Alerus Financial, N.A.
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Data as of · sourced from FFIEC call reports. How we update
Alerus Financial, N.A. is an FDIC-insured commercial bank headquartered in Grand Forks, ND, established in 1933 (FDIC certificate 3931), and it is supervised by the OCC. At Q2 2026 it reported total assets of $5.28B, down 0.7% from Q2 2025, the 4th largest of 60 banks headquartered in North Dakota. Its CET1 capital ratio was 10.92% at Q2 2026, above regulatory requirements.
- Charter
- Commercial bank
- Regulator
- OCC
- Deposit insurance
- FDIC
- FDIC certificate
- 3931
- Headquarters
- Grand Forks, ND
- Established
- 1933
- Total assets, Q2 2026
- $5.28B
- Assets vs Q2 2025
- -0.7%
- CET1 ratio, Q2 2026
- 10.92%
- Domestic offices
- 27 FDIC institution directory, current count
- Routing number
- 091300159
- Latest call report
- Q2 2026, FFIEC 041 · Alerus Financial, N.A. call report
- Holding company
- ALERUS FINANCIAL CORPORATION
- Asset rank in state
- 4th of 60 in North Dakota
Alerus Financial, N.A. operates with a thinner capital cushion than most banks of its size. It reported $5.3 billion in assets at June 30, 2026. It holds common equity equal to 10.92% of its risk-weighted assets, lower than about 9 in 10 of the 895 banks with $1 billion to $10 billion in assets (median 13.52%). It also lost 3.2% of its deposits over the year, lower than about 9 in 10 banks its size (median 5.1%).
Problem loans fell by more than half over the year: loans on nonaccrual or 90 or more days past due, net of government guarantees are down to 0.26% of loans from 1.15%. Paper losses on its bond portfolio are shrinking: unrealized losses of $35 million equal 7% of Tier 1 capital, down from 23% a year earlier.
As of June 30, 2026, Alerus Financial, N.A. reported a CET1 capital ratio of 10.92%, a return on assets of 1.76%, a nonperforming-loan ratio of 0.26% and a Texas ratio of 3.87%. The figures come from its call report filed with the FFIEC.
By total assets at Q2 2026, Alerus Financial, N.A. is the 4th largest of the 60 banks headquartered in North Dakota. From Q1 2026 to Q2 2026, its total assets were flat, loans rose 0.1% and deposits fell 3.5%. 1-4 family residential loans made up 28.6% of its total loans on June 30, 2026, its largest category; next came non-owner-occupied commercial real estate loans at 22.0%. Its 26 offices in the FDIC Summary of Deposits are in 21 cities across 5 states; its Minnetonka office books 42% of its branch deposits. On its Q2 2026 call report, Alerus Financial, N.A. meets every capital ratio test for well capitalized.
Headquarters Profile
- Address
- 401 Demers Ave, Grand Forks, ND 58201
- County
- Grand Forks
- Metro Area
- Grand Forks, ND-MN
- Charter
- Commercial bank, national (federal) charter, Fed member, OCC-supervised
- Primary Regulator
- OCC
- FDIC Region
- Kansas City (Region 11)
- Federal Reserve member
- Yes
- Federal Reserve district
- District 9, Minneapolis
- Fiduciary (trust) powers
- Full trust powers granted
- Call Report form
- FFIEC 041
- Established
- September 30, 1933
- Former names
- First National Bank North Dakota (1991-2000)
- Domestic offices
- 27 FDIC institution directory, current count
- Employees (FTE)
- 886
- Domestic deposits
- $4.24B
- Allowance for credit losses
- $48.4M
- Net charge-offs (YTD)
- $9.6M
- Average total assets
- $5.23B
- Average total loans
- $4.05B
- Average interest-bearing deposits
- $3.39B
- Tax status
- C corporation
- Ownership
- Stock
- Community bank
- No
- FDIC-insured since
- January 1, 1934
- FDIC Cert
- 3931
- Fed RSSD
