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Mar 31, 2021
Alerus Q1 2021 Earnings Report
Reported a net income of $15.2 million for Q1 2021, an increase compared to the previous quarter and the same period last year.
Key Takeaways
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.
Net income for Q1 2021 was $15.2 million, or $0.86 per diluted common share.
Mortgage originations exceeded $500 million for the quarter.
Retirement and benefits revenue increased over 8% during the quarter.
Wealth management revenue grew almost 4% during the quarter.
Alerus
Alerus
Alerus Revenue by Segment
Revenue by Segment
Retirement Services Revenue
CapyFin.comWealth Management Revenue
CapyFin.comMortgage Banking Revenue
CapyFin.comDeposit Service Charges Revenue
CapyFin.comOther Income Revenue
CapyFin.com Forward Guidance
No forward guidance was provided in the press release.