Alerus Financial holds $5.3B in total assets and has $4.2B in deposits across 17 counties in 7 ranked markets and 5 states. Its deposit footprint is highly concentrated: the top three counties (Hennepin County, Minnesota, Cass County, North Dakota, and Grand Forks County, North Dakota) hold 72% of its deposits, and Minnesota accounts for 63% of the total. It is among the top three banks by deposits in 3 of the 17 counties where it operates. Figures are from the FDIC Summary of Deposits as of June 30, 2026, and are refreshed once a year after the next survey is released, not quarterly.
Deposits by county
Data as of June 30, 2026 (FDIC Summary of Deposits)
| County | Deposits | County’s % of Bank’s Deposits | Bank’s % of County Deposits | Branches |
|---|---|---|---|---|
| Hennepin County, MN | $1.9B | 43.8% | 1.3% | 3 |
| Cass County, ND | $611M | 14.4% | 5.4% | 2 |
| Grand Forks County, ND | $584M | 13.8% | 20.3% | 4 |
| Olmsted County, MN | $364M | 8.6% | 6.6% | 3 |
| Maricopa County, AZ | $252M | 6.0% | 0.1% | 2 |
| Waukesha County, WI | $77M | 1.8% | 0.4% | 1 |
| Freeborn County, MN | $74M | 1.8% | 9.5% | 1 |
| Washington County, MN | $72M | 1.7% | 1.0% | 1 |
| Fillmore County, MN | $65M | 1.5% | 8.0% | 1 |
| Dodge County, MN | $58M | 1.4% | 16.6% | 1 |
| Mower County, MN | $58M | 1.4% | 7.0% | 1 |
| Marshall County, IA | $39M | 0.9% | 2.8% | 1 |
| Ramsey County, MN | $36M | 0.9% | 0.1% | 1 |
| Winona County, MN | $32M | 0.8% | 2.1% | 1 |
| Houston County, MN | $28M | 0.7% | 5.1% | 1 |
| Steele County, MN | $16M | 0.4% | 1.7% | 1 |
| Dakota County, MN | $15M | 0.3% | 0.1% | 1 |
“Deposits (SOD)” are deposits as reported to the FDIC at branch level in the Summary of Deposits (SOD), June 30, 2026, and are nominal. They reflect where deposits are booked and may differ from the institution’s balance-sheet total. “County’s % of Bank’s Deposits” is this county’s share of the institution’s total SOD deposits; “Bank’s % of County Deposits” is this institution’s deposits as a percent of all deposits booked in that county. Counties within a Combined or Metropolitan Statistical Area link to their full profile; other counties are shown for completeness.
Browse all covered institutions in the bank directory or the banks headquartered in ND. All 293 markets and the 1,523 counties with a branch within a CSA or MSA are covered in the Market Intelligence resource. See the methodology for how each figure is built and when to expect updates, or the disclaimer for how this data should, and should not, be read.
Alerus Financial is named on this page solely to describe publicly reported FDIC deposit data. Its appearance does not imply any affiliation between Alerus Financial and The Executive Recruiter Group, or endorsement by either.