Alerus Financial Q2 net income $9.1M ($0.45 EPS); dividend raised 5.6% to $0.19

ALERUS FINANCIAL CORP

2023-Q2 EPS reported $0.85

Net income of $9.1M ($0.45 diluted EPS) vs. $8.2M ($0.40) Q1 2023 and $9.3M ($0.52) Q2 2022.
Quarterly dividend increased 5.6% to $0.19 per share; repurchased $3.0M of stock (170,046 shares).
Noninterest expense fell 4% QoQ to $36.4M; efficiency ratio improved to 72.79%.
Noninterest income represented 53.7% of total revenue; loan-to-deposit ratio 88.8%.
Headcount reduced 10% over past 12 months; CET1 capital ratio 13.30%.

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 1.0

ALERUS FINANCIAL CORP reported second quarter of 2023 results: net income $9.1 million, EPS $0.45 per diluted common share.

Period: second quarter of 2023
Net income: $9.1 million
EPS: $0.45 per diluted common share
Result: reported results

Exact text from the filing

Alerus Financial Corporation (Nasdaq: ALRS), or the Company, reported net income of $9.1 million for the second quarter of 2023, or $0.45 per diluted common share

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Source: SEC EDGAR

accession 0001558370-23-012281

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