Alerus Financial, N.A. Announces Acquisition of Beacon Bank
The Barack Ferrazzano Financial Institutions Group acted as legal counsel for Alerus Financial, N.A. (OTCQX:ALRS) in the proposed acquisition of Twin Cities-based Beacon Bank, which was announced on September 22, 2015. The transaction, which is expected to be completed in the first quarter of 2016, further strengthens Alerus's presence in the Twin Cities market and allows it to enter the Duluth market. Barack Ferrazzano's legal team was led by Joseph T. Ceithaml, along with Andrew K. Strimaitis, K.C. Klagos and paralegal Cindy C. Wang.
Alerus Financial, N.A. had total banking assets, as of June 30, 2015, of approximately $1.6 billion, assets under management of approximately $2.7 billion, and assets under administration of approximately $17.8 billion.
Barack Ferrazzano Financial Institutions Group
Our 30-attorney Group has represented more than 250 financial institutions across the country. Our M&A experience is unparalleled-over the past decade, our Group ranked #1 in the Midwest region by number of announced bank and thrift merger and acquisition transactions, according to SNL Financial. The Financial Institutions Group was again named as one of the top financial institution groups in the nation in the U.S. News & Best Lawyers 2015 report.