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Published November 07 2009

Alerus acquires loans, deposits of Minnesota bank

Alerus Financial, with headquarters in Grand Forks, N.D., has acquired the deposits and loans of Prosperan Bank, headquartered in Oakdale, Minn.

The acquisition brings Alerus Financial’s total bank assets to more than

$1 million.

Alerus will operate Prosperan’s three former branches in Oakdale, Maplewood, and Minnetonka.