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Alerus Financial (ALRS) Financials

Alerus Financial logo
$20.81 -0.74 (-3.43%)
Closing price 10/10/2025 04:00 PM Eastern
Extended Trading
$20.82 +0.01 (+0.02%)
As of 10/10/2025 04:10 PM Eastern
Extended trading is trading that happens on electronic markets outside of regular trading hours. This is a fair market value extended hours price provided by Polygon.io. Learn more.
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Annual Income Statements for Alerus Financial

Annual Income Statements for Alerus Financial

This table shows Alerus Financial's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2022 2023 2024
Period end date 12/31/2022 12/31/2023 12/31/2024
Net Income / (Loss) Attributable to Common Shareholders		 40 12 18
Consolidated Net Income / (Loss)		 40 12 18
Net Income / (Loss) Continuing Operations		 40 12 18
Total Pre-Tax Income 		52 16 23
Total Revenue		 211 168 222
Net Interest Income / (Expense)		 100 88 107
Total Interest Income		 116 165 222
Loans and Leases Interest Income		 90 137 184
Investment Securities Interest Income		 26 28 38
Total Interest Expense		 16 77 115
Deposits Interest Expense		 9.17 53 89
Short-Term Borrowings Interest Expense		 4.34 21 23
Long-Term Debt Interest Expense		 2.34 2.68 2.71
Total Non-Interest Income		 111 80 115
Other Service Charges		 4.86 8.03 12
Net Realized & Unrealized Capital Gains on Investments		 0.00 -25 0.00
Other Non-Interest Income		 106 97 103
Provision for Credit Losses		 0.00 2.06 18
Total Non-Interest Expense		 159 150 181
Salaries and Employee Benefits		 103 96 110
Net Occupancy & Equipment Expense		 27 29 30
Marketing Expense		 4.53 4.22 4.65
Other Operating Expenses		 20 16 29
Amortization Expense		 4.75 5.30 6.78
Income Tax Expense		 12 4.16 5.38
Basic Earnings per Share		 $2.12 $0.59 $0.84
Weighted Average Basic Shares Outstanding		 18.64M 19.92M 21.05M
Diluted Earnings per Share		 $2.10 $0.58 $0.83
Weighted Average Diluted Shares Outstanding		 18.88M 20.14M 21.32M
Weighted Average Basic & Diluted Shares Outstanding		 20.06M 19.74M 25.36M
Cash Dividends to Common per Share		 $0.70 $0.75 $0.79

Quarterly Income Statements for Alerus Financial

This table shows Alerus Financial's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024
Period end date 9/30/2022 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024
Net Income / (Loss) Attributable to Common Shareholders		 9.62 11 8.19 9.10 9.16 -15 6.43 6.21 5.21 -0.07
Consolidated Net Income / (Loss)		 9.62 11 8.19 9.10 9.16 -15 6.43 6.21 5.21 -0.07
Net Income / (Loss) Continuing Operations		 9.62 11 8.19 9.10 9.16 -15 6.43 6.21 5.21 -0.07
Total Pre-Tax Income 		13 15 10 12 12 -18 8.52 8.13 6.80 -0.29
Total Revenue		 55 52 49 48 49 22 48 51 51 72
Net Interest Income / (Expense)		 28 27 24 22 20 22 22 24 23 38
Total Interest Income		 32 36 38 40 42 45 49 53 52 67
Loans and Leases Interest Income		 25 29 31 33 35 38 39 42 43 60
Investment Securities Interest Income		 6.90 6.56 6.88 7.07 7.05 6.96 9.74 11 9.62 7.30
Total Interest Expense		 3.96 8.85 14 18 22 23 27 29 30 29
Deposits Interest Expense		 1.85 5.68 9.10 13 14 17 20 21 22 26
Short-Term Borrowings Interest Expense		 1.52 2.55 4.39 4.76 6.53 5.29 5.99 7.05 6.71 2.84
Long-Term Debt Interest Expense		 0.59 0.63 0.65 0.67 0.68 0.68 0.68 0.68 0.68 0.67
Total Non-Interest Income		 27 26 25 26 28 0.79 25 27 28 34
Other Service Charges		 1.40 1.32 2.56 1.22 1.69 2.56 1.49 1.92 2.47 6.46
Other Non-Interest Income		 26 24 23 25 27 23 24 25 26 27
Provision for Credit Losses		 0.00 - 0.55 0.00 0.00 1.51 0.00 4.49 1.66 12
Total Non-Interest Expense		 43 38 38 36 37 39 39 39 42 60
Salaries and Employee Benefits		 26 43 25 24 24 24 26 25 26 33
Net Occupancy & Equipment Expense		 7.30 11 7.22 7.11 6.66 7.54 7.25 6.41 6.96 8.90
Marketing Expense		 1.18 1.40 0.93 0.97 1.07 1.24 0.98 0.98 1.09 1.60
Other Operating Expenses		 6.72 -19 3.38 3.40 4.24 4.76 3.95 4.63 6.61 14
Amortization Expense		 1.32 1.32 1.32 1.32 1.32 1.32 1.32 1.32 1.32 2.80
Income Tax Expense		 2.94 3.62 2.31 2.54 2.38 -3.06 2.09 1.92 1.59 -0.23
Basic Earnings per Share		 $0.48 $0.53 $0.41 $0.45 $0.46 ($0.73) $0.32 $0.31 $0.26 ($0.05)
Weighted Average Basic Shares Outstanding		 19.99M 18.64M 20.03M 20.03M 19.87M 19.92M 19.74M 19.78M 19.79M 21.05M
Diluted Earnings per Share		 $0.47 $0.54 $0.40 $0.45 $0.45 ($0.72) $0.32 $0.31 $0.26 ($0.06)
Weighted Average Diluted Shares Outstanding		 20.23M 18.88M 20.25M 20.24M 20.10M 20.14M 19.99M 20.05M 20.08M 21.32M
Weighted Average Basic & Diluted Shares Outstanding		 19.99M 20.06M 20.07M 19.91M 19.78M 19.74M 19.78M 19.78M 25.34M 25.36M
Cash Dividends to Common per Share		 $0.18 $0.18 $0.18 $0.19 $0.19 $0.19 $0.19 $0.20 $0.20 $0.20

