OverviewSuggest Edit

Alerus Financial is an independent financial services company. It offers an array of products and services including banking, mortgage, trust and investments, and retirement planning services. The company serves individuals, families, small businesses, agriculture sector, and non-profits and foundations.

TypePublic
Founded1879
HQGrand Forks, ND, US
Websitealerus.com
Employee Ratings4.2

Latest Updates

Employees (est.) (Jun 2019)792
Job Openings66
Revenue (FY, 2020)$149.4 M(+31%)
Share Price (Jan 2022)$29.8
Cybersecurity ratingAMore
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Key People/Management at Alerus

Ann McConn

Ann McConn

Executive Vice President and Chief Shared Services Officer
Lori Day

Lori Day

SVP, Director of Mortgage
Jon Hendry

Jon Hendry

SVP, Chief Information Officer
Karin Taylor

Karin Taylor

Executive Vice President and Chief Risk Officer
Brian Schumacher

Brian Schumacher

SVP, Director of Wealth Management
Karen M. Bohn

Karen M. Bohn

Director
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Alerus Office Locations

Alerus has offices in Grand Forks, Eden Prairie, Excelsior, Minneapolis and in 3 other locations
Grand Forks, ND, US (HQ)
401 Demers Ave
Eden Prairie, MN, US
7890 Mitchell Rd
Excelsior, MN, US
409 2nd St
Minneapolis, MN, US
7650 Edinborough Way #645
Minneapolis, MN, US
Canadian Pacific Plaza, 120 South 6th St
Minnetonka, MN, US
11100 Wayzata Blvd #570
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Alerus Financials and Metrics

Alerus Revenue

Alerus's revenue was reported to be $149.37 m in FY, 2020
USD

Revenue (Q1, 2021)

40.9m

Net income (Q1, 2021)

15.2m

Market capitalization (10-Jan-2022)

511.9m

Closing stock price (10-Jan-2022)

29.8

Cash (31-Mar-2021)

190.2m

EV

387.9m
Alerus's current market capitalization is $511.9 m.
Annual
USDFY, 2016FY, 2017FY, 2018FY, 2019FY, 2020

Revenue

175.0m178.7m190.5m114.2m149.4m

Revenue growth, %

2%7%

Cost of goods sold

7.0m8.0m12.5m

Gross profit

168.0m170.7m178.0m
Quarterly
USDQ3, 2019Q1, 2020Q2, 2020Q3, 2020Q1, 2021

Revenue

29.6m27.2m38.2m45.3m40.9m

Sales and marketing expense

890.0k610.0k549.0k929.0k676.0k

Operating expense total

1.9m1.5m2.3m1.7m1.8m

Depreciation and amortization

990.0k990.0k991.0k1.2m
Annual
USDFY, 2016FY, 2017FY, 2018FY, 2019FY, 2020

Cash

207.4m122.0m40.7m144.0m173.0m

Accounts Receivable

1.7b1.9b

PP&E

24.3m21.2m21.7m20.6m20.3m

Goodwill

30.2m
Quarterly
USDQ3, 2019Q1, 2020Q2, 2020Q3, 2020Q1, 2021

Cash

61.2m198.5m210.4m95.8m190.2m

Accounts Receivable

1.7b1.7b2.0b2.0b1.9b

PP&E

21.2m20.4m20.7m20.5m19.6m

Goodwill

27.3m27.3m27.3m27.3m30.2m
Annual
USDFY, 2016FY, 2017FY, 2018FY, 2019FY, 2020

Net Income

14.0m15.0m28.9m29.5m44.7m

Depreciation and Amortization

11.4m9.9m8.7m8.8m9.0m

Cash From Operating Activities

34.0m47.9m53.6m19.2m(22.3m)

Purchases of PP&E

(1.7m)(2.9m)(3.8m)(2.9m)(3.8m)
Quarterly
USDQ3, 2019Q1, 2020Q2, 2020Q3, 2020Q1, 2021

Net Income

21.9m5.4m16.8m34.5m15.2m

Depreciation and Amortization

6.5m2.1m4.3m6.7m2.3m

Cash From Operating Activities

1.9m(21.2m)(22.7m)(19.8m)54.8m

Purchases of PP&E

(2.4m)(689.0k)(2.0m)(2.8m)(277.0k)
USDFY, 2016

Debt/Equity

0.4 x

Financial Leverage

14.7 x
Show all financial metrics

Alerus Operating Metrics

Alerus's Assets Under Management was reported to be $5.3b in Jun, 2019. Alerus's Enterprise Customers was reported to be 10.5 k in Jun, 2019. Alerus's Customers was reported to be 45.5 k in Jun, 2019.
FY, 2014FY, 2015FY, 2016FY, 2017FY, 2018Jun, 2019

