Alerus Financial completes acquisition of Metro Phoenix Bank holding company
Maks_Lab/iStock via Getty Images Alerus Financial (NASDAQ:ALRS) has completed the acquisition of MPB BHC (OTCPK:MPHX), the bank holding company for...
Maks_Lab/iStock via Getty Images Alerus Financial (NASDAQ:ALRS) has completed the acquisition of MPB BHC (OTCPK:MPHX), the bank holding company for Metro Phoenix Bank, with a view to increase its presence in Arizona. ALRS has added Metro Phoenix Bank as part of its long-term plan to continually expand its four business segments -banking, retirement and benefits services, wealth management and mortgage. Metro Phoenix Bank client accounts will be transitioned to Alerus systems in Q3. Metro Phoenix Bank President and CEO Steve Haggard is set to join Alerus as president for Arizona market.