Alerus Financial Q4 net income $10.9M ($0.53 EPS); full-year earnings down 24%

ALERUS FINANCIAL CORP

2022-FY EPS reported $2.10

Q4 net income $10.9M, $0.53 diluted EPS vs. $0.47 in Q3 2022 and $0.72 in Q4 2021.
Full-year 2022 net income $40.0M, down 24.1% from $52.7M in 2021; diluted EPS $2.10 vs. $2.97.
Loans grew 39.0% YoY to $2.44B, including $270.4M from Metro Phoenix Bank acquisition.
ROAA 1.17%, NIM (tax-equivalent) 3.09%, efficiency ratio 69.6%; no provision for loan losses in 2022.
Full-year dividend raised 11% to $0.70 per share; over 33% of earnings returned to shareholders.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

ALERUS FINANCIAL CORP reported Full Year 2022 results: revenue $211.0 million, net income $40.0 million, EPS $2.10.

Period: Full Year 2022
Revenue: $211.0 million
Net income: $40.0 million
EPS: $2.10
Result: reported results

Exact text from the filing

in 2021 ◾ Return on average common equity of 11.55%, compared to 15.22% in 2021 ◾ Return on average tangible common equity (1) of 15.09%, compared to 18.89% in 2021 ◾ Revenue of $211.0 million, a decrease of $23.5 million, or 10.0%, compared to $234.5 million in 2021 o Net interest income was $99.7 million, an increase of $12.6 million, or 14.5%, compared to $87.1

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

ALERUS FINANCIAL CORP reported the fourth quarter of 2022 results: net income $10.9 million, EPS $0.53 per diluted common share.

Period: the fourth quarter of 2022
Net income: $10.9 million
EPS: $0.53 per diluted common share
Result: reported results

Exact text from the filing

Alerus Financial Corporation (Nasdaq: ALRS) reported net income of $10.9 million for the fourth quarter of 2022, or $0.53 per diluted common share

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Source: SEC EDGAR

accession 0001558370-23-000524

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