Alerus Q4 net loss $14.8M from $24.6M securities sale; TBV up 8%, deposits grow 7.8%

ALERUS FINANCIAL CORP

2023-FY EPS reported $0.58

Net loss $14.8M ($0.73 diluted EPS) vs Q3 net income $9.2M ($0.45); one-time pre-tax loss $24.6M from selling $172.3M securities.
Total deposits $3.1B, up $223.4M (+7.8% QoQ); total loans $2.8B, up $149.7M (+5.7%); loan/deposit ratio 89.0%.
Net interest margin expanded 10 bps to 2.37%; net interest income $21.6M (+5.7% QoQ).
Tangible book value per share $15.46, up 8.0% from Q3; repurchased $2.1M of stock at avg $17.65.
Full-year 2023 dividends increased to $0.75/sh from $0.70; CEO cites momentum heading into 2024.

item 2.02 item 7.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

ALERUS FINANCIAL CORP reported the fourth quarter of 2023 results: net income net loss of $14.8 million, EPS ($0.73) per diluted common share.

Period: the fourth quarter of 2023
Net income: net loss of $14.8 million
EPS: ($0.73) per diluted common share
Result: reported results

Exact text from the filing

Alerus Financial Corporation (Nasdaq: ALRS), or the Company, reported net loss of $14.8 million for the fourth quarter of 2023, or ($0.73) per diluted common share

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Source: SEC EDGAR

accession 0001558370-24-000469

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