Profit Fan

Alerus Financial: Banking In The Bakken, LITERALLY!

Like real estate, a large determining factor in the success and valuation of a regional bank comes down to location and, right now, there is arguably no faster growing area in the U.S. than the one found in and around the booming oil and gas economy of North Dakota.

For interested investors there are very few options due to the privatization of most pure play regionals in the area but, that just makes Alerus Financial Corp. (OTCQX:ALRS) even more compelling. Alerus Financial has a $195 million market cap and last reported assets of $1.297 billion and deposits of $1.062 billion. The bank has been growing very fast (up ~30% YTD) and trades right at its 52-week high, however, ...

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