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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.
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 specific forward guidance was provided in the earnings report.