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Dec 31, 2024
Alerus Q4 2024 Earnings Report
Alerus Financial Corporation reported net income for the fourth quarter of 2024.
Key Takeaways
Alerus Financial Corporation reported a net income of $3.2 million for Q4 2024, with earnings per diluted common share at $0.13. The quarter was marked by the closing and conversion of HMN Financial, Inc., the largest acquisition in the company's history. Performance metrics improved across the board, including a significant expansion in net interest margin and an improved adjusted efficiency ratio.
Net income for Q4 2024 was $3.2 million, or $0.13 per diluted common share.
Total loans reached $4.0 billion as of December 31, 2024, a 31.7% increase from the previous quarter.
Total deposits amounted to $4.4 billion as of December 31, 2024, also a 31.7% increase from the previous quarter.
Adjusted efficiency ratio improved to 69.0% in Q4 2024 from 77.7% in the third quarter of 2024.
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.com Forward Guidance
Alerus plans to continue making long term investments to support and grow our diversified revenue streams while continuing to prudently manage our expenses and remains committed to driving sustainable growth and delivering value to its shareholders. Strategic focus on organic growth, diversification, valuable fee income, and maintaining strong asset quality will continue to guide our efforts in 2025 and beyond.
Positive Outlook
- Continue making long term investments to support and grow our diversified revenue streams
- Prudently manage expenses
- Driving sustainable growth
- Delivering value to shareholders
- Focus on organic growth, diversification, valuable fee income, and maintaining strong asset quality