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 (Nasdaq: ALRS) is a commercial wealth bank and national retirement services provider whose news flow reflects its mix of banking, wealth, and retirement and benefit businesses. Company announcements regularly highlight financial results, capital actions, and strategic balance sheet decisions, giving investors insight into how management is steering the organization within the commercial banking and financial services sector.
ALRS news often includes quarterly earnings releases, where Alerus reports net income, net interest income, net interest margin, noninterest income, and performance ratios such as return on average total assets and return on average tangible common equity. These releases also discuss trends in loans, deposits, retirement and benefit services assets under administration and management, and wealth management assets, providing context on growth and business mix.
Another recurring news theme is dividend declarations. The board of directors has announced regular quarterly cash dividends on common shares, and press releases describe dividend amounts and record and payment dates. Management commentary in earnings releases and other announcements emphasizes a diversified business model, fee income from retirement, benefits, and wealth management, and actions taken to manage credit risk and optimize the balance sheet, such as securities portfolio restructuring and loan sales.
Investors following ALRS news can also expect updates on conference calls and investor presentations, which are typically scheduled around earnings dates and made available to analysts and institutional investors. These communications, along with related SEC filings, help market participants track Alerus’ strategic priorities, capital management, and financial performance over time. For ongoing coverage of ALRS, this news page aggregates company press releases and other relevant updates in one place.
Alerus Financial Corporation (NASDAQ: ALRS) announced leadership changes as part of its management succession plan. Chief Shared Services Officer Ann McConn will retire on January 6, 2023, transitioning responsibilities to Missy Keney, who will become Chief Engagement Officer, and Jon Hendry, who will take on the role of Chief Technology Officer. Keney, with 17 years at Alerus, will focus on engagement strategies, while Hendry, a 38-year veteran, will lead technology initiatives. CEO Katie Lorenson emphasized the strong leadership within the company as they aim for continued financial performance.
Alerus Financial Corporation (ALRS) has successfully completed its acquisition of MPB BHC, Inc. (MPHX), marking the largest bank acquisition in its history. This all-stock transaction enhances Alerus' presence in Arizona, positioning it as the fifth largest community bank in the Phoenix metropolitan area with approximately $516 million in total deposits. MPB BHC, with $453 million in total assets, specializes in serving small to medium-sized businesses. The acquisition aligns with Alerus' long-term growth strategy across its business segments.
Alerus Financial Corporation (NASDAQ: ALRS) will release its second quarter 2022 financial results on July 27, 2022. Subsequently, a conference call will be held on July 28, 2022, at 11:00 a.m. Central Time, allowing analysts and investors to participate in a Q&A session. Interested parties can access the call by dialing 1-844-200-6205 with access code 874956. A recording and transcript of the call will be available for review on the company's investor relations page.
Alerus Financial Corporation (Nasdaq: ALRS) has announced that Jim Collins will join as Executive Vice President and Chief Banking and Revenue Officer, effective May 31, 2022. With nearly 30 years of experience in financial services, Collins previously led corporate banking for Old National Bank and has a strong background in commercial banking. His role will focus on revenue-related activities, driving strategies for growth and client solutions. Alerus aims to enhance its leadership team and support its growth plans with Collins' expertise.
Alerus Financial Corporation (NASDAQ: ALRS) announced the appointment of Dan Coughlin as Chairman of the Board, effective May 10, 2022. He succeeds Randy Newman, who served as Executive Chairman and will remain a director. The leadership transition supports current CEO Katie Lorenson, emphasizing continuity and a shared vision for the company's future. Mr. Coughlin brings over 40 years of experience in financial services, including strategic planning and mergers. Alerus operates in banking, retirement services, wealth management, and mortgage sectors, focusing on delivering comprehensive financial solutions.
Alerus Financial Corporation (NASDAQ: ALRS) announced a $0.18 quarterly cash dividend per share, marking a 12.5% increase from last year. The dividend is payable on July 8, 2022, to shareholders of record by June 17, 2022. This increase reflects the company's commitment to delivering shareholder value. For more financial details, Alerus provides comprehensive information on its investor relations website.
Alerus Financial Corporation (Nasdaq: ALRS) reported a net income of $10.2 million for Q1 2022, down from $12.7 million the previous quarter and $15.2 million a year prior, reflecting a drop in earnings per diluted share to $0.57. Mortgage originations plunged 47.7% to $186.8 million due to inventory shortages, while noninterest income declined 12.6%. Effective expense management led to a 7.8% reduction in noninterest expenses. However, total assets decreased 1.7% to $3.3 billion. The company's capital ratios showed some decline, raising concerns about future financial health.
Alerus Financial Corporation (NASDAQ: ALRS) will release its first quarter 2022 financial results on April 27, 2022. Following this, a conference call will take place on April 28, 2022, at 10:00 a.m. Eastern Time, where analysts and investors can engage in a Q&A session. Interested participants can access the call by dialing 1-844-200-6205 with the access code 164479. A recording and transcript will be available afterwards at the company’s investor relations website.
Alerus Financial Corporation (NASDAQ: ALRS) has appointed Alan Villalon as Chief Financial Officer and Executive Vice President, succeeding Katie Lorenson. Villalon brings over 25 years of financial services expertise, previously serving at U.S. Bank in investor relations. Jerrod Hanson has been promoted to Chief Accounting Officer, overseeing corporate accounting functions. President Lorenson expressed confidence in the new leadership team, highlighting Villalon's analytical skills and Hanson's extensive accounting experience as pivotal for the company's growth.
Alerus Financial Corporation (Nasdaq: ALRS) reported fourth-quarter net income of $12.7 million, or $0.72 per diluted share, down from $13.1 million in Q3 2021. For full-year 2021, net income reached $52.7 million, a 17.9% increase compared to 2020. Key metrics included a return on average total assets of 1.50% and a net interest margin of 2.84%. Alerus also announced the acquisition of Metro Phoenix Bank, marking its twenty-fifth acquisition since 2000. Total deposits rose by 13.6% year-over-year, while noninterest income decreased 12.9% amid a decline in mortgage banking revenues.
FAQ
What is the current stock price of Alerus Finl (ALRS)?
What is the market cap of Alerus Finl (ALRS)?