- 933256
- SEC CIK
- 903419 → filed by ALERUS FINANCIAL CORPORATION
- Website
- http://www.alerus.com →
- Parent Holding Company
- ALERUS FINANCIAL CORPORATION (RSSD 2067007) · ALRS
Management
Senior officers at parent holding company, from SEC Form 3/4/5 disclosures
| Name | Role | Title |
|---|---|---|
| Katie A Lorenson | CEO | Chief Executive Officer |
| Alan Villalon | CFO | EVP & Chief Financial Officer |
| Karin M Taylor | COO | EVP and COO |
| Jim Collins | CRO | EVP, CBO & CRO |
| Jon Hendry | CTO | Chief Technology Officer & EVP |
Profitability
Q2 annualizedCapital & Liquidity
Balance Sheet
Income Statement
Operating & Funding
Ratios tagged annualized use the Q2 income alone. The UBPR and FDIC annualize the year to date instead. FDIC BankFind divides by the average of quarter-end total assets, the UBPR by RC-K average assets. The YTD margin is the UBPR's tax-equivalent figure over its own average earning assets; FDIC BankFind's margin is not tax-equivalent. How we compute these figures
Quarterly trends
Alerus Financial, N.A.'s total assets moved between a low of $3.86B (Q3 2023) and a high of $5.33B (Q1 2025) from Q3 2023 to Q2 2026, and it earned a profit in 10 of the 12 quarters. The line under each chart compares Q2 2026 with Q2 2025. How these charts are built
$5.28B total assets against $5.31B; $4.70B total liabilities against $4.78B.
$4.01B net loans and leases against $4.05B; $4.24B total deposits against $4.38B.
$777.2M securities against $805.4M; $109.0M cash and balances due against $80.9M.
$70.6M total interest income against $70.4M; $21.9M total interest expense against $26.7M.
$48.8M net interest income against $43.7M.
$32.7M total noninterest income against $31.7M; $50.9M total noninterest expense against $47.1M.
$496K provision for credit losses against $0.
$22.9M net income against $21.7M.
1.76% return on assets against 1.66%; 3.95% net interest margin against 3.45%.
10.92% CET1 capital ratio against 10.78%; 9.26% tier 1 leverage ratio against 9.34%.
Inside the full Alerus Financial, N.A. terminal
21 quarters of trends · 8 tabs · peer percentiles · watchlist alerts
Unlock this bank, freeWatch flags
Automated conditions triggered on this bank's latest filing. Advisory only; see the source metric pages for full context. Each flag is tagged Regulatory when it cites an official supervisory threshold, or BRR analysis when it's our own band, informed by our data and models.
Commercial real estate loans are between 200% and 300% of total capital, approaching the 2006 interagency guidance threshold of 300% that triggers heightened supervisory attention. BankRegReports early-warning band below the 300% guidance.
Alerus Financial, N.A. rankings
Its closest position to the top of a national ranking is 275 of 4,196, for total assets; its furthest is 1,976 of 2,134, for CET1 ratio.
Quarterly trend: last 8 quarters
Across the 8 quarters to Q2 2026, its return on assets ran from -2.40% (Q4 2025) to 1.83% (Q1 2026) and its net interest margin ran from 2.19% (Q3 2024) to 3.95% (Q2 2026).
| Quarter | CET1 | ROA | NPL | Texas | NIM |
|---|---|---|---|---|---|
| Q2 2026 | 10.92% | 1.76% | 0.26% | 3.87% | 3.95% |
| Q1 2026 | 10.75% | 1.83% | 1.32% | 10.46% | 3.71% |
| Q4 2025 | 10.41% | -2.40% | 1.63% | 13.07% | 3.67% |
| Q3 2025 | 11.00% | 1.34% | 1.45% | 12.10% | 3.47% |
| Q2 2025 | 10.78% | 1.66% | 1.16% | 10.16% | 3.45% |
| Q1 2025 | 10.36% | 1.11% | 1.16% | 10.18% | 3.32% |
| Q4 2024 | 10.18% | 0.47% | 1.31% | 11.75% | 3.19% |
| Q3 2024 | 10.73% | 0.71% | 1.58% | 13.25% | 2.19% |
Swipe the table sideways to see every column.
