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Sep 30, 2022
Alerus Q3 2022 Earnings Report
Net income reported at $9.6 million, including $1.8 million of merger expenses from the Metro Phoenix Bank acquisition.
Key Takeaways
Alerus Financial Corporation reported a net income of $9.6 million for Q3 2022, or $0.47 per diluted common share. The seamless integration of Metro Phoenix Bank marks a historic milestone as the Company’s twenty-fifth acquisition.
Net income of $9.6 million included $1.8 million of merger expenses.
Strong loan growth driven by new team members and expansion of client relationships.
Net interest margin (tax-equivalent) was 3.21%.
Noninterest income was 48.82% of total revenue.
Revenue by Segment
Forward Guidance
This press release contains forward-looking statements regarding the anticipated future performance of Alerus Financial Corporation. Actual results and financial condition may differ materially from those indicated in the forward-looking statements due to various factors.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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