United States
Securities And Exchange Commission
Washington, DC 20549
FORM
Current Report Pursuant to
Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of report (Date of earliest event reported):
(Exact Name of Registrant as Specified in Charter)
(State or Other Jurisdiction of Incorporation) | (Commission File Number) | (IRS Employer Identification No.) |
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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
Act (17 CFR 240.14d-2(b))
Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each class | Trading symbol | Name of each exchange on which registered | ||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b–2 of the Securities Exchange Act of 1934 (§ 240.12b–2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
Item 8.01.Other Events.
On January 29, 2021 (the “Redemption Date”), Alerus Financial Corporation (the “Company”) redeemed the entire aggregate $50,000,000 outstanding principal amount of the Company’s 5.75% Fixed to Floating Rate Subordinated Notes due 2025 (the “Subordinated Notes”) in accordance with the terms of the Subordinated Notes. The aggregate redemption price was 100% of the aggregate principal amount of the Subordinated Notes, plus accrued and unpaid interest to, but excluding, the Redemption Date. On and after the Redemption Date, interest ceased to accrue on all of the Subordinated Notes, and all rights with respect to the Subordinated Notes terminated, except only the right of the record holders to receive payment in connection with the redemption.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: January 29, 2021 | Alerus Financial Corporation | |
By: | /s/ Randy L. Newman | |
Name: | Randy L. Newman | |
Title: | Chairman, Chief Executive Officer and President | |
Document and Entity Information |
Jan. 29, 2021 |
|---|---|
| Document and Entity Information [Abstract] | |
| Document Type | 8-K |
| Document Period End Date | Jan. 29, 2021 |
| Entity File Number | 001-39036 |
| Entity Registrant Name | Alerus Financial Corporation |
| Entity Incorporation, State or Country Code | DE |
| Entity Tax Identification Number | 45-0375407 |
| Entity Address, Address Line One | 401 Demers Avenue |
| Entity Address, City or Town | Grand Forks |
| Entity Address, State or Province | ND |
| Entity Address, Postal Zip Code | 58201 |
| City Area Code | 701 |
| Local Phone Number | 795-3200 |
| Written Communications | false |
| Soliciting Material | false |
| Pre-commencement Tender Offer | false |
| Pre-commencement Issuer Tender Offer | false |
| Title of 12(b) Security | Common Stock, $1.00 par value per share |
| Trading Symbol | ALRS |
| Security Exchange Name | NASDAQ |
| Entity Emerging Growth Company | true |
| Entity Ex Transition Period | false |
| Entity Central Index Key | 0000903419 |
| Amendment Flag | false |