ALERUS FINANCIAL CORP

Alerus Financial Corporation is a diversified financial services company based in Grand Forks, North Dakota. Through its subsidiary, Alerus Financial, National Association, the company offers financial solutions to businesses and consumers across three business segments: banking, retirement and benefit services, and wealth. Previously, the company operated a mortgage segment, which was fully integrated into the banking division as of January 1, 2024. These services are provided through a primary point of contact and client-friendly technology. As of December 31, 2025, Alerus Financial Corporation reported $5.2 billion in total assets, $4.0 billion in total loans, $4.2 billion in total deposits, and $564.9 million in stockholders' equity. The retirement and benefit services segment had $44.9 billion of assets under administration/management, while the wealth segment had $4.9 billion of assets under administration/management. The company generates revenue from both net interest income, derived from traditional banking products, and noninterest income, primarily from its retirement and benefit services and wealth segments. The company's operations began in 1879 as the Bank of Grand Forks, changing its name to Alerus Financial Corporation in 2000.