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Alerus Financial introduces new segment name: Alerus Agriculture

Alerus Financial has announced the launch of its new customer segment name, Alerus Agriculture. The new segment name reflects the evolution and consolidation of agricultural products offered by Alerus and reinforces Alerus' commitment to serving ag customers.

Alerus' history in the agricultural market has changed substantially over the past 20 years. In the early 90's, Alerus offered ag loans, crop insurance, and farm management. Alerus then added rural appraisals, and ag stock sales to the ag product menu with the acquisitions of Botsford & Rice in 1998, and Braaten & Qualey in 2000. Today, Alerus offers the widest variety of ag products and is one the most experienced financial ag service providers in the region.

Terry Longtin will oversee the new segment as Director of Alerus Agriculture. Longtin has worked extensively in farm management since 1983. He holds an agricultural degree in farm and ranch management from NDSU and earned his AFM (Accredited Farm Manager) designation from the American Society of Farm Managers and Rural Appraisers.

"We are dedicated to providing services for the many needs of farmers in our region," said Longtin. "The new name simply highlights our enhanced focus on this segment as we look forward to leveraging all ag products to increase our ag lending portfolio." Initial plans for Alerus include hiring additional staff in 2010-2011 to support this initiative.

Alerus Agricultural offers customers throughout the Red River Valley quality service with a complete menu of ag-related products and services including lending, crop insurance, appraisals, farm management, ag stocks, deposits and cash handling, investments, retirement planning, and transition planning to the next generation.

Alerus Financial is an independent, multibillion-dollar financial services company with total bank assets exceeding $1.1 billion, another $7.2 billion in customer assets under management and administration and $350 million in brokerage assets. It is one of the largest and oldest independent financial services organizations in the upper Midwest. For more information, visit