Alerus Q3 net income $9.2M ($0.45 EPS); deposits stable at $2.9B, noninterest income up 10.2%

ALERUS FINANCIAL CORP

2023-Q3 EPS reported $1.30

Q3 net income $9.2M ($0.45 diluted EPS) vs $9.1M ($0.45) in Q2 and $9.6M ($0.47) in Q3 2022.
Total deposits stable at $2.9B; noninterest-bearing deposits 25%; loan-to-deposit 90.7% with no brokered deposits.
Noninterest income rose 10.2% QoQ including $2.8M gain from sale of ESOP trustee business; core retirement revenue up 3.3%.
Allowance for credit losses 1.39% (up from 1.27% Dec 2022); net recoveries of 0.09% of average loans.
Repurchased $1.2M stock at avg $17.98; CET1 ratio 13.01%.

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 0.95

ALERUS FINANCIAL CORP reported the three and nine months ended September 30, 2023 results: net income $9.2 million, EPS $0.45 per diluted common share.

Period: the three and nine months ended September 30, 2023
Net income: $9.2 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 $9.2 million for the third quarter of 2023, or $0.45 per diluted common share, compared to net income of $9.1 million, or $0.45 per diluted common share, for the second quarter of 2023, and net income of $9.6 million, or $0.47 per diluted common share, for the third quarter of 2022.

View on SEC.gov

Browse all earnings releases →

ALERUS FINANCIAL CORP filing history →

Source: SEC EDGAR

accession 0001558370-23-016724

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.