Alerus Financial To Acquire HMN Financial In A Transaction Valued At ~$116.4M
Portfolio Pulse from Benzinga Newsdesk
Alerus Financial Corporation (NASDAQ: ALRS) is set to acquire HMN Financial, Inc. (NASDAQ: HMNF) in an all-stock merger valued at approximately $116.4 million. The merger will expand Alerus' assets and services, creating a combined company with $5.5 billion in total assets and 29 locations across the Midwest and Arizona.
May 15, 2024 | 12:47 pm
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Alerus Financial Corporation (ALRS) is acquiring HMN Financial, Inc. (HMNF) in an all-stock merger valued at $116.4 million. This acquisition will significantly expand Alerus' assets and services.
The acquisition will increase Alerus' total assets to $5.5 billion and expand its market presence with 29 locations across the Midwest and Arizona. This strategic move aligns with Alerus' long-term growth plan.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
HMN Financial, Inc. (HMNF) will be acquired by Alerus Financial Corporation (ALRS) in an all-stock merger valued at $116.4 million. This merger will integrate HMNF's assets and services into Alerus.
The merger will result in HMNF's integration into Alerus, enhancing the combined company's asset base and service offerings. This is a positive development for HMNF shareholders.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100