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 Corp (ALRS) delivers comprehensive financial services through banking, wealth management, and retirement solutions since 1879. This news hub provides investors and stakeholders with essential resource for tracking corporate developments.
Access real-time updates on earnings reports, strategic partnerships, and regulatory filings. Our curated collection features press releases about product innovations, leadership appointments, and market expansion initiatives across ALRS' core service areas.
Key content includes quarterly financial disclosures, merger & acquisition activity, and service enhancements in:
• Commercial & personal banking
• Retirement plan administration
• Wealth management strategies
• Mortgage lending trends
Bookmark this page for streamlined access to verified ALRS information. Combine historical context with current developments to better understand this regional financial leader's market position.
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.
Alerus Financial Corporation (Nasdaq: ALRS) reported a net income of $11.7 million for Q2 2021, reflecting a 23% decline from Q1 2021's $15.2 million. Earnings per diluted share were $0.66, compared to $0.86 in Q1. Notable metrics include a 1.50% return on average total assets, down from 2.02% in Q1, and a net interest margin of 2.88%, which also decreased. Noninterest income fell by 10.1% sequentially due to a drop in mortgage banking revenue. Total loans decreased by 7.3% since December 2020, while deposits rose by 5.4%.
Alerus Financial Corporation (NASDAQ: ALRS) 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 October 8, 2021, to shareholders recorded by the close of business on September 17, 2021. Alerus, headquartered in Grand Forks, ND, provides diversified financial services through segments including banking, retirement and benefit services, wealth management, and mortgage.
Alerus Financial Corporation (NASDAQ: ALRS) will release its second quarter 2021 financial results after the market closes on July 28, 2021. Following this, a conference call is scheduled for 9:00 a.m. CT on July 29, 2021, where analysts and investors can discuss the results in a Q&A session. The call will be accessible via telephone at 1-866-652-5200. A recording and transcript will be available post-call on investors.alerus.com.
Alerus Financial Corporation (NASDAQ: ALRS) has enhanced its U.S. Small Business Administration (SBA) lending capabilities by adding a five-member expert SBA team, led by John Kimball, formerly of MidWestOne Bank. This team, with over 100 years of collective experience, will help to better serve small business clients recovering from the pandemic and those lacking the history for traditional loans. The SBA team will operate in Arizona, Minnesota, North Dakota, and the Twin Cities, aligning with Alerus's mission to enhance clients' financial potential.
Alerus Financial Corporation (NASDAQ: ALRS) has announced a quarterly cash dividend of $0.16 per common share, marking a 6.7% increase from the previous year. The dividend will be paid on July 9, 2021, to shareholders recorded by June 18, 2021. This increase reflects the company's commitment to returning value to its shareholders and demonstrates confidence in its financial position. Alerus operates through four distinct segments, providing services from banking to wealth management.
Alerus Financial Corporation (Nasdaq: ALRS) reported a net income of $15.2 million for Q1 2021, equating to $0.86 per diluted share, a significant increase from $10.2 million in Q4 2020 and $5.4 million in Q1 2020. Key highlights include a return on average total assets of 2.02% and a return on average tangible common equity of 23.03%. The bank's mortgage originations reached $518 million, while retirement revenue grew over 8%. Deposits increased by 5.7% to $145.6 million.
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