Alerus Financial
Alerus Financial Corporation is a multibillion-dollar financial services company headquartered in Grand Forks, North Dakota, offering a wide range of banking and financial products to individuals, families, and businesses across the United States. Its services are organized into four main segments: Banking, Retirement and Benefit Services, Wealth Management, and Mortgage. Alerus provides a variety of deposit products, including checking and savings accounts, as well as treasury management services. The company also offers commercial lending options such as business loans and real estate financing, alongside consumer lending products like residential mortgages. In addition, Alerus specializes in retirement plan administration, investment advisory services, and wealth management, which encompasses financial planning and trust services. The company is committed to helping customers achieve their financial goals through accessible online and mobile banking solutions, as well as personalized support from knowledgeable staff. Founded in 1879 and originally known as First National Bank North Dakota, Alerus Financial rebranded in 2000 to reflect its expanded services.
HMN Financial
Acquisition in 2024
HMN Financial, Inc. is a bank holding company that owns Home Federal Savings Bank, which provides a range of retail banking products and services primarily in Minnesota and Iowa. The bank offers various deposit accounts, including savings, checking, and money market accounts, as well as certificates of deposit. Its loan offerings encompass single-family residential loans, commercial real estate and multi-family mortgages, construction loans, and consumer loans such as home equity and automobile loans. Additionally, the bank provides commercial business loans and financial planning services through its subsidiary, Osterud Insurance Agency, Inc. The company also invests in mortgage-backed securities, U.S. government agency obligations, and other permissible investments. As of April 2020, HMN Financial operated twelve full-service offices in Minnesota, one in Marshalltown, Iowa, and one in Pewaukee, Wisconsin, with a loan origination office located in Sartell, Minnesota. Founded in 1934, HMN Financial is headquartered in Rochester, Minnesota.
Metro Phoenix Bank
Acquisition in 2022
Through its sincere customer service, practical market knowledge and entrepreneurial spirit, Metro Phoenix Bank strives to become one of Phoenix’s premier providers of consistent, predictable and meaningful commercial bank services, thus maximizing returns for all stakeholders.
RPS Plan Administrators
Acquisition in 2020
RPS Plan Administrators specializes in the design and administration of qualified 401(k), retirement plans, and cafeteria plans. We are dedicated to setting the standard for professional, accurate, and timely service, and to equipping our clients with access to the most advanced plan administration technologies available.
Beacon Bank
Acquisition in 2015
Beacon Bank was a state-chartered commercial bank that served its local community for over a century, providing a range of banking services. It offered both personal and business banking solutions, including savings accounts, certificates of deposit, loans, and online banking. The bank operated branches in Shorewood, Excelsior, Eden Prairie, and Duluth. In 2016, Beacon Bank was acquired by Alerus Financial, a North Dakota-based financial services company, marking the conclusion of its independent operations and the transition of its assets and customer base to Alerus as part of its expansion into Minnesota.
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