secwatch.observer — SEC 8-K summary
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Issuer:     ALERUS FINANCIAL CORP (ALRS)
CIK:        0000903419
Form:       8-K
Filed at:   2023-10-25T23:59:59+00:00
Accession:  0001558370-23-016724
Event type: earnings
Sentiment:  neutral
Materiality: 0.60
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/903419/000155837023016724/0001558370-23-016724-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/903419/000155837023016724/alrs-20231025x8k.htm
  HTML page:      https://secwatch.observer/filing/0001558370-23-016724

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