Alerus Financial

Overview / Commentary
401 Demers Avenue
Grand Forks, ND 58201

Alerus Financial is headquartered in Grand Forks and is the 4th largest bank in the state of North Dakota. It is also the 360th largest bank in the nation. It was established in 1933 and as of June of 2021, it had grown to 835 employees at 16 locations. Alerus Financial has an A+ health rating.

Reviews (2)

Great Bank!

Posted by: |

The friendliest and most sincere customer service and tellers. I LOVE MY BANK! They remember my name when I walk in the door. These guys take care of their customers. Highly recomended!

5 Stars? COMMON!!!

Posted by: |

Alerus was once a great bank to work with! However that was when I opened the account with a little cash $5000 or so. However when that money dwindled down they have been less than caring and look for every opportunity to nickle and dime you!

I am disgusted with there system set up to get you with every and any chance they get.

I'll be closing my account today thanks for nothing Alerus!!!


Health Grade Components

FDIC Certificate #3931
Year Established1933
Primary RegulatorOCC
Profit Margin
Return on Assets - YTD1.86%
Return on Equity - YTD18.06%
Annual Interest Income$45.9MM
Assets and Liabilities
AssetsQ2 2021vs Q2 2020$3.16B$2.87B
LoansQ2 2021vs Q2 2020$1.87B$2.11B
DepositsQ2 2021vs Q2 2020$2.79B$2.53B
Equity CapitalQ2 2021vs Q2 2020$329.3MM$293.6MM
Loan Loss AllowanceQ2 2021vs Q2 2020$33.8MM$27.3MM
Unbacked Noncurrent LoansQ2 2021vs Q2 2020$7.0MM$5.3MM
Real Estate OwnedQ2 2021vs Q2 2020$855.00K$0

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