Alerus Financial Corp.
- ALRS · Nasdaq
- National Commercial Banks
- Grand Forks, ND
- 864 employees
- CIK 0000903419
Updated from SEC filings through
Top things to know
Executives
- Alan A. Villalon Executive Vice President and Chief Financial Officer 10-K, 2026-03-04
- Alan Villalon EVP & Chief Financial Officer 4, 2026-03-02
- Forrest Wilson EVP & Chief Ret. Svcs. Officer 4, 2026-03-02
- Missy Keney Chief Engagement Officer 4, 2026-03-02
- Kari Koob SVP, Controller 4, 2026-09-15
- Kari A. Koob SVP, Controller 10-K, 2026-03-04
Alerus Financial Corp is a U.S. public company in national commercial banks (SIC 6021), headquartered in Grand Forks, ND. It trades as ALRS on Nasdaq. Revenue was $280M in the fiscal year ending December 31, 2025, +26.2% from the year before. It reported about 864 employees. Katie A. Lorenson is Director, President and Chief Executive Officer.
Five-year financials
| Metric | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Revenue | $280M 10-K, 2026-03-04 | $222M 10-K, 2026-03-04 | $165M 10-K, 2026-03-04 | $116M 10-K, 2025-03-14 | $92.7M 10-K, 2024-03-08 |
| Operating income | Not on file | Not on file | Not on file | Not on file | Not on file |
| SG&A | Not on file | Not on file | Not on file | Not on file | Not on file |
| Net income | $17.4M 10-K, 2026-03-04 | $17.8M 10-K, 2026-03-04 | $11.7M 10-K, 2026-03-04 | $40.0M 10-K, 2025-03-14 | $52.7M 10-K, 2024-03-08 |
Annual figures from XBRL in each company's own filings. Click a figure to open the filing. SG&A marked derived is general and administrative plus selling and marketing.
Leadership and board
| Name | Title | Source |
|---|---|---|
| President and Chief Executive Officer at Alerus | Director, President and Chief Executive Officer | 10-K, 2026-03-04 |
| Alan A. Villalon | Executive Vice President and Chief Financial Officer | 10-K, 2026-03-04 |
| Alan Villalon Chief Financial Officer at Alerus | EVP & Chief Financial Officer | 4, 2026-03-02 |
| Forrest Wilson Helping you grow your retirement plans business | EVP & Chief Ret. Svcs. Officer | 4, 2026-03-02 |
| Missy Keney EVP, Chief Engagement Officer | Chief Engagement Officer | 4, 2026-03-02 |
| Kari Koob | SVP, Controller | 4, 2026-09-15 |
| Kari A. Koob | SVP, Controller | 10-K, 2026-03-04 |
| Executive Vice President and Chief Operating Officer at Alerus | EVP and COO | 4, 2026-03-02 |
| Jim Collins | EVP, CBO & CRO | 4, 2026-03-02 |
| | Director | 10-K, 2026-03-04 |
| Galen G. Vetter | Director | 10-K, 2026-03-04 |
| Janet O. Estep | Director | 10-K, 2026-03-04 |
| Jeffrey Bolton | Director | 10-K, 2026-03-04 |
| John Uribe | Director | 10-K, 2026-03-04 |
| Mary E. Zimmer | Director | 10-K, 2026-03-04 |
| Nikki L. Sorum | Director | 10-K, 2026-03-04 |
What Alerus Financial Corp does
Alerus Financial Corporation (the “Company”) is a diversified financial services company headquartered in Grand Forks, North Dakota. Through the Company’s subsidiary, Alerus Financial, National Association (the “Bank”), the Company provides innovative and comprehensive financial solutions to businesses and consumers through three distinct business segments—banking, retirement and benefit services, and wealth. In prior periods, the Company had a fourth operating segment, mortgage.
