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Alerus Financial (ALRS) Financials

Alerus Financial logo
$33.12 0.00 (0.00%)
As of 08/28/2026 04:00 PM Eastern
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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 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 15 -54 30 45 53 40 12 18 17
Consolidated Net Income / (Loss)		 15 26 30 45 53 40 12 18 17
Net Income / (Loss) Continuing Operations		 15 -54 30 45 53 40 12 18 17
Total Pre-Tax Income 		33 33 39 59 69 52 16 23 23
Total Revenue		 171 98 189 233 234 211 168 222 224
Net Interest Income / (Expense)		 68 75 75 84 87 100 88 107 172
Total Interest Income		 76 88 93 96 93 116 165 222 280
Loans and Leases Interest Income		 69 81 86 86 78 90 137 184 254
Investment Securities Interest Income		 6.84 6.54 7.47 9.68 15 26 28 38 26
Total Interest Expense		 7.97 12 19 12 5.56 16 77 115 107
Deposits Interest Expense		 3.52 6.99 13 8.84 3.66 9.17 53 89 93
Short-Term Borrowings Interest Expense		 0.94 1.90 1.81 0.00 0.00 4.34 21 23 12
Long-Term Debt Interest Expense		 3.51 3.59 3.61 3.41 1.90 2.34 2.68 2.71 2.60
Total Non-Interest Income		 103 103 114 149 147 111 80 115 52
Other Service Charges		 68 5.01 6.95 5.18 4.60 4.86 8.03 12 9.43
Net Realized & Unrealized Capital Gains on Investments		 -0.01 0.09 0.36 2.74 0.13 0.00 -25 0.00 -66
Other Non-Interest Income		 20 18 107 141 143 106 97 103 109
Provision for Credit Losses		 3.28 8.61 7.31 11 -3.50 0.00 2.06 18 0.56
Total Non-Interest Expense		 135 136 143 164 169 159 150 181 201
Salaries and Employee Benefits		 16 18 93 109 115 103 96 110 124
Net Occupancy & Equipment Expense		 11 11 27 29 29 27 29 30 37
Marketing Expense		 4.80 5.20 4.95 3.49 3.62 4.53 4.22 4.65 5.27
Other Operating Expenses		 97 98 13 18 17 20 16 29 25
Amortization Expense		 5.62 4.64 4.08 3.96 4.38 4.75 5.30 6.78 11
Income Tax Expense		 18 7.17 9.36 14 16 12 4.16 5.38 5.15
Basic Earnings per Share		 $1.10 $1.88 $1.96 $2.57 $3.02 $2.12 $0.59 $0.84 $0.69
Weighted Average Basic Shares Outstanding		 13.65M 13.76M 14.74M 17.11M 17.19M 18.64M 19.92M 21.05M 25.38M
Diluted Earnings per Share		 $1.07 $1.84 $1.91 $2.52 $2.97 $2.10 $0.58 $0.83 $0.68
Weighted Average Diluted Shares Outstanding		 14.01M 14.06M 15.09M 17.44M 17.49M 18.88M 20.14M 21.32M 25.70M
Weighted Average Basic & Diluted Shares Outstanding		 - - 17.11M 17.13M 17.26M 20.06M 19.74M 25.36M 25.40M
Cash Dividends to Common per Share		 $0.48 $0.53 $0.57 $0.60 $0.63 $0.70 $0.75 $0.79 $0.83

