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Alerus Financial Corp - ALRS STOCK NEWS

Welcome to our dedicated news page for Alerus Financial (Ticker: ALRS), a resource for investors and traders seeking the latest updates and insights on Alerus Financial.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Alerus Financial's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Alerus Financial's position in the market.

News
Alerus Financial Corporation Reports First Quarter 2024 Net Income of $6.4 Million
Rhea-AI Summary
Alerus Financial reported a net income of $6.4 million for Q1 2024, showing significant growth compared to the previous quarters. The CEO highlighted strong production, client acquisition, and fee income growth across all business lines. Total deposits and loans increased, while net interest margin expanded. The company's efficiency ratio decreased, maintaining a strong balance sheet. Despite inflationary headwinds, the company remains focused on long-term success.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-2.19%
Tags
earnings
-
News
Alerus Financial Corporation to Announce First Quarter Financial Results on Wednesday, April 24
Rhea-AI Summary
Alerus Financial (ALRS) will release its first quarter financial results on April 24, 2024, followed by a conference call on April 25, 2024, at 11:00 a.m. Central Time. Analysts and investors can participate in the Q&A session. Details for registration and access are provided in the press release.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-2.1%
Tags
earnings
-
News
Alerus Financial Corporation Declares Cash Dividend on Common Shares
Rhea-AI Summary
Alerus Financial Corporation (ALRS) declared a 5.56% increase in its regular quarterly cash dividend to $0.19 per common share. The dividend will be payable on April 12, 2024, to stockholders of record as of March 15, 2024.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.21%
Tags
dividends
News
Alerus Financial Corporation Names Forrest Wilson Chief Retirement Services Officer
Rhea-AI Summary
Alerus Financial Corporation (ALRS) appointed Forrest Wilson as Executive Vice President and Chief Retirement Services Officer. With over 25 years of experience in the retirement industry, Wilson will lead Alerus' retirement and benefits division, overseeing thousands of advisors, 8,000 employer-sponsored plans, and 474,000 participants nationwide.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-2.34%
Tags
none
-
News
Alerus Financial Corporation Announces Fourth Quarter 2023 Results, Including Balance Sheet Repositioning
Rhea-AI Summary
Alerus Financial Corporation (ALRS) reported a net loss of $14.8 million for Q4 2023, compared to net income of $9.2 million in Q3 2023. The company sold $172.3 million of AFS securities resulting in a one-time pre-tax net loss of $24.6 million. Adjusted pre-provision net revenue was $9.0 million. Total deposits and loans increased. Net interest margin expanded to 2.37%. Noninterest income decreased due to balance sheet repositioning. Noninterest expenses increased. Total assets were $3.9 billion. Total nonperforming assets increased to $8.8 million. Tangible book value per common share increased to $15.46.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
5.84%
Tags
earnings
-
News
Alerus Financial Corporation to Announce Fourth Quarter and Full-Year 2023 Financial Results on Wednesday, January 24
Rhea-AI Summary
Alerus Financial Corporation (ALRS) to release Q4 and full-year 2023 financial results on January 24, 2024, followed by a conference call on January 25, 2024. Analysts and institutional investors can participate in the Q&A session. Details for the call and transcript availability provided.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.01%
Tags
earnings
News
Alerus Financial Corporation Sells $172.3M of Debt Securities and Uses Proceeds to Fund Loan Growth, Cut Borrowings
Rhea-AI Summary
Alerus Financial Corporation (NASDAQ: ALRS) completed the sale of $172.3 million of available-for-sale securities resulting in a one-time pre-tax net loss of $24.7 million. The proceeds will be reinvested into loans for clients and paying down borrowings. The restructuring has no impact on tangible capital, improves the net interest margin, and positions the company for higher earnings in 2024.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.63%
Tags
none
-
News
Alerus Financial Corporation Declares Cash Dividend on Common Shares and Announces New Stock Repurchase Program
Rhea-AI Summary
Alerus Financial Corporation (ALRS) has declared a 5.56% increase in its regular quarterly cash dividend to $0.19 per common share. The dividend is payable on January 12, 2024, to shareholders of record as of December 27, 2023. The company also approved a new stock repurchase program authorizing the repurchase of up to 1,000,000 shares of its common stock.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.82%
Tags
buyback dividends
-
News
Nikki Sorum, John Uribe Join Board of Directors for Alerus Financial Corporation
Rhea-AI Summary
Alerus Financial Corporation (ALRS) announces the addition of Nikki Sorum and John Uribe to its board of directors. Sorum brings 40 years of experience in the financial services industry, having held leadership roles at Thrivent Financial, RBC Wealth Management, and McKinsey & Co. Uribe brings over 30 years of financial and strategic leadership experience, currently serving as CFO at Blue Cross and Blue Shield of Minnesota.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.82%
Tags
management
News
Alerus Financial Corporation Reports Third Quarter 2023 Net Income of $9.2 Million
Rhea-AI Summary
Alerus Financial Corporation reported net income of $9.2 million for Q3 2023, compared to $9.1 million for Q2 2023. CEO Katie Lorenson highlighted strong deposit retention and acquisition, as well as a focus on building a valuable commercial wealth bank. Total deposits remained stable at $2.9 billion, and noninterest income increased by 10.2%, driven by the sale of the ESOP trustee business.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.66%
Tags
earnings
Stock ALRS logo
Alerus Financial Corp

Nasdaq:ALRS

ALRS Rankings

#3156 Ranked by Market Cap
#3460 Ranked by Stock Gains
#925 Ranked by Dividends

ALRS Stock Data

396.72M
17.52M
11.3%
45.97%
2.01%
Commercial Banking
Finance and Insurance
Link
US
Grand Forks

About ALRS

with roots tracing back to 1879, alerus is a financial services company offering banking, mortgage, retirement, health and welfare, and wealth management. banking offices are located in minnesota, north dakota, and arizona. retirement services offices are located in minnesota, michigan, and new hampshire.