{"schema_version":"secwatch.filing_event.v1","accession":"0001104659-24-061634","form_type":"8-K","ticker":null,"cik":"0000921183","company_name":"HMN FINANCIAL INC","filed_at":"2024-05-15T23:59:59+00:00","discovered_at":"2026-05-14T18:03:22.456910+00:00","generated_at":"2026-06-02T00:02:54.232932+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 Financial to acquire HMN Financial in all-stock deal valued at ~$116.4M","bullets":["HMNF stockholders receive 1.25 Alerus shares per HMNF share; implied value $25.86/share ($116.4M aggregate).","Combined company: ~$5.5B assets, $3.7B loans, $4.3B deposits; Alerus expects accretion to earnings and >25% IRR.","Transaction unanimously approved by both boards; expected to close Q4 2024 subject to regulatory and stockholder approvals.","HMNF had $1.15B assets, $868.7M loans, $1.03B deposits as of March 31, 2024; operates 12 branches in MN, IA, WI.","Alerus to appoint one HMNF director to its board; termination fee of $4.6M under certain conditions."],"urls":{"canonical":"https://secwatch.observer/filing/0001104659-24-061634","json":"https://secwatch.observer/filing/0001104659-24-061634.json","markdown":"https://secwatch.observer/filing/0001104659-24-061634.md","text":"https://secwatch.observer/filing/0001104659-24-061634.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/921183/000110465924061634/0001104659-24-061634-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/921183/000110465924061634/tm2414377d2_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-02T00:02:54.232932+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":"ddabf73923b928f583df7ee528c0419af9debf2d","claim":"HMN FINANCIAL INC entered into Agreement and Plan of Merger with Alerus Financial Corporation valued at approximately $116.4 million (effective 2024-05-14).","evidence_excerpt":"On May 14, 2024, HMN Financial, Inc., a Delaware corporation (“HMNF”) entered into an Agreement and Plan of Merger (the “Merger Agreement”) with Alerus Financial Corporation, a Delaware corporation (“Alerus”), pursuant to which HMNF will merge into Alerus, with Alerus 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/921183/000110465924061634/0001104659-24-061634-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"merger"},{"label":"Counterparty","value":"Alerus Financial Corporation"},{"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"}