0000903419 2026-08-28 2026-08-28 0000903419 1 2026-08-28 2026-08-28 0000903419 2 2026-08-28 2026-08-28 0000903419 3 2026-08-28 2026-08-28 0000903419 4 2026-08-28 2026-08-28 0000903419 5 2026-08-28 2026-08-28 0000903419 6 2026-08-28 2026-08-28 0000903419 7 2026-08-28 2026-08-28 0000903419 8 2026-08-28 2026-08-28 0000903419 9 2026-08-28 2026-08-28 0000903419 10 2026-08-28 2026-08-28 0000903419 11 2026-08-28 2026-08-28 0000903419 12 2026-08-28 2026-08-28 0000903419 13 2026-08-28 2026-08-28 0000903419 14 2026-08-28 2026-08-28 0000903419 15 2026-08-28 2026-08-28 0000903419 16 2026-08-28 2026-08-28 0000903419 17 2026-08-28 2026-08-28 0000903419 18 2026-08-28 2026-08-28 0000903419 19 2026-08-28 2026-08-28 0000903419 20 2026-08-28 2026-08-28 iso4217:USD pure S-3 S-3 EX-FILING FEES 0000903419 ALERUS FINANCIAL CORP N/A N/A 0.0001381 0.0001381 0.0001381 0.0001381 0.0001381 0.0001381 0.0001381 0.0001381 0.0001381 S-3 ALERUS FINANCIAL CORP Equity Common Stock, $1.00 Par Value true Equity Preferred Stock, $1.00 Par Value true Debt Debt securities true Equity Warrants true Equity Depositary shares true Other Subscription Rights true Other Stock Purchase Contracts true Other Stock Purchase Units true Other Units true false Unallocated (Universal) Shelf true 75000000.00 0.0001381 10357.50 Equity Common Stock, $1.00 Par Value true S-3 333-274509 2023-09-27 Equity Preferred Stock, $1.00 Par Value true S-3 333-274509 2023-09-27 Debt Debt securities true S-3 333-274509 2023-09-27 Equity Warrants true S-3 333-274509 2023-09-27 Equity Depositary shares true S-3 333-274509 2023-09-27 Other Subscription Rights true S-3 333-274509 2023-09-27 Other Stock Purchase Contracts true S-3 333-274509 2023-09-27 Other Stock Purchase Units true S-3 333-274509 2023-09-27 Other Units true S-3 333-274509 2023-09-27 Unallocated (Universal) Shelf true 125000000.00 S-3 333-274509 2023-09-27 16225.00 200000000.00 10357.50 0.00 0.00 10357.50 1 Calculated in accordance with Rule 457(o) under the Securities Act of 1933. The proposed maximum offering price per security will be determined from time to time by the registrant in connection with the issuance of the securities registered by this registration statement. The proposed maximum aggregate offering price has been estimated solely for the purpose of calculating the registration fee. In no event will the maximum aggregate offering price of all securities issued under this registration statement exceed $200,000,000. The amount registered is not specified as to each class of securities to be registered hereunder pursuant to Instruction 2.A.iii.b. of Item 16(b) of Form S-3 under the Securities Act of 1933. The proposed maximum aggregate offering price per class of security will be determined from time to time by the registrant in connection with the issuance by the registrant of the securities registered hereunder and is not specified as to each class of security in reliance on Rule 457(o) under the Securities Act of 1933 and General Instruction II.D of Form S-3 under the Securities Act of 1933. Shares of common stock or preferred stock may be issued in primary offerings, upon conversion of debt securities or preferred stock registered hereby or upon the exercise of warrants or subscription rights to purchase preferred stock or common stock. 2 The debt securities being registered hereunder will consist of one or more series of senior debt securities or subordinated debt securities, or any combination thereof, as more fully described herein. 3 Warrants exercisable for common stock, preferred stock, depositary shares, debt securities or other securities. 4 The depositary shares registered hereunder will be evidenced by depositary receipts issued pursuant to a deposit agreement. If the registrant elects to offer to the public fractional interests in shares of preferred stock, then depositary receipts will be distributed to those persons purchasing the fractional interests and the shares will be issued to the depositary under the deposit agreement. 5 Subscription rights evidencing the right to purchase common stock, preferred stock, depositary shares, debt securities or other securities. 6 This registration statement registers securities with a maximum aggregate offering price of $200,000,000. Of these securities, securities with a maximum aggregate offering price of $125,000,000.00 (the "Unsold Securities") represent unsold securities previously registered by the registrant on its Registration Statement on Form S-3 filed on September 16, 2020 and declared effective on September 25, 2020 (File No. 333-248841) (the "2020 Registration Statement") and carried forward on its Registration Statement on Form S-3 filed on September 19, 2023 and declared effective on September 27, 2023 (File No. 333-274509) (the "2023 Registration Statement"). In connection with the 2020 Registration Statement, the registrant paid $16,225 in registration fees related to the Unsold Securities (based on the filing fee rate in effect at the time of the filing of the 2020 Registration Statement) that will be applied to the securities registered pursuant to this registration statement. In accordance with Question 212.24 of the Securities and Exchange Commission, Division of Corporation Finance's Compliance and Disclosure Interpretations regarding Securities Act Rules, the registrant is not required to pay any additional fee with respect to the Unsold Securities being included in this registration statement in reliance on Rule 415(a)(6), because such Unsold Securities (and associated fees) are being moved from the 2023 Registration Statement to this registration statement. Pursuant to Rule 415(a)(6), the offering of securities under the 2023 Registration Statement will be deemed terminated as of the date of effectiveness of this registration statement.