Annual Cash Flow Statements for Alerus Financial

This table details how cash moves in and out of Alerus Financial's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2022 2023 2024
Period end date 12/31/2022 12/31/2023 12/31/2024
Net Change in Cash & Equivalents		 -184 72 -69
Net Cash From Operating Activities		 103 29 29
Net Cash From Continuing Operating Activities		 103 29 29
Net Income / (Loss) Continuing Operations		 40 12 18
Consolidated Net Income / (Loss)		 40 12 18
Provision For Loan Losses		 0.00 2.06 18
Depreciation Expense		 8.47 8.53 9.84
Amortization Expense		 3.16 2.03 6.54
Non-Cash Adjustments to Reconcile Net Income		 40 21 -12
Changes in Operating Assets and Liabilities, net		 11 -16 -12
Net Cash From Investing Activities		 -293 -52 -330
Net Cash From Continuing Investing Activities		 -293 -52 -330
Purchase of Property, Leasehold Improvements and Equipment		 -1.79 -3.17 -12
Purchase of Investment Securities		 -512 -315 -554
Sale of Property, Leasehold Improvements and Equipment		 0.00 0.00 7.46
Sale and/or Maturity of Investments		 221 266 229
Net Cash From Financing Activities		 5.59 95 232
Net Cash From Continuing Financing Activities		 5.59 95 232
Net Change in Deposits		 -359 180 325
Issuance of Debt		 378 -64 -77
Repayment of Debt		 -0.20 0.00 0.00
Repurchase of Common Equity		 -0.74 -6.64 -0.28
Payment of Dividends		 -13 -15 -15
Cash Interest Paid		 15 73 110
Cash Income Taxes Paid		 13 11 0.45

Quarterly Cash Flow Statements for Alerus Financial

This table details how cash moves in and out of Alerus Financial's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024
Period end date 9/30/2022 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024
Net Change in Cash & Equivalents		 17 4.08 87 -80 -0.75 65 416 -108 -372 -4.74
Net Cash From Operating Activities		 37 48 -2.38 14 13 4.08 12 -11 19 9.52
Net Cash From Continuing Operating Activities		 37 48 -2.38 14 13 3.39 12 -11 19 9.52
Net Income / (Loss) Continuing Operations		 9.62 11 8.19 9.10 9.16 -15 6.43 6.21 5.21 -0.07
Consolidated Net Income / (Loss)		 9.62 11 8.19 9.10 9.16 -15 6.43 6.21 5.21 -0.07
Provision For Loan Losses		 - - 0.55 - - 1.51 0.00 4.49 1.66 12
Depreciation Expense		 2.12 2.35 2.13 2.11 2.14 2.15 2.10 2.17 2.19 3.39
Amortization Expense		 0.94 0.45 0.48 2.18 -1.01 0.38 0.42 0.45 0.50 5.18
Non-Cash Adjustments to Reconcile Net Income		 27 20 -7.32 -2.69 3.26 28 0.53 -29 24 -8.19
Changes in Operating Assets and Liabilities, net		 -2.69 14 -6.41 3.68 -0.05 -13 2.51 3.78 -15 -2.78
Net Cash From Investing Activities		 -16 -118 -17 -28 -51 45 -22 -106 -102 -100
Net Cash From Continuing Investing Activities		 -16 -118 -17 -28 -52 45 -22 -106 -102 -100
Purchase of Property, Leasehold Improvements and Equipment		 -0.61 -0.71 -0.92 -0.17 -0.39 -1.70 -0.88 -3.69 -2.77 -5.04
Purchase of Investment Securities		 -58 -226 -43 -46 -73 -152 -50 -121 -115 -268
Sale of Property, Leasehold Improvements and Equipment		 - - - - - - - - - 4.66
Sale and/or Maturity of Investments		 42 108 26 19 22 199 29 19 13 168
Net Cash From Financing Activities		 -3.62 74 107 -66 38 16 426 9.84 -289 86
Net Cash From Continuing Financing Activities		 -3.62 74 107 -66 38 16 426 9.84 -289 86
Net Change in Deposits		 -11 -46 116 -179 19 223 189 14 25 97
Issuance of Debt		 11 124 -5.94 120 23 -201 241 - -310 -7.34
Repurchase of Common Equity		 - -0.04 -0.36 -2.95 -1.24 -2.08 -0.15 -0.00 -0.08 -0.04
Payment of Dividends		 -3.62 -3.62 -3.62 -3.81 -3.62 -3.78 -3.76 -3.76 -3.96 -3.96
Cash Interest Paid		 3.36 7.83 15 17 19 22 22 25 37 25
Cash Income Taxes Paid		 4.04 3.82 0.00 3.72 2.92 4.20 0.00 0.17 0.09 0.19

