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Alerus Financial Corporation (ALRS)

NasdaqCM - NasdaqCM Real-time price. Currency in USD
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19.90-0.02 (-0.10%)
At close: 04:00PM EDT
19.90 0.00 (0.00%)
After hours: 04:02PM EDT

Alerus Financial Corporation

401 Demers Avenue
Grand Forks, ND 58201
United States
701 795 3200

Sector(s)Financial Services
IndustryBanks - Regional
Full-time employees709

Key executives

NameTitlePayExercisedYear born
Ms. Katie A. LorensonPresident, CEO & Director818.4kN/A1981
Ms. Karin M. TaylorExecutive VP, Chief Risk & Operating Officer513.38kN/A1968
Mr. Jim R. CollinsExecutive VP and Chief Banking & Revenue Officer601.52kN/A1972
Mr. Alan A. VillalonExecutive VP & CFON/AN/A1974
Mr. Sunil N. SwamiChief Investment OfficerN/AN/A1957
Ms. Kari KoobDirector of Accounting & Principal Accounting OfficerN/AN/A1985
Mr. Jonathan N. HendryExecutive VP & CTON/AN/A1966
Ms. Bonnie Upham CPAChief Compliance OfficerN/AN/AN/A
Mr. Scott FenskeGeneral Counsel & Corporate SecretaryN/AN/AN/A
Mr. Wade DykemaDirector of Sales, Alerus Retirement & BenefitsN/AN/AN/A
Amounts are as of 31 December 2023, and compensation values are for the last fiscal year ending on that date. Pay includes salary, bonuses, etc. Exercised is the value of options exercised during the fiscal year. Currency in USD.


Alerus Financial Corporation operates as the bank holding company for Alerus Financial, National Association that engages in the provision of various financial services to businesses and consumers. The company operates in four segments: Banking, Mortgage, Retirement and Benefit Services, and Wealth Management. It offers various deposit products, including demand deposits, interest-bearing transaction accounts, money market accounts, time and savings deposits, checking accounts, and certificates of deposit; and treasury management products, including electronic receivables management, remote deposit capture, cash vault services, merchant services, and other cash management services. The company also provides commercial loans, business term loans, lines of credit, and commercial real estate loans, as well as construction and land development loans; consumer lending products, including residential first mortgage loans; installment loans and lines of credit; and second mortgage loans. In addition, it offers retirement plan administration and investment advisory services, employee stock ownership plan, fiduciary services, payroll, health savings accounts, and other benefit services, as well as individual retirement accounts; and financial planning, investment management, personal and corporate trust, estate administration, and custody services. Further, the company provides debit and credit cards, online banking, mobile banking/wallet, payment, private banking, payroll accounts, flex spending accounts, administration, and government health insurance program services. It offers banking services in North Dakota, Minnesota, and Arizona; and retirement and benefit plans through offices located in Michigan, Minnesota, and Colorado. The company was formerly known as First National Bank North Dakota and changed its name to Alerus Financial Corporation in 2000. Alerus Financial Corporation was founded in 1879 and is headquartered in Grand Forks, North Dakota.

Corporate governance

Alerus Financial Corporation’s ISS governance QualityScore as of 1 April 2024 is 3. The pillar scores are Audit: 3; Board: 2; Shareholder rights: 4; Compensation: 6.

Corporate governance scores courtesy of Institutional Shareholder Services (ISS). Scores indicate decile rank relative to index or region. A decile score of 1 indicates lower governance risk, while 10 indicates higher governance risk.