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Mar 31, 2023
Alerus Q1 2023 Earnings Report
Alerus Financial Corporation's net income decreased in Q1 2023 compared to Q4 2022 and Q1 2022.
Key Takeaways
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.
Total deposits increased by 4.0% compared to the previous quarter, reaching $3.0 billion.
Common equity tier 1 capital ratio was 13.30%.
Net interest margin decreased to 2.70% from 3.09% in the previous quarter.
Noninterest income was 51.63% of total revenue.
Revenue by Segment
Forward Guidance
No specific forward guidance was provided in the earnings report.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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