Annual Balance Sheets for Alerus Financial

This table presents Alerus Financial's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2022 2023 2024
Period end date 12/31/2022 12/31/2023 12/31/2024
Total Assets		 3,780 3,908 5,262
Cash and Due from Banks		 58 130 61
Trading Account Securities		 1,049 798 883
Loans and Leases, Net of Allowance		 2,413 2,724 3,933
Loans and Leases		 2,444 2,760 3,993
Allowance for Loan and Lease Losses		 31 36 60
Premises and Equipment, Net		 17 18 40
Goodwill		 47 47 86
Intangible Assets		 22 17 44
Other Assets		 170 172 207
Total Liabilities & Shareholders' Equity		 3,780 3,908 5,262
Total Liabilities		 3,423 3,539 4,766
Non-Interest Bearing Deposits		 861 728 903
Interest Bearing Deposits		 2,054 2,368 3,475
Short-Term Debt		 378 314 239
Long-Term Debt		 59 59 59
Other Long-Term Liabilities		 70 70 90
Commitments & Contingencies		 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 357 369 495
Total Preferred & Common Equity		 357 369 495
Preferred Stock		 0.00 0.00 0.00
Total Common Equity		 357 369 495
Common Stock		 175 170 295
Retained Earnings		 280 273 274
Accumulated Other Comprehensive Income / (Loss)		 -99 -74 -73

Quarterly Balance Sheets for Alerus Financial

This table presents Alerus Financial's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024
Period end date 9/30/2022 3/31/2023 6/30/2023 9/30/2023 3/31/2024 6/30/2024 9/30/2024
Total Assets		 3,691 3,887 3,833 3,869 4,338 4,359 4,085
Cash and Due from Banks		 54 145 65 65 546 438 66
Trading Account Securities		 1,082 1,036 1,007 960 779 787 764
Loans and Leases, Net of Allowance		 2,287 2,452 2,498 2,570 2,763 2,877 2,993
Loans and Leases		 2,318 2,487 2,534 2,606 2,799 2,916 3,032
Allowance for Loan and Lease Losses		 31 35 36 36 37 38 39
Premises and Equipment, Net		 17 18 17 17 18 17 19
Goodwill		 46 47 47 47 47 47 47
Intangible Assets		 24 21 20 18 16 15 13
Other Assets		 167 168 179 192 167 176 181
Total Liabilities & Shareholders' Equity		 3,691 3,887 3,833 3,869 4,338 4,359 4,085
Total Liabilities		 3,346 3,528 3,475 3,520 3,966 3,985 3,698
Non-Interest Bearing Deposits		 905 793 716 718 693 701 658
Interest Bearing Deposits		 2,057 2,239 2,137 2,154 2,592 2,597 2,666
Short-Term Debt		 254 372 492 515 555 555 245
Long-Term Debt		 59 59 59 59 59 59 59
Other Long-Term Liabilities		 72 65 71 73 68 73 71
Commitments & Contingencies		 - - - - 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 345 359 358 349 372 373 386
Total Preferred & Common Equity		 345 359 358 349 372 373 386
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 345 359 358 349 372 373 386
Common Stock		 175 175 173 172 171 171 171
Retained Earnings		 273 281 286 291 275 278 279
Accumulated Other Comprehensive Income / (Loss)		 -103 -96 -101 -113 -74 -75 -63

Annual Metrics And Ratios for Alerus Financial

This table displays calculated financial ratios and metrics derived from Alerus Financial's official financial filings.

