Company Description
Alerus Financial Corporation operates as the bank holding company for Alerus Financial, National Association that engages in the provision of various financial services to businesses and consumers.
The company operates in four segments: Banking, Mortgage, Retirement and Benefit Services, and Wealth Management.
It offers various deposit products, including demand deposits, interest-bearing transaction accounts, money market accounts, time and savings deposits, checking accounts, and certificates of deposit; and treasury management products, including electronic receivables management, remote deposit capture, cash vault services, merchant services, and other cash management services.
The company also provides commercial loans, business term loans, lines of credit, and commercial real estate loans, as well as construction and land development loans; consumer lending products, including residential first mortgage loans; installment loans and lines of credit; and second mortgage loans.
In addition, it offers retirement plan administration and investment advisory services, employee stock ownership plan, fiduciary services, payroll, health savings accounts, and other benefit 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 and credit cards, online banking, mobile banking/wallet, payment, private banking, payroll accounts, flex spending accounts, administration, and government health insurance program services.
It offers banking services in North Dakota, Minnesota, and Arizona; and retirement and benefit plans through offices located in Michigan, Minnesota, and Colorado.
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 | 754 |
| 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 |
| 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 | President, Chief Executive Officer and Director |
| Karin M. Taylor | Executive Vice President and Chief Risk and Operating Officer |
| Jim R. Collins | Executive Vice President and Chief Banking and Revenue Officer |
| Alan A. Villalon | Executive Vice President and Chief Financial Officer |
| Sunil N. Swami | Chief Investment Officer |
| Kari Koob | Director of Accounting and Principal Accounting Officer |
| Jonathan N. Hendry | Executive Vice President and Chief Technology Officer |
| Bonnie Upham CPA | Chief Compliance Officer |
| Scott Fenske | General Counsel and Corporate Secretary |
| Chris Wolf CPA | Commercial Banking Executive and Regional President |
Latest SEC Filings
| Date | Type | Title |
|---|---|---|
| Oct 31, 2024 | 10-Q | Quarterly Report |
| Oct 29, 2024 | 8-K | Current Report |
| Oct 22, 2024 | SC 13G/A | [Amend] Statement of acquisition of beneficial ownership by individuals |
| Oct 9, 2024 | 8-K | Current Report |
| Sep 26, 2024 | 8-K | Current Report |
| Sep 13, 2024 | 8-K | Current Report |
| Aug 21, 2024 | 8-K | Current Report |
| Aug 8, 2024 | 10-Q | Quarterly Report |
| Jul 31, 2024 | EFFECT | Notice of Effectiveness |
| Jul 31, 2024 | 424B3 | Prospectus |