Alerus Financial ( (ALRS) ) just unveiled an announcement.
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Alerus Financial Corporation has successfully completed its largest acquisition by taking over HMN Financial, Inc. and its subsidiary, Home Federal Savings Bank, marking a significant expansion into the Rochester, Minnesota market. This all-stock deal, valued at around $128.8 million, has also led to HMN Financial’s former board member, Jeffrey Bolton, with extensive financial and administrative expertise, joining Alerus’ board. The acquisition brings Alerus’ assets to approximately $5.5 billion and signals a continued growth strategy, enhancing its banking, wealth, and retirement services across the Midwest and beyond.
Learn more about ALRS stock on TipRanks’ Stock Analysis page.