Metric 2022 2023 2024
Period end date 12/31/2022 12/31/2023 12/31/2024
Growth Metrics		 - - -
Revenue Growth		 -10.04% -20.33% 32.07%
EBITDA Growth		 -21.83% -58.61% 49.70%
EBIT Growth		 -24.46% -69.62% 46.08%
NOPAT Growth		 -24.06% -70.76% 52.02%
Net Income Growth		 -24.06% -70.76% 52.02%
EPS Growth		 -29.29% -72.38% 43.10%
Operating Cash Flow Growth		 -31.28% -71.95% 0.26%
Free Cash Flow Firm Growth		 -1,543.25% 118.85% -152.83%
Invested Capital Growth		 89.75% -6.49% 6.90%
Revenue Q/Q Growth		 -1.87% -15.21% 28.93%
EBITDA Q/Q Growth		 -1.94% -55.26% 147.48%
EBIT Q/Q Growth		 -1.32% -67.11% 311.20%
NOPAT Q/Q Growth		 -4.30% -68.69% 475.03%
Net Income Q/Q Growth		 -4.30% -68.69% 475.03%
EPS Q/Q Growth		 -7.49% -68.48% 388.24%
Operating Cash Flow Q/Q Growth		 18.59% -60.45% 22.61%
Free Cash Flow Firm Q/Q Growth		 -64.81% 127.62% -114.12%
Invested Capital Q/Q Growth		 20.73% -19.65% 14.95%
Profitability Metrics		 - - -
EBITDA Margin		 30.25% 15.71% 17.81%
EBIT Margin		 24.74% 9.43% 10.43%
Profit (Net Income) Margin		 18.96% 6.96% 8.01%
Tax Burden Percent		 76.66% 73.77% 76.77%
Interest Burden Percent		 100.00% 100.00% 100.00%
Effective Tax Rate		 23.34% 26.23% 23.23%
Return on Invested Capital (ROIC)		 6.60% 1.52% 2.32%
ROIC Less NNEP Spread (ROIC-NNEP)		 6.60% 1.52% 2.32%
Return on Net Nonoperating Assets (RNNOA)		 4.57% 1.70% 1.80%
Return on Equity (ROE)		 11.17% 3.22% 4.11%
Cash Return on Invested Capital (CROIC)		 -55.35% 8.23% -4.35%
Operating Return on Assets (OROA)		 1.46% 0.41% 0.51%
Return on Assets (ROA)		 1.12% 0.30% 0.39%
Return on Common Equity (ROCE)		 11.17% 3.22% 4.11%
Return on Equity Simple (ROE_SIMPLE)		 11.21% 3.17% 3.59%
Net Operating Profit after Tax (NOPAT)		 40 12 18
NOPAT Margin		 18.96% 6.96% 8.01%
Net Nonoperating Expense Percent (NNEP)		 0.00% 0.00% 0.00%
SG&A Expenses to Revenue		 63.61% 76.81% 65.08%
Operating Expenses to Revenue		 75.26% 89.34% 81.39%
Earnings before Interest and Taxes (EBIT)		 52 16 23
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 64 26 40
Valuation Ratios		 - - -
Price to Book Value (P/BV)		 1.20 1.14 0.97
Price to Tangible Book Value (P/TBV)		 1.48 1.38 1.32
Price to Revenue (P/Rev)		 2.02 2.51 2.17
Price to Earnings (P/E)		 10.66 36.01 27.12
Dividend Yield		 3.28% 3.52% 4.15%
Earnings Yield		 9.38% 2.78% 3.69%
Enterprise Value to Invested Capital (EV/IC)		 1.01 0.90 0.91
Enterprise Value to Revenue (EV/Rev)		 3.82 3.95 3.24
Enterprise Value to EBITDA (EV/EBITDA)		 12.62 25.16 18.18
Enterprise Value to EBIT (EV/EBIT)		 15.43 41.91 31.04
Enterprise Value to NOPAT (EV/NOPAT)		 20.13 56.81 40.44
Enterprise Value to Operating Cash Flow (EV/OCF)		 7.82 23.00 24.83
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 10.51 0.00
Leverage & Solvency		 - - -
Debt to Equity		 1.22 1.01 0.60
Long-Term Debt to Equity		 0.16 0.16 0.12
Financial Leverage		 0.69 1.12 0.78
Leverage Ratio		 10.01 10.59 10.61
Compound Leverage Factor		 10.01 10.59 10.61
Debt to Total Capital		 55.04% 50.27% 37.56%
Short-Term Debt to Total Capital		 47.63% 42.33% 30.12%
Long-Term Debt to Total Capital		 7.41% 7.94% 7.44%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00%
Common Equity to Total Capital		 44.96% 49.73% 62.44%
Debt to EBITDA		 6.85 14.13 7.54
Net Debt to EBITDA		 5.93 9.21 5.99
Long-Term Debt to EBITDA		 0.92 2.23 1.49
Debt to NOPAT		 10.92 31.90 16.76
Net Debt to NOPAT		 9.47 20.80 13.32
Long-Term Debt to NOPAT		 1.47 5.04 3.32
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00%
Liquidity Ratios		 - - -
Cash Flow Metrics		 - - -
Free Cash Flow to Firm (FCFF)		 -335 63 -33
Operating Cash Flow to CapEx		 5,755.51% 910.31% 589.82%
Free Cash Flow to Firm to Interest Expense		 -21.17 0.82 -0.29
Operating Cash Flow to Interest Expense		 6.50 0.37 0.25
Operating Cash Flow Less CapEx to Interest Expense		 6.38 0.33 0.21
Efficiency Ratios		 - - -
Asset Turnover		 0.06 0.04 0.05
Fixed Asset Turnover		 11.83 9.54 7.69
Capital & Investment Metrics		 - - -
Invested Capital		 794 742 793
Invested Capital Turnover		 0.35 0.22 0.29
Increase / (Decrease) in Invested Capital		 375 -52 51
Enterprise Value (EV)		 805 664 719
Market Capitalization		 426 421 482
Book Value per Share		 $17.86 $18.67 $19.55
Tangible Book Value per Share		 $14.38 $15.43 $14.44
Total Capital		 794 742 793
Total Debt		 437 373 298
Total Long-Term Debt		 59 59 59
Net Debt		 379 243 237
Capital Expenditures (CapEx)		 1.79 3.17 4.91
Net Nonoperating Expense (NNE)		 0.00 0.00 0.00
Net Nonoperating Obligations (NNO)		 437 373 298
Total Depreciation and Amortization (D&A)		 12 11 16
Earnings Adjustments		 - - -
Adjusted Basic Earnings per Share		 $2.12 $0.59 $0.84
Adjusted Weighted Average Basic Shares Outstanding		 18.64M 19.92M 21.05M
Adjusted Diluted Earnings per Share		 $2.10 $0.58 $0.83
Adjusted Weighted Average Diluted Shares Outstanding		 18.88M 20.14M 21.32M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 20.06M 19.74M 25.36M
Normalized Net Operating Profit after Tax (NOPAT)		 40 12 18
Normalized NOPAT Margin		 18.96% 6.96% 8.01%
Pre Tax Income Margin		 24.74% 9.43% 10.43%
Debt Service Ratios		 - - -
EBIT to Interest Expense		 3.29 0.21 0.20
NOPAT to Interest Expense		 2.52 0.15 0.16
EBIT Less CapEx to Interest Expense		 3.18 0.16 0.16
NOPAT Less CapEx to Interest Expense		 2.41 0.11 0.11
Payout Ratios		 - - -
Dividend Payout Ratio		 32.00% 126.73% 86.87%
Augmented Payout Ratio		 33.84% 183.48% 88.42%

