ALERUS FINANCIAL CORP
Alerus Financial Corporation (NASDAQ: ALRS) operates as a diversified financial services company headquartered in Grand Forks, North Dakota with a website at www.alerus.com. The company traces its origins to 1879 when it was founded as the Bank of Grand Forks, one of the first banks chartered in the Dakota Territory.… From the company’s description.
Margins and return on equity change in ; everything else in percent. Fewer shares and less debt are shown plainly, not as bad news — it depends what you make of buybacks. Dotted labels explain each measure. is shown separately from the annual figures.
What ALERUS FINANCIAL CORP does
In the company’s own words
Alerus Financial Corporation (NASDAQ: ALRS) operates as a diversified financial services company headquartered in Grand Forks, North Dakota with a website at www.alerus.com. The company traces its origins to 1879 when it was founded as the Bank of Grand Forks, one of the first banks chartered in the Dakota Territory. It rebranded to Alerus Financial Corporation in 2000 to reflect its evolution from a traditional community bank into a comprehensive financial services provider.
The company operates through three primary business segments: banking, retirement and benefit services, and wealth. The banking division provides traditional commercial and consumer lending products, deposit services, and treasury management solutions. The retirement and benefit services segment offers retirement plan administration, investment advisory services, employee stock ownership plan administration, and health savings account services to clients nationwide. The wealth division provides fiduciary services including financial planning, investment management, trust services, and brokerage offerings.
As of December 31, 2025, Alerus Financial maintained total assets of $5.2 billion, total loans of $4.0 billion, and total deposits of $4.2 billion. The company manages $44.9 billion in assets under administration and management through its retirement and benefit services segment and $4.9 billion through its wealth segment. The company employed 864 total employees as of year-end 2025, with approximately 821 full-time and 43 part-time staff distributed across banking, retirement and benefit services, wealth, and support divisions.
The company's geographic footprint spans North Dakota, Minnesota, and Arizona, with primary market areas including the Grand Forks and Fargo metropolitan statistical areas in North Dakota, the Twin Cities and Rochester metropolitan statistical areas in Minnesota, and the Phoenix metropolitan statistical area in Arizona. The retirement and benefit services business operates nationally across all 50 states through offices in Colorado and the primary market areas.
Alerus Financial's business model emphasizes a client-centric approach through its "One Alerus" initiative, which integrates diverse product offerings through relationship-oriented advisors supported by technology platforms. The company generates revenue from both net interest income derived from traditional banking products and noninterest income primarily from retirement and benefit services and wealth segments. In October 2024, the company completed the acquisition of HMN Financial, Inc., expanding its presence in the Rochester, Minnesota market.
Company details
- Sector
- Financials
- Industry
- Commercial Banks
- Headquarters
- GRAND FORKS, ND
- Fiscal year end
- December
- CIK
- 903419
- SIC
- 6021
Financial performance, year by year
Fiscal 2019–2025 · USDThe full income statement, balance sheet and cash flow for each of these years — every figure traceable to its filing — is on the Financials tab with a free account.
Who owns ALERUS FINANCIAL CORP — and what changed
Funds as of 2026Q2 · superinvestors as of 2026-06-30
Largest fund holders · ALERUS FINANCIAL CORP’s weight in each
Fund ownership is a floor, not a census — pensions, insurers and people holding shares directly are not visible here.
Fund ownership counts N-PORT filers only, so it is a floor rather than a census — pensions, insurers and direct holders are not visible here, and the remainder is not “held by individuals”.
Every fund and institutional holder, quarter by quarter, is on the Ownership tab with a free account.
Recent filings
All filings →Each filing opens into its own statements and disclosures here.
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