ALERUS FINL CORP

Ticker: ALRS CUSIP: 01446U103 Class: Common Stock

BASSWOOD CAPITAL MANAGEMENT, L.L.C.'s Holding History (CIK: 0001085393)

Note: Option positions (PUT/CALL) are excluded.

Q4 2025

Shares 60,240 Value ($000) $1,357 Avg Close $21.62 Range $20.12 - $23.60

Q3 2025

Shares 60,240 Value ($000) $1,334 Avg Close $21.76 Range $19.88 - $23.88

Q2 2025

Shares 60,240 Value ($000) $1,304 Avg Close $19.46 Range $15.34 - $21.90

Q1 2025

Shares 60,240 Value ($000) $1,112 Avg Close $19.14 Range $17.30 - $21.15

Q4 2024

Shares 60,240 Value ($000) $1,159 Avg Close $20.92 Range $17.68 - $23.23

Q3 2024

Shares 60,240 Value ($000) $1,378 Avg Close $20.17 Range $17.43 - $21.79

Q2 2024

Shares 60,240 Value ($000) $1,181 Avg Close $18.42 Range $16.87 - $20.39

Q1 2024

Shares 60,240 Value ($000) $1,315 Avg Close $20.31 Range $18.73 - $23.90

Q4 2023

Shares 60,240 Value ($000) $1,349 Avg Close $17.33 Range $15.40 - $21.17

Q3 2023

Shares 60,240 Value ($000) $1,095 Avg Close $17.09 Range $15.52 - $18.53

Q2 2023

Shares 60,240 Value ($000) $1,083 Avg Close $14.58 Range $11.77 - $17.64

Q1 2023

Shares 60,240 Value ($000) $967 Avg Close $17.63 Range $13.75 - $21.12

Q4 2022

Shares 60,240 Value ($000) $1,407 Avg Close $20.02 Range $18.60 - $21.30

Q3 2022

Shares 60,240 Value ($000) $1,331 Avg Close $20.65 Range $17.66 - $22.47

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2025	60,240	$1,357	$21.62	$20.12 - $23.60
Q3 2025	60,240	$1,334	$21.76	$19.88 - $23.88
Q2 2025	60,240	$1,304	$19.46	$15.34 - $21.90
Q1 2025	60,240	$1,112	$19.14	$17.30 - $21.15
Q4 2024	60,240	$1,159	$20.92	$17.68 - $23.23
Q3 2024	60,240	$1,378	$20.17	$17.43 - $21.79
Q2 2024	60,240	$1,181	$18.42	$16.87 - $20.39
Q1 2024	60,240	$1,315	$20.31	$18.73 - $23.90
Q4 2023	60,240	$1,349	$17.33	$15.40 - $21.17
Q3 2023	60,240	$1,095	$17.09	$15.52 - $18.53
Q2 2023	60,240	$1,083	$14.58	$11.77 - $17.64
Q1 2023	60,240	$967	$17.63	$13.75 - $21.12
Q4 2022	60,240	$1,407	$20.02	$18.60 - $21.30
Q3 2022	60,240	$1,331	$20.65	$17.66 - $22.47