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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.
Alerus
Alerus
Alerus Revenue by Segment
Revenue by Segment
Wealth Management Revenue
CapyFin.comMortgage Banking Revenue
CapyFin.com Forward Guidance
No explicit forward guidance was provided in the release.