<SEC-DOCUMENT>0001104659-22-006039-index.html : 20220120
<SEC-HEADER>0001104659-22-006039.hdr.sgml : 20220120
<ACCEPTANCE-DATETIME>20220120172932
ACCESSION NUMBER:		0001104659-22-006039
CONFORMED SUBMISSION TYPE:	S-4
PUBLIC DOCUMENT COUNT:		18
FILED AS OF DATE:		20220120
DATE AS OF CHANGE:		20220120

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ALERUS FINANCIAL CORP
		CENTRAL INDEX KEY:			0000903419
		STANDARD INDUSTRIAL CLASSIFICATION:	NATIONAL COMMERCIAL BANKS [6021]
		IRS NUMBER:				450375407
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		S-4
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-262267
		FILM NUMBER:		22543294

	BUSINESS ADDRESS:	
		STREET 1:		401 DEMERS AVE
		CITY:			GRAND FORKS
		STATE:			ND
		ZIP:			58201
		BUSINESS PHONE:		7017953200

	MAIL ADDRESS:	
		STREET 1:		PO BOX 6001
		STREET 2:		401 DEMERS AVE
		CITY:			GRAND FORKS
		STATE:			ND
		ZIP:			58206-6001

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	FIRST NATIONAL CORP NORTH DAKOTA
		DATE OF NAME CHANGE:	19980312
</SEC-HEADER>
<DOCUMENT>
<TYPE>S-4
<SEQUENCE>1
<FILENAME>tm223244-1_s4.htm
<DESCRIPTION>S-4
<TEXT>
Document 1 - file: tm223244-1_s4.htm

</DOCUMENT>
<DOCUMENT>
<TYPE>EX-5.1
<SEQUENCE>2
<FILENAME>tm223244d2_ex5-1.htm
<DESCRIPTION>EXHIBIT 5.1
<TEXT>
Document 2 - file: tm223244d2_ex5-1.htm

</DOCUMENT>
<DOCUMENT>
<TYPE>EX-8.1
<SEQUENCE>3
<FILENAME>tm223244d2_ex8-1.htm
<DESCRIPTION>EXHIBIT 8.1
<TEXT>
Document 3 - file: tm223244d2_ex8-1.htm

</DOCUMENT>
<DOCUMENT>
<TYPE>EX-8.2
<SEQUENCE>4
<FILENAME>tm223244d2_ex8-2.htm
<DESCRIPTION>EXHIBIT 8.2
<TEXT>
Document 4 - file: tm223244d2_ex8-2.htm

</DOCUMENT>
<DOCUMENT>
<TYPE>EX-23.1
<SEQUENCE>5
<FILENAME>tm223244d2_ex23-1.htm
<DESCRIPTION>EXHIBIT 23.1
<TEXT>
Document 5 - file: tm223244d2_ex23-1.htm

</DOCUMENT>
<DOCUMENT>
<TYPE>EX-23.2
<SEQUENCE>6
<FILENAME>tm223244d2_ex23-2.htm
<DESCRIPTION>EXHIBIT 23.2
<TEXT>
Document 6 - file: tm223244d2_ex23-2.htm

</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>7
<FILENAME>tm223244d2_ex99-1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
Document 7 - file: tm223244d2_ex99-1.htm

</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>8
<FILENAME>lg_alerusfinancialcorp-4clr.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
Document 8 - file: lg_alerusfinancialcorp-4clr.jpg

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<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>9
<FILENAME>lg_raymondjames-4c.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
Document 9 - file: lg_raymondjames-4c.jpg

</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>10
<FILENAME>sg_helendefusco-bw.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
Document 10 - file: sg_helendefusco-bw.jpg

</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>11
<FILENAME>sg_raymandjamesasso-bw.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
Document 11 - file: sg_raymandjamesasso-bw.jpg

</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>12
<FILENAME>sg_stephenhagged-bw.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
Document 12 - file: sg_stephenhagged-bw.jpg

</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>13
<FILENAME>tm223244d1-ft_raynewyorkbw.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
Document 13 - file: tm223244d1-ft_raynewyorkbw.jpg

</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>14
<FILENAME>tm223244d2_ex23-1img01.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
Document 14 - file: tm223244d2_ex23-1img01.jpg

</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>15
<FILENAME>tm223244d2_ex23-2img01.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
Document 15 - file: tm223244d2_ex23-2img01.jpg

</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>16
<FILENAME>tm223244d2_ex5-1img001.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
Document 16 - file: tm223244d2_ex5-1img001.jpg

</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>17
<FILENAME>tm223244d2_ex8-1img001.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
Document 17 - file: tm223244d2_ex8-1img001.jpg

</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>18
<FILENAME>tm223244d2_ex8-1img002.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
Document 18 - file: tm223244d2_ex8-1img002.jpg

</DOCUMENT>
</SEC-DOCUMENT>