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 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
Net Income / (Loss) Attributable to Common Shareholders		 -15 6.43 6.21 5.21 -0.07 13 20 17 -33 23 21
Consolidated Net Income / (Loss)		 -15 6.43 6.21 5.21 -0.07 13 20 17 -33 23 21
Net Income / (Loss) Continuing Operations		 -15 6.43 6.21 5.21 -0.07 13 20 17 -33 23 21
Total Pre-Tax Income 		-18 8.52 8.13 6.80 -0.29 18 26 22 -43 30 27
Total Revenue		 22 48 51 51 72 69 75 73 8.23 76 81
Net Interest Income / (Expense)		 22 22 24 23 38 41 43 43 45 45 48
Total Interest Income		 45 49 53 52 67 68 70 71 70 67 71
Loans and Leases Interest Income		 38 39 42 43 60 61 64 64 64 59 62
Investment Securities Interest Income		 6.96 9.74 11 9.62 7.30 5.87 5.47 6.77 5.91 7.26 7.41
Other Interest Income		 - - - - - 0.82 1.10 - - 1.09 1.00
Total Interest Expense		 23 27 29 30 29 27 27 28 25 22 23
Deposits Interest Expense		 17 20 21 22 26 24 23 24 22 19 19
Short-Term Borrowings Interest Expense		 5.29 5.99 7.05 6.71 2.84 2.84 3.98 2.51 2.57 2.36 2.94
Long-Term Debt Interest Expense		 0.68 0.68 0.68 0.68 0.67 0.65 0.65 0.65 0.65 0.63 1.04
Total Non-Interest Income		 0.79 25 27 28 34 28 32 29 -37 31 33
Other Service Charges		 2.56 1.49 1.92 2.47 6.46 2.44 1.93 2.23 2.82 1.74 3.59
Net Realized & Unrealized Capital Gains on Investments		 - - 0.00 0.00 - - 2.12 -0.04 - - 0.00
Other Non-Interest Income		 23 24 25 26 27 25 28 27 29 29 29
Provision for Credit Losses		 1.51 0.00 4.49 1.66 12 0.86 0.00 0.00 -0.31 -4.88 0.50
Total Non-Interest Expense		 39 39 39 42 60 50 48 51 52 50 53
Salaries and Employee Benefits		 24 26 25 26 33 31 31 31 31 31 33
Net Occupancy & Equipment Expense		 7.54 7.25 6.41 6.96 8.90 8.66 8.43 9.13 10 9.27 8.93
Marketing Expense		 1.24 0.98 0.98 1.09 1.60 1.25 1.13 1.45 1.43 1.22 1.23
Other Operating Expenses		 4.76 3.95 4.63 6.61 14 7.02 5.19 6.17 6.13 7.20 7.84
Amortization Expense		 1.32 1.32 1.32 1.32 2.80 2.71 2.71 2.71 2.38 1.97 1.97
Income Tax Expense		 -3.06 2.09 1.92 1.59 -0.23 4.25 6.10 5.10 -10 7.28 6.41
Basic Earnings per Share		 ($0.73) $0.32 $0.31 $0.26 ($0.05) $0.52 $0.79 $0.66 ($1.28) $0.90 $0.82
Weighted Average Basic Shares Outstanding		 19.92M 19.74M 19.78M 19.79M 21.05M 25.36M 25.37M 25.40M 25.38M 25.38M 25.08M
Diluted Earnings per Share		 ($0.72) $0.32 $0.31 $0.26 ($0.06) $0.52 $0.78 $0.65 ($1.27) $0.89 $0.81
Weighted Average Diluted Shares Outstanding		 20.14M 19.99M 20.05M 20.08M 21.32M 25.65M 25.71M 25.71M 25.70M 25.68M 25.40M
Weighted Average Basic & Diluted Shares Outstanding		 19.74M 19.78M 19.78M 25.34M 25.36M 25.37M 25.40M 25.40M 25.40M 25.13M 24.90M
Cash Dividends to Common per Share		 $0.19 $0.19 $0.20 $0.20 $0.20 $0.20 $0.21 $0.21 $0.21 $0.21 $0.22

