ALRS

Alerus Financial Corporation operates as a diversified financial services company providing banking, retirement and benefit services, and wealth management solutions. Headquartered in Grand Forks, North Dakota, the company serves clients across the United States through multiple business segments. Its banking division offers commercial and consumer banking products including business loans, residential mortgages, and deposit accounts, primarily serving customers in North Dakota and Minnesota through its branch network. The retirement and benefit services segment administers retirement plans, health savings accounts, and employee benefit programs for employers nationwide, representing a significant portion of the company's revenue stream. Alerus's wealth management division provides investment advisory, trust, and financial planning services to individuals, families, and institutions. The company employs approximately 600 people and operates with total assets exceeding $2 billion. Alerus trades on the NASDAQ under the ticker symbol ALRS and completed its initial public offering in 2019. The company pursues growth through both organic expansion and strategic acquisitions, having acquired several retirement plan administration and wealth management firms to expand its geographic reach and service capabilities. Its diversified business model provides multiple revenue streams across different economic cycles, distinguishing it from traditional community banks focused solely on lending and deposit-gathering activities.