Alerus Financial, National Association (FDIC certificate #3931) is based in Grand Forks, North Dakota. Its Q2 2026 call report shows $5.3B in total assets and $4.2B in deposits and 26 offices across 5 states.
Based on its Q2 2026 filing, Alerus Financial, National Association scores 70/100, which we describe as strong. That is higher than 58% of 897 banks with $1 billion – $10 billion. Among 60 banks headquartered in North Dakota, it ranks 32nd. Its strongest component is problem-loan coverage (94/100; 3.2%), and its lowest is funding & liquidity (43/100; 95% loans-to-deposits, 35% uninsured).
TellerScore · Q2 2026
Scorecard
The TellerScore is our own summary of the figures this institution reports publicly; it is not issued or endorsed by any government agency. It is not a prediction, and deposits within insurance limits are protected either way.
9 quarters
Health trend
From Q2 2025 to Q2 2026, the score rose 11 points (59 → 70), mostly because the loan quality component improved by 30 points.
Show as table
| Quarter | TellerScore |
|---|---|
| Q2 2024 | 62 |
| Q3 2024 | 48 |
| Q4 2024 | 50 |
| Q1 2025 | 56 |
| Q2 2025 | 59 |
| Q3 2025 | 56 |
| Q4 2025 | 45 |
| Q1 2026 | 61 |
| Q2 2026 | 70 |
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| Quarter | Tier 1 leverage ratio |
|---|---|
| Q2 2024 | 9.05% |
| Q3 2024 | 8.90% |
| Q4 2024 | 8.69% |
| Q1 2025 | 9.06% |
| Q2 2025 | 9.34% |
| Q3 2025 | 9.31% |
| Q4 2025 | 8.62% |
| Q1 2026 | 9.11% |
| Q2 2026 | 9.26% |
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| Quarter | Noncurrent loans |
|---|---|
| Q2 2024 | 0.21% |
| Q3 2024 | 1.58% |
| Q4 2024 | 1.31% |
| Q1 2025 | 1.16% |
| Q2 2025 | 1.16% |
| Q3 2025 | 1.45% |
| Q4 2025 | 1.63% |
| Q1 2026 | 1.32% |
| Q2 2026 | 0.26% |
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| Quarter | Return on assets |
|---|---|
| Q2 2024 | 0.73% |
| Q3 2024 | 0.74% |
| Q4 2024 | 0.67% |
| Q1 2025 | 1.09% |
| Q2 2025 | 1.37% |
| Q3 2025 | 1.36% |
| Q4 2025 | 0.42% |
| Q1 2026 | 1.81% |
| Q2 2026 | 1.78% |
| Quarter | Score | Assets | Capital | Problem loans | ROA | Loans/deposits |
|---|---|---|---|---|---|---|
| Q2 2026 | 70 | $5.3B | 9.26% | 0.26% | 1.78% | 94.7% |
| Q1 2026 | 61 | $5.3B | 9.11% | 1.32% | 1.81% | 91.2% |
| Q4 2025 | 45 | $5.2B | 8.62% | 1.63% | 0.42% | 94.5% |
| Q3 2025 | 56 | $5.3B | 9.31% | 1.45% | 1.36% | 91.0% |
| Q2 2025 | 59 | $5.3B | 9.34% | 1.16% | 1.37% | 92.5% |
| Q1 2025 | 56 | $5.3B | 9.06% | 1.16% | 1.09% | 89.1% |
| Q4 2024 | 50 | $5.3B | 8.69% | 1.31% | 0.67% | 89.2% |
| Q3 2024 | 48 | $4.1B | 8.90% | 1.58% | 0.74% | 88.7% |
| Q2 2024 | 62 | $4.3B | 9.05% | 0.21% | 0.73% | 86.6% |
897 peers · $1 billion – $10 billion
How it compares with peers
Percentile against banks of similar size nationwide (100th = best among peers; for ratios where lower is better, the scale is flipped).