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 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 -85 -81 103 29 69 -184 72 -69 5.95
Net Cash From Operating Activities		 48 54 19 -22 150 103 27 22 68
Net Cash From Continuing Operating Activities		 48 54 19 -22 150 103 27 22 68
Net Income / (Loss) Continuing Operations		 15 26 30 45 53 40 12 18 17
Consolidated Net Income / (Loss)		 15 26 30 45 53 40 12 18 17
Provision For Loan Losses		 0.43 8.86 7.31 11 -3.50 0.00 2.06 18 0.56
Depreciation Expense		 9.86 8.73 8.77 8.95 8.87 8.47 8.53 9.84 15
Amortization Expense		 2.07 1.57 1.13 1.74 3.69 3.16 2.03 6.54 2.74
Non-Cash Adjustments to Reconcile Net Income		 2.87 -8.48 -22 -60 88 40 19 -19 46
Changes in Operating Assets and Liabilities, net		 18 17 -5.02 -29 -0.32 11 -16 -12 -14
Net Cash From Investing Activities		 -205 -155 -66 -538 -418 -293 -50 -323 77
Net Cash From Continuing Investing Activities		 -205 -155 -66 -538 -418 -293 -50 -330 77
Purchase of Property, Leasehold Improvements and Equipment		 -2.95 -3.75 -2.90 -3.81 -1.71 -1.79 -3.07 -12 -8.70
Purchase of Investment Securities		 -249 -193 -145 -674 -569 -512 -423 -596 -627
Sale and/or Maturity of Investments		 44 45 82 139 153 221 376 278 712
Net Cash From Financing Activities		 72 20 150 590 337 5.59 95 232 -138
Net Cash From Continuing Financing Activities		 72 20 150 590 337 5.59 95 232 -138
Net Change in Deposits		 50 -36 191 601 349 -359 180 325 -186
Issuance of Debt		 29 63 -93 0.00 50 378 -64 - 70
Repurchase of Common Equity		 -0.29 -0.36 -1.95 -0.48 -0.71 -0.74 -6.64 -0.28 -0.74
Payment of Dividends		 -6.73 -7.46 -8.91 -10 -11 -13 -15 -15 -21
Cash Interest Paid		 8.03 12 18 13 4.54 15 73 110 110
Cash Income Taxes Paid		 13 5.35 7.22 14 13 13 11 0.45 2.64

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 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
Net Change in Cash & Equivalents		 65 416 -108 -372 -4.74 22 -2.08 11 -25 62 -20
Net Cash From Operating Activities		 4.08 12 -11 19 9.52 7.72 11 33 16 28 19
Net Cash From Continuing Operating Activities		 3.39 12 -11 19 9.52 7.72 11 33 16 28 19
Net Income / (Loss) Continuing Operations		 -15 6.43 6.21 5.21 -0.07 13 20 17 -33 23 21
Consolidated Net Income / (Loss)		 -15 6.43 6.21 5.21 -0.07 13 20 17 -33 23 21
Provision For Loan Losses		 1.51 0.00 4.49 1.66 12 0.86 - - -0.31 -4.88 0.50
Depreciation Expense		 2.15 2.10 2.17 2.19 3.39 3.84 3.82 3.89 3.77 3.28 3.38
Amortization Expense		 0.38 0.42 0.45 0.50 5.18 0.16 0.14 1.48 0.96 2.52 0.66
Non-Cash Adjustments to Reconcile Net Income		 28 0.25 -29 24 -8.19 3.53 -15 -1.43 58 -0.32 -5.41
Changes in Operating Assets and Liabilities, net		 -13 2.51 3.78 -15 -2.78 -14 1.14 12 -13 4.24 -1.38
Net Cash From Investing Activities		 45 -22 -106 -102 -100 -49 26 23 76 -1.64 -15
Net Cash From Continuing Investing Activities		 45 -22 -106 -102 -100 -49 26 23 76 -1.64 -15
Purchase of Property, Leasehold Improvements and Equipment		 -1.70 -0.88 -3.69 -2.77 -5.04 -2.05 -3.13 -2.47 -1.05 -2.03 -0.69
Purchase of Investment Securities		 -152 -50 -121 -115 -268 -165 -17 -52 -467 -165 36
Sale and/or Maturity of Investments		 199 29 19 13 168 118 45 78 544 166 -50
Net Cash From Financing Activities		 16 426 9.84 -289 86 63 -39 -45 -117 35 -24
Net Cash From Continuing Financing Activities		 16 426 9.84 -289 86 63 -39 -45 -117 35 -24
Net Change in Deposits		 223 189 14 25 97 107 -148 75 -221 156 -156
Repayment of Debt		 - 241 - - - -39 - -115 - -109 145
Repurchase of Common Equity		 -2.08 -0.15 -0.00 -0.08 -0.04 -0.13 -0.05 -0.34 -0.22 -6.54 -7.11
Payment of Dividends		 -3.78 -3.76 -3.76 -3.96 -3.96 -5.07 -5.34 -5.34 -5.08 -5.08 -5.60
Cash Interest Paid		 22 22 25 37 25 29 28 26 27 24 22
Cash Income Taxes Paid		 4.20 0.00 0.17 0.09 0.19 0.00 0.50 1.71 0.43 -0.05 0.16