Branch Network
View all 26 branches → Branch count from the FDIC Summary of Deposits, June 30, 2026. The domestic office count above is the FDIC's current figure, so the two can differ.
| Branch | Location | ZIP | Deposits |
|---|---|---|---|
| Alerus National Association Branch | Minnetonka , MN | 55305 | $1.77B |
| Broadway Branch | Fargo , ND | 58102 | $410.2M |
| Home Federal Savings Bank Branch | Rochester , MN | 55901 | $335.7M |
| Alerus Financial, N.A. (main office) | Grand Forks , ND | 58201 | $332.9M |
| South Branch | Grand Forks , ND | 58201 | $232.3M |
| Fargo Urban Plains Branch | Fargo , ND | 58104 | $200.4M |
| Phoenix Branch | Phoenix , AZ | 85008 | $197.0M |
| Pewaukee Branch | Pewaukee , WI | 53072 | $76.9M |
| 7 Albert Lea Branch | Albert Lea , MN | 56007 | $74.3M |
| Prosperan Bank Branch | Oakdale , MN | 55128 | $72.3M |
| 1 Spring Valley Branch | Spring Valley , MN | 55975 | $64.8M |
| Kasson Branch | Kasson , MN | 55944 | $58.0M |
| 2 Austin Branch | Austin , MN | 55912 | $57.9M |
| Scottsdale Road Branch | Scottsdale , AZ | 85255 | $55.5M |
| Excelsior Branch | Excelsior , MN | 55331 | $45.4M |
| Beacon Bank, Eden Prairie Office | Eden Prairie , MN | 55344 | $42.4M |
| 9 Marshalltown Branch | Marshalltown , IA | 50158 | $39.2M |
| Shoreview Branch | Shoreview , MN | 55126 | $36.3M |
| 4 Winona Branch | Winona , MN | 55987 | $32.2M |
| 5 La Crescent Branch | La Crescent , MN | 55947 | $28.5M |
| 20 Rochester - Superior Dr Branch | Rochester , MN | 55901 | $20.3M |
| Owatonna Branch | Owatonna , MN | 55060 | $16.4M |
| Northwood Branch | Northwood , ND | 58267 | $14.9M |
| New Eagan Branch | Eagan , MN | 55121 | $14.6M |
| Rochester Downtown Branch | Rochester , MN | 55902 | $7.6M |
Events & Regulatory History
Mergers, charter changes, enforcement actions, FDIC assistance, and (if applicable) failure events recorded against this institution. Click a year to see what else was happening across US banking that year.
| Date | Category | Event | Source |
|---|---|---|---|
| October 10, 2024 | Structure Change | Acquired Home Federal Savings Bank Charter Discontinued (Merger or Purchase & Assumption) for the acquired bank | FFIEC NIC |
| October 9, 2024 | Merger | Participated in Absorption/Consolidation/Merger | FDIC |
| September 17, 2022 | Structure Change | Acquired Metro Phoenix Bank Charter Discontinued (Merger or Purchase & Assumption) for the acquired bank | FFIEC NIC |
| September 16, 2022 | Merger | Participated in Absorption/Consolidation/Merger | FDIC |
| January 16, 2016 | Merger | Participated in Absorption/Consolidation/Merger | FDIC |
| January 16, 2016 | Structure Change | Acquired Beacon Bank Charter Discontinued (Merger or Purchase & Assumption) for the acquired bank | FFIEC NIC |
| June 26, 2014 | Structure Change | Acquired Private Bank Minnesota Charter Discontinued (Merger or Purchase & Assumption) for the acquired bank | FFIEC NIC |
| June 25, 2014 | Merger | Participated in Absorption/Consolidation/Merger | FDIC |
| November 7, 2009 | Structure Change | Acquired Prosperan Bank Failure, Government Assistance Provided for the acquired bank | FFIEC NIC |
| November 6, 2009 | Merger | Participated in FDIC Assisted Merger | FDIC |
| July 18, 2009 | Structure Change | Acquired BankFirst Failure, Government Assistance Provided for the acquired bank | FFIEC NIC |
| July 17, 2009 | Merger | Participated in FDIC Assisted Merger | FDIC |
| January 20, 2007 | Merger | Participated in Absorption/Consolidation/Merger | FDIC |