Similar-size banks in North Dakota
| Institution | Score | Assets | Capital | Problem loans | Compare |
|---|---|---|---|---|---|
| First International Bank & TrustBank Watford City, ND | 52 out of 100, Below average | $6.2B | 9.1% | 1.54% | vs |
| Choice Financial GroupBank Fargo, ND | 73 out of 100, Strong | $6.4B | 10.8% | 0.68% | vs |
| Gate City BankBank Fargo, ND | 65 out of 100, Moderate | $4.0B | 9.8% | 0.69% | vs |
| Bravera BankBank Dickinson, ND | 67 out of 100, Moderate | $3.8B | 9.7% | 0.90% | vs |
| Western State BankBank Devils Lake, ND | 78 out of 100, Strong | $2.5B | 13.2% | 0.90% | vs |
| First Western Bank & TrustBank Minot, ND | 55 out of 100, Moderate | $2.4B | 9.6% | 1.42% | vs |
Deposit insurance
Is my money safe at Alerus Financial, National Association?
Yes. Alerus Financial, National Association is an FDIC-insured institution (FDIC certificate #3931). Deposits are insured up to $250,000 per depositor, per insured bank, for each account ownership category.
An estimated 35.1% of deposits ($1.5B) are above the $250,000 FDIC insurance limit, above the peer median of 31%. Insured balances are protected regardless of the score.
The tier 1 leverage ratio is 9.26%, above the 5% level regulators use as the "well capitalized" benchmark for this measure. Its total risk-based capital ratio is 12.11% (benchmark: 10%).
26 locations
Branches
Alerus Financial, National Association lists 24 offices in 19 cities across 5 states. Most locations:
- Grand Forks, ND (3)
- Rochester, MN (3)
- Fargo, ND (2)
- Albert Lea, MN (1)
- Austin, MN (1)
- Eagan, MN (1)
- Eden Prairie, MN (1)
- Excelsior, MN (1)
- La Crescent, MN (1)
- Marshalltown, IA (1)
- Minnetonka, MN (1)
- Northwood, ND (1)
HMDA 2025
Mortgage lending
In 2025, Alerus Financial, National Association reported 2,762 home-loan applications under HMDA (LEI 549300C4J510S9L1RF98): 2,118 originated ($758,110,000 total), 248 denied, and 306 withdrawn or closed by the applicant. Its denial rate on decided applications was 10.1%, compared with 22.2% for all lenders nationwide.
Denial rates depend heavily on loan type and applicant mix and are not a measure of fairness or of your own odds.
Identity & history
Profile
- Legal name
- Alerus Financial, National Association
- Former names
- First National Bank in Grand Forks; First National Bank North Dakota
- Type
- National bank
- FDIC certificate #
- 3931
- RSSD ID
- 933256
- Primary regulator
- OCC
- Holding company
- Alerus Financial Corp
- Established
- September 30, 1933
- Headquarters
- 401 Demers Ave, Grand Forks, ND 58201
- Website
- www.alerus.com
- Employees
- 886
Quick answers
Alerus Financial, National Association: common questions
Is Alerus Financial, National Association FDIC insured?
Yes. Alerus Financial, National Association is an FDIC-insured institution (FDIC certificate #3931). Deposits are insured up to $250,000 per depositor, per insured bank, for each account ownership category.
What is Alerus Financial, National Association's TellerScore?
70 out of 100 (Strong), based on its Q2 2026 publicly reported figures. The TellerScore is our own summary and is not issued by any government agency.
Has Alerus Financial, National Association ever failed?
There is no failure record for FDIC certificate #3931 in the FDIC failed bank list.
How many branches does Alerus Financial, National Association have?
26 offices as of the latest FDIC data, in 5 states.
Nearby
Highest-scoring banks and credit unions with branches near Grand Forks
| Institution | Score | Assets | Capital | Problem loans | Compare |
|---|---|---|---|---|---|
| University Federal Credit UnionCredit union Grand Forks, ND | 91 out of 100, Very strong | $46.1M | 14.4% | 0.72% | vs |
| Med Park Credit UnionCredit union Grand Forks, ND | 86 out of 100, Very strong | $18.1M | 16.5% | 0.04% | vs |
| Northern Valley Federal Credit UnionCredit union Grand Forks, ND | 84 out of 100, Strong | $20.3M | 13.3% | 0.04% | vs |
| Riverfork Federal Credit UnionCredit union Grand Forks, ND | 78 out of 100, Strong | $31.2M | 13.9% | 0.70% | vs |
| Northern Sts Pwr Company Emp Federal Credit UnionCredit union Grand Forks, ND | 77 out of 100, Strong | $1.5M | 10.8% | 0.00% | vs |
| First State BankBank Buxton, ND | 75 out of 100, Strong | $424.2M | 9.8% | 0.00% | vs |