Item 1. Business, 10-K for the year ending December 31, 2025
Shares and governance
| Shares outstanding | 24.7 million (as of October 31, 2026) | 10-Q, November 5, 2026 |
|---|---|---|
| Public float | $528M (as of June 30, 2025) | 10-K, March 4, 2026 |
| Reportable segments | 3 (period ending September 30, 2026) | 10-Q, November 5, 2026 |
| Latest proxy statement | Meeting May 14, 2026 (filed April 1, 2026) | DEF 14A, April 1, 2026 |
| Auditor | Rsm Us LLP (Des Moines, Iowa) | Latest 10-K |
Insider trades
Open-market buys and sales by officers and directors, from Forms 4 and 5. One row per filing.
| Date | Insider | Trade | Shares | Value | Source |
|---|---|---|---|---|---|
| September 14, 2026 | Kari Koob SVP, Controller | Sale | 597 | $20K | Form 4, September 15, 2026 |
| September 1, 2026 | Jeffrey Bolton Director | Buy | 1,000 | $32K | Form 4, September 2, 2026 |
| May 27, 2026 | Jeffrey Bolton Director | Buy | 1,000 | $29K | Form 4, May 29, 2026 |
| July 31, 2025 | Alan Villalon EVP & Chief Financial Officer | Buy | 2,350 | $50K | Form 4, August 4, 2025 |
Recent 8-K events
- 8-K filed 2026-10-28
- Item 2.02 Results of operations and financial condition (earnings release)
- Item 7.01 Regulation FD disclosure
- 8-K filed 2026-08-27
- Item 8.01 Other events
- 8-K filed 2026-07-29
- Item 2.02 Results of operations and financial condition (earnings release)
- Item 7.01 Regulation FD disclosure
- 8-K filed 2026-05-22
- Item 8.01 Other events
- 8-K filed 2026-05-19
- Item 8.01 Other events
- 8-K filed 2026-05-15
- Item 5.07 Submission of matters to a vote of security holders
- 8-K filed 2026-04-29
- Item 2.02 Results of operations and financial condition (earnings release)
- Item 7.01 Regulation FD disclosure
- 8-K filed 2026-03-31
- Item 1.01 Entry into a material definitive agreement
- Item 2.03 Creation of a direct financial obligation
- 8-K filed 2026-02-26
- Item 8.01 Other events
- 8-K filed 2026-01-28
- Item 2.02 Results of operations and financial condition (earnings release)
- Item 7.01 Regulation FD disclosure
Frequently asked questions about Alerus Financial Corp
- What does Alerus Financial Corp do?
- Alerus Financial Corp is classified by the SEC as National Commercial Banks (SIC 6021). It is based in Grand Forks, ND.
- What is Alerus Financial Corp's revenue?
- $280M for the fiscal year ending December 31, 2025, from its 10-K filed March 4, 2026.
- Is Alerus Financial Corp profitable?
- Alerus Financial Corp reported net income of $17.4M for the fiscal year ending December 31, 2025.
- How many employees does Alerus Financial Corp have?
- About 864 as of December 31, 2025, as stated in its annual report.
- Who is the CEO of Alerus Financial Corp?
- Katie A. Lorenson, Director, President and Chief Executive Officer, as named in a 10-K filed March 4, 2026.
- Who is the CFO of Alerus Financial Corp?
- Alan A. Villalon, Executive Vice President and Chief Financial Officer, as named in a 10-K filed March 4, 2026.
- Where is Alerus Financial Corp headquartered?
- Grand Forks, ND.
- What is Alerus Financial Corp's stock ticker?
- ALRS on Nasdaq.
- What industry is Alerus Financial Corp in?
- National Commercial Banks, SIC code 6021.
- What is Alerus Financial Corp's website?
- alerus.com.
- When does Alerus Financial Corp report earnings next?
- January 27, 2027. Source: estimate_8k_pattern.
- Is Alerus Financial Corp a public company?
- Yes. Alerus Financial Corp files with the SEC under CIK 0000903419 and trades as ALRS.
- Who audits Alerus Financial Corp?
- Rsm Us LLP, Des Moines, Iowa, as named in its latest annual report (10-K).
- How many shares of Alerus Financial Corp are outstanding?
- 24.7 million shares as of October 31, 2026, from its 10-Q filed November 5, 2026.
- What is Alerus Financial Corp's public float?
- $528M as of June 30, 2025, as reported on the cover of its 10-K filed March 4, 2026.
- How many business segments does Alerus Financial Corp report?
- 3 reportable segments for the period ending September 30, 2026, from its 10-Q filed November 5, 2026.
- When is Alerus Financial Corp's annual shareholder meeting?
- May 14, 2026, per its proxy statement (DEF 14A) filed April 1, 2026.
- Have Alerus Financial Corp insiders traded stock recently?
- Since July 31, 2025, officers and directors reported 1 open-market sale worth about $20K and 3 purchases worth about $111K on Forms 4 and 5. The most recent: Kari Koob (SVP, Controller) sold 597 shares on September 14, 2026.