ALERUS FINANCIAL CORP

Alerus Financial Corporation is a diversified financial services company providing banking, retirement and benefit services, and wealth management solutions. Through its banking division, the company offers commercial and consumer lending, residential mortgages, treasury management, and various deposit accounts. Its retirement and benefit services business delivers plan administration, investment advisory services, recordkeeping, employee stock ownership plan administration, and health account management, including health savings and flexible spending accounts. The wealth division provides fiduciary, financial planning, investment management, trust, estate administration, custody, and brokerage services. The company primarily serves consumers with complex financial needs as well as businesses, with a targeted emphasis on small to midsized enterprises across professional services, manufacturing, construction, retail, wholesale, and finance sectors.

The company operates full-service banking offices across primary market areas in North Dakota, Minnesota—specifically the Twin Cities and Rochester metropolitan areas—and Arizona within the Phoenix and Scottsdale areas. In addition, its retirement and benefit services segment serves clients across all fifty states and maintains an office in Colorado. The company's corporate headquarters is located in Grand Forks, North Dakota.

Summary of the business section of Alerus Financial's latest annual report, written by StockData.

“Actually paid” adjusts reported pay for changes in the value of equity awards. Shareholder return assumes $100 invested at the start of the measurement period, as disclosed by the company.

“The Company and its subsidiaries employed a total of 864 employees as of December 31, 2025, of which approximately:”