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 reports financial news as a commercial wealth bank and national retirement services provider. Through Alerus Financial, National Association, the company provides banking, wealth services, and retirement and benefit plan services to business and consumer clients, while its retirement and benefit business serves advisors, brokers, employers, and plan participants across the United States.
Recurring developments for ALRS include quarterly earnings, net interest income and margin trends, loan and credit performance, capital and reserve levels, fee-based revenue from wealth and retirement services, balance sheet repositioning, technology and operating investments, and regular common-share dividend declarations.
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.
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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.