Quarterly Metrics And Ratios for Alerus Financial

This table displays calculated financial ratios and metrics derived from Alerus Financial's official financial filings.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024
Period end date 9/30/2022 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024
Growth Metrics		 - - - - - - - - - -
Revenue Growth		 -3.23% -7.12% -4.36% -7.67% -11.79% -57.43% -2.80% 7.00% 4.31% 222.95%
EBITDA Growth		 -22.39% -6.80% -18.83% 8.20% -18.84% -188.25% -15.77% -32.50% -25.19% 154.08%
EBIT Growth		 -26.69% -4.58% -19.74% -3.15% -8.10% -222.61% -18.77% -30.14% -41.11% 98.36%
NOPAT Growth		 -26.39% -14.14% -19.62% -2.03% -4.76% -214.34% -21.43% -31.81% -43.16% 98.36%
Net Income Growth		 -26.39% -14.14% -19.62% -2.03% -4.76% -235.26% -21.43% -31.81% -43.16% 99.55%
EPS Growth		 -36.49% -23.94% -29.82% -13.46% -4.26% -233.33% -20.00% -31.11% -42.22% 91.67%
Operating Cash Flow Growth		 10.74% 50.29% -106.75% 181.93% -65.40% -91.54% 603.11% -179.87% 47.91% 133.31%
Free Cash Flow Firm Growth		 -1,185.11% -2,078.63% -3,676.67% -48.78% -9.08% 110.72% 52.08% 75.14% 192.86% -231.54%
Invested Capital Growth		 59.53% 89.75% 103.95% 49.36% 40.50% -6.49% 24.74% 8.65% -25.28% 6.90%
Revenue Q/Q Growth		 6.39% -5.14% -6.80% -1.84% 1.65% -54.22% 112.78% 8.06% -0.91% 41.75%
EBITDA Q/Q Growth		 6.06% 11.00% -24.37% 21.52% -20.45% -220.69% 164.75% -2.62% -11.82% -12.75%
EBIT Q/Q Growth		 4.50% 15.72% -27.81% 10.93% -0.83% -254.38% 147.83% -4.60% -16.41% -104.30%
NOPAT Q/Q Growth		 3.51% 13.41% -24.96% 11.21% 0.63% -236.16% 151.57% -3.48% -16.12% -103.93%
Net Income Q/Q Growth		 3.51% 13.41% -24.96% 11.21% 0.63% -261.06% 143.59% -3.48% -16.12% -101.29%
EPS Q/Q Growth		 -9.62% 14.89% -25.93% 12.50% 0.00% -260.00% 144.44% -3.13% -16.13% -123.08%
Operating Cash Flow Q/Q Growth		 310.78% 30.34% -104.94% 703.57% -10.98% -68.14% 840.98% -195.81% 264.87% -49.74%
Free Cash Flow Firm Q/Q Growth		 -20.45% -54.65% -8.23% 26.20% 11.69% 115.19% -583.90% 61.71% 429.87% -121.52%
Invested Capital Q/Q Growth		 8.08% 20.73% -0.46% 15.00% 1.67% -19.65% 32.79% 0.16% -30.09% 14.95%
Profitability Metrics		 - - - - - - - - - -
EBITDA Margin		 28.22% 33.02% 26.80% 33.17% 25.96% -68.44% 23.22% 20.93% 18.62% 11.46%
EBIT Margin		 22.70% 27.69% 21.45% 24.24% 23.65% -79.75% 17.93% 15.83% 13.35% -0.40%
Profit (Net Income) Margin		 17.39% 20.79% 16.74% 18.96% 18.77% -66.04% 13.53% 12.08% 10.23% -0.09%
Tax Burden Percent		 76.59% 75.06% 78.02% 78.22% 79.37% 82.80% 75.47% 76.35% 76.61% 22.95%
Interest Burden Percent		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Effective Tax Rate		 23.41% 24.94% 21.98% 21.78% 20.63% 0.00% 24.53% 23.65% 23.39% 0.00%
Return on Invested Capital (ROIC)		 6.99% 7.24% 5.93% 5.12% 4.71% -12.22% 2.54% 2.17% 2.18% -0.08%
ROIC Less NNEP Spread (ROIC-NNEP)		 6.99% 7.24% 5.93% 5.12% 4.71% -12.78% 2.54% 2.17% 2.18% -0.04%
Return on Net Nonoperating Assets (RNNOA)		 3.72% 5.01% 4.23% 6.56% 6.01% -14.26% 3.63% 3.46% 2.60% -0.03%
Return on Equity (ROE)		 10.71% 12.24% 10.16% 11.68% 10.72% -26.48% 6.17% 5.62% 4.79% -0.11%
Cash Return on Invested Capital (CROIC)		 -38.06% -55.35% -61.95% -34.60% -28.96% 8.23% -20.90% -7.55% 29.33% -4.35%
Operating Return on Assets (OROA)		 1.42% 1.63% 1.24% 1.39% 1.24% -3.49% 0.73% 0.66% 0.58% -0.02%
Return on Assets (ROA)		 1.09% 1.22% 0.97% 1.09% 0.98% -2.89% 0.55% 0.50% 0.44% 0.00%
