ALERUS FINANCIAL CORP

Alerus Financial Corporation is a bank holding company headquartered in Grand Forks, North Dakota, operating Alerus Financial, National Association. The company provides retail and commercial banking services across deposit products, lending, treasury management, and payment solutions. Its deposit offerings include demand deposits, interest-bearing transaction accounts, money market accounts, certificates of deposit, and noninterest-bearing accounts. On the lending side, it originates commercial loans, commercial real estate loans, commercial and industrial loans, residential mortgages, and consumer installment loans. Treasury management services encompass electronic receivables management, remote deposit capture, cash vault services, and merchant services.

The company operates through three distinct segments: Banking, which encompasses its core lending and deposit operations; Retirement and Benefit Services, providing retirement plan administration, investment advisory services, health savings accounts, flexible spending accounts, and COBRA recordkeeping; and Wealth, which offers financial planning, investment management, personal and corporate trust, estate administration, and custody services.

Alerus Financial was founded in 1879 as First National Bank North Dakota and rebranded under its current name in 2000. The company maintains a regional presence centered in the upper Midwest, serving both business and consumer customers. It provides debit cards, credit cards, online and mobile banking services, and private banking for higher-net-worth clients, along with government health insurance program administration services.