Alerus Financial Corporation
Annual Report 2024

Plain-text annual report

2024 ANNUAL REPORT e x p a n d i n g forward The historic partnership with HMN Financial Inc. in 2024 brought together two organizations with deep roots in the communities they serve. It is the largest acquisition in our company’s history, encompassing $1 billion of loans and deposits, more than 100 new team members, and approximately 55,000 clients across 14 locations in three states. Shareholder approval in September 2024 followed by prompt regulatory approval enabled the acquisition to close in October. Client transitions were completed in December. Working Together to Grow The front cover features photos *!
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