---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-26-013893"
form_type: "8-K"
ticker: "ALRS"
cik: "0000903419"
company_name: "ALERUS FINANCIAL CORP"
filed_at: "2026-04-29T23:59:59+00:00"
generated_at: "2026-05-15T02:37:30.619100+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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%.

## SEC filing metadata
- accession: 0001437749-26-013893
- form_type: 8-K
- ticker: ALRS
- cik: 0000903419
- company_name: ALERUS FINANCIAL CORP
- filed_at: 2026-04-29T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- 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/903419/000143774926013893/0001437749-26-013893-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/903419/000143774926013893/alrs20260305_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-26-013893
- JSON: https://secwatch.observer/filing/0001437749-26-013893.json
- Plain text: https://secwatch.observer/filing/0001437749-26-013893.txt

## Key facts
- Earnings Releases
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/903419/000143774926013893/0001437749-26-013893-index.htm

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