Alerus Financial Q1 2024 net income $6.4M ($0.32 EPS) vs $14.8M loss in Q4 2023

ALERUS FINANCIAL CORP

2024-Q1 EPS reported $0.32

Total deposits rose 6.1% to $3.3B from Dec 2023; brokered deposits at $0.
Adjusted net interest margin (tax-equivalent) expanded 7 bps to 2.44%.
Fee income represented 53.3% of total revenue; all business lines grew.
CET1 ratio 11.86%; allowance for credit losses to loans 1.31%.
Tangible book value per share $15.63, up 1.1% from Dec 2023 and 7.8% YoY.

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 months ended March 31, 2024 results: net income $6.4 million, EPS $0.32 per diluted common share.

Period: the three months ended March 31, 2024
Net income: $6.4 million
EPS: $0.32 per diluted common share
Result: reported results

Exact text from the filing

Alerus Financial Corporation (Nasdaq: ALRS), or the Company, reported net income of $6.4 million for the first quarter of 2024, or $0.32 per diluted common share

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Source: SEC EDGAR

accession 0001558370-24-005611

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