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Jun 30, 2023
Alerus Q2 2023 Earnings Report
Alerus Financial Corporation's financial performance improved during the second quarter of 2023, with strategic talent acquisitions and infrastructure optimization.
Key Takeaways
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.
Return on average tangible common equity of 13.71%, compared to 12.58% for the first quarter of 2023
Return on average common equity of 10.14%, compared to 9.17% for the first quarter of 2023
Return on average total assets of 0.96%, compared to 0.88% for the first quarter of 2023
Noninterest expense was $36.4 million, compared to $37.9 million for the first quarter of 2023
Revenue by Segment
Historical Earnings Impact
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Avg. Return Before/After Earnings
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