Alerus Financial Corp
alerus.comWhat Do They Do?
Provides retirement-plan and employee-benefit services to employers, and banking and wealth services to businesses and consumers.
10-K for FY2025, filed Mar 4, 2026Alerus Financial Corporation (the “Company”) is a diversified financial services company headquartered in Grand Forks, North Dakota.…View ↗
Retirement and Benefit ServicesView ↗
The Company’s wealth division provides fiduciary services to consumer and commercial clients. These services include financial planning…View ↗
How Do They Make Money?
Retirement and benefit clients pay asset-based fees, usually billed monthly or quarterly, and transaction fees for plan services. Wealth clients pay asset-based fees, transaction commissions and fixed service fees; banking adds interest on loans and charges for deposit services.
10-K for FY2025, filed Mar 4, 2026Retirement and benefit services: Retirement and benefit services income is primarily comprised of fees earned from the administration of…View ↗
Wealth: Wealth income is earned from a variety of sources including trust administration and other related fiduciary services, custody…View ↗
Net interest income represents interest income less interest expense. The Company generates interest income on interest-earning assets…View ↗
Service charges on deposit accounts: Service charges on deposit accounts primarily consist of account analysis fees, monthly maintenance…View ↗
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10-K for FY2025, filed Mar 4, 2026
FY2025 revenue by product or service (Revenue from Contract with Customer, Excluding Assessed Tax) ↗
$279.6M
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10-K for FY2025, filed Mar 4, 2026
$279.6M ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Retirement and Benefit Services
|
64%
FY2022: 72%
|
Retirement and Benefit Services, FY2025
$65.9M Sources
|
|
|
Wealth Management
|
27%
FY2022: 22%
|
Wealth Management, FY2025
$28.3M Sources
|
|
|
Deposit Account
|
2.7%
FY2022: 1.5%
|
Deposit Account, FY2025
$2.8M Sources
|
|
|
Interchange Fees
Usage-based
|
3.3%
FY2022: 2.4%
|
Interchange Fees, FY2025
$3.4M Sources
|
Usage-based |
|
Transactional Fees
Usage-based
|
1.8%
FY2022: 1.5%
|
Transactional Fees, FY2025
$1.9M Sources
|
Usage-based |
|
Other Noninterest
|
1.2%
FY2022: 0.4%
|
Other Noninterest, FY2025
$1.2M Sources
|
Who Are Their Customers?
Serves businesses and consumers through advisor relationships, with retirement and benefit services offered to employers and clients nationwide.
10-K for FY2025, filed Mar 4, 2026Alerus Financial Corporation (the “Company”) is a diversified financial services company headquartered in Grand Forks, North Dakota.…View ↗
Through One Alerus, the Company strives to provide each client with a primary point of contact—a trusted advisor—who takes the time to…View ↗
Retirement and Benefit ServicesView ↗
Do Revenues Turn Into Profits?
Yes. It kept 6 cents of every revenue dollar as net income in FY2025 and turned 21 cents into free cash flow.
How Are They Changing?
10-Q for Q2 FY2026, filed Aug 3, 2026
Open tableView ↗
Growing. Revenue grew 3.0x in 4 years, from $92.7M in FY2021 to $279.6M in FY2025, about 32% a year.
Mortgage folded into banking
Mortgage was a separate business segment; the mortgage division is integrated into banking.
10-K for FY2022, filed Mar 13, 2023 10-K for FY2025, filed Mar 4, 2026Alerus Financial Corporation, or the Company, is a diversified financial services company headquartered in Grand Forks, North Dakota.…View ↗
Alerus Financial Corporation (the “Company”) is a diversified financial services company headquartered in Grand Forks, North Dakota.…View ↗
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