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Dec 31, 2020
Alerus Q4 2020 Earnings Report
Alerus Financial Corporation reported Q4 2020 results with net income of $10.2 million.
Key Takeaways
Alerus Financial Corporation reported a net income of $10.2 million for Q4 2020, a decrease compared to the previous quarter's $17.7 million and an increase compared to Q4 2019's $7.7 million. The results reflect a record annual net income driven by the company's business strategy and recent acquisition, along with commitment to managing expenses.
Net income for the fourth quarter of 2020 was $10.2 million, or $0.57 per diluted common share.
Return on average assets was 1.34%, compared to 2.42% for the third quarter of 2020.
Net interest margin (tax-equivalent) was 3.23%, compared to 3.17% for the third quarter of 2020.
Mortgage originations totaled $607.2 million, an 18.7% increase from the third quarter of 2020.
Alerus
Alerus
Alerus Revenue by Segment
Revenue by Segment
Retirement Services Revenue
CapyFin.comWealth Management Revenue
CapyFin.comMortgage Banking Revenue
CapyFin.comDeposit Service Charges Revenue
CapyFin.comOther Income Revenue
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