Alerus Adds Equipment Finance Team

PHOENIX--(BUSINESS WIRE)-- Alerus Financial Corporation (Nasdaq: ALRS) is pleased to announce it is expanding its specialty lending capabilities with the addition of an experienced team focused on providing equipment financing to commercial banking clients throughout the company’s geographic footprint.

Brian Scott joins Alerus as managing director of the equipment finance team. In this role, he oversees the team’s activities and guides lending activities for clients across a range of industries. Scott has over 25 years of financial industry experience and served most recently as managing director of equipment finance at Western Alliance in Phoenix, where he oversaw the equipment finance division and led business development and production.

Daniel Littlefield joins Alerus as a senior credit officer specializing in equipment finance and is responsible for the underwriting and portfolio management of Alerus’ equipment finance division. Littlefield has over 20 years of experience in the financial industry with extensive expertise in portfolio management and credit underwriting.

Michael Ryan joins Alerus as operations manager for the equipment finance team. In this role, he develops and implements processes and procedures, and oversees operations for the team. Ryan has over 20 years of financial industry experience, with expertise in equipment finance.

“It’s a pleasure to welcome this talented team to Alerus as we add new verticals to meet our clients’ needs,” said Alerus President and CEO Katie Lorenson. “Equipment finance complements our growing business and commercial banking segment. It adds opportunities to expand relationships with existing clients and provides additional offerings to attract and build long-term client relationships.”

The team will be based in Phoenix and will serve clients directly, as well as support Alerus commercial bankers throughout the company’s footprint.

About Alerus Financial Corporation

Alerus Financial Corporation (Nasdaq: ALRS) is a commercial wealth bank and national retirement services provider with corporate offices in Grand Forks, North Dakota, and the Minneapolis-St. Paul, Minnesota metropolitan area. Through its subsidiary, Alerus Financial, N.A., Alerus provides diversified and comprehensive financial solutions to businesses and consumer clients, including banking, wealth services, and retirement and benefits plans and services. Alerus provides clients with a primary point of contact to help fully understand the unique needs and delivery channel preferences of each client. Clients are provided with competitive products, valuable insight, and sound advice supported by digital solutions designed to meet the clients’ needs.

Alerus has banking and wealth offices in Grand Forks and Fargo, North Dakota, the Minneapolis-St. Paul, Minnesota metropolitan area, and Phoenix and Scottsdale, Arizona. Alerus Retirement and Benefits serves advisors, brokers, employers, and plan participants across the United States.

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Kris Bevill, Public Relations

701.280.5076 (Office) :: 701.306.8561 (Cell)

kris.bevill@alerus.com

Source: Alerus Financial Corporation