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Alerus Financial, National Association
Grand Forks, ND · FDIC Certificate #3931 · Chartered 09/3
Total assets
$5.28B
Total deposits
$4.24B
Total equity
$580.39M
Net loans
$4.01B
Branches (offices)
26
Net income (YTD)
$46.73M
Rank: #281 of 4,213 U.S. banks by assets · #4 of 60 in North Dakota. Assets changed -0.7% and deposits -3.2% over the year to June 30, 2026.
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Key ratios
| Return on assets (YTD, annualized by FDIC) | 1.78% |
| Return on equity | 16.35% |
| Net interest margin (YTD) | 3.89% |
| Equity to assets | 11.00% |
| Tier 1 leverage ratio | 9.26% |
| Uninsured deposits (share of deposits) | 35.1% |
| Noncurrent loans (share of loans) | 0.26% |
| Net charge-offs (share of loans) | 0.47% |
| Loans to deposits | 94.7% |
| Real estate loans (share of loans) | 79.8% |
Loan mix
| Category | Amount | Share | |
|---|---|---|---|
| Real estate loans | $3.20B | 79.8% | |
| Commercial & industrial | $662.20M | 16.5% | |
| Consumer / individual | $44.18M | 1.1% | |
| Construction & development | $111.05M | 2.8% | |
| Agricultural | $53.37M | 1.3% |
Five-year trend (June snapshots)
| Period | Total assets | Deposits | Net income (year to date) | Equity / net worth |
|---|---|---|---|---|
| Jun 2022 | $3.29B | $2.70B | $22.09M | $294.17M |
| Jun 2023 | $3.83B | $2.93B | $19.59M | $346.07M |
| Jun 2024 | $4.34B | $3.37B | $15.32M | $357.17M |
| Jun 2025 | $5.31B | $4.38B | $36.16M | $537.76M |
| Jun 2026 | $5.28B | $4.24B | $46.73M | $580.39M |
Where its branch deposits sit (FDIC Summary of Deposits)
| State | Branch deposits | Offices |
|---|---|---|
| Minnesota | $2.68B | 16 |
| North Dakota | $1.19B | 6 |
| Arizona | $252.44M | 2 |
| Wisconsin | $76.95M | 1 |
| Iowa | $39.22M | 1 |
Branch deposits are booked at the office that holds them, which is not always where the customer lives. Total across all offices: $4.24B.
Similar-sized banks
Leader Bank, National Association ($5.28B) · Northeast Bank ($5.23B)
Source: FDIC BankFind - Call Report and institution data as of June 30, 2026; branch deposits from the FDIC Summary of Deposits (June 30, 2026). See methodology.
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