| January 20, 2007 | Structure Change | Acquired another institution Charter Discontinued (Merger or Purchase & Assumption) for the acquired bank | FFIEC NIC |
| November 2, 1991 | Structure Change | Acquired First Federal Savings and Loan Association of Fargo Failure, Government Assistance Provided for the acquired bank | FFIEC NIC |
| November 1, 1991 | Merger | Participated in Absorption/Consolidation/Merger | FDIC |
| April 20, 1991 | Structure Change | Acquired West Fargo State Bank Charter Discontinued (Merger or Purchase & Assumption) for the acquired bank | FFIEC NIC |
| April 20, 1991 | Merger | Participated in Absorption/Consolidation/Merger | FDIC |
| February 16, 1990 | Structure Change | Acquired First National Bank South Charter Discontinued (Merger or Purchase & Assumption) for the acquired bank | FFIEC NIC |
| February 16, 1990 | Merger | Participated in Absorption/Consolidation/Merger | FDIC |
Sourced from the bank event history (FDIC, Federal Reserve NIC, OCC, and OTS). Showing the most recent 20 events, scroll the table for the full history.
Regulatory record
Facts as filed or published, not a rating.
- Deposit market share
- 2.8% of deposits in ND, rank 13 of 70 institutions
- Period: June 30, 2026. Source: FDIC Summary of Deposits.
- Mortgage lending (HMDA)
- 2,624 applications, 2,118 loans originated, $758.1M originated, across 34 states
- Period: Calendar year 2025. Source: FFIEC HMDA loan application register.
- SBA 7(a) lending
- 32 loans, $35.5M approved, $1.1M average. 0.00% of that year's loans have since been charged off
- Period: Federal fiscal year 2025 (October to September). Source: SBA 7(a) and 504 loan data (FOIA).
- Not on file
- Enforcement actions, Consumer complaints, CFPB enforcement, CRA examination rating. No record from these sources, which is not the same as a clean record. Sources
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Frequently asked about Alerus Financial, N.A.
What are Alerus Financial, N.A.'s total assets?
As of the Q2 2026 filing, Alerus Financial, N.A. reported total assets of $5.28 billion in its FFIEC call report.
Where is Alerus Financial, N.A. headquartered?
It is headquartered in Grand Forks, ND, United States.
When was Alerus Financial, N.A. founded?
It was established in 1933, per the FDIC institution directory.
Is Alerus Financial, N.A. FDIC-insured?
Yes. It is an FDIC-insured commercial bank (FDIC Certificate #3931). Deposits are insured up to $250,000 per depositor, per insured bank, for each account ownership category, per FDIC rules.
Who regulates Alerus Financial, N.A.?
Alerus Financial, N.A.'s primary federal regulator is the OCC.
What is Alerus Financial, N.A.'s CET1 capital ratio?
It reported a Common Equity Tier 1 (CET1) capital ratio of 10.92% in its Q2 2026 call report, above regulatory requirements.
How many branches does Alerus Financial, N.A. operate?
It operates 27 domestic offices, per the FDIC institution directory. That count includes administrative and limited-service offices as well as full-service branches.
What is Alerus Financial, N.A.'s Texas Ratio?
Its Texas Ratio is 3.87% in its Q2 2026 call report, within the healthy range (at or below 50%, the level at which problem assets reach half of the capital cushion). The Texas Ratio measures non-performing assets against the bank's capital and reserves.
What was Alerus Financial, N.A. previously called?
The charter now named Alerus Financial, N.A. has also operated as First National Bank North Dakota (1991-2000), per FDIC structure-change records.
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