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Sep 30, 2021
Alerus Q3 2021 Earnings Report
Reported a net income of $13.1 million for the third quarter of 2021.
Key Takeaways
Alerus Financial Corporation reported a net income of $13.1 million for Q3 2021, with earnings per diluted common share at $0.74. The company's diversified business model, particularly in retirement, wealth management, and mortgage sectors, drove strong financial performance, achieving a return on tangible common equity of over 18.0%.
Net income for the third quarter of 2021 was $13.1 million, or $0.74 per diluted common share.
Return on average total assets was 1.62%, compared to 1.50% for the second quarter of 2021.
Net interest margin (tax-equivalent) was 2.78%, compared to 2.88% for the second quarter of 2021.
Mortgage originations totaled $415.8 million, a 23.8% decrease from the second quarter of 2021.
Revenue by Segment
Forward Guidance
This document does not contain forward guidance.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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