<SEC-DOCUMENT>0001437749-25-016433.txt : 20250513
<SEC-HEADER>0001437749-25-016433.hdr.sgml : 20250513
<ACCEPTANCE-DATETIME>20250513160511
ACCESSION NUMBER:		0001437749-25-016433
CONFORMED SUBMISSION TYPE:	SCHEDULE 13G/A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20250513
DATE AS OF CHANGE:		20250513

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ALERUS FINANCIAL CORP
		CENTRAL INDEX KEY:			0000903419
		STANDARD INDUSTRIAL CLASSIFICATION:	NATIONAL COMMERCIAL BANKS [6021]
		ORGANIZATION NAME:           	02 Finance
		EIN:				450375407
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13G/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-54391
		FILM NUMBER:		25939932

	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

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Alerus Financial Corp Employee Stock Ownership Plan
		CENTRAL INDEX KEY:			0001803603
		ORGANIZATION NAME:           	
		EIN:				000000000
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13G/A

	BUSINESS ADDRESS:	
		STREET 1:		401 DEMERS AVENUE
		STREET 2:		SUITE 1925
		CITY:			GRAND FORKS
		STATE:			ND
		ZIP:			58201
		BUSINESS PHONE:		701-795-3200

	MAIL ADDRESS:	
		STREET 1:		401 DEMERS AVENUE
		STREET 2:		SUITE 1925
		CITY:			GRAND FORKS
		STATE:			ND
		ZIP:			58201
</SEC-HEADER>
<DOCUMENT>
<TYPE>SCHEDULE 13G/A
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
<XML>
<?xml version="1.0" encoding="UTF-8"?><edgarSubmission xmlns="http://www.sec.gov/edgar/schedule13g" xmlns:com="http://www.sec.gov/edgar/common">
  <headerData>
    <submissionType>SCHEDULE 13G/A</submissionType>
    <previousAccessionNumber>0001104659-20-021525</previousAccessionNumber>
    <filerInfo>
      <filer>
        <filerCredentials>
          <cik>0001803603</cik>
          <ccc>XXXXXXXX</ccc>
        </filerCredentials>
      </filer>
      <liveTestFlag>LIVE</liveTestFlag>



    </filerInfo>
  </headerData>
  <formData>
    <coverPageHeader>
      <amendmentNo>6</amendmentNo>
      <securitiesClassTitle>Common Stock, $1.00 par value per share</securitiesClassTitle>
      <eventDateRequiresFilingThisStatement>03/31/2025</eventDateRequiresFilingThisStatement>
      <issuerInfo>
        <issuerCik>0000903419</issuerCik>
        <issuerName>ALERUS FINANCIAL CORP</issuerName>
        <issuerCusip>01446U103</issuerCusip>
        <issuerPrincipalExecutiveOfficeAddress>
          <com:street1>401 DEMERS AVE</com:street1>
          <com:city>GRAND FORKS</com:city>
          <com:stateOrCountry>ND</com:stateOrCountry>
          <com:zipCode>58201</com:zipCode>
        </issuerPrincipalExecutiveOfficeAddress>
      </issuerInfo>
      <designateRulesPursuantThisScheduleFiled>
        <designateRulePursuantThisScheduleFiled>Rule 13d-1(b)</designateRulePursuantThisScheduleFiled>
      </designateRulesPursuantThisScheduleFiled>
    </coverPageHeader>
    <coverPageHeaderReportingPersonDetails>

      <reportingPersonName>Alerus Financial Corp Employee Stock Ownership Plan</reportingPersonName>
      <memberGroup>b</memberGroup>
      <citizenshipOrOrganization>ND</citizenshipOrOrganization>
      <reportingPersonBeneficiallyOwnedNumberOfShares>
        <soleVotingPower>0.00</soleVotingPower>
        <sharedVotingPower>1036396.00</sharedVotingPower>
        <soleDispositivePower>0.00</soleDispositivePower>
        <sharedDispositivePower>1036396.00</sharedDispositivePower>
      </reportingPersonBeneficiallyOwnedNumberOfShares>
      <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>1036396.00</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
      <classPercent>4.1</classPercent>
      <typeOfReportingPerson>EP</typeOfReportingPerson>
      <comments>With respect to item (5) above, consists of shares allocated to the accounts of the Alerus Financial Corporation Employee Stock Ownership Plan (ESOP) participants. Pursuant to the terms of the ESOP, these allocated shares are voted in accordance with the instructions of the individual participants on all matters requiring the vote of stockholders of Alerus Financial Corporation. If no voting instructions are received, the allocated shares are voted in a manner consistent with and proportionate to the voting instructions received from other participants.

