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) 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.
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.
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