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Dec 31, 2023
Alerus Q4 2023 Earnings Report
Alerus Financial Corporation experienced a net loss due to balance sheet repositioning.
Key Takeaways
Alerus Financial Corporation reported a net loss of $14.8 million for Q4 2023, or ($0.73) per diluted common share. The company sold $172.3 million of available-for-sale (AFS) securities, resulting in a one-time pre-tax net loss of $24.6 million. Total deposits increased by $223.4 million, and total loans increased by $149.7 million during the quarter.
Total deposits increased by $223.4 million, reaching $3.1 billion as of December 31, 2023.
Total loans grew by $149.7 million, totaling $2.8 billion as of December 31, 2023.
Net interest margin expanded by 10 basis points to 2.37% in Q4 2023.
The company repurchased $2.1 million of its outstanding stock, reducing common shares outstanding by 118,000.
Revenue by Segment
Historical Earnings Impact
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