The Art of Retirement – A Legacy of Success(Scroll right to see complete timeline)

1933

First National Bank of Grand Forks first opened its doors in Grand Forks, North Dakota.

1975

The retirement division further expanded plan administration to include Money Purchase Pension Plans.

1988

Began ESOP administration.

1997

The retirement division of First National Bank North Dakota purchased the SunGard OmniPlus Recordkeeping System, a state-of-the art integrated, multi-platform solution for retirement plan services. Existing clients were converted to the OmniPlus system for daily valuation processing.

2003

Alerus purchased Pension Solutions, Inc., a retirement planning services company located in St. Paul, Minnesota, serving customers across the country.
> $670 Million in assets
> 800 clients
> 30,200 participants
> 55 employees

2007

Alerus purchased Acclaim Benefits, Inc., the retirement record keeping and administration subsidiary of Stanton Group in Minneapolis, Minnesota.
 
 

2010

Total assets:$6 billion

Number of plans:1,926

Number of participants:140,152

ARS employees:105

1879

Founded as the Bank of Grand Forks, the second bank chartered in the Dakota Territory.

1944

The retirement division of First National Bank of Grand Forks began providing profit sharing plan administration for plans sponsored by clients of the bank.

1986

With newly passed legislation introducing 401(k) plans, the retirement plan division began offering 401(k) recordkeeping services to existing clients. With increased sales opportunities in the retirement plan area, a sales force was added to grow the division. Software was purchased to automate processing and standardize reporting.

1991

First National Bank of Grand Forks expanded into additional North Dakota cities and changed its name to First National Bank North Dakota.

2000

First National Bank North Dakota changed its name to Alerus Financial to more accurately communicate that we are a total financial services company.

2006

Alerus purchased Stanton Trust Company, a 10-year old trust company located in Minneapolis, Minnesota, with roots tracing back to 1919.
> $2.0 billion in assets
> 300 clients
> 10 employees

2009

Alerus purchased the retirement plan practice of Eide Bailly in Minneapolis, Minnesota, with clients located in the 5-state footprint including North and South Dakota, Iowa, Wisconsin, and Minnesota.