# ALERUS FINANCIAL NA
GRAND FORKS, ND · FDIC certificate 3931 · asset band $1-10B · latest filing 2026-06 · live

**Verdict on the desk:** this could be *ordinary*. Composite score 1 (one point per flag, capital below 5% counted twice; 7 or more is where departures cluster).

## What the filing shows (filed dollars, derived ratios; band percentiles in parentheses)

| Measure | Value | Band median |
|---|---|---|
| Total assets | $5.28B | |
| Deposits | $4.24B | |
| Loans and leases | $4.06B | |
| Total equity | $580.4M | |
| Loans / deposits | 94.66% (p73 of band) | 87.10% |
| Liquid assets / assets | 16.79% (p31 of band) | |
| Uninsured deposits / deposits | 35.07% (p61 of band) | 30.76% |
| Brokered deposits | 0.16% | |
| Wholesale funding | 6.70% (p53 of band) | |
| FHLB advances / assets | 6.54% | |
| Tier 1 leverage | 9.26% (p18 of band) | 10.50% |
| Unrealized securities loss / equity | -6.07% (p58 of band) | -7.75% |
| AOCI / equity | -0.49% (p36 of band) | |
| ROA (annualized) | 1.78% (p81 of band) | 1.26% |
| Net interest margin | 3.89% (p62 of band) | 3.70% |
| Efficiency ratio | 61.42% (p58 of band) | |
| Noncurrent loans | 0.26% (p29 of band) | 0.51% |
| Net charge-offs (annualized) | 0.37% (p92 of band) | |
| Reserve coverage of noncurrent | 452.01% | |
| Real estate % of loans | 79% | |
| Construction % of loans | 19.13% (p16 of band) | |
| Auto loans | $5.5M (0.14% of loans; DQ 0.87%, NCO 0.00%) | |
| Loans to nondepository financials | $30.2M (5% of equity) (p83 of band) | |
| Deposits YoY | -3.2% | |
| Employees | 886 | |

## Flags firing in the latest filing

- **charge-offs p90** (`aq_nco`)

## Warning timeline

| Quarter | Score | Flags that first fired | Flags that cleared |
|---|---|---|---|
| 2011-03 | 1 | reserve under noncurrent |  |
| 2011-06 | 1 |  |  |
| 2011-09 | 1 |  |  |
| 2011-12 | 1 |  |  |
| 2012-03 | 0 |  | reserve under noncurrent |
| 2012-06 | 0 |  |  |
| 2012-09 | 0 |  |  |
| 2012-12 | 0 |  |  |
| 2013-03 | 0 |  |  |
| 2013-06 | 0 |  |  |
| 2013-09 | 0 |  |  |
| 2013-12 | 0 |  |  |
| 2014-03 | 0 |  |  |
| 2014-06 | 0 |  |  |
| 2014-09 | 1 | capital falling |  |
| 2014-12 | 1 |  |  |
| 2015-03 | 0 |  | capital falling |
| 2015-06 | 0 |  |  |
| 2015-09 | 1 | charge-offs p90 |  |
| 2015-12 | 1 |  |  |
| 2016-03 | 0 |  | charge-offs p90 |
| 2016-06 | 0 |  |  |
| 2016-09 | 1 | expense ratio p90 |  |
| 2016-12 | 0 |  | expense ratio p90 |
| 2017-03 | 1 | capital falling |  |
| 2017-06 | 0 |  | capital falling |
| 2017-09 | 0 |  |  |
| 2017-12 | 0 |  |  |
| 2018-03 | 0 |  |  |
| 2018-06 | 2 | capital falling, charge-offs p90 |  |
| 2018-09 | 0 |  | capital falling, charge-offs p90 |
| 2018-12 | 2 | uninsured deposits >50%, run vulnerability |  |
| 2019-03 | 3 | charge-offs p90 |  |
| 2019-06 | 3 |  |  |
| 2019-09 | 3 |  |  |
| 2019-12 | 3 |  |  |
| 2020-03 | 2 | capital falling | run vulnerability, charge-offs p90 |
| 2020-06 | 2 |  |  |
| 2020-09 | 1 |  | capital falling |
| 2020-12 | 1 |  |  |
| 2021-03 | 1 |  |  |
| 2021-06 | 1 |  |  |
| 2021-09 | 1 |  |  |
| 2021-12 | 1 |  |  |
| 2022-03 | 1 |  |  |
| 2022-06 | 3 | AOCI drag >20% of equity, securities losses >30% of equity |  |
| 2022-09 | 3 |  |  |
| 2022-12 | 3 |  |  |
| 2023-03 | 3 | capital falling, uninsured deposits leaving | uninsured deposits >50%, AOCI drag >20% of equity |
| 2023-06 | 2 |  | capital falling |
| 2023-09 | 2 |  |  |
| 2023-12 | 2 |  |  |
| 2024-03 | 3 | capital falling, NIM <2.5% | uninsured deposits leaving |
| 2024-06 | 3 |  |  |
| 2024-09 | 5 | noncurrent p90, reserve under noncurrent |  |
| 2024-12 | 1 |  | securities losses >30% of equity, NIM <2.5%, noncurrent p90, reserve under noncurrent |
| 2025-03 | 0 |  | capital falling |
| 2025-06 | 0 |  |  |
| 2025-09 | 0 |  |  |
| 2025-12 | 2 | capital falling, reserve under noncurrent |  |
| 2026-03 | 2 | charge-offs p90 | capital falling |
| 2026-06 | 1 |  | reserve under noncurrent |

