EX-21.1 23 a2239413zex-21_1.htm EX-21.1

Exhibit 21.1

LIST OF SUBSIDIARIES OF ALERUS FINANCIAL CORPORATION

Subsidiary |  | Organized Under Laws of
Excelsior Financial Statutory Trust I |  | Minnesota
Excelsior Financial Statutory Trust II |  | Minnesota
Alerus Financial, National Association |  | United States of America
Subsidiaries of Alerus Financial, National Association: Alerus Securities Corporation |  | North Dakota