Our roots trace back as far as 1879 to the Bank of Grand Forks, the second bank chartered in the Dakota Territory. First National Bank in Grand Forks opened in October of 1933, making us one of the oldest and largest independent banking operations in North Dakota.
ALERUS FINANCIAL HISTORY
We are very proud of our heritage. The strength and traditions of our past provided the confidence to transform our company to better meet our customers' needs and to bring new customers into the fold. Although our roots run deep in the Red River Valley and North Dakota, we’ve expanded to serve customers on a national and international scale.
Once an accurate description of who we are and what we do, the word “bank” only partially defines our capabilities. We are no longer a traditional bank limited to traditional banking services. Our success in non-traditional banking areas such as brokerage services, investments, and wealth management has made us a fully diversified financial services company, a total financial resource center.
In 2000 we unveiled our new name—First National Corporation North Dakota became Alerus Financial Corporation, First National Bank became Alerus Financial, and FNB Securities Corporation became Alerus Securities.
The root of Alerus means to give wings or take flight. The name Alerus Financial perfectly captures the evolution of our organization and everything we do to help our customers.
A strong customer focus is the core value of our organization; it is what sets us apart. Our relationship manager concept is centered around the relationship-style of doing business. We offer complete financial management with one direct contact, a relationship manager. This direct contact saves customers time by reducing paperwork and repetitive communication between financial specialist. A relationship manager works closely with their customers to understand their entire financial situation and then pulls in product specialists when needed. Not only do relationship managers team up with Alerus Financial investment, retirement planning, and trust specialists, to name a few, but they will also contact and work with customers’ attorneys, accounts, and other key financial advisors. Our enhanced service-oriented approach to meeting all our customers’ financial needs better positions us to make or save our customers money and simplify their lives.
1879 Our roots trace back to the Bank of Grand Forks, the second bank chartered in the Dakota Territory.
1881 Bank of Grand Forks changes its name to Citizens National Bank of Grand Forks.
1890 The Citizens National Bank of Grand Forks acquires First National Bank and assumes its name, becoming First National Bank of Grand Forks.
1919 First National Bank is one of five banks invited to Minneapolis to sign the Articles of Incorporation for the Federal Reserve Bank in Minneapolis.
1933 The old bank fails. The new, reincorporated bank officially becomes First National Bank in Grand Forks on October 3, 1933.
1983 The Banking Holding Company is formed and becomes First National Corporation.
1984 Employee Stock Ownership Plan is created.
1985 First National Bank in Grand Forks acquires Northwood State Bank.
1987 First National Bank in Grand Forks acquires West Fargo State Bank.
1989 First National Bank in Grand Forks acquires the failed Dakota Bank in Grand Forks.
1991 Federal Savings and Loan, Fargo, ND, is purchased; the banking entities become First National Bank North Dakota.
1993 During a privatization transaction, the Bank Holding Company reincorporates in Delaware and becomes First National Corporation North Dakota.
1994 FNB Securities is created.
1998 First National Bank North Dakota acquires Botsford and Rice Property Management Company.
1999 First National Bank North Dakota acquires Braaten and Qualey Property Management Company.
2000 First National Bank North Dakota changes its name to Alerus Financial.
2001 The Alerus Center opens. For the next 20 years this state-of-the-art entertainment venue will bear the name Alerus Center.
2002 Alerus Financial acquires BNC National Bank branch in Fargo.
2003 Alerus Financial acquires Pension Solutions, Inc., a retirement plan services company based out of St. Paul, MN.
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