EX-FILING FEES 3 tm223244d4_ex107-1.htm EX-FILING FEES

 

Exhibit 107.1

 

Calculation of Filing Fee Table

 

S-4

(Form Type)

 

Alerus Financial Corporation

(Exact Name of Registrant as Specified in its Charter)

 

Table 1: Newly Registered Securities

 

   Security
Type
  Security
Class Title
   Fee
Calculation
or Carry
Forward
Rule
   Amount
Registered
(1)
   Proposed
Maximum
Offering
Price Per
Unit
   Maximum
Aggregate
Offering Price
   Fee Rate   Amount of
Registration
Fee
   Carry
Forward
Form
Type
   Carry
Forward
File
Number
   Carry
Forward
Initial
Effective
Date
 
  Filing Fee
Previously Paid in
Connection with
Unsold Securities
to be Carried
Forward
 
Newly Registered Securities 
Fees to Be Paid  Equity   Common Stock, $1.00 par value per share     457(c) and 457(f)    204,476    N/A   $5,685,284.00 (2)    $92.70 per $1,000,000   $527.03                     
Fees Previously Paid  Equity   Common Stock, $1.00 par value per share    457(c) and 457(f)    2,584,086    N/A   $72,703,585.74 (3)    $92.70 per $1,000,000   $6,739.62                     
Carry Forward Securities 
Carry Forward Securities                                                          
   Total Offering Amount   $78,388,869.74        $7,266.65                     
   Total Fees Previous Paid             $6,739.62                     
   Total Fee Offsets             $0.00                     
   Net Fee Due             $527.03                     

 

(1)The estimated maximum number of shares of Alerus Financial Corporation (“Alerus”) common stock to be issuable upon completion of the merger of Alerus and MPB BHC, Inc. (“MPB”), as described herein and pursuant to the terms of the Agreement and Plan of Merger between Alerus and MPB, dated as of December 8, 2021, and attached to the proxy statement/prospectus as Appendix A. Pursuant to Rule 416, this Registration Statement also covers an indeterminate number of shares of common stock as may become issuable as a result of stock splits, stock dividends or similar transactions.

 

(2)The proposed maximum aggregate offering price of Alerus’s common stock was calculated based upon the market value of shares of MPB common stock (the securities to be cancelled in the merger) in accordance with Rule 457(f) under the Securities Act as follows: the product of (A) $20.58, the average of the high and low prices per share of MPB common stock as reported on the OTC Pink Market on March 23, 2022 and (B) 276,320, the estimated maximum number of shares of MPB common stock that may be exchanged in the merger that were not already registered in the initial filing of this registration statement, based on the number of shares of MPB common stock outstanding at the time this first amendment to this registration statement was first filed with the SEC.

 

(3)The proposed maximum aggregate offering price of Alerus’s common stock was calculated based upon the market value of shares of MPB common stock (the securities to be cancelled in the merger) in accordance with Rule 457(f) under the Securities Act as follows: the product of (A) $20.82, the average of the high and low prices per share of MPB common stock as reported on the OTC Pink Market on January 18, 2022 (such date being within five business days of the date that this registration statement was first filed with the SEC) and (B) 3,492,007, the estimated maximum number of shares of MPB common stock that may be exchanged in the merger, based on the number of shares of MPB common stock outstanding at the time this registration statement was first filed with the SEC.