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Vetter Galen G reported acquisition or exercise transactions in this Form 4 filing.
Alerus Financial Corp director Galen G. Vetter reported an equity compensation grant of common stock. On May 22, 2026, he received 1,772 shares of common stock at $0.00 per share as an annual director award under the Alerus Financial Corporation 2019 Equity Incentive Plan. These 1,772 shares are restricted stock and bring his directly held common stock to 27,311 shares.
The filing also shows indirect holdings of Alerus common stock through retirement accounts, including 1,318 shares held by a spouse IRA and 25,387 shares held by an IRA. This activity reflects a compensation-related award rather than an open-market purchase or sale.
ESTEP JANET O reported acquisition or exercise transactions in this Form 4 filing.
Alerus Financial Corp director Janet O. Estep received 1,772 shares of common stock as an annual director award under the 2019 Equity Incentive Plan. The stock was granted at no cost and includes 1,772 shares of restricted stock. After this award, she directly holds 14,841 shares.
Alerus Financial Corp director John Uribe reported an acquisition of company stock as part of his annual board compensation. He received 1,772 shares of Common Stock on May 22, 2026 in a grant or award transaction at a stated price of $0.00 per share.
After this award, Uribe directly holds 7,352 shares of Alerus Financial Corp common stock. The filing notes that his holdings now include 1,772 shares of restricted stock issued under the Alerus Financial Corporation 2019 Equity Incentive Plan.
Zimmer Mary reported acquisition or exercise transactions in this Form 4 filing.
Alerus Financial Corp director Mary Zimmer received an annual equity award of 1,772 shares of common stock, issued at no cash cost to her under the Alerus Financial Corporation 2019 Equity Incentive Plan. Following this grant, she directly owns 12,374 shares, including 1,772 shares of restricted stock and 3,809 shares held jointly with her spouse.
Alerus Financial Corp director Nikki Sorum received an equity grant. On May 22, 2026, Sorum acquired 1,772 shares of common stock at $0.00 per share as an annual director award under the 2019 Equity Incentive Plan, bringing her direct holdings to 7,352 shares, including restricted stock.
Newman Randy L reported acquisition or exercise transactions in this Form 4 filing.
Alerus Financial Corp director Randy L. Newman reported a stock grant rather than a market trade. He received 1,772 shares of common stock at no cost as an annual director award under the Alerus Financial Corporation 2019 Equity Incentive Plan, bringing his direct holdings to 309,886 shares, including restricted stock. He also reports additional indirect ownership through shares held by his spouse and in family trusts, one of which he serves as both trustee and beneficiary with sole voting and investment power.
Alerus Financial Corporation reported that its board of directors declared a regular quarterly cash dividend of $0.22 per common share. This represents a 4.76% increase over the dividend paid a year earlier, signaling a modestly higher cash return to shareholders. The dividend will be paid on July 10, 2026 to stockholders who are on record as of the close of business on June 26, 2026.
Alerus Financial Corporation closed the sale of three nonperforming construction, land and development loans with a total net book balance of $33.6 million as of March 31, 2026. These loans were the company’s largest nonperforming relationship and were on nonaccrual status.
The relationship represented 62.3% of total nonperforming loans and 62.1% of total nonperforming assets as of that date. Nonperforming assets to total loans were 1.34%, and would have been 0.51% if this relationship had already been removed.
The loans carried specific reserves of $3.1 million, and there were no historical charge-offs or charge-offs related to this transaction. The sale resulted in recognition of $1.6 million of nonaccrual interest income, which improves reported earnings without incremental credit loss.
Alerus Financial Corporation reported voting results from its 2026 Annual Meeting of Stockholders. As of the March 16, 2026 record date, 25,560,231 common shares were outstanding, and holders of 20,654,357 shares, or approximately 80.81%, were represented, establishing a quorum.
Stockholders elected nine directors to serve until the 2027 annual meeting or until successors are elected and qualified. They also approved, on a non-binding advisory basis, 2025 compensation for named executive officers and ratified the appointment of RSM US LLP as independent registered public accounting firm for the year ending December 31, 2026.
Alerus Financial Corporation reported significantly higher profitability for the quarter ended March 31, 2026. Net income rose to $22.97 million from $13.32 million a year earlier, with basic earnings per share increasing to $0.90 from $0.52.
Net interest income improved to $44.91 million, helped by lower interest expense, while a $4.88 million recovery of credit losses boosted results compared with a prior-year provision. Noninterest income grew to $30.85 million, driven by retirement and benefit services, wealth advisory, and stronger mortgage banking revenue.
Total assets reached $5.29 billion and deposits were $4.35 billion. The allowance for credit losses on loans decreased to $50.51 million, primarily reflecting lower nonperforming loans, while nonaccrual loans declined compared with year-end.