Inferra AI / Company / ALRS

Alerus Financial Corp

ALRS · Financials

Last earnings Oct 28, 2026

Key results

Net incomequarter

$16.9 million

net income of $16.9 million, or $0.65 per diluted common share, for the third quarter of 2025 , and a net loss of $ 0.1 million, or $0.00 per diluted common share, for the fourth quarter of 2024 .

SEC original ↗Alerus Financial Corp — Earnings release (8-K exhibit)EX-99Jan 28, 2026

Revenuequarter

$25.3 million

Adjusted pre-provision net revenue (non-GAAP) (1) was $25.3 million, compared to $22.1 million for the third quarter 2025.

SEC original ↗Alerus Financial Corp — Earnings release (8-K exhibit)EX-99Jan 28, 2026

Strong banking operating results were bolstered by differentiated and durable fee-based revenue, where Alerus maintained our position as an industry leader with adjusted noninterest income as a percentage of revenue (non-GAAP) (1) of 40.77% .

SEC original ↗Alerus Financial Corp — Earnings release (8-K exhibit)EX-99Jan 28, 2026

Pre-provision net revenue of $( 43.7 ) million; adjusted pre-provision net revenue (non-GAAP) (1) of $25.3 , an increase of 14.3% from $22.1 in the third quarter of 2025.

SEC original ↗Alerus Financial Corp — Earnings release (8-K exhibit)EX-99Jan 28, 2026

Pre-provision net revenue of $23.1 million; adjusted pre-provision net revenue (non-GAAP) (1) of $91.5 million, an increase of 82.0% from $50.2 million for the full year 2024.

SEC original ↗Alerus Financial Corp — Earnings release (8-K exhibit)EX-99Jan 28, 2026

Wealth management revenue increase d $0.9 million, or 13.4% , from the third quarter of 2025 , primarily driven by asset-based fees.

SEC original ↗Alerus Financial Corp — Earnings release (8-K exhibit)EX-99Jan 28, 2026

Retirement and benefit services revenue increase d $0.8 million, or 4.6% , from the third quarter of 2025 , primarily driven by both asset-based and transaction-based fees.

SEC original ↗Alerus Financial Corp — Earnings release (8-K exhibit)EX-99Jan 28, 2026

Retirement and benefit services revenue increase d $0.8 million, or 4.7% , in the fourth quarter of 2025 compared to the fourth quarter of 2024 , primarily driven by asset-based fees, due to a 10.3% increase in assets under administration/management during that same period.

SEC original ↗Alerus Financial Corp — Earnings release (8-K exhibit)EX-99Jan 28, 2026

AI analysis

Q3 2025 · reported Jan 28, 2026

Based on: Earnings release + Q3 2025 deck + parent 8-K + 10-Q — transcript not held

Revenue · Q3 2025

$25.3M

EX-99 · Jan 28, 2026

Net income · Q3 2025

$16.9M

EX-99 · Jan 28, 2026

Headline figures

Metric	Q3 2025	Prior qtr	Year ago
Net income	$16.9 million	—	—
Revenue	$25.3 million	—	—

EX-99 · Jan 28, 2026

Guidance · company-stated

No guidance located in the held release

Next earningsNo verified date on fileNo date is estimated or imported

Capital allocation

Interest expense decrease d $2.3 million, or 8.3% , from the third quarter of 2025 , as the average rates paid on deposits and borrowings declined.

Interest expense decrease d $3.8 million, or 13.1% , from the fourth quarter of 2024 , as the average rates paid on deposits and borrowings declined, which more than offset the increase in interest-bearing deposits and borrowing balances.

General educational research only — not investment advice.Every figure is as stated in the held documents; values marked “computed from stated figures” are arithmetic on those stated figures. Guidance shown is the company’s own stated guidance. No price targets, no recommendations, no consensus estimates.

Event summary

Alerus Financial Corp Q3 2025 — net income of $16.9 million, or $0.65 per diluted common share, for the third quarter of 2025 , and a net loss of $ 0.1 million, or $0.00 per diluted common share, for the fourth quarter of 2024 .

