---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-24-032486"
form_type: "8-K"
ticker: "ALRS"
cik: "0000903419"
company_name: "ALERUS FINANCIAL CORP"
filed_at: "2024-10-29T23:59:59+00:00"
generated_at: "2026-05-30T09:32:22.706516+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Alerus Q3 net income $5.2M ($0.26) down 44% YoY; closes HMN Financial acquisition

## Summary
- Net income $5.2M, $0.26 diluted EPS, vs $9.2M ($0.45) in Q3 2023 and $6.2M ($0.31) in Q2 2024.
- Completed acquisition of HMN Financial on Oct 9, expanding into Rochester, MN; now $5.5B assets, $3.8B loans, $4.3B deposits.
- Noninterest income $28.4M (55.7% of revenue), up 3.6% QoQ; AUA/AUM $45.6B, up 4.8% from Q2.
- Tangible book value $16.50, up 6.7% from year-end; CET1 ratio 11.12%.
- Net charge-offs 0.04% vs 0.36% in Q2; nonaccrual loans increased from two large relationships.

## SEC filing metadata
- accession: 0001437749-24-032486
- form_type: 8-K
- ticker: ALRS
- cik: 0000903419
- company_name: ALERUS FINANCIAL CORP
- filed_at: 2024-10-29T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/903419/000143774924032486/0001437749-24-032486-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/903419/000143774924032486/alrs20240918_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-24-032486
- JSON: https://secwatch.observer/filing/0001437749-24-032486.json
- Plain text: https://secwatch.observer/filing/0001437749-24-032486.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.