ESOP · DOL Form 5500 · 2023

Alerus Financial ESOP

Data updated 2026-08-25

$29M
Total assets Below avg plan size
681
Participants Below avg headcount
79th
Percentile by assets National rank
$43,219
Avg per participant Low balance/head
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Official DOL plan name: Alerus Financial Employee Stock Ownership Plan · Sponsored by Alerus Financial · North Dakota · Information & Media

$29M in assets, 681 participants

Alerus Financial's Alerus Financial Employee Stock Ownership Plan reported $29M in total assets and 681 participants in its 2023 DOL Form 5500 filing, ranking in the 79th percentile by assets among filed plans. Figures are as reported by the plan sponsor to the Department of Labor, not audited or endorsed by PlainRetire.

  • #2,005 in Information & Media (2,818 peers)

Where Alerus Financial Employee Stock Ownership Plan sits by assets

Alerus Financial Employee Stock Ownership Plan sits in the top quartile of all filed plans by assets, $29M for 681 participants (~$43,219/participant), down 2.0% in 2023.

#2,005
in Information & Media (2,818 peers)
-2.0%
assets change YoY
0.3×
vs typical plan assets (national mean)

The plan reported a net loss of $590K for the year, a single-year figure driven by markets and benefit payments, not a measure of plan health.

Alerus Financial Employee Stock Ownership Plan's outsized position by total assets

Alerus Financial Employee Stock Ownership Plan vs every filed plan by assets

End-of-year total assets · plan year 2023 · DOL Form 5500

$29,432,383 Top 21% higher than 79% of 127,068 filed plans

This plan $0 $2,050,000,000 every filed plan with reported assets, bucketed by value

Dashed line + filled bar = this entry, among filed plans.

Source U.S. Department of Labor Form 5500 filings (EBSA) · plan year 2023

Alerus Financial Employee Stock Ownership Plan among mid-size filed plans by headcount

Plan-year 2023 Form 5500 filings with a reported participant count, partitioned by headcount band, not by assets. Alerus Financial Employee Stock Ownership Plan sits mid-pack in the medium band (681 participants).

What changed between DOL Form 5500 filings

plan year 2022 → plan year 2023

  • Alerus Financial Employee Stock Ownership Plan reported net income rose from -$7M in the plan year 2022 filing to -$590K in the plan year 2023 filing.
  • Alerus Financial Employee Stock Ownership Plan reported participants fell from 730 in the plan year 2022 filing to 681 in the plan year 2023 filing.
  • Alerus Financial Employee Stock Ownership Plan end-of-year assets fell from $30M in the plan year 2022 filing to $29M in the plan year 2023 filing.

See the national 2022→2023 release diff →

DOL schedule card

Filing strip 450375407 · Alerus Financial PY 2023 · ESOP

Alerus Financial Employee Stock Ownership Plan · $29M · 681 · 79th

  • IND $29M
  • IND 681
  • IND 79th
  • IND ESOP
  • IND near Harken, Inc. Employee Stock Ownership Plan
  • IND ind #2005

Stamps derive from this plan's Form 5500 line items (assets, participants, type, EIN, cohort placement) - not a quality rating of the sponsor. Read with What is an ESOP? → · Plans in North Dakota →

Alerus Financial Employee Stock Ownership Plan in the asset neighbourhood

Hart Howerton Employee Stock Ownership PlanHart Howerton Employee Stock…$29MHarken, Inc. Employee Stock Ownership PlanHarken, Inc. Employee Stock …$29MAlerus Financial Employee Stock Ownership PlanAlerus Financial Employee St…$29MCiranda, Inc. Employee Stock Ownership Plan and TrustCiranda, Inc. Employee Stock…$29MSunflower Landscaping and Maintenance, Inc. Employee Stock Ownership PlanSunflower Landscaping and Ma…$29M
End-of-year total assets ($M) among Alerus Financial Employee Stock Ownership Plan and nearest nationwide ESOP peers. Source: DOL Form 5500 plan year 2023.

