When Alerus looks back on its company history, 2019 will stand out as a big one. Not only did it launch a new financial wellness initiative through innovative technology and skilled advisors, Alerus completed its initial public offering (IPO) and began trading on NASDAQ in mid-September. The IPO makes Alerus the first and only publicly traded company headquartered in Grand Forks, N.D.
“This is an exciting time for our company. We have strong roots in the region and our employees take great pride in how we serve clients, focusing on holistic financial solutions with a relationship emphasis,” Chairman, President and CEO Randy Newman said. “The IPO was one of the most important decisions our company has ever made, and positions us in excellent financial condition to pursue our strategic plan to grow the Alerus franchise and continue to serve our clients holistically.”
Deep roots
Alerus, an Emerald-level member of the EDC, is a unique company with a long history. With roots back to 1879, its board of directors made the strategic decision to change the company’s name to Alerus Financial in 2000. With Latin origins expressing “to take flight,” the Alerus Financial name aligned with the board’s vision for the company, reflecting its evolution from a traditional bank to a total financial services company.
Since the name change, Alerus Financial has tripled in size, added comprehensive mortgage and retirement services, and expanded two major markets outside of North Dakota.
‘A promising time’
Today, Alerus continues to evolve and is focused on helping clients answer the challenges of financial stress. “September was a significant month for our company. In addition to going public, we also introduced My Alerus to our consumer clients,” said Chris Wolf, Northern Valley Market President. My Alerus is a digital, personalized hub where clients can make better decisions by tracking and improving their financial wellness.
“It’s truly a promising time for our company and our clients,” Wolf added. “Both the IPO and our financial wellness initiatives enable Alerus Financial to continue doing what we do best – fulfilling the divergent financial needs of our clients.”
