{"schema_version":"secwatch.filing_event.v1","accession":"0001104659-24-061633","form_type":"8-K","ticker":"ALRS","cik":"0000903419","company_name":"ALERUS FINANCIAL CORP","filed_at":"2024-05-15T23:59:59+00:00","discovered_at":"2026-05-14T18:03:22.389300+00:00","generated_at":"2026-06-02T00:01:04.247982+00:00","sec_items":["1.01","7.01","9.01"],"event_type":"m_and_a","sentiment":"positive","materiality_score":0.85,"calibrated_materiality_score":0.85,"confidence":"high","headline":"Alerus to acquire HMN Financial in ~$116.4M all-stock merger, exchange ratio 1.25x","bullets":["HMNF holders receive 1.25 Alerus shares per HMNF share; implied value ~$25.86/share, aggregate ~$116.4M.","Pro forma combined company: ~$5.5B assets, $3.7B loans, $4.3B deposits, $43.1B assets under administration.","Transaction expected to be immediately accretive to Alerus EPS; tangible book value earnback ~2.2 years; IRR >25%.","HMNF had $1.2B assets, $872M loans, $1.03B deposits as of March 31, 2024; operated 14 branches in MN, IA, WI.","Expected to close in Q4 2024; approvals required from regulators and stockholders of both companies."],"urls":{"canonical":"https://secwatch.observer/filing/0001104659-24-061633","json":"https://secwatch.observer/filing/0001104659-24-061633.json","markdown":"https://secwatch.observer/filing/0001104659-24-061633.md","text":"https://secwatch.observer/filing/0001104659-24-061633.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/903419/000110465924061633/0001104659-24-061633-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/903419/000110465924061633/tm2414375d2_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-02T00:01:04.247982+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"50fb096db0fbff0c03222f2bed3066c17097fb20","claim":"ALERUS FINANCIAL CORP entered into Agreement and Plan of Merger with HMN Financial, Inc. valued at approximately $116.4 million (effective 2024-05-14).","evidence_excerpt":"On May 14, 2024, Alerus Financial Corporation, a Delaware corporation (the “Company”), entered into an Agreement and Plan of Merger (the “Merger Agreement”) with HMN Financial, Inc., a Delaware corporation (“HMNF”), pursuant to which HMNF will merge into the Company, with the Company as the surviving corporation (the “Merger”).","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/903419/000110465924061633/0001104659-24-061633-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"merger"},{"label":"Counterparty","value":"HMN Financial, Inc."},{"label":"Value","value":"approximately $116.4 million"},{"label":"Effective","value":"2024-05-14"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}