Let's Start from the Beginning

We realize Alerus Financial may not be a household name (yet!), so we wanted to give you a glimpse of how it all began—and how far we've come. We're proud of our heritage, which serves as a touchpoint for decisions we make daily.

Our roots trace back to 1879 when S.S. Titus founded the Bank of Grand Forks in the back of a smokehouse on South Third Street in Grand Forks, N.D. The bank took out a federal charter in 1881 and became Citizens' National. Nine years later, it purchased First National Bank in Grand Forks.

Over time, while expanding geographically, we have evolved beyond traditional banking and trust services into a full financial services company. In 1986, the Bank became an ESOP company and, in 2000, we changed our name to Alerus Financial to better reflect the growing organization we are today. We acquired Pension Solutions Inc. (PSI) in June 2003, a retirement plan services company offering customized retirement plan solutions, based out of St. Paul, Minn. In the process, we added more than 800 clients with 30,000 participants to our retirement services division and 55 employees to our retirement services staff.

Alerus Financial has two main divisions—banking and wealth management. The banking division includes our retail branches, as well as our consumer, mortgage and business banking products and services. The wealth management division includes retirement plan solutions, ESOP fiduciary services, personal trust administration, asset management, investment brokerage and property management. Both divisions emphasize a high level of service, which is our primary competitive advantage.

Today, Alerus Financial has a customer base of 89,000 individuals and entities worldwide. We market our products and services throughout the upper Midwest, including our hub markets of Grand Forks and Fargo in North Dakota, as well as the Twin Cities in Minnesota. Alerus Financial is considered one of the premier providers of trust, asset management and retirement plan services in the region.

Hard work. Integrity. Wisdom. These are the values that have created a multi-billion dollar financial services firm. For more information about Alerus Financial, visit us online.

	Current Profile
	Total assets:	$6.3 billion
	Worldwide customers:	89,000
	Managed assets:	$1.5 billion
	Total retirement plans:	1,100
	Retirement assets:	$4.2 billion
	Total employees:	320
	Locations:	Grand Forks, N.D. Fargo, N.D. Minneapolis, Minn. St. Paul, Minn.

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