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Dec 31, 2025
Alerus Q4 2025 Earnings Report
Reported a Q4 net loss of $33.1 million due to a one-time $68.4 million loss from a strategic balance sheet repositioning.
Key Takeaways
Alerus posted a significant Q4 2025 net loss driven by a strategic sale of securities, despite strength in core operations and fee-based income. Adjusted EPS and margins improved, and tangible book value continued to grow.
Alerus reported a net loss of $33.1 million, or $(1.27) per share, due to a one-time $68.4 million loss on securities repositioning.
Adjusted EPS was $0.85, and adjusted return on average tangible common equity was 21.05%.
Fee-based revenue remained strong with retirement and wealth management contributing $24.7 million in total.
Tangible book value per share rose to $17.55, up 3.8% from Q3.
Revenue by Segment
Forward Guidance
Management expects higher profitability in 2026 driven by strategic repositioning and strong fee-based growth.
Positive Outlook
- Strategic repositioning expected to enhance future profitability.
- High retention following HMNF acquisition integration.
- Strong growth in commercial and industrial loans.
- Robust fee-based revenue in retirement and wealth services.
- Improved adjusted return on tangible equity.
Challenges Ahead
- Large one-time $68.4 million securities loss impacted earnings.
- Net loss of $33.1 million in Q4 due to repositioning.
- Noninterest income showed significant volatility.
- Deposit decline of 4.3% year-over-year.
- High efficiency ratio of over 550% on a GAAP basis due to repositioning.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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