---
schema_version: "secwatch.filing_event.v1"
accession: "0001558370-23-012281"
form_type: "8-K"
ticker: "ALRS"
cik: "0000903419"
company_name: "ALERUS FINANCIAL CORP"
filed_at: "2023-07-26T23:59:59+00:00"
generated_at: "2026-06-13T02:37:21.602940+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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%.

## SEC filing metadata
- accession: 0001558370-23-012281
- form_type: 8-K
- ticker: ALRS
- cik: 0000903419
- company_name: ALERUS FINANCIAL CORP
- filed_at: 2023-07-26T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/903419/000155837023012281/0001558370-23-012281-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/903419/000155837023012281/alrs-20230726x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001558370-23-012281
- JSON: https://secwatch.observer/filing/0001558370-23-012281.json
- Plain text: https://secwatch.observer/filing/0001558370-23-012281.txt

## Key facts
- Earnings Releases
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/903419/000155837023012281/0001558370-23-012281-index.htm

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