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Jun 30, 2024
Alerus Q2 2024 Earnings Report
Net income of $6.2 million was reported for Q2 2024.
Key Takeaways
Alerus Financial Corporation reported net income of $6.2 million for the second quarter of 2024, with sequential revenue growth and improved operating leverage.
Total deposits reached $3.3 billion as of June 30, 2024, up 6.6% from December 31, 2023.
Total loans amounted to $2.9 billion as of June 30, 2024, marking a 5.7% increase from December 31, 2023.
Net interest margin was 2.39% in the second quarter of 2024, compared to 2.30% in the first quarter of 2024.
Noninterest income represented 53.3% of total revenues, totaling $27.4 million in the second quarter of 2024.
Revenue by Segment
Forward Guidance
No explicit forward guidance was provided in the release.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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