Alerus Finl Corp - ALRS STOCK NEWS

Alerus Financial Corporation (NASDAQ: ALRS) has declared a quarterly cash dividend of $0.16 per common share, marking a 6.7% increase from the previous year. This dividend will be payable on April 8, 2022, to shareholders recorded by the close of business on March 18, 2022. Alerus provides diverse financial services, including banking and wealth management, and aims to cater to the unique needs of its clients.

Alerus Financial Corporation (NASDAQ: ALRS) will release its fourth quarter and full-year 2021 financial results on January 26, 2022. Following the release, a conference call is scheduled for January 27, 2022, at 9:00 a.m. Central Time. During this call, analysts and investors can engage in a Q&A session to discuss the financial outcomes. Interested participants can access the call via telephone at 1-844-200-6205 with access code 631504. A recording and transcript will be available at their investor relations website.

MPB BHC, INC. (OTCPink:MPHX) announced a merger agreement with Alerus Financial Corporation (NASDAQ:ALRS) on December 8, 2021. The acquisition enhances Alerus' presence in Arizona and marks its twenty-fifth acquisition since 2000. MPB, with approximately $411 million in assets, will be merged into Alerus, creating a combined total of about $439 million in loans and $483 million in deposits in Arizona. MPHX shareholders will receive 0.74 Alerus shares per MPHX share, valuing the deal at $85.3 million. Alerus expects the merger to be accretive to earnings in the first year.

Alerus Financial Corporation (NASDAQ: ALRS) has signed a definitive agreement to acquire MPB BHC, Inc. (OTCPK: MPHX), the parent company of Metro Phoenix Bank, for approximately $85.3 million. This merger, Alerus' 25th acquisition since 2000, aims to enhance its presence in Arizona, potentially placing it as the fifth largest community bank by deposit market share in the Phoenix area. Alerus expects the transaction to be accretive to earnings per share in the first year, while MPHX shareholders will receive 0.74 Alerus shares for each MPHX share owned.

Alerus Financial Corporation (NASDAQ: ALRS) has declared a quarterly cash dividend of $0.16 per share, an increase of 6.7% from last year. The dividend is set to be paid on January 14, 2022, to shareholders of record by December 24, 2021. The company provides diverse financial services through its subsidiary, Alerus Financial, N.A., operating in banking, retirement services, wealth management, and mortgage sectors across various locations including Grand Forks and Fargo, ND.

Alerus Financial Corporation (Nasdaq: ALRS) reported a net income of $13.1 million for Q3 2021, up from $11.7 million in Q2 2021 but down from $17.7 million in Q3 2020. The company achieved a return on tangible common equity of 18.13% and a net interest margin of 2.78%. Total revenue reached $57.2 million, with significant contributions from retirement and wealth management sectors. However, mortgage originations fell 23.8% to $415.8 million. Total assets increased to $3.2 billion, while deposits rose by 5.5% to $2.71 billion since December 2020.

Alerus Financial Corporation (NASDAQ: ALRS) has announced the appointment of three new members to its board of directors: Janet O. Estep, Jill E. Schurtz, and Mary E. Zimmer. Ms. Estep brings significant experience in digital technology and electronic payments, while Ms. Schurtz, CEO of the St. Paul Teachers’ Retirement Fund Association, manages a $1.3 billion investment fund. Ms. Zimmer, with over 35 years in financial services, previously led Wells Fargo Advisors' Northern Region. The company's leadership emphasizes the diverse expertise these new directors will add to the long-term growth strategy.

Alerus Financial Corporation (NASDAQ: ALRS) will release its third quarter 2021 financial results on October 27, 2021. A conference call is scheduled for October 28, 2021, at 9:00 a.m. Central Time to discuss these results. Participants can access the call by dialing 1-412-317-6060. A recording and transcript will be available on the company's investor relations website.

The company operates in four segments: banking, retirement and benefit services, wealth management, and mortgage, providing client-focused financial solutions.

Alerus Financial Corporation (NASDAQ: ALRS) has appointed Katie A. Lorenson as the new President and CEO, effective January 1, 2022. Lorenson, currently the Executive Vice President and CFO, will also join the Board of Directors. She has been instrumental in the company’s growth and strategic direction since joining in 2017. Her predecessor, Randy L. Newman, will transition to Executive Chairman, ensuring a smooth leadership change. The Board expresses confidence in Lorenson's ability to guide the company forward, continuing its trajectory of success and innovation.