---
schema_version: "secwatch.filing_event.v1"
accession: "0001558370-24-005611"
form_type: "8-K"
ticker: "ALRS"
cik: "0000903419"
company_name: "ALERUS FINANCIAL CORP"
filed_at: "2024-04-24T23:59:59+00:00"
generated_at: "2026-06-03T10:57:27.081133+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001558370-24-005611
- form_type: 8-K
- ticker: ALRS
- cik: 0000903419
- company_name: ALERUS FINANCIAL CORP
- filed_at: 2024-04-24T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/903419/000155837024005611/0001558370-24-005611-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/903419/000155837024005611/alrs-20240424x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001558370-24-005611
- JSON: https://secwatch.observer/filing/0001558370-24-005611.json
- Plain text: https://secwatch.observer/filing/0001558370-24-005611.txt

## Key facts
- Earnings Releases
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/903419/000155837024005611/0001558370-24-005611-index.htm

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