---
schema_version: "secwatch.filing_event.v1"
accession: "0001558370-23-000524"
form_type: "8-K"
ticker: "ALRS"
cik: "0000903419"
company_name: "ALERUS FINANCIAL CORP"
filed_at: "2023-01-25T23:59:59+00:00"
generated_at: "2026-06-20T10:15:39.169161+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001558370-23-000524
- form_type: 8-K
- ticker: ALRS
- cik: 0000903419
- company_name: ALERUS FINANCIAL CORP
- filed_at: 2023-01-25T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/903419/000155837023000524/0001558370-23-000524-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/903419/000155837023000524/alrs-20230125x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001558370-23-000524
- JSON: https://secwatch.observer/filing/0001558370-23-000524.json
- Plain text: https://secwatch.observer/filing/0001558370-23-000524.txt

## Key facts
- Earnings Releases
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/903419/000155837023000524/0001558370-23-000524-index.htm
- Earnings Releases
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/903419/000155837023000524/0001558370-23-000524-index.htm

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