---
schema_version: "secwatch.filing_event.v1"
accession: "0001558370-23-006866"
form_type: "8-K"
ticker: "ALRS"
cik: "0000903419"
company_name: "ALERUS FINANCIAL CORP"
filed_at: "2023-04-26T23:59:59+00:00"
generated_at: "2026-06-16T15:00:01.402568+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001558370-23-006866
- form_type: 8-K
- ticker: ALRS
- cik: 0000903419
- company_name: ALERUS FINANCIAL CORP
- filed_at: 2023-04-26T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- 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/903419/000155837023006866/0001558370-23-006866-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/903419/000155837023006866/alrs-20230426x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001558370-23-006866
- JSON: https://secwatch.observer/filing/0001558370-23-006866.json
- Plain text: https://secwatch.observer/filing/0001558370-23-006866.txt

## Key facts
- Earnings Releases
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/903419/000155837023006866/0001558370-23-006866-index.htm

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