Alerus Finl Corp Stock Price, News & Analysis

Alerus Financial Corporation (Nasdaq: ALRS) reported a net income of $8.2 million or $0.40 per diluted share for Q1 2023, down from $10.9 million or $0.53 per share in Q4 2022. This marks a decline from $10.2 million or $0.57 in Q1 2022. The company experienced margin pressures and challenges in the mortgage sector, affecting profitability. CEO Katie Lorenson noted that over 50% of total revenues came from fee income, emphasizing a well-diversified business model. The common equity tier 1 capital ratio was at 13.3%, with total deposits rising by 4.0% to $3.0 billion, while the net interest margin fell to 2.70%. Noninterest income decreased by 1.0% from the previous quarter, primarily due to lower mortgage banking revenues as originations fell by 58.4% due to high interest rates.

Alerus Financial Corporation (NASDAQ: ALRS) will release its first quarter financial results on April 26, 2023. A conference call is scheduled for April 27, 2023, at 11:00 a.m. Central Time, to discuss the financial results and include a Q&A session for analysts and investors. Participants can access the call by dialing 1-844-200-6205 with access code 057461. The call will also be available for replay on the company's investor relations website after the event. Alerus is a diversified financial services company offering banking, wealth management, and retirement services from its locations in North Dakota, Minnesota, and Arizona.

Alerus Financial Corporation (NASDAQ: ALRS) announced a $0.18 quarterly cash dividend, marking a 12.5% increase from the previous year. The dividend is payable on April 14, 2023, to shareholders on record as of March 15, 2023. Alerus is a diversified financial services company offering solutions in banking, retirement, wealth management, and mortgage sectors. The company continues to support its clients with competitive products and digital solutions.

Alerus Financial Corporation (Nasdaq: ALRS) reported a net income of $10.9 million for Q4 2022, translating to $0.53 per diluted share, up from $9.6 million in Q3 2022. The company experienced a 24.1% decline in full-year net income, totaling $40.0 million, compared to $52.7 million in 2021. Notably, a significant acquisition of Metro Phoenix Bank led to a 39.0% increase in loans. The efficiency ratio improved to 69.6% from 74.8% in Q3 2022, while noninterest expenses decreased 11.3%. Despite challenges, Alerus declared an 11% increase in dividends, reflecting ongoing commitment to shareholder returns.

Alerus Financial Corporation (NASDAQ: ALRS) will release its fourth quarter and full-year 2022 financial results on January 25, 2023. A conference call to discuss these results will be held on January 26, 2023, at 11:00 a.m. CT. Analysts and investors are invited to participate in a Q&A session. Interested parties can access the call by dialing 1-844-200-6205 with the access code 249132. A recording will be available at investors.alerus.com following the event.

Alerus Financial Corporation (NASDAQ: ALRS) has announced a quarterly cash dividend of $0.18 per common share, representing a 12.5% increase from the previous year. This dividend will be payable on January 13, 2023, to shareholders of record as of December 23, 2022. Shareholders can access detailed reports, investor presentations, and earnings transcripts on Alerus’ investor relations website.