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 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.
Alerus Financial Corporation (NASDAQ: ALRS) will release its first quarter 2021 financial results on April 28, 2021. A conference call is scheduled for April 29, 2021, at 10:00 a.m. Eastern Time, where management will discuss the results and answer questions from analysts and investors. The call can be accessed at 1-888-317-6016. A recording and transcript will be available post-call at investors.alerus.com. Alerus, based in Grand Forks, ND, offers diverse financial services including banking, retirement, wealth management, and mortgage.
Alerus Financial Corporation (NASDAQ: ALRS) has completed a private placement of a $50 million Subordinated Note due 2031 with The Bank of North Dakota. The Note features a fixed interest rate of 3.50% until March 30, 2026, after which it will transition to the 5-year FHLB advance rate plus 2.00%, maintaining a minimum annual rate of 3.50%. This issuance qualifies as Tier 2 capital under regulatory guidelines and replaces the previously redeemed 5.75% Fixed-to-Floating Rate Subordinated Notes due 2025. The strategic partnership with BND is expected to enhance Alerus's financial standing.
Alerus Financial Corporation (NASDAQ: ALRS) declared a quarterly cash dividend of $0.15 per share, payable on April 9, 2021. The record date is set for March 19, 2021. Additionally, the Board approved a stock repurchase program allowing the buyback of up to 770,000 shares until February 18, 2024, aimed at enhancing shareholder value. CEO Randy Newman stated that this program is designed to manage capital effectively. Market conditions will dictate repurchase timing, and there are no guarantees of share buybacks.
Alerus Financial Corporation (Nasdaq: ALRS) reported a fourth-quarter net income of $10.2 million, or $0.57 per diluted share, down from $17.7 million in the previous quarter. Despite this decline, annual net income rose 51.2%, totaling $44.7 million for 2020. Key figures include a net interest margin of 3.23%, a 30.5% increase in deposits year-over-year, and a 15% rise in loans since 2019. The company closed its acquisition of Retirement Planning Services, boosting its market presence in the Rocky Mountain region.
Alerus Financial Corporation (NASDAQ: ALRS) will release its fourth quarter and full-year 2020 financial results after market close on January 27, 2021. A conference call to discuss the results is scheduled for January 28, 2021, at 10:00 a.m. Eastern Time. Investors can participate in a question-and-answer session during the call. A recording will be available on their investors homepage post-call. Alerus operates through four segments: banking, retirement and benefit services, wealth management, and mortgage.
Alerus Financial Corporation (NASDAQ: ALRS) has successfully completed its acquisition of Retirement Planning Services, Inc. (RPS), a provider of retirement and health benefits administration. This acquisition enhances Alerus' services for over 1,000 plans and 48,000 participants while expanding its geographic footprint into the Rocky Mountain region. With this eleventh acquisition since 2003, Alerus now manages approximately $31.5 billion in assets. The deal is expected to be immediately accretive, adding an estimated $0.08 to GAAP earnings per share in 2021 and $0.13 in 2022.
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