Alerus completes acquisition of metro phoenix bank

Grand forks, n.d. & phoenix--(business wire)--alerus financial corporation (“alerus”) (nasdaq: alrs) announced today it has completed the previously announced acquisition of mpb bhc, inc. (otcpink: mphx), the bank holding company for metro phoenix bank. founded in 2007, metro phoenix bank is the largest full-service community bank headquartered in phoenix, with approximately $453 million in total assets, $280 million in total loans, and $402 million in total deposits as of march 31, 2022. metro
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