Alerus Financial Q1 net income $23.0M, EPS $0.89, NIM expands to 3.77%

ALERUS FINANCIAL CORP

2026-Q1 EPS reported $0.89

Net income of $23.0M ($0.89 diluted EPS) vs Q4 2025 net loss of $33.1M ($(1.27)) and Q1 2025 net income of $13.3M ($0.52).
Net interest margin (tax-equivalent) 3.77%, up from 3.69% in Q4 2025; efficiency ratio 63.39%.
Total deposits $4.3B (+3.7% from Dec 2025); core commercial transactional deposits up 8.6% to $1.8B.
Nonperforming assets fell 22.1% to $54.0M; tangible book value per share $18.15, up 3.4%.
Repurchased $6.0M of stock at avg $23.90, reducing shares by 250K; tangible common equity ratio 8.85%.

item 2.02 item 7.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

ALERUS FINANCIAL CORP reported the first quarter of 2026 results: net income $23.0 million, EPS $0.89 per diluted common share.

Period: the first quarter of 2026
Net income: $23.0 million
EPS: $0.89 per diluted common share
Result: reported results

Exact text from the filing

Alerus Financial Corporation (Nasdaq: ALRS), or the Company, reported net income of $23.0 million for the first quarter of 2026, or $0.89 per diluted common share

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Source: SEC EDGAR

accession 0001437749-26-013893

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