Alerus Financial Corporation is a diversified financial services company. Through its subsidiary, Alerus Financial, National Association, the Company provides financial solutions to businesses and consumers. It operates through four segments: Banking, Retirement and Benefit Services, Wealth Management and Mortgage. The Banking division offers a line of loan, deposit, cash management, and treasury services. Retirement and Benefit Services provides recordkeeping and administration services to retirement plans; employee stock ownership plan (ESOP) trustee, recordkeeping, and administration, and investment fiduciary services to retirement plans. The Wealth Management division provides advisory and planning services, investment management, and trust and fiduciary services to clients. The Mortgage division offers mortgage loans through a centralized mortgage unit in Minneapolis, Minnesota, as well as through the Banking office locations.