Welcome to our dedicated page for Alerus Finl news (Ticker: ALRS), a resource for investors and traders seeking the latest updates and insights on Alerus Finl stock.
Alerus Financial Corporation reports financial news as a commercial wealth bank and national retirement services provider. Through Alerus Financial, National Association, the company provides banking, wealth services, and retirement and benefit plan services to business and consumer clients, while its retirement and benefit business serves advisors, brokers, employers, and plan participants across the United States.
Recurring developments for ALRS include quarterly earnings, net interest income and margin trends, loan and credit performance, capital and reserve levels, fee-based revenue from wealth and retirement services, balance sheet repositioning, technology and operating investments, and regular common-share dividend declarations.
Alerus Financial Corporation (NASDAQ: ALRS) will release its fourth quarter and full-year 2020 financial results after market close on January 27, 2021. A conference call to discuss the results is scheduled for January 28, 2021, at 10:00 a.m. Eastern Time. Investors can participate in a question-and-answer session during the call. A recording will be available on their investors homepage post-call. Alerus operates through four segments: banking, retirement and benefit services, wealth management, and mortgage.
Alerus Financial Corporation (NASDAQ: ALRS) has successfully completed its acquisition of Retirement Planning Services, Inc. (RPS), a provider of retirement and health benefits administration. This acquisition enhances Alerus' services for over 1,000 plans and 48,000 participants while expanding its geographic footprint into the Rocky Mountain region. With this eleventh acquisition since 2003, Alerus now manages approximately $31.5 billion in assets. The deal is expected to be immediately accretive, adding an estimated $0.08 to GAAP earnings per share in 2021 and $0.13 in 2022.
Alerus Financial Corporation (NASDAQ: ALRS) has announced its acquisition of Retirement Planning Services, Inc. (RPS), enhancing its retirement and health benefits services. RPS manages over 1,000 plans and 48,000 participants, expanding Alerus' footprint in the Rocky Mountain region. This marks Alerus' eleventh acquisition since 2003 and is expected to boost its assets under administration to approximately $31.5 billion. The all-cash deal is projected to be accretive to Alerus’ GAAP earnings, contributing an estimated $0.08 in 2021 and $0.13 in 2022.
Alerus Financial Corporation (NASDAQ: ALRS) has declared a quarterly cash dividend of $0.15 per share, payable on January 8, 2021, to shareholders on record as of December 18, 2020. This dividend reflects the company's ongoing commitment to returning value to its shareholders. Comprehensive financial and historical dividend information is accessible via Alerus' investor relations website.
Alerus Financial Corporation (Nasdaq: ALRS) reported a record net income of $17.7 million for Q3 2020, equating to $0.99 per diluted share, compared to $11.5 million in Q2 2020 and $7.1 million in Q3 2019. Highlights include a 2.42% return on average assets, 3.17% net interest margin, and a 24.9% increase in deposits from December 2019. Mortgage originations rose by 18.5% to $511.6 million. CEO Randy Newman emphasized the strength of the diversified business model amid economic challenges, highlighting robust loan loss reserves at 1.83% of total loans.
Alerus Financial Corporation (NASDAQ: ALRS) will release its third quarter 2020 financial results on October 28, 2020. A conference call will follow on October 29, 2020, at 9:00 a.m. Central Time to discuss the outcomes. Participants will have the opportunity for a Q&A session during the call. A recording and transcript will be available post-call at investors.alerus.com. Alerus operates in banking, retirement services, wealth management, and mortgage, with offices in several states.