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Mar 31, 2024
Alerus Q1 2024 Earnings Report
Reports first quarter 2024 results, with net income of $6.4 million.
Key Takeaways
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%.
Total deposits were $3.3 billion, an increase of $189.4 million, or 6.1%, from December 31, 2023
Total loans were $2.8 billion, an increase of $39.9 million, or 1.4%, from December 31, 2023
Net interest margin was 2.30%, while adjusted net interest margin increased 7 basis points to 2.44%
Total assets under administration/management were $42.7 billion, a 5.0% increase from December 31, 2023
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.