Alerus Financial Corporation is a diversified financial services company operating three core business segments: banking, retirement and benefit services, and wealth. The banking segment provides commercial and consumer lending, deposits, and treasury management services primarily to middle-market businesses; the retirement and benefit services segment offers recordkeeping and administration for qualified retirement plans, health savings accounts, and related services to clients across all 50 states; and the wealth segment delivers financial planning, investment management, trust, and custody services. The company generates revenue from net interest income on traditional banking products and noninterest income from fees charged by the retirement and wealth segments, and differentiates itself through a client-centric "One Alerus" business model that pairs personalized advisor relationships with an integrated digital platform, enabling clients to access all three segments through a single point of contact and unified technology interface.