Alerus Earnings Reports

Alerus delivered solid second-quarter results, with net income reaching $20.3 million, driven by higher noninterest income and disciplined expense management. Strategic asset optimization and loan sales further strengthened the balance sheet.

Alerus Financial Corporation reported net income of $13.3 million for the first quarter of 2025, or $0.52 per diluted common share. This represents a significant increase from a net loss in the previous quarter and higher net income compared to the same period last year, driven by balanced growth in loans and deposits, and a strengthened net interest margin.

Alerus Financial Corporation reported a net income of $3.2 million for Q4 2024, with earnings per diluted common share at $0.13. The quarter was marked by the closing and conversion of HMN Financial, Inc., the largest acquisition in the company's history. Performance metrics improved across the board, including a significant expansion in net interest margin and an improved adjusted efficiency ratio.

Alerus Financial Corporation reported a net income of $5.2 million for the third quarter of 2024, or $0.26 per diluted common share. The company completed its acquisition of HMN Financial, expanding into the Rochester and Southern Minnesota markets.

Alerus Financial Corporation reported net income of $6.2 million for the second quarter of 2024, with sequential revenue growth and improved operating leverage.

Alerus Financial Corporation reported a net income of $6.4 million for Q1 2024, or $0.32 per diluted common share. Total deposits reached $3.3 billion, and total loans amounted to $2.8 billion. The company's adjusted net interest margin expanded by 7 basis points, and the loan to deposit ratio decreased to 85.2%.

Alerus Financial Corporation reported a net loss of $14.8 million for Q4 2023, or ($0.73) per diluted common share. The company sold $172.3 million of available-for-sale (AFS) securities, resulting in a one-time pre-tax net loss of $24.6 million. Total deposits increased by $223.4 million, and total loans increased by $149.7 million during the quarter.

Alerus Financial Corporation reported a net income of $9.2 million for the third quarter of 2023, with earnings per diluted common share of $0.45. The company focused on strategic initiatives, maintaining strong deposit retention and a loan to deposit ratio of 90%.

Alerus Financial Corporation reported a net income of $9.1 million for the second quarter of 2023, or $0.45 per diluted common share. The company's diversified business model shined with fee income representing 53.7% of total revenues. Noninterest expenses declined 4% from the prior quarter due to prudent expense management.

Alerus Financial Corporation reported a net income of $8.2 million for Q1 2023, a decrease compared to both the previous quarter ($10.9 million) and the same quarter last year ($10.2 million). The company's performance was impacted by margin pressure and mortgage sector headwinds, but benefited from its diversified business model and strong capital base.

Alerus Financial Corporation reported a net income of $10.9 million, or $0.53 per diluted common share, for the fourth quarter of 2022. The company's return on average total assets was 1.17%, and the net interest margin (tax-equivalent) was 3.09%. Noninterest expense decreased by 11.3% compared to the previous quarter.

Alerus Financial Corporation reported a net income of $9.6 million for Q3 2022, or $0.47 per diluted common share. The seamless integration of Metro Phoenix Bank marks a historic milestone as the Company’s twenty-fifth acquisition.

Alerus Financial Corporation reported a net income of $9.3 million, or $0.52 per diluted common share, for the second quarter of 2022. This compares to a net income of $10.2 million, or $0.57 per diluted common share, for the first quarter of 2022, and a net income of $11.7 million, or $0.66 per diluted common share, for the second quarter of 2021.

Alerus Financial Corporation reported a net income of $10.2 million for Q1 2022, with a return on average tangible common equity of 14.72%. The company experienced strong production in business and consumer segments, but mortgage origination volume was pressured by a lack of housing inventory. Credit quality remained strong with net recoveries and low non-performing loans.

Alerus Financial Corporation reported a net income of $12.7 million for Q4 2021, or $0.72 per diluted common share. The company's performance was supported by its business model, strategy, and culture, with team members executing at exceptional levels. The overall quality of the credit portfolio remained strong, leading to a $1.5 million reversal of provision expense.

Alerus Financial Corporation reported a net income of $13.1 million for Q3 2021, with earnings per diluted common share at $0.74. The company's diversified business model, particularly in retirement, wealth management, and mortgage sectors, drove strong financial performance, achieving a return on tangible common equity of over 18.0%.

Alerus Financial Corporation reported a net income of $11.7 million for the second quarter of 2021, a decrease compared to the previous quarter's $15.2 million. The diluted earnings per common share were $0.66, also lower than the previous quarter's $0.86. The company saw a decrease in net interest income and noninterest income, with mortgage banking revenue particularly affected by a decline in the fair market value of the secondary market hedge.

Alerus Financial Corporation reported a record performance for Q1 2021, with net income reaching $15.2 million, or $0.86 per diluted common share. This is an increase from both the previous quarter ($10.2 million, $0.57 per share) and the first quarter of 2020 ($5.4 million, $0.30 per share). The company saw strong results in its fee income business lines, particularly in mortgage originations, and stable credit quality on the banking side.

Alerus Financial Corporation reported a net income of $10.2 million for Q4 2020, a decrease compared to the previous quarter's $17.7 million and an increase compared to Q4 2019's $7.7 million. The results reflect a record annual net income driven by the company's business strategy and recent acquisition, along with commitment to managing expenses.

Alerus Financial Corporation reported a record quarterly net income of $17.7 million for Q3 2020, driven by the company's diversified business model and focus on client service through advisors and technology. Mortgage originations reached record levels, and relationships expanded across business lines. The company's balance sheet remains strong with a diversified loan portfolio and robust loan loss reserves.

Alerus Financial Corporation reported a record quarterly net income of $11.5 million for the second quarter of 2020, driven by a diversified business model and record mortgage originations.

Alerus Financial Corporation reported a net income of $5.4 million for the first quarter of 2020, with diluted earnings per share of $0.30. The company's performance was influenced by the economic conditions related to COVID-19, leading to an increased allowance for loan losses. However, deposit growth remained strong and noninterest income contributed significantly to revenue.

Alerus Financial Corporation reported net income of $7.7 million for Q4 2019, or $0.43 per diluted common share. The company's strategic initiatives, including raising capital through an IPO and launching a digital experience, contributed to a record net income of $29.5 million for the full year 2019, a 14.2% increase over 2018.