Bank · FDIC insured
Alerus Financial
A $5.3B bank, the 277th largest of 4,207, headquartered in Grand Forks, ND, with 26 branches in 5 states.
Rates
No Carrot Score yet: it needs scores for at least two of CDs, savings, auto loans and credit cards. CDs: published rates need another account or activity, so they are not scored. Savings: carrot has not captured enough rates to score this yet. Auto loans: no rates found on its website. Credit cards: no rates found on its website.
- CDs—4.10%Needs another account or monthly activityCD rates →
Deposits are federally insured by the FDIC up to $250,000 per depositor.
About Alerus Financial
Founded as a lender in the Dakota Territory, Alerus is a publicly traded company on Nasdaq whose employees are among its largest combined shareholders.
Alerus operates as a commercial wealth bank and national retirement services provider, offering banking, wealth services, and retirement and benefits solutions.
- Headquarters
- 401 Demers Ave, Grand Forks, ND 58201
- FDIC certificate
- 3931 ↗
Branches
26 branches in 5 states
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Minnesota
15 branches
Minneapolis area · 6
- New Eagan Branch1515 Central Pkwy, Eagan, MN 55121Directions
- Beacon Bank, Eden Prairie Office7890 Mitchell Rd, Eden Prairie, MN 55344Directions
- Excelsior Branch409 2nd St, Excelsior, MN 55331Directions
- Alerus National Association Branch10900 Wayzata Boulevard, Suite 900, Minnetonka, MN 55305Directions
- Prosperan Bank Branch990 Helena Ave N, Oakdale, MN 55128Directions
- Shoreview Branch4100 Lexington Ave. N., Shoreview, MN 55126Directions
Rochester area · 5
- Kasson Branch502 S Mantorville Ave, Kasson, MN 55944Directions
- 20 Rochester - Superior Dr Branch2048 Superior Dr Nw, Rochester, MN 55901Directions
- Home Federal Savings Bank Branch1016 Civic Center Dr Nw, Rochester, MN 55901Directions
- Rochester Downtown Branch155 1st Avenue Sw, Rochester, MN 55902Directions
- 1 Spring Valley Branch715 N Broadway St, Spring Valley, MN 55975Directions
Albert Lea area · 1
- 7 Albert Lea Branch143 W Clark St, Albert Lea, MN 56007Directions
Austin area · 1
- 2 Austin Branch201 W Oakland Ave, Austin, MN 55912Directions
La Crosse area · 1
- 5 La Crescent Branch208 S Walnut St, La Crescent, MN 55947Directions
Winona area · 1
- 4 Winona Branch175 Center St, Winona, MN 55987Directions
North Dakota
7 branches
Grand Forks area · 4
- Alerus Financial, National AssociationMain office401 Demers Ave, Grand Forks, ND 58201Directions
- Grand Forks - Downtown Hugo'S Branch500 Demers Ave, Grand Forks, ND 58201Directions
- South Branch2300 S Columbia Rd, Grand Forks, ND 58201Directions
- Northwood Branch503 Washington Ave, Northwood, ND 58267Directions
Fargo area · 3
- Broadway Branch15 Broadway N, Fargo, ND 58102Directions
- Fargo Urban Plains Branch3189 Ace Allen Way S, Fargo, ND 58104Directions
- West Fargo Branch110 Sheyenne St, West Fargo, ND 58078Directions
Arizona
2 branches
- Phoenix Branch4686 E Van Buren St, Phoenix, AZ 85008Directions
- Scottsdale Road Branch17045 N Scottsdale Rd, Scottsdale, AZ 85255Directions
Iowa
1 branch
- 9 Marshalltown Branch303 W Main St, Marshalltown, IA 50158Directions
Wisconsin
1 branch
- Pewaukee Branch1870 Meadow Ln, Pewaukee, WI 53072Directions
Walk-in offices from the FDIC directory as of September 4, 2026. Directions open Google Maps. A nearby branch doesn’t mean you can join or open an account.
Financial details
| Measure | This bank | Peers’ middle | Strongest quarter |
|---|---|---|---|
| CapitalLeverage ratio | 9.26% | 10.49% | 11.89% or more |
| Troubled loansNoncurrent | 0.26% | 0.52% | 0.23% or less |
| ProfitabilityReturn on assets | 1.78% | 1.25% | 1.62% or more |
| LendingLoans per $100 deposited | $96 | $88 | — |
- CapitalLeverage ratio9.26%Peers’ middle 10.49% · Top 25% 11.89%+
- Troubled loansNoncurrent0.26%Peers’ middle 0.52% · Top 25% ≤0.23%
- ProfitabilityReturn on assets1.78%Peers’ middle 1.25% · Top 25% 1.62%+
- LendingLoans per $100 deposited$96Peers’ middle $88
Compared with the 897 banks with $1 billion to $10 billion in assets. The strongest quarter is what the best 25% of them reach: more capital and profit, fewer troubled loans. Lending has no better end.Troubled loans are noncurrent: 90 or more days late, or no longer earning interest.
Regulators’ own ratings of Alerus Financial are confidential. These figures are what it reports to the FDIC each quarter, set beside its peers; they aren’t a rating.