---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-25-007626"
form_type: "8-K/A"
ticker: "ALRS"
cik: "0000903419"
company_name: "ALERUS FINANCIAL CORP"
filed_at: "2025-03-14T23:59:59+00:00"
generated_at: "2026-05-24T20:05:08.638723+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Alerus Financial amends Q4/FY2024 earnings to correct goodwill accounting from HMNF acquisition

## Summary
- Correction stems from accrued contract termination expenses wrongly included in goodwill under ASC 805-20-25-2.
- Q4 2024 net income revised from $3.2M to -$0.07M; FY2024 net income from $21.1M to $17.8M.
- Goodwill as of Dec 31, 2024 reduced by ~$1.9M to $85.6M; retained earnings lowered by $3.3M.
- Adjusted net income (non-GAAP) unchanged at $30.98M for FY2024; no material impact.
- Company identified error while preparing Form 10-K; corrected in this 8-K/A.

## SEC filing metadata
- accession: 0001437749-25-007626
- form_type: 8-K/A
- ticker: ALRS
- cik: 0000903419
- company_name: ALERUS FINANCIAL CORP
- filed_at: 2025-03-14T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 7.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/903419/000143774925007626/0001437749-25-007626-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/903419/000143774925007626/alrs20250311_8ka.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-25-007626
- JSON: https://secwatch.observer/filing/0001437749-25-007626.json
- Plain text: https://secwatch.observer/filing/0001437749-25-007626.txt

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