## In the news (Google News, unfiltered, newest first; check the city)

- 2023-01-03 [Alerus Financial Corporation to Announce Fourth Quarter and Full-Year 2022 Financial Results on Wednesday, January 25 - Business Wire](https://news.google.com/rss/articles/CBMigwJBVV95cUxQY2xCaXIyRFM2UVg0VG5rQ3RNV0g3MWsxd25xR3Y5NnMyTW04YnBleWt6TDZna3YzSEVVVzRVbjd2aVRQbndoM2FiSGhsY2hqN3Y4SjYya3Z4TlBCbWxRdVZmLUtxY0xRVWNCY2ZicEFfVkM1SGhUWG1IekNFZk5RMm4tc2tQTGJTd3RCUjFvS1gtanh3NHJzV1Bla0pWUTVDZWsyOGtWMmRIaGRLV2lhWFJqT3hEM0JKLTVoVVJPbUxSOEVSUnR2QkhCeVRjOWhCaGJ2X2ZaZmhLZU9aOHJqREVHVHhRMkJ3Sm5Ea2hEdnhiZGFQX3pTU3hnZ1JLaHlCcXhB?oc=5) · Business Wire
- 2015-09-22 [Beacon Bank to be acquired by Alerus Financial - BusinessNorth](https://news.google.com/rss/articles/CBMi2AFBVV95cUxQU0hXU21VV180RGhGM1hPdU1kZzBIWEs0Zk01OEFoS2xOdUJwQ2dOdDdySjAwMmZhN2RSYjJfQnlWS01PVVA5Q0JEMzBNTV9PYWVMVXUydU1VRUNiMHd3UWtvYmNoSWtWTHNzc1BXcXROVDRsTDVzZ0dXSHlKcnpjbUZsV2Y2clZBYU1Td3ZZbDBnNFYzRWRjb3dwTmRQLWRrTWsweWpsVGdVTGIwY3BaeTVfczdmUGFfRjU2V1p5WlVVUVJTTEh4MXBVMnZXb19XY0d5eUJWZUk?oc=5) · BusinessNorth
- 2021-09-20 [Alerus names Katie Lorenson as next president, CEO - Finance & Commerce](https://news.google.com/rss/articles/CBMikAFBVV95cUxNMDNqcW1zMkNTbDVKaTZrbkROYXNHbHpld3VyNVVyRDB4ekFlMms4QUZoN3hOQkJlODh3a3ZFRTRtTlhqTWZibnRqQzVheG0zUzU3SWV2S0VqRnhXaHV0d0g4M3lJV2d5MUlOdkdfZVlJVHZTSF96OEJXV3lrQXEzUHBCemVrVG9wY1c0d1FKR28?oc=5) · Finance &amp; Commerce
- 2023-08-29 [$68.96M in capital secured for a Minnesota multi-housing development community - JLL](https://news.google.com/rss/articles/CBMikwFBVV95cUxOOU03Q09KVkwwLUZtQ0JiU1BpWUlCckl0cm9jLVFnV3RIY0RhWFF2OGZZLTRBazM2cFk3bE5UTE1IMWFmNjd1b0F4YlI1OVdLc2M5SXZHUmhfSUYxM1FWa2ppV2JwMjNmdGtjcGhpbXNwN1ZPVlJDNnZsN1lCanRQU3BFMFhYUUJwaXFYd0prYXJUQ0U?oc=5) · JLL
- 2026-01-05 [Alerus Scores New Tool in ERISA Suit After SCOTUS Cornell Case - Bloomberg Law News](https://news.google.com/rss/articles/CBMirwFBVV95cUxObHdyU09YUmdKWDhqNE9JVXpSZGJRZDA1NjN1NEJON2RKLTZJMkdHS3lMdWVsV0NFeEtoWWdva0Zrb1dERW12Tjk5eDZ5a0QyeEZLdjA2dE5WYkJDS25vbWVFRDJyZi1lM18wb2dlM1dnazFjZmRPeW1xUFZDQXZqZ0w1YjhaSDlPOGFQUGhYTGVqM1cyMG5PSHB3SnNxWkFIZlJwQWNidlJqcGt4NVZR?oc=5) · Bloomberg Law News
