Alerus Financial, National Association in Grand Forks, North Dakota (ND), MN, AZ

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Alerus Financial, National Association
GeneralFDIC Certificate #: 3931
Status: Active
Federal Reserve ID: 933256
Bank Holding Company (Regulatory Top Holder): Alerus Financial Corporation (RSSDID: 2067007, Location: Grand Forks, ND)
Date Established: September 30, 1933
Trust Powers Granted: Yes
Bank Charter Class: Commercial bank, national (federal) charter and Fed member, supervised by the Office of the Comptroller of the Currency (OCC)
Offices: 16 (Domestic: 16, Interstate: Yes)
OTS Docket #: 10999
FDIC's unique #: 2563
Numeric code: 3
Regulator: OCC
Insurance Fund Membership: Deposit Insurance Fund (DIF)
Insured commercial Banks: Yes
FDIC Insured: Yes
Deposit Insurance Fund member: Yes
Ownership Type: Non-Stock
FFIEC Call Report 31 Filer: No
State Chartered: No
Subchapter S Corporations: No
Asset Concentration Hierarchy: Commercial Lending Specialization
Date of Deposit Insurance: January 01, 1934
Last Structure Change Effective Date: Febuary 01, 2012
Last Structure Change Process Date: Febuary 24, 2012
Last Data Update: Febuary 24, 2012
Data Source Date: April 05, 2012
LocationAddress: 401 Demers Avenue, Grand Forks, ND 58201
County: Grand Forks
Quarterly Banking Profile Region: Kansas City
FDIC Geographic Region: Kansas City
FDIC Supervisory Region: Kansas City
FDIC Field Office: Grand Forks
Office of the Comptroller the Currency (OCC) District: Central
Office of Thrift Supervision Region: West
Metropolitan Statistical Area (MSA): Grand Forks, ND-MN (#2985)
Core Based Statistical Area (CBSA): Grand Forks, ND-MN (#24220)
CBSA Metro Statistical Area: Grand Forks, ND-MN (#24220)
Financial SummaryTotal assets: $1,154.4 mil
Equity capital: $123.2 mil
Deposits held in domestic offices: $988.9 mil
Return on assets (ROA): 0.98% ($11.3 mil)
Quarterly return on assets: 1.13% ($13.0 mil)
Return on Equity (ROE): 10.58% ($13.0 mil)
Quarterly return on equity: 10.74% ($13.2 mil)
Net income: $11.3 mil
Quarterly Net income: $3.3 mil
Pretax return on assets: 1.47% ($16,969.1 mil)
Quarterly Pretax return on assets: 1.60% ($18,469.7 mil)

1992 - 1999 Historical total assets, liabilities and capital ($ mil)

2000 - 2011 Historical total assets, liabilities and capital ($ mil)

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Historical total employees (full-time equivalent)