Return on Common Equity (ROCE)		 10.71% 12.24% 10.16% 11.68% 10.72% -26.48% 6.17% 5.62% 4.79% -0.11%
Return on Equity Simple (ROE_SIMPLE)		 12.12% 0.00% 10.58% 10.57% 10.69% 0.00% 2.68% 1.89% 0.80% 0.00%
Net Operating Profit after Tax (NOPAT)		 9.62 11 8.19 9.10 9.16 -12 6.43 6.21 5.21 -0.20
NOPAT Margin		 17.39% 20.79% 16.74% 18.96% 18.77% -55.83% 13.53% 12.08% 10.23% -0.28%
Net Nonoperating Expense Percent (NNEP)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.56% 0.00% 0.00% 0.00% -0.04%
SG&A Expenses to Revenue		 62.77% 106.23% 67.81% 65.92% 64.95% 145.80% 70.99% 63.84% 67.80% 60.14%
Operating Expenses to Revenue		 77.30% 72.31% 77.42% 75.76% 76.35% 173.01% 82.07% 75.43% 83.38% 83.79%
Earnings before Interest and Taxes (EBIT)		 13 15 10 12 12 -18 8.52 8.13 6.80 -0.29
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 16 17 13 16 13 -15 11 11 9.48 8.27
Valuation Ratios		 - - - - - - - - - -
Price to Book Value (P/BV)		 1.20 1.20 0.85 0.97 1.00 1.14 1.15 1.04 1.17 0.97
Price to Tangible Book Value (P/TBV)		 1.50 1.48 1.05 1.19 1.23 1.38 1.38 1.24 1.39 1.32
Price to Revenue (P/Rev)		 1.92 2.02 1.47 1.70 1.76 2.51 2.56 2.28 2.63 2.17
Price to Earnings (P/E)		 9.88 10.66 8.07 9.18 9.34 36.01 42.88 55.04 146.35 27.12
Dividend Yield		 3.29% 3.28% 4.71% 4.22% 5.25% 3.52% 3.52% 3.93% 3.41% 4.15%
Earnings Yield		 10.12% 9.38% 12.39% 10.89% 10.71% 2.78% 2.33% 1.82% 0.68% 3.69%
Enterprise Value to Invested Capital (EV/IC)		 1.00 1.01 0.75 0.92 0.93 0.90 0.50 0.57 1.00 0.91
Enterprise Value to Revenue (EV/Rev)		 3.06 3.82 2.84 4.07 4.33 3.95 2.97 3.31 4.01 3.24
Enterprise Value to EBITDA (EV/EBITDA)		 10.10 12.62 9.75 13.44 14.54 25.16 20.31 29.41 43.21 18.18
Enterprise Value to EBIT (EV/EBIT)		 12.43 15.43 11.95 16.92 17.81 41.91 35.61 54.32 122.56 31.04
Enterprise Value to NOPAT (EV/NOPAT)		 15.73 20.13 15.59 22.02 22.98 56.81 49.74 80.00 223.25 40.44
Enterprise Value to Operating Cash Flow (EV/OCF)		 7.57 7.82 9.07 8.56 11.75 23.00 11.41 32.24 29.23 24.83
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 0.00 10.51 0.00 0.00 2.92 0.00
Leverage & Solvency		 - - - - - - - - - -
Debt to Equity		 0.91 1.22 1.20 1.54 1.64 1.01 1.65 1.65 0.79 0.60
Long-Term Debt to Equity		 0.17 0.16 0.16 0.16 0.17 0.16 0.16 0.16 0.15 0.12
Financial Leverage		 0.53 0.69 0.71 1.28 1.28 1.12 1.43 1.59 1.19 0.78
Leverage Ratio		 9.84 10.01 10.50 10.72 10.89 10.59 11.26 11.21 10.81 10.61
Compound Leverage Factor		 9.84 10.01 10.50 10.72 10.89 10.59 11.26 11.21 10.81 10.61
Debt to Total Capital		 47.55% 55.04% 54.55% 60.64% 62.18% 50.27% 62.29% 62.20% 44.01% 37.56%
Short-Term Debt to Total Capital		 38.61% 47.63% 47.10% 54.15% 55.80% 42.33% 56.31% 56.22% 35.45% 30.12%
Long-Term Debt to Total Capital		 8.95% 7.41% 7.45% 6.48% 6.38% 7.94% 5.98% 5.98% 8.55% 7.44%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 52.45% 44.96% 45.45% 39.36% 37.82% 49.73% 37.71% 37.81% 55.99% 62.44%
Debt to EBITDA		 4.81 6.85 7.09 8.89 9.73 14.13 25.22 32.03 19.01 7.54
Net Debt to EBITDA		 3.76 5.93 4.70 7.83 8.63 9.21 2.80 9.18 14.88 5.99
Long-Term Debt to EBITDA		 0.90 0.92 0.97 0.95 1.00 2.23 2.42 3.08 3.70 1.49
Debt to NOPAT		 7.48 10.92 11.34 14.57 15.37 31.90 61.76 87.14 98.23 16.76
Net Debt to NOPAT		 5.85 9.47 7.52 12.84 13.64 20.80 6.86 24.96 76.90 13.32
Long-Term Debt to NOPAT		 1.41 1.47 1.55 1.56 1.58 5.04 5.93 8.38 19.09 3.32