Assets Under Administration

$15.5 b$17.5 b$25 b$28.2 b$25.9 b$27.9 b

Assets Under Management

$2.5 b$2.6 b$3.4 b$3.8 b$4.6 b$5.3 b

Customers

45.5 k

Enterprise Customers

10.5 k
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Alerus Acquisitions / Subsidiaries

Company NameDateDeal Size
Alerus Financial, National Association
Alerus Securities Corporation
Excelsior Financial Statutory Trust I
Excelsior Financial Statutory Trust II

Alerus Cybersecurity Score

Cybersecurity ratingPremium dataset

A

93/100

SecurityScorecard logo

Alerus Environment, Social & Governance (ESG) Ratings

CSRHub ESG ratingPremium dataset

40-49

out of 100

CSRHub logo

Alerus Online and Social Media Presence

Embed Graph

Alerus News and Updates

Shareholder Alert: Ademi LLP investigates whether MPB BHC, INC. has obtained a Fair Price in its transaction with Alerus

MILWAUKEE, Dec. 9, 2021 /PRNewswire/ -- Ademi LLP is investigating MPB (OTCPink: MPHX), for possible breaches of fiduciary duty and other violations of law in its transaction with Alerus. Click here to learn how to join the action: https://www.ademilaw.com/case/mpb-bhc-inc or call Guri...

Alerus Blogs

Alerus Adds Jennifer March as Financial Guide

EXCELSIOR, MINNESOTA (Jan. 19, 2022) – Alerus is pleased to announce the addition of Jennifer March as a financial guide. In this role, she is responsible for assisting clients in identifying their specific financial needs and providing comprehensive advice to help them achieve their financial welln…

Alerus Adds Annette Wanchena as Lead Treasury Management Specialist

MINNEAPOLIS (Jan. 5, 2022) – Alerus is pleased to announce the addition of Annette Wanchena as lead treasury management specialist. In this role, Wanchena oversees the treasury team across Alerus’ geographic footprint and is responsible for account fulfillment, ongoing servicing, compliance, strateg…

Alerus Adds Michael Birch as Consumer Sales Regional Director

MINNEAPOLIS (Jan. 4, 2022) – Alerus is pleased to announce the addition of Michal Birch as Twin Cities regional director of consumer sales. In this role, he is responsible for leading and managing the market’s financial advisors and financial guides to ensure clients receive comprehensive financial …

Alerus Adds Brent Quast as Senior Business Advisor

MINNEAPOLIS (Dec. 15, 2021) – Alerus is pleased to announce the addition of Brent Quast as senior business advisor. In this role, he serves as the trusted point of contact for business clients and delivers comprehensive financial advice to help them achieve their financial wellness goals. He works c…

Alerus Announces Acquisition of Metro Phoenix Bank

GRAND FORKS, N.D. & PHOENIX, A.Z. (December 8, 2021) – Alerus Financial Corporation (“Alerus”) (NASDAQ: ALRS) announced today the signing of a definitive agreement and plan of merger to acquire MPB BHC, Inc. (“MPHX”) (OTCPK: MPHX), the bank holding company for Metro Phoenix Bank, the largest ful…

Alerus Build Your Community Program Tops $4 Million in Giving

MINNEAPOLIS (Dec. 8, 2021) – Alerus is pleased to announce it has donated more than $4 million to charitable organizations through its Build Your Community program since the program’s inception in 2007. From January 2020 through August 2021, over $600,000 was contributed to charitable organizations …
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Alerus Frequently Asked Questions

  • When was Alerus founded?

    Alerus was founded in 1879.

  • Who are Alerus key executives?

    Alerus's key executives are Ann McConn, Lori Day and Jon Hendry.

  • How many employees does Alerus have?

    Alerus has 792 employees.

  • What is Alerus revenue?

    Latest Alerus annual revenue is $149.4 m.

  • What is Alerus revenue per employee?

    Latest Alerus revenue per employee is $188.6 k.

  • Who are Alerus competitors?

    Competitors of Alerus include Rosedale Federal, Bank of the Bluegrass and Westbury Bancorp.

  • Where is Alerus headquarters?

    Alerus headquarters is located at 401 Demers Ave, Grand Forks.

  • Where are Alerus offices?

    Alerus has offices in Grand Forks, Eden Prairie, Excelsior, Minneapolis and in 3 other locations.

  • How many offices does Alerus have?

    Alerus has 10 offices.