Alerus named a top community bank
Alerus Financial has been recognized as 83rd on the annual U.S. Banker's list of "Top 200 Community Banks." The list, which appears in the June edition of U.S. Banker magazine, was compiled by rating the top 200 publicly traded community banks and thrifts in the United States with less than $2 billion of assets ranked by a three-year average return on equity (ROE) as of December 31, 2009.
With a 10.97 percent three-year ROE, Alerus Financial was the only bank headquartered in North Dakota to make the list.
"Our performance in the upper half of "U.S. Banker's" list of 'Top 200 Community Banks' reflects our institution's stability in what has been a volatile market over the past few years, and indicates a strong position for future growth," said Randy Newman, Alerus Financial CEO. "And we achieved this financial performance during a time of acquisition, while purchasing failed banks in Minneapolis and expanding our footprint in the Phoenix area. We are pleased to be recognized by U.S. Banker magazine."