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 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Total Assets		 2,179 2,357 3,014 3,393 3,780 3,908 5,262 5,230
Cash and Due from Banks		 41 144 173 242 58 130 61 67
Trading Account Securities		 266 357 715 1,252 1,049 798 883 792
Loans and Leases, Net of Allowance		 1,680 1,697 1,945 1,726 2,413 2,724 3,933 3,986
Loans and Leases		 1,702 1,721 1,979 1,758 2,444 2,760 3,993 4,048
Allowance for Loan and Lease Losses		 22 24 34 32 31 36 60 62
Premises and Equipment, Net		 22 21 20 18 17 18 40 43
Goodwill		 27 27 30 31 47 47 86 86
Intangible Assets		 22 18 26 20 22 17 44 33
Other Assets		 89 92 104 102 170 172 207 216
Total Liabilities & Shareholders' Equity		 2,179 2,357 3,014 3,393 3,780 3,908 5,262 5,230
Total Liabilities		 1,982 2,071 2,684 3,033 3,423 3,539 4,766 4,665
Non-Interest Bearing Deposits		 551 578 755 939 861 728 903 808
Interest Bearing Deposits		 1,249 1,394 1,817 1,982 2,054 2,368 3,475 3,384
Short-Term Debt		 93 - - 0.00 378 314 239 309
Long-Term Debt		 59 59 59 59 59 59 59 59
Other Long-Term Liabilities		 31 41 53 54 70 70 90 105
Commitments & Contingencies		 - - - - 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 197 286 330 359 357 369 495 565
Total Preferred & Common Equity		 197 286 330 359 357 369 495 565
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 197 286 330 359 357 369 495 565
Common Stock		 42 106 107 110 175 170 295 297
Retained Earnings		 159 178 212 254 280 273 274 270
Accumulated Other Comprehensive Income / (Loss)		 -3.60 1.94 11 -4.26 -99 -74 -73 -2.16

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 Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026 Q2 2026
Period end date 3/31/2023 6/30/2023 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026 6/30/2026
Total Assets		 3,887 3,833 3,869 4,338 4,359 4,085 5,340 5,324 5,331 5,288 5,289
Cash and Due from Banks		 145 65 65 546 438 66 83 81 92 129 109
Trading Account Securities		 1,036 1,007 960 779 787 764 852 875 809 794 804
Loans and Leases, Net of Allowance		 2,452 2,498 2,570 2,763 2,877 2,993 4,024 3,985 4,040 3,984 3,986
Loans and Leases		 2,487 2,534 2,606 2,799 2,916 3,032 4,085 4,045 4,102 4,035 4,034
Allowance for Loan and Lease Losses		 35 36 36 37 38 39 62 59 62 51 48
Premises and Equipment, Net		 18 17 17 18 17 19 41 43 44 44 44
Goodwill		 47 47 47 47 47 47 86 86 86 86 86
Intangible Assets		 21 20 18 16 15 13 41 38 36 31 29
Other Assets		 168 179 192 167 176 181 206 208 217 214 224
Total Liabilities & Shareholders' Equity		 3,887 3,833 3,869 4,338 4,359 4,085 5,340 5,324 5,331 5,288 5,289
Total Liabilities		 3,528 3,475 3,520 3,966 3,985 3,698 4,825 4,791 4,780 4,713 4,706
Non-Interest Bearing Deposits		 793 716 718 693 701 658 889 790 777 858 760
Interest Bearing Deposits		 2,239 2,137 2,154 2,592 2,597 2,666 3,596 3,547 3,636 3,490 3,432
Short-Term Debt		 372 492 515 555 555 245 200 315 200 200 345
Long-Term Debt		 59 59 59 59 59 59 59 59 59 59 59
Other Long-Term Liabilities		 65 71 73 68 73 71 81 79 108 106 109
Commitments & Contingencies		 - - - 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 359 358 349 372 373 386 514 533 551 575 583
Total Preferred & Common Equity		 359 358 349 372 373 386 514 533 551 575 583
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 359 358 349 372 373 386 514 533 551 575 583
Common Stock		 175 173 172 171 171 171 296 296 297 291 285
Retained Earnings		 281 286 291 275 278 279 282 297 308 288 303
Accumulated Other Comprehensive Income / (Loss)		 -96 -101 -113 -74 -75 -63 -63 -60 -54 -4.24 -4.98

