Alerus Q1 net income $8.2M ($0.40 EPS), down from $10.9M in Q4 2022

ALERUS FINANCIAL CORP

2023-Q1 EPS reported $0.40

Net income $8.2M, diluted EPS $0.40 vs $0.53 in Q4 2022 and $0.57 in Q1 2022.
Total deposits $3.0B, up 4.0% from Dec 2022; loan-to-deposit ratio 82.0%.
Net interest margin (tax-equivalent) 2.70%, down from 3.09% in Q4 2022.
Board declared $0.18 quarterly dividend, a 12.5% increase YoY; paid April 14.
Credit quality strong: net charge-offs 3 bps; allowance for credit losses 1.41% of loans.

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 the three months ended March 31, 2023 results: net income $8.2 million, EPS $0.40 per diluted common share.

Period: the three months ended March 31, 2023
Net income: $8.2 million
EPS: $0.40 per diluted common share
Result: reported results

Exact text from the filing

MINNEAPOLIS, MN (April 26, 2023) – Alerus Financial Corporation (Nasdaq: ALRS), or the Company, reported net income of $8.2 million for the first quarter of 2023, or $0.40 per diluted common share, compared to net income of $10.9 million, or $0.53 per diluted common share, for the fourth quarter of 2022, and net income of $10.2 million, or $0.57 per diluted common share, for the first quarter of 2022.

View on SEC.gov

Browse all earnings releases →

ALERUS FINANCIAL CORP filing history →

Source: SEC EDGAR

accession 0001558370-23-006866

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.