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -236 -365 -395 -291 -257 39 -189 -72 239 -51
Operating Cash Flow to CapEx		 6,066.23% 6,812.29% -258.18% 8,716.97% 3,317.10% 240.14% 1,360.84% -311.72% 684.95% 2,518.25%
Free Cash Flow to Firm to Interest Expense		 -59.54 -41.20 -27.88 -16.08 -11.88 1.69 -7.05 -2.49 8.05 -1.77
Operating Cash Flow to Interest Expense		 9.35 5.45 -0.17 0.79 0.59 0.18 0.45 -0.40 0.64 0.33
Operating Cash Flow Less CapEx to Interest Expense		 9.19 5.37 -0.23 0.79 0.57 0.10 0.41 -0.52 0.55 0.31
Efficiency Ratios		 - - - - - - - - - -
Asset Turnover		 0.06 0.06 0.06 0.06 0.05 0.04 0.04 0.04 0.04 0.05
Fixed Asset Turnover		 12.12 11.83 11.84 11.81 11.57 9.54 9.31 9.77 9.57 7.69
Capital & Investment Metrics		 - - - - - - - - - -
Invested Capital		 658 794 790 909 924 742 986 987 690 793
Invested Capital Turnover		 0.40 0.35 0.35 0.27 0.25 0.22 0.19 0.18 0.21 0.29
Increase / (Decrease) in Invested Capital		 245 375 403 300 266 -52 195 79 -234 51
Enterprise Value (EV)		 657 805 593 833 858 664 495 564 690 719
Market Capitalization		 413 426 307 347 349 421 426 388 453 482
Book Value per Share		 $17.25 $17.86 $17.90 $17.82 $17.54 $18.67 $18.83 $18.87 $19.54 $19.55
Tangible Book Value per Share		 $13.76 $14.38 $14.50 $14.49 $14.27 $15.43 $15.66 $15.77 $16.51 $14.44
Total Capital		 658 794 790 909 924 742 986 987 690 793
Total Debt		 313 437 431 551 574 373 614 614 304 298
Total Long-Term Debt		 59 59 59 59 59 59 59 59 59 59
Net Debt		 244 379 286 485 510 243 68 176 238 237
Capital Expenditures (CapEx)		 0.61 0.71 0.92 0.17 0.39 1.70 0.88 3.69 2.77 0.38
Net Nonoperating Expense (NNE)		 0.00 0.00 0.00 0.00 0.00 2.28 0.00 0.00 0.00 -0.14
Net Nonoperating Obligations (NNO)		 313 437 431 551 574 373 614 614 304 298
Total Depreciation and Amortization (D&A)		 3.05 2.80 2.61 4.29 1.13 2.53 2.52 2.62 2.68 8.56
Earnings Adjustments		 - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.48 $0.53 $0.41 $0.45 $0.46 ($0.73) $0.32 $0.31 $0.26 ($0.05)
Adjusted Weighted Average Basic Shares Outstanding		 19.99M 18.64M 20.03M 20.03M 19.87M 19.92M 19.74M 19.78M 19.79M 21.05M
Adjusted Diluted Earnings per Share		 $0.47 $0.54 $0.40 $0.45 $0.45 ($0.72) $0.32 $0.31 $0.26 ($0.06)
Adjusted Weighted Average Diluted Shares Outstanding		 20.23M 18.88M 20.25M 20.24M 20.10M 20.14M 19.99M 20.05M 20.08M 21.32M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 19.99M 20.06M 20.07M 19.91M 19.78M 19.74M 19.78M 19.78M 25.34M 25.36M
Normalized Net Operating Profit after Tax (NOPAT)		 9.62 11 8.19 9.10 9.16 -12 6.43 6.21 5.21 -0.20
Normalized NOPAT Margin		 17.39% 20.79% 16.74% 18.96% 18.77% -55.83% 13.53% 12.08% 10.23% -0.28%
Pre Tax Income Margin		 22.70% 27.69% 21.45% 24.24% 23.65% -79.75% 17.93% 15.83% 13.35% -0.40%
Debt Service Ratios		 - - - - - - - - - -
EBIT to Interest Expense		 3.17 1.64 0.74 0.64 0.53 -0.77 0.32 0.28 0.23 -0.01
NOPAT to Interest Expense		 2.43 1.23 0.58 0.50 0.42 -0.54 0.24 0.21 0.18 -0.01
EBIT Less CapEx to Interest Expense		 3.02 1.56 0.68 0.63 0.52 -0.84 0.28 0.15 0.14 -0.02
NOPAT Less CapEx to Interest Expense		 2.28 1.15 0.51 0.49 0.41 -0.61 0.21 0.09 0.08 -0.02
Payout Ratios		 - - - - - - - - - -
Dividend Payout Ratio		 28.61% 32.00% 35.88% 38.75% 39.23% 126.73% 150.46% 211.69% 493.63% 86.87%
Augmented Payout Ratio		 30.74% 33.84% 37.17% 47.62% 51.53% 183.48% 215.14% 261.08% 568.47% 88.42%

