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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.
Revenue by Segment
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