Alerus Financial Set to Expand Through HMN Merger

Alerus Financial ( (ALRS) ) has shared an update.

Alerus Financial Corporation and HMN Financial, Inc. have received all necessary regulatory and stockholder approvals to proceed with their merger, anticipated to close in the fourth quarter of 2024. The merger will see Alerus significantly expand its footprint with the addition of 12 Home Federal branches across Minnesota, one in Iowa, and one in Wisconsin. Upon completion, Alerus will grow to approximately $5.5 billion in total assets and 29 branches, enhancing its financial services offerings for clients. Management from both companies express enthusiasm for the merger, citing shared values and a commitment to customer service as key reasons for the integration.

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