Financials Breakdown Chart

Key Financial Trends

Alerus Financial (NASDAQ:ALRS) shows a mixed financial performance over the last four years with recent quarters in 2024 highlighting some fluctuations in profitability and operational efficiency.

Key Positive Trends:

  • Strong growth in loans and leases interest income, rising from $29.2 million in Q4 2022 to $60 million in Q4 2024, indicating an expanding lending business.
  • Increasing total interest income, from $35.8 million in Q4 2022 to $67.3 million in Q4 2024, reflecting successful asset yield improvements.
  • Consistent growth in non-interest income, increasing from $25.5 million in Q4 2022 to $33.9 million in Q4 2024, driven by other service charges and investment income.
  • Net cash from operating activities was positive in recent quarters, such as $9.52 million in Q4 2024, suggesting healthy cash generation from core operations.
  • Stable dividend payments per share around $0.19-$0.20 quarterly, indicating a commitment to returning capital to shareholders.
  • Total assets gradually increased from approximately $3.7 billion in Q3 2022 to over $4 billion by mid-2024, reflecting growth in the company's asset base.

Neutral Observations:

  • Net interest income fluctuates quarter to quarter but shows an overall upward trend since 2022, indicating sensitivity to interest rate environment and business volume.
  • Allowance for loan and lease losses increased in line with loan growth, rising from about $31 million in 2022 to over $39 million by Q3 2024, a typical credit risk management practice.
  • Significant fluctuations in investing activities cash flows, often influenced by timing of investment securities purchases and sales, which impacts liquidity.
  • Changes in short-term debt and long-term debt levels show active balance sheet management strategies, sometimes increasing short-term borrowings.

Concerning or Negative Trends:

  • Q4 2024 reported a net loss of $67,000 compared to a net income of $5.2 million in Q3 2024, indicating earnings volatility that investors should monitor.
  • Provision for credit losses spiked to $11.99 million in Q4 2024 from much lower levels in earlier quarters, potentially pointing to elevated credit risk or loan portfolio issues.
  • Total non-interest expenses grew to $60.46 million in Q4 2024, a sharp increase compared to prior quarters, pressuring profitability.
  • Cash and equivalents fluctuated significantly, with notable decreases in some quarters (e.g., $-372 million in Q3 2024), which may affect short-term liquidity.
  • Negative net cash from investing activities in recent quarters suggests heavy outflows for investment purchases, possibly impacting cash reserves in the short term.

Overall, Alerus Financial demonstrates growth in core lending and income streams, but recent quarterly earnings volatility and elevated credit loss provisions warrant investor attention. The company maintains steady dividend payouts and growth in its total assets, but increasing expenses and some cash flow pressure highlight the need for careful monitoring of operational efficiency and credit quality moving forward.

10/11/25 05:02 AM ETAI Generated. May Contain Errors.

Frequently Asked Questions About Alerus Financial's Financials

When does Alerus Financial's financial year end?

According to the most recent income statement we have on file, Alerus Financial's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has Alerus Financial's net income changed over the last 2 years?

Alerus Financial's net income appears to be on a downward trend, with a most recent value of $17.78 million in 2024, falling from $40.01 million in 2022. The previous period was $11.70 million in 2023. Check out Alerus Financial's forecast to explore projected trends and price targets.

How has Alerus Financial's revenue changed over the last 2 years?

Over the last 2 years, Alerus Financial's total revenue changed from $210.95 million in 2022 to $221.98 million in 2024, a change of 5.2%.

How much debt does Alerus Financial have?

Alerus Financial's total liabilities were at $4.77 billion at the end of 2024, a 34.7% increase from 2023, and a 39.3% increase since 2022.

How much cash does Alerus Financial have?

In the past 2 years, Alerus Financial's cash and equivalents has ranged from $58.24 million in 2022 to $129.89 million in 2023, and is currently $61.24 million as of their latest financial filing in 2024.

How has Alerus Financial's book value per share changed over the last 2 years?

Over the last 2 years, Alerus Financial's book value per share changed from 17.86 in 2022 to 19.55 in 2024, a change of 9.5%.


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This page (NASDAQ:ALRS) was last updated on 10/11/2025 by MarketBeat.com Staff
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