With respect to item (8) above, any decision to sell shares allocated to the account of an ESOP participant is made by the individual participant and then executed by the ESOP.

With respect to item (11) above, based on 25,510,213 shares outstanding as of March 31, 2025.

EXPLANATORY NOTE: Amendment No. 5 to Schedule 13G filed by the Alerus Financial Corporation ESOP on February 5, 2025, incorrectly disclosed ownership by the Alerus Financial Corporation ESOP of 2,013,442 shares of Alerus Financial Corporation common stock, or 7.90% of the class, at December 31, 2024. The correct numbers are 1,006,721 shares of common stock owned by the Alerus Financial Corporation ESOP, or 3.95% of the class, at December 31, 2024.
</comments>
    </coverPageHeaderReportingPersonDetails>
    <items>
      <item1>
        <issuerName>ALERUS FINANCIAL CORP</issuerName>
        <issuerPrincipalExecutiveOfficeAddress>401 DEMERS AVE, GRAND FORKS, NORTH DAKOTA, 58201.</issuerPrincipalExecutiveOfficeAddress>
      </item1>
      <item2>
        <filingPersonName>Alerus Financial Corporation Employee Stock Ownership Plan</filingPersonName>
        <principalBusinessOfficeOrResidenceAddress>401 Demers Avenue
Grand Forks, North Dakota 58201
</principalBusinessOfficeOrResidenceAddress>
        <citizenship>The ESOP was formed under the laws of the State of North Dakota</citizenship>
      </item2>
      <item3>
        <notApplicableFlag>N</notApplicableFlag>
        <typeOfPersonFiling>EP</typeOfPersonFiling>
      </item3>
      <item4>
        <amountBeneficiallyOwned>1,036,396</amountBeneficiallyOwned>
        <classPercent>4.1%*

* Based on 25,510,213 shares outstanding as of March 31, 2025.
</classPercent>
        <numberOfSharesPersonHas>
          <solePowerOrDirectToVote>0</solePowerOrDirectToVote>
          <sharedPowerOrDirectToVote>1,036,396</sharedPowerOrDirectToVote>
          <solePowerOrDirectToDispose>0</solePowerOrDirectToDispose>
          <sharedPowerOrDirectToDispose>1,036,396</sharedPowerOrDirectToDispose>
        </numberOfSharesPersonHas>
      </item4>
      <item5>
        <classOwnership5PercentOrLess>Y</classOwnership5PercentOrLess>
      </item5>
      <item6>
        <notApplicableFlag>Y</notApplicableFlag>
      </item6>
      <item7>
        <notApplicableFlag>Y</notApplicableFlag>
      </item7>
      <item8>
        <notApplicableFlag>Y</notApplicableFlag>
      </item8>
      <item9>
        <notApplicableFlag>Y</notApplicableFlag>
      </item9>
      <item10>
        <notApplicableFlag>N</notApplicableFlag>
        <certifications>By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under &amp;#167; 240.14a-11.

</certifications>
      </item10>
    </items>
    <signatureInformation>
      <reportingPersonName>Alerus Financial Corp Employee Stock Ownership Plan</reportingPersonName>
      <signatureDetails>
        <signature>Alerus Financial Corporation Employee Stock Ownership Plan Committee of the Board of Directors, Trustee; /s/ Teresa Wasvick</signature>
        <title>Teresa Wasvick, Chair</title>
        <date>05/13/2025</date>
      </signatureDetails>
    </signatureInformation>
  </formData>
</edgarSubmission>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
