What is Alerus Financial Corporation's Shariah compliance score?

Alerus Financial Corporation's (ALRS) compliance score is being calculated. Check HalalScreener.app for the latest AAOIFI screening results.

Does Alerus Financial Corporation pass AAOIFI screening?

Alerus Financial Corporation (ALRS) does not pass AAOIFI Shariah screening. AAOIFI requires: (1) no primary involvement in prohibited activities like alcohol, gambling, or conventional banking, (2) debt-to-market-cap below 30% (ALRS: 56.8%), (3) interest-bearing deposits below 30% (ALRS: 8.9%), and (4) prohibited income below 5% (ALRS: 85.3%). HalalScreener provides free AAOIFI screening for 10,000+ stocks at halalscreener.app.

How much purification is needed for Alerus Financial Corporation stock?

Alerus Financial Corporation (ALRS) has a non-permissible income ratio of 85.29%. Muslim investors should purify this percentage of any dividends received and capital gains realized from ALRS shares by donating it to charity. HalalScreener's purification calculator at halalscreener.app/en/purification automates this calculation using the latest financial data.

Where can I screen Alerus Financial Corporation for Shariah compliance for free?

HalalScreener (halalscreener.app) offers free Shariah compliance screening for Alerus Financial Corporation (ALRS) and 10,000+ other US-listed stocks, ETFs, and 100+ cryptocurrencies. The screening uses AAOIFI Standard No. 21 and shows all financial ratios transparently. No credit card or signup required for basic screening. HalalScreener also includes an AI Islamic Scholar for follow-up questions about ALRS's compliance across different madhabs (Hanafi, Shafi'i, Maliki, Hanbali, Ja'fari).

ALRS: Is Alerus Financial Corporation Halal?

Alerus Financial Corporation

NASDAQFinancial ServicesUS

$30.87

+1.75%

Market Cap: 775.7M

Compliance Status

Not Halal

Screened on Jul 18, 2026 · AAOIFI Standard 21

Non-Compliant

0Score

Is Alerus Financial Corporation (ALRS) halal? Not Halal. Based on AAOIFI screening, Alerus Financial Corporation has involvement in prohibited business activities with a compliance score of 0/100 (Grade: F).

AvoidBorderlineClean

Business activity

Involved in prohibited business activities.

Failed

Company debt

Over the limit

How much the company borrows, compared to its total value. AAOIFI allows up to 30%.

56.8% of 30.0% limit

What this means for you

Most scholars advise not holding ALRS

It does not pass AAOIFI Shariah screening.

See halal alternatives from the same sector further down this page

About Alerus Financial Corporation

Alerus Financial Corporation, operating primarily through its subsidiary Alerus Financial, National Association, delivers a broad spectrum of financial services to both commercial clients and individual consumers. The company organizes its operations across four distinct segments: Banking, Retirement and Benefit Services, Wealth Management, and Mortgage. Within its Banking segment, Alerus provides a comprehensive array of deposit solutions, including checking, savings, money market, and certificate of deposit accounts. It also supports businesses with robust treasury management products like electronic receivables management, remote deposit capture, cash vault services, and other cash management tools. Lending solutions encompass various commercial loans, such as business term loans, lines of credit, commercial real estate financing, and construction and land development loans, alongside consumer offerings like residential first and second mortgages and installment loans. The Retirement and Benefit Services division focuses on administering retirement plans, providing investment advisory services, managing employee stock ownership plans (ESOPs), and offering payroll, health savings accounts (HSAs), and other employee benefits, including individual retirement accounts (IRAs). Through Wealth Management, clients can access financial planning, investment management, personal and corporate trust services, estate administration, and custodial solutions. Additional offerings extend to debit and credit cards, modern online and mobile banking platforms, secure payment solutions, and exclusive private banking privileges, as well as flex spending accounts and government health insurance program services. Geographically, the company's banking services are delivered through fourteen offices located in North Dakota, Minnesota, and Arizona. Its Retirement and Benefit Services, however, boast a national footprint, serving clients in all 50 states from offices situated in Michigan, Minnesota, and Colorado. Founded in 1879, Alerus Financial Corporation was originally known as First National Bank North Dakota before adopting its current name in 2000. The company maintains its headquarters in Grand Forks, North Dakota.

Sector: Financial Services · Industry: Banks - Regional

Shariah Compliance Status

AAOIFI Standard 21Updated Jul 18, 2026

Business Activity Screen

Failed

Checks if the business is involved in prohibited activities (alcohol, gambling, pork, conventional banking, etc.)

Prohibited industry: Banks - Regional

Compliance History

Not Halal, unchanged since May 2026.

No status changes recorded since we began tracking.

Tracked since May 2026. Updates automatically on each re-screen.

Fiscal: FY 2025Data source: FMP

Halal Alternatives in Financial Services

This stock is not Shariah-compliant. Here are halal alternatives from the same sector, ranked by compliance score:

GLDA+

SPDR Gold Shares

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+0.17%

SLVA+

iShares Silver Trust

$50.78

+0.47%

PSLVA+

Sprott Physical Silver Trust

$21.30

+6.23%

PHYSA+

Sprott Physical Gold Trust

$31.75

+0.19%

ABA+

AllianceBernstein Holding L.P.

$36.03

-1.13%

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JPMorgan Chase & Co.

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A+

PYPL

PayPal Holdings, Inc.

C+

BAC

Bank of America Corporation

WFC

Wells Fargo & Company

Free · No credit card required

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Frequently Asked Questions

Is Alerus Financial Corporation (ALRS) halal to invest in?

Alerus Financial Corporation (ALRS) is rated Not Halal under AAOIFI Standard 21 screening. It fails either the business activity screen (primary involvement in prohibited sectors such as conventional banking, alcohol, or gambling) or one of the quantitative financial ratio thresholds. Muslim investors should avoid or exit this position.

Why did Alerus Financial Corporation get a F compliance rating?

Alerus Financial Corporation (ALRS) received a grade of F (Non-Compliant) based on three AAOIFI Standard 21 financial ratios: debt-to-market-cap of 56.8% (limit 30%); interest-bearing deposits of 8.9% (limit 30%); prohibited income of 85.29% (limit 5%). The grade reflects the margin of safety across all three ratios relative to their thresholds.

What could change Alerus Financial Corporation's Shariah verdict?

Alerus Financial Corporation's verdict is re-evaluated at each annual re-screen. Three events could change it: (1) the debt-to-market-cap ratio crossing 30%, typically from new debt issuance or a major drop in share price; (2) interest-bearing deposits exceeding 30% of market cap; or (3) prohibited revenue (alcohol, gambling, conventional finance, etc.) exceeding 5% of total revenue. Verdict flips are tracked in the compliance history section above.

How often is Alerus Financial Corporation re-screened for Shariah compliance?

Alerus Financial Corporation (ALRS) is re-screened annually using the most recent full-year financial data from SEC filings. HalalScreener also triggers an on-demand re-screen whenever the stored data is more than 7 days old, ensuring the ratios reflect the latest available financial statements. Last screened: Jul 18, 2026.

Screened according to AAOIFI Standard No. 21 · For informational purposes only. Consult a qualified Islamic finance advisor before investing.

Disclaimer: This screening is for informational purposes only and does not constitute financial, legal, or religious advice. Compliance is evaluated using AAOIFI financial standards (debt, deposits, and prohibited income ratios) and publicly available data. Ethical, political, social, or environmental considerations are outside the scope of this screening. Individual scholars and methodologies may differ. Always consult a qualified Islamic finance advisor before making investment decisions.