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Alerus Financial Priced, Nasdaq: ALRS

Regional bank with a focus on retirement and benefit services.

Industry: Financials

Latest Trade: $22.00 0.00 (0.0%)

First Day Return: +4.8%

Return from IPO: +4.8%

Industry: Financials

We are a diversified financial services company headquartered in Grand Forks, North Dakota. Through our subsidiary, Alerus Financial, National Association, we provide innovative and comprehensive financial solutions to businesses and consumers through four distinct business lines: banking, retirement and benefit services, wealth management and mortgage. These solutions are delivered through a relationship-oriented primary point of contact along with responsive and client-friendly technology. As of June 30, 2019, we had $2.2 billion of total assets, $27.9 billion of assets under administration, or AUA, and $5.3 billion of assets under management, or AUM. Our primary banking market areas are the states of North Dakota, Minnesota, specifically, the Minneapolis-St. Paul-Bloomington metropolitan statistical area, or Twin Cities MSA, and Arizona, specifically, the Phoenix-Mesa-Scottsdale metropolitan statistical area, or Phoenix MSA. Our bank branch expansion into the Twin Cities MSA in 2007 and the Phoenix MSA in 2009 was an intentional part of our strategic plan to diversify our geographic footprint and expand into metropolitan markets outside of North Dakota. In addition to our offices located in our banking markets, our retirement and benefit services business administers plans in all 50 states through offices located in Michigan, Minnesota and New Hampshire.
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IPO News for Alerus Financial
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IPO Data
IPO File Date 08/16/2019
Offer Price $21.00
Price Range $22.00 - $24.00
Offer Shares (mm) 2.9
Deal Size ($mm) $60
Lock-Up Date IPO Pro Only
Street Research IPO Pro Only
IPO Data
IPO Date 09/13/2019
Offer Price $21.00
Price Range $22.00 - $24.00
Offer Shares (mm) 2.9
Deal Size ($mm) $60
Lock-Up Date IPO Pro Only
Street Research IPO Pro Only
Underwriters
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Company Data
Headquarters Grand Forks, ND
Founded 1879
Employees 792
Website www.alerus.com