Scale-class filing particulars (2023)

Total Assets (Beginning of Year)$30M
Net Assets (End of Year)$29M
Net Income-$590K
Employer EIN450375407
Plan Effective Date1986-01-01
Filing StatusFILING RECEIVED

Sponsor Plan History (Alerus Financial)

Sponsor-wide plan assets over time

All Alerus Financial plans reported in each filing year

Latest sponsor-wide plan assets
$216M 18.540059490641877% vs 2022
2024 filing year
$160M$180M$200M$220M 202220232024 $182M $216M ▲ +18.5%
Year Plans Participants Total Assets
2022 2 1,538 $182M
2023 2 1,487 $200M
2024 2 1,473 $216M

Nearby ESOP Plans in North Dakota

Peer ESOP plans, same state, same plan type, ranked by total assets.

Alerus Financial Employee Stock Ownership Plan vs. nearby ESOP plans in North Dakota, assets vs. participants Scatter plot of 6 data points. -1000010002000300040005000 -0.500.511.5 Total assets ($B) Participants Alerus Financial Employee Stock Ownership Plan, Total assets ($B): 0.029432383 · Participants: 681Alerus Financial Employee Stock Ownership PlanBorder States Industries, Inc. Employee Stock Ownership Plan, Total assets ($B): 1.176759361 · Participants: 2973Border States Industries, Inc. Employee Stock Ownership PlanScheels Employee Stock Ownership Plan, Total assets ($B): 0.837710398 · Participants: 4597Scheels Employee Stock Ownership PlanDakota Supply Group, Inc. Employee Stock Ownership Plan, Total assets ($B): 0.229795263 · Participants: 767Dakota Supply Group, Inc. Employee Stock Ownership PlanUlteig, Inc. Employee Stock Ownership Plan, Total assets ($B): 0.158672448 · Participants: 901Ulteig, Inc. Employee Stock Ownership PlanFrontier Precision, Inc Employee Stock Ownership Plan, Total assets ($B): 0.086685795 · Participants: 90Frontier Precision, Inc Employee Stock Ownership Plan
Alerus Financial Employee Stock Ownership Plan vs. nearby ESOP plans in North Dakota, assets vs. participants
Compare Alerus Financial Employee Stock Ownership Plan side-by-side with 3 peers →

Alerus Financial Employee Stock Ownership Plan's out-of-state ESOP peers by assets and headcount

Outside North Dakota, the nearest ESOP by assets is Harken, Inc. Employee Stock Ownership Plan in WI ($29M); by covered participants it is Chatsworth Products, Inc Employee Stock Ownership Plan in CA (680 participants). Same-state nearby plans are listed separately above.

Similar participant headcount

Nearest other-state filings by covered participants (681 participants); asset peers above are excluded.

DOL Form 5500 plan year 2023. Asset totals can differ widely at the same headcount; neither axis is a quality rating.

Frequently Asked Questions

How did Alerus Financial Employee Stock Ownership Plan assets move in 2023? ▼
Alerus Financial Employee Stock Ownership Plan edged down modestly - down 2.0% during 2023, from $30M to $29M. Reported net income was -$590K.
How have Alerus Financial plan assets changed over time? ▼
Across 3 plan years on file (2022-2024), Alerus Financial's sponsor-wide assets grew 18.5%, from $182M to $216M.
Where does Alerus Financial Employee Stock Ownership Plan rank by assets among Form 5500 filers? ▼
Alerus Financial Employee Stock Ownership Plan ranks in the 79th percentile by end-of-year assets among 127,072 plans that reported assets for plan year 2023 (in the top quartile of all filed plans by assets).
Which ESOP plans are similar in size to Alerus Financial Employee Stock Ownership Plan? ▼
Among ESOP plans in other states, the closest by assets is Harken, Inc. Employee Stock Ownership Plan in WI ($29M, 255 participants).
Which ESOP plans cover a similar participant headcount to Alerus Financial Employee Stock Ownership Plan? ▼
Among ESOP plans in other states, the closest by covered participants is Chatsworth Products, Inc Employee Stock Ownership Plan in CA (680 participants, $119M in assets).

Source: U.S. Department of Labor, Employee Benefits Security Administration (EBSA), Form 5500 public disclosure dataset. Plan year 2023.

Source: DOL EFAST2 filing system (efast.dol.gov) - original filing retrieval by EIN 450375407.

Read our methodology - how this data is sourced, computed, and verified.

Data sourced from U.S. Department of Labor Form 5500 filings (EBSA). See our methodology for details.