Alerus Financial Completes Acquisition of Metro Phoenix Bank

Alerus Financial Corporation Acquires HMN Financial, Inc. (Home Federal Savings Bank)

October 9, 2024

Financial Services

Alerus Financial Corporation completed its previously announced all-stock acquisition of HMN Financial, Inc. and its subsidiary Home Federal Savings Bank for approximately $128.8 million. The deal expands Alerus’ banking footprint into the Rochester, Minnesota MSA, makes it the largest bank acquisition in Alerus history, and adds roughly $1.1 billion in assets to the combined company; HMN board member Jeffrey Bolton joined Alerus’ board in connection with closing.

Alera Group Acquires Muench Financial, Inc.

December 31, 2019

Wealth Management

Alera Group acquired Seattle-based Muench Financial, Inc., effective December 31, 2019. The deal brings Jon Muench and his team into Alera Group's wealth management and retirement services practice, expanding Alera's capabilities and presence in the Pacific Northwest.

Nicolet Bankshares Acquires Mackinac Financial Corporation (mBank)

April 12, 2021

Financial Services

Nicolet Bankshares, Inc. agreed to acquire Mackinac Financial Corporation and its wholly owned subsidiary mBank in a transaction valued at approximately $248 million. The deal, consisting of roughly 80% stock and 20% cash, expands Nicolet's community banking footprint into Northern Michigan and is expected to close in Q3 2021 subject to regulatory and shareholder approvals.

Alera Group Acquires AMCORP, Inc.

December 31, 2019

Financial Services

Alera Group acquired AMCORP, Inc., a San Antonio-based benefits consulting and financial planning firm, effective December 31, 2019. The deal expands Alera Group's presence in Texas and brings AMCORP's team and local client relationships into Alera's national platform; terms were not disclosed.

Metro Credit Union to Merge with Members Plus Credit Union

April 2, 2026

Financial Services

Metro Credit Union and Members Plus Credit Union have announced their intent to merge in a member-focused strategic partnership. If approved by members and regulators, Metro Credit Union will be the continuing institution, and the combined credit union is expected to operate 25 retail branches serving about 214,000 members with more than $3.5 billion in assets by the end of 2026.

Glacier Bancorp Acquires Altabancorp (Altabank)

October 1, 2021

Financial Services

Glacier Bancorp, Inc. completed its acquisition of Altabancorp (Altabank), the largest community bank in Utah. Altabank will operate as "Altabank, Division of Glacier Bank," adding 25 branches and roughly $3.5 billion in assets and expanding Glacier's Western U.S. footprint.