Based on: Earnings release + Q3 2025 deck + parent 8-K + 10-Q — transcript not held

Guidance & outlook

No guidance located in the held release

Capital allocation

Interest expense decrease d $2.3 million, or 8.3% , from the third quarter of 2025 , as the average rates paid on deposits and borrowings declined.

SEC original ↗Alerus Financial Corp — Earnings release (8-K exhibit)EX-99Jan 28, 2026

The Company does not believe that the AFS debt securities that were in an unrealized loss position as of June 30, 2026 represented a credit loss impairment.

SEC original ↗Alerus Financial Corp — 10-Q Quarterly report10-QAug 3, 2026

The ACL on HTM debt securities is estimated using relevant information, from internal and external sources, relating to past events, current conditions, and reasonable and supportable forecasts.

SEC original ↗Alerus Financial Corp — 10-Q Quarterly report10-QAug 3, 2026

Using a probability of default and loss given default analysis, the ACL on HTM debt securities was $ 115 thousand and $ 123 thousand as of June 30, 2026 and December 31, 2025 , respectively.

SEC original ↗Alerus Financial Corp — 10-Q Quarterly report10-QAug 3, 2026

The change in the ACL on HTM debt securities was due to a change in the provision for credit losses, with no charge-offs or recoveries for the three and six months ended June 30, 2026 .

SEC original ↗Alerus Financial Corp — 10-Q Quarterly report10-QAug 3, 2026

Strategy & priorities

During the fourth quarter of 2025, the Company sold $360.1 million of available-for-sale securities as part of a strategic balance sheet repositioning.

SEC original ↗Alerus Financial Corp — Earnings release (8-K exhibit)EX-99Jan 28, 2026

We also took decisive strategic action to position the company for the next stage of growth.

SEC original ↗Alerus Financial Corp — Earnings release (8-K exhibit)EX-99Jan 28, 2026

Our strategic balance sheet repositioning removed the drag of legacy low-yielding securities, and positions Alerus for higher profitability in 2026 and beyond.

SEC original ↗Alerus Financial Corp — Earnings release (8-K exhibit)EX-99Jan 28, 2026

While we will continue to invest in people and technology, we are very focused on delivering positive operating leverage to drive returns and tangible book value growth higher.

SEC original ↗Alerus Financial Corp — Earnings release (8-K exhibit)EX-99Jan 28, 2026

Our disciplined focus on shareholder value translated into tangible book value growth of 21.54% from the prior year, supported by a fourth quarter adjusted return on average tangible equity (non-GAAP) (1) of 21.05% .

SEC original ↗Alerus Financial Corp — Earnings release (8-K exhibit)EX-99Jan 28, 2026

Risks & headwinds

Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control.

SEC original ↗Alerus Financial Corp — Earnings release (8-K exhibit)EX-99Jan 28, 2026

Legal Proceedings 65 Item 1A.

SEC original ↗Alerus Financial Corp — 10-Q Quarterly report10-QAug 3, 2026

This conversion will not occur until the settlement of certain litigation which will be indemnified by Visa members, including the Company.

SEC original ↗Alerus Financial Corp — 10-Q Quarterly report10-QAug 3, 2026

Visa funded an escrow account from its initial public offering to settle these litigation claims.

SEC original ↗Alerus Financial Corp — 10-Q Quarterly report10-QAug 3, 2026

Should this escrow account be insufficient to cover these litigation claims, Visa is entitled to fund additional amounts to the escrow account by reducing each member bank s Class B conversion ratio to unrestricted Class A shares.

SEC original ↗Alerus Financial Corp — 10-Q Quarterly report10-QAug 3, 2026

Based on the existing transfer restriction and the uncertainty of the outcome of the Visa litigation mentioned above, the 6,924 Class B shares ( 10,694 Class A equivalents) that the Company owned as of June 30, 2026 and December 31, 2025 , were carried at a zero cost basis.

SEC original ↗Alerus Financial Corp — 10-Q Quarterly report10-QAug 3, 2026

Documents

Earnings deck slides

0 decks with slide view

Alerus Financial Corp — Presentation / slide deck (8-K exhibit) — Slide view unavailable — this deck was filed as a web document, whose text has no page boundaries.

Competitors