ALERUS FINL CORP

Ticker: ALRS CUSIP: 01446U103 Class: Common Stock

Penn Capital Management Company, LLC's Holding History (CIK: 0001158202)

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

Q1 2020

Shares 26,036 Value ($000) $430 Avg Close $16.44 Range $12.36 - $18.89

Q4 2019

Shares 13,587 Value ($000) $310 Avg Close $17.93 Range $17.26 - $19.24

Q3 2019

Shares 43,820 Value ($000) $955 Avg Close $16.34 Range $15.24 - $19.46

Period	Shares	Value ($000)	Average Close	Price Range
Q1 2020	26,036	$430	$16.44	$12.36 - $18.89
Q4 2019	13,587	$310	$17.93	$17.26 - $19.24
Q3 2019	43,820	$955	$16.34	$15.24 - $19.46