secwatch.observer — SEC 8-K summary
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Issuer:     ALERUS FINANCIAL CORP (ALRS)
CIK:        0000903419
Form:       8-K/A
Filed at:   2025-03-14T23:59:59+00:00
Accession:  0001437749-25-007626
Event type: other_material
Sentiment:  negative
Materiality: 0.65
Item codes: 2.02, 7.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/903419/000143774925007626/0001437749-25-007626-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/903419/000143774925007626/alrs20250311_8ka.htm
  HTML page:      https://secwatch.observer/filing/0001437749-25-007626

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