- 2024-09-27 [ALERUS FINANCIAL CORPORATION AND HMN FINANCIAL, INC. RECEIVE STOCKHOLDER AND REGULATORY APPROVAL TO PROCEED WITH MERGER - The Manila Times](https://news.google.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?oc=5) · The Manila Times
- 2017-05-03 [Apple Pay Launches for HSBC Australia and 20+ U.S. Banks - MacRumors](https://news.google.com/rss/articles/CBMieEFVX3lxTE1QUTF6Y1l4RjBKOVNrMTVxQU5MZkhfWWtGWEtYMGhqOEY5dlVqdUZTWXljSVZQR2JNVEJoa0xHRWtxOGVoRzZLb3lTRlpGRm1wa0swTkN2c1NfQkRIVmczZDRFMVgyZURKcTd6b3psQkNzVXdweU5pbw?oc=5) · MacRumors
- 2026-02-12 [ERISA Defendants See Unexpected Boost From High Court Worker Win - Bloomberg Law News](https://news.google.com/rss/articles/CBMitAFBVV95cUxPellkTmp1Q2ZlbFNhZThxVk44bk9Ha1hJN1VKZThrNnFCSEczVVZndGFqU1dzOXVZUFczTEVsREN4amd3N3UyR25WMGdZQWwyeVlHN2p3MXEtSVVCVUZBOU4zYzlUblNCdGtwUWFCN01jMkNCN1hpMmhaYUw2Q2R3cUFZYlVvREVsSXp1WEwwU2pHVERYSzVENlBLeXV3RDdnZE00LW5KYjNQS1FPVDZqVDBma3c?oc=5) · Bloomberg Law News

## How to verify

- Page: https://getbookiq.com/bank-desk/#bank=3931 (click any number for its formula and FFIEC field codes)
- Latest row, JSON: https://getbookiq.com/bank-desk/data/summary.json · history: https://getbookiq.com/bank-desk/data/h/27.json (key "3931", columns cycle, ASSET, DEP, LNLSGR, EQTOT, ltd, liquid_pct, unins_pct, lev, aoci_pct_eq, sec_loss_eq, roa, nim, eff, nc_pct, nco_pct, LNAUTO, auto_dq, auto_nco, LNNDEPD, ndfi_eq, wholesale_pct, dep_yoy, score, flags)
- Field definitions: https://getbookiq.com/dictionary/#bank-LNNDEPD and the rest of the bank dictionary
- Source: FDIC call report via BankFind, dollars in thousands as filed. Departed means stopped filing, which is usually a merger; FAILED is the FDIC's own list.

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Rendered 2026-09-10 from the desks' own data files. Full guide: https://getbookiq.com/guide