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U.S. Bank CEO Andy Cecere talks expansion, growth and more - Cincinnati Business Courier

U.S. Bank CEO Andy Cecere talks expansion, growth and more - Cincinnati Business Courier
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Citizens State Bank appoints Fassbinder of Hudson

Citizens State Bank appoints Fassbinder of Hudson
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How North Dakota-based Alerus Financial built a sizable Minnesota franchise

How North Dakota-based Alerus Financial built a sizable Minnesota franchise
February 19, 2021 2:30pm
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A North Dakota-based financial-services firm, fresh off a 2020 initial public offering of stock and record earnings, is getting most of its growth from the Twin Cities.
Grand Forks-based Alerus Financial, once known as the First National Bank of Grand Forks, has quietly built a sizable Minnesota franchise. The state is also home to several of its top executives and half of the 800 employees.
The company, which has grown organically as well as through acquisitions of specialty financial firms, just reported 2020 earnings growth that rose 51% to $44.7 million. Revenue in commercial loans, mortgages, retirement-and-wealth management products rose in double-digit percentages. ....

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How North Dakota-based Alerus Financial built a sizable Minnesota franchise

How North Dakota-based Alerus Financial built a sizable Minnesota franchise
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Former U.S. Bancorp CEO Jack Grundhofer Dies at 82

He came to the Twin Cities in 1990 and built U.S. Bancorp through a series of acquisitions.
John “Jack” Grundhofer, one of Minnesota’s prominent banking leaders in the 1990s, died Jan. 24 in California. He was 82.
A Los Angeles native, Grundhofer came to the Twin Cities in 1990 to lead First Bank System as its chairman, president and CEO.
When he was recruited from Wells Fargo to join First Bank System, he knew he was being brought in to engineer a rescue effort. The bank had financial problems, which Grundhofer partly addressed through aggressive cost-cutting.
Grundhofer also made headlines in 1990 for being kidnapped at gunpoint from a downtown Minneapolis parking garage. He showed up for work on the morning of Nov. 19, and as he exited his car a gunman ordered him back into his vehicle. ....

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