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Note 18 - Employee Benefits | 12 Months Ended
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Dec. 31, 2024
Notes to Financial Statements |
Compensation and Employee Benefit Plans [Text Block] | NOTE 18 Employee Benefits The Company maintains two employee retirement plans including the Alerus Financial Corporation ESOP and a defined contribution salary reduction plan (the “401(k) plan”). The plans cover substantially all employees upon satisfying prescribed eligibility requirements for age and length of service. Contributions to the ESOP are determined annually by the Board, at its discretion, and allocated to participants based on a percentage of annual compensation. For the years ended December 31, 2024, 2023 and 2022, there were no unallocated ESOP shares outstanding. Shares of the Company stock within the ESOP are considered outstanding and dividends on these shares are charged to retained earnings. Under the 401(k) plan, the Company contributes 100% of amounts deferred by employees up to 3% of eligible compensation and 50% of amounts deferred by employees between 3% and 6% of eligible compensation. Retirement plan contributions are reflected under employee benefits in the income statement and for the years ending December 31, 2024, 2023, and 2022 were as follows:
|  | December 31, |  |  | December 31, |  |  | December 31, |
(dollars in thousands) |  | 2024 |  |  | 2023 |  |  | 2022 |
Salary reduction plan |  | $ | 3,082 |  |  | $ | 2,933 |  |  | $ | 3,148 |
ESOP |  |  | 2,449 |  |  |  | 1,604 |  |  |  | 1,932 |
Total |  | $ | 5,531 |  |  | $ | 4,537 |  |  | $ | 5,080 |
Total ESOP shares outstanding |  |  | 1,019,891 |  |  |  | 1,152,017 |  |  |  | 1,111,424 |

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- Definition The entire disclosure for an entity's employee compensation and benefit plans, including, but not limited to, postemployment and postretirement benefit plans, defined benefit pension plans, defined contribution plans, non-qualified and supplemental benefit plans, deferred compensation, share-based compensation, life insurance, severance, health care, unemployment and other benefit plans. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 710 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/710/tableOfContent Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 712 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/712/tableOfContent Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 715 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/715/tableOfContent Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/718/tableOfContent + Details
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