPO Price | $21.00 |
| CIK Code | 0000903419 |
| CUSIP Number | 01446U103 |
| ISIN Number | US01446U1034 |
| Employer ID | 45-0375407 |
| SIC Code | 6021 |
Key Executives
| Name | Position |
|---|---|
| Katie A. Lorenson CPA | President, Chief Executive Officer and Director |
| Daniel Edmund Coughlin | Executive Chairman |
| Alan A. Villalon | Executive Vice President and Chief Financial Officer |
| Karin M. Taylor | Executive Vice President and Chief Operating Officer |
| Jim R. Collins | Executive Vice President and Chief Banking and Revenue Officer |
| Forrest Rexford Wilson | Executive Vice President and Chief Retirement Services Officer |
| Kari Koob | Director of Accounting |
| Bonnie Upham CPA | Chief Compliance Officer |
| Missy S. Keney | Executive Vice President and Chief Engagement Officer |
| Joseph Birkholz | Chief Risk Officer |
Latest SEC Filings
| Date | Type | Title |
|---|---|---|
| Aug 5, 2025 | 10-Q | Quarterly Report |
| Jul 28, 2025 | 8-K | Current Report |
| May 22, 2025 | 8-K | Current Report |
| May 13, 2025 | SCHEDULE 13G/A | Filing |
| May 12, 2025 | 8-K | Current Report |
| May 6, 2025 | 10-Q | Quarterly Report |
| Apr 28, 2025 | 8-K | Current Report |
| Mar 28, 2025 | ARS | Filing |
| Mar 28, 2025 | DEFA14A | Additional definitive proxy soliciting materials and Rule 14(a)(12) material |
| Mar 28, 2025 | DEF 14A | Other definitive proxy statements |