Assets and Liabilities (December 31, 2011)
(Dollar figures in thousands)
Total employees (full-time equivalent)454
Total assets$1,154,358
Cash and due from depository institutions$60,663
Interest-bearing balances$35,328
Federal funds sold & reverse repurchase agreements$295
Net loans & leases$709,514
Loan loss allowance $12,826
Trading account assets$1,287
Bank premises and fixed assets$21,529
Other real estate owned$11,916
Goodwill and other intangibles$11,979
All other assets$60,601
Life insurance assets$1,154,358
Total liabilities and capital$1,031,148
Total liabilities$988,855
Total deposits$800,016
Interest-bearing deposits$988,855
Deposits held in domestic offices$67
% insured (estimated)6194.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$20,000
Other borrowed funds $2,500
Subordinated debt $13,599
All other liabilities $123,210
Total equity capital$123,210
Total bank equity capital$123,210
Perpetual preferred stock$0
Common stock$4,100
Undivided profits $87,092
Noncurrent loans and leases $0
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $48,910
Income earned, not collected on loans $13,044
Earning assets $1,361
Long-term assets (5+ years) $4,876
Average Assets, year-to-date $1,022,998
Average Assets, quarterly $322,925
Volatile liabilities $1,145,727
Insider loans $1,156,922
FHLB advances $827,262
Loans and leases held for sale $1,148,251
Unused loan commitments $24,981
Tier 1 (core) risk-based capital $18,099
Tier 2 risk-based capital $109,303
Total risk weighted assets $0
Total unused commitments $6,882
Restructured Loans and leases $248,596
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $53,085
Total interest expense $6,729
Net interest income $46,356
Provision for loan and lease losses $4,418
Total noninterest income $55,351
Fiduciary activities $35,146
Service charges on deposit accounts $1,655
Trading account gains & fees $0
Additional noninterest income $18,550
Total noninterest expense $80,393
Salaries and employee benefits $44,641
Premises and equipment expense $6,365
Additional noninterest expense $29,387
Pre-tax net operating income $16,896
Securities gains (losses) -$11
Applicable income taxes $5,616
Income before extraordinary items $11,269
Extraordinary gains - net $0
Net income attributable to bank $11,269
Net charge-offs $0
Cash dividends $11,269
Sale, conversion, retirement of capital stock, net $433
Net operating income $2,951
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets5.20%
Cost of funding earning assets 0.66%
Net interest margin 4.54%
Noninterest income to earning assets 5.42%
Noninterest expense to earning assets 7.88%
Net operating income to assets 0.98%
Return on assets (ROA) 0.98%
Pretax return on assets 1.47%
Return on equity (ROE) 10.58%
Retained earnings to average equity (YTD only) 7.81%
Net charge-offs to loans 0.06%
Credit loss provision to net charge-offs 1020.32%
Efficiency ratio49.22%
Assets per employee$77,055
Cash dividends to net income (YTD only)2.54%
Condition Ratios (%)
Loss allowance to loans 26.19%
Loss allowance to noncurrent loans 1.78%
Noncurrent assets plus other real estate owned to assets 98.33%
Noncurrent loans to loans 2.16%
Net loans and leases to deposits1.81%
Net loans and leases to core deposits 71.75%
Equity capital to assets 74.75%
Core capital (leverage) ratio 10.67%
Tier 1 risk-based capital ratio 9.52%
Total risk-based capital ratio 13.21%
Average assets$15
Average earning assets$1,145,727
Average equity $106,478
Average loans $1,020,819
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Total Fiduciary and Related Assets (December 31, 2011)
(Dollar figures in thousands)
Total fiduciary and related assets$1
Number of Fiduciary Accounts and Related Asset Accounts1
Fiduciary powers grantedYes
Fiduciary or related activityYes
Managed Assets$8,799,712
Number of Accounts1
Personal trust and agency accounts$1,242,377
Employee benefit-defined contribution accounts$143,421
Employee benefit-defined benefit accounts$139,872
Other retirement accounts$128,158
Corporate trust and agency accounts$219,925
Investment management agency accounts$0
Other fiduciary accounts$492,538
Fiduciary accounts held in foreign offices$60,389
Non-managed Assets$58,074
Number of Accounts4173
Personal trust and agency accounts$0
Employee benefit-defined contribution accounts$218,065
Employee benefit-defined benefit accounts$0
Other retirement accounts$7,557,335
Corporate trust and agency accounts$82,391
Other fiduciary accounts$7,294,833
Fiduciary accounts held in foreign offices$7,756
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2 Arizona Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
24494061Peoria Branch13373 N Plaza Del Rio Blvd, Peoria, AZ 85381May 29, 2009Full Service Brick and Mortar
29418960Scottsdale Road Branch17045 North Scottsdale Road, Scottsdale, AZ 85255May 05, 2003Full Service Brick and Mortar
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3 Minnesota Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
2156236Alerus National Association Branch10900 Wayzata Boulevard, Minnetonka, MN 55305October 03, 1994Full Service Brick and Mortar
2574649Prosperan Bank Branch990 Helena Street North, Oakdale, MN 55128April 06, 1999Full Service Brick and Mortar
26364431Maplewood Branch2520 White Bear Avenue, Maplewood, MN 55109August 08, 2002Full Service Brick and Mortar
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11 North Dakota Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
02563Alerus Financial, National Association401 Demers Avenue, Grand Forks, ND 58201September 30, 1933Full Service Brick and Mortar
440356South Branch2300 South Columbia Road, Grand Forks, ND 58201August 24, 1989Full Service Brick and Mortar
56563Northwood Branch503 Washington Ave., Northwood, ND 58267May 29, 1931Full Service Brick and Mortar
66567West Fargo Branch901 13th Avenue East, West Fargo, ND 58078July 15, 1925Full Service Brick and Mortar
7222033West Fargo Branch110 Sheyenne Street, West Fargo, ND 58078May 14, 1979Limited Service Retail
847049Broadway Branch15 Broadway, Fargo, ND 58102May 10, 1991Full Service Brick and Mortar
14202169Thirty Second Avenue Branch1750 32nd Avenue South, Grand Forks, ND 58201November 21, 1994Full Service Brick and Mortar
16202171Express Branch516 Demers Avenue, Grand Forks, ND 58201August 15, 1997Full Service Brick and Mortar
18289276Fargo Branch3137 32nd Avenue Sw, Fargo, ND 58103Febuary 15, 1999Full Service Brick and Mortar
19452511Osgood Branch4201 45th Street South, Fargo, ND 58104June 15, 2006Full Service Brick and Mortar
20452512Eagle Run Branch3342 Sheyenne Street, West Fargo, ND 58078June 15, 2006Full Service Brick and Mortar
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