Alerus Finl Corp Stock Price, News & Analysis

Alerus Financial (NASDAQ: ALRS) has announced a quarterly cash dividend of $0.20 per common share, representing a 5.26% increase compared to the previous year's dividend. The dividend will be paid on April 11, 2025, to stockholders of record as of March 14, 2025.

Shareholders can access current and historical dividend information, quarterly financial statements, investor presentations, and earnings call transcripts through the company's investor relations website at investors.alerus.com.

Alerus Financial (ALRS) reported Q4 2024 net income of $3.2 million ($0.13 per diluted share), compared to $5.2 million ($0.26) in Q3 2024. The quarter was marked by the completion of HMN Financial acquisition, the largest in company history.

Key Q4 2024 metrics include: net interest income of $38.3 million (up 69.8% from Q3), noninterest income of $33.9 million (46.9% of total revenues), and total loans of $4.0 billion (up 31.7% from Q3). Total deposits reached $4.4 billion, increasing 31.7% from Q3.

Notable improvements include net interest margin expansion to 3.20% (up 97 basis points) and adjusted efficiency ratio improvement to 69.0% from 77.7%. The company maintained strong asset quality with allowance for credit losses on loans at 1.50% of total loans.

Alerus Financial (ALRS) has announced it will release its third quarter financial results on Tuesday, January 28, 2025. The company will host a conference call the following day, Wednesday, January 29, 2025, at 11:00 a.m. Central Time (12:00 p.m. Eastern Time) to discuss these results.

Analysts and institutional investors will have the opportunity to participate in a question-and-answer session. Participants are encouraged to register in advance for the call. The conference call can be accessed via telephone at 1-833-470-1428 using access code 092113. A recording of the call and transcript will be made available on the company's investor relations website following the event.

Alerus Financial (NASDAQ: ALRS) has announced a quarterly cash dividend of $0.20 per common share, representing a 5.26% increase compared to the previous year's dividend. The dividend will be paid on January 17, 2025, to stockholders of record as of December 27, 2024. The dividend declaration was approved by the board of directors on December 11, 2024.

Alerus Financial (Nasdaq: ALRS) announced key leadership changes. Jon Hendry, Executive Vice President and Chief Technology Officer, will retire at year end after 40 years with the company. Karin Taylor, who joined as Chief Risk Officer in 2018, will become Executive Vice President and Chief Operating Officer effective January 1, 2025, overseeing risk management, regulatory compliance, legal, internal audit, operations, and information technology.

Joe Birkholz has joined as Chief Risk Officer, bringing nearly 20 years of industry experience, including previous roles as Chief Risk Officer at Bridgewater Bank and Senior Director of Risk Operations at TCF Financial

Alerus Financial (ALRS) reported Q3 2024 net income of $5.2 million, or $0.26 per diluted share, down from $6.2 million in Q2 2024 and $9.2 million in Q3 2023. The company completed its largest acquisition, expanding into Rochester and Southern Minnesota markets. Total loans increased 9.9% to $3.0 billion, while deposits grew 7.4% to $3.3 billion from December 2023. Noninterest income represented 55.7% of total revenues at $28.4 million. Assets under administration/management reached $45.6 billion, up 4.8% from Q2 2024. Net charge-offs to average loans were 0.04%, and tangible book value per share increased 6.7% to $16.50.

Alerus Financial (Nasdaq: ALRS) has completed its acquisition of HMN Financial, Inc. (Nasdaq: HMNF) in an all-stock transaction valued at approximately $128.8 million. This acquisition, Alerus' largest bank acquisition to date, expands its footprint into Rochester, Minnesota. Home Federal, founded in 1934, brings 12 branches in Minnesota and one each in Iowa and Wisconsin.

As of June 30, 2024, HMNF had $1.1 billion in total assets, including $876.6 million in loans and $983.2 million in deposits. With this addition, Alerus now has approximately $5.5 billion in total assets, $3.8 billion in loans, $4.3 billion in deposits, and $43.6 billion in assets under administration and management across 29 locations.

The integration of Home Federal client accounts into Alerus systems is expected in Q4 2024. Jeffrey Bolton, former HMN Financial board member and ex-Mayo Clinic CAO, has joined Alerus' board of directors.

Alerus Financial (Nasdaq: ALRS) has announced that it will release its third quarter financial results on Tuesday, October 29, 2024. The company will also host a conference call on Wednesday, October 30, 2024, at 11:00 a.m. Central Time (12:00 p.m. Eastern Time) to discuss these results.

Analysts and institutional investors are invited to participate in the question-and-answer session. Attendees are encouraged to register in advance for the call. The conference call can be accessed by telephone at 1-833-470-1428 with access code 572067. A recording of the call and transcript will be made available on the company's investor relations website following the call.

Alerus Financial (Nasdaq: ALRS) and HMN Financial, Inc. (Nasdaq: HMNF) have received all necessary regulatory approvals and stockholder approval to proceed with their merger. The acquisition is expected to close in early Q4 2024, subject to customary conditions. Key points:

• All-stock transaction unanimously approved by both companies' boards
• Stockholders approved the merger on September 12, 2024
• Post-merger, Alerus will have ~$5.5B in total assets, $3.7B in loans, $4.3B in deposits, and $43.1B in assets under administration/management
• Alerus will expand its footprint with 14 new branches across Minnesota, Iowa, and Wisconsin
• Total branch count will increase to 29 locations throughout the Midwest and Arizona