Alerus Financial Corporation Overview
Pro stress-test →Alerus Financial Corporation is a diversified financial services company that provides financial solutions to businesses and consumers through three distinct business segments: banking, retirement and benefit services, and wealth. The company completed its initial public offering in 2019, raising $62.8 million and began trading on NASDAQ under the ticker symbol ALRS.
Strategic Profile
Pro stress-test →Through its community banking network, Alerus emphasizes local decision-making and personalized service to meet the needs of its varied client base. The company is characterized by its combination of commercial banking, wealth services, and national retirement and benefit services, with a diversified revenue mix that includes a significant fee-based component.
Competitive Landscape
Pro stress-test →By October 2020, Alerus had grown to become the 18th-largest bank in the Twin Cities metro area in Minnesota. The company competes with larger regional and national banks, as well as community banks across the Midwest and Mountain regions. Its competitive advantage lies in its integrated platform combining commercial banking, wealth management, and national retirement services.
Industry Context
Alerus Financial Corporation operates in Commercial Banking & Financial Services.
Key facts
Founded: 1879 · Headquarters: Grand Forks, North Dakota · Employees: 846 · Revenue: $77.07M · Market cap: $0.61B