Annual Metrics And Ratios for Alerus Financial

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

Metric 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
DEI Shares Outstanding		 0.00 0.00 17,049,439.00 17,121,863.00 17,208,077.00 - - - 25,397,303.00
DEI Adjusted Shares Outstanding		 0.00 0.00 17,049,439.00 17,121,863.00 17,208,077.00 - - - 25,397,303.00
DEI Earnings Per Adjusted Shares Outstanding		 0.00 0.00 1.73 2.61 3.06 - - - 0.69
Growth Metrics		 - - - - - - - - -
Revenue Growth		 0.00% -42.62% 92.70% 23.56% 0.54% -10.04% -20.33% 32.07% 1.08%
EBITDA Growth		 0.00% -182.55% 232.99% 41.84% 17.96% -21.83% -58.61% 49.70% 2.82%
EBIT Growth		 0.00% -244.51% 182.78% 50.45% 18.04% -24.46% -69.62% 46.08% -2.45%
NOPAT Growth		 0.00% 72.43% 14.20% 51.24% 17.92% -24.06% -70.76% 52.02% -1.92%
Net Income Growth		 0.00% 72.43% 14.20% 51.24% 17.92% -24.06% -70.76% 52.02% -1.92%
EPS Growth		 0.00% 71.96% 3.80% 31.94% 17.86% -29.29% -72.38% 43.10% -18.07%
Operating Cash Flow Growth		 0.00% 11.83% -64.06% -215.61% 773.34% -31.28% -71.95% 0.26% 210.54%
Free Cash Flow Firm Growth		 0.00% 0.00% 110.60% -99.20% 8,382.85% -1,543.25% 118.85% -152.83% -265.32%
Invested Capital Growth		 0.00% 0.00% -1.36% 12.89% 7.57% 89.75% -6.49% 6.90% 17.58%
Revenue Q/Q Growth		 0.00% 0.00% 0.00% 6.31% -2.23% -1.87% -15.21% 28.93% -22.17%
EBITDA Q/Q Growth		 0.00% 0.00% 0.00% 5.95% 5.78% -1.94% -55.26% 147.48% -53.57%
EBIT Q/Q Growth		 0.00% 0.00% 0.00% 6.44% 6.16% -1.32% -67.11% 311.20% -65.59%
NOPAT Q/Q Growth		 0.00% 0.00% 0.00% 6.00% 5.04% -4.30% -68.69% 475.03% -65.42%
Net Income Q/Q Growth		 0.00% 0.00% 0.00% 6.00% 5.04% -4.30% -68.69% 475.03% -65.42%
EPS Q/Q Growth		 0.00% 0.00% 0.00% 8.62% 4.58% -7.49% -68.48% 388.24% -64.02%
Operating Cash Flow Q/Q Growth		 0.00% 0.00% -31.59% -780.57% 29.91% 18.59% -60.45% 22.61% 11.24%
Free Cash Flow Firm Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 24.00% -64.81% 127.62% -114.12% -76.38%
Invested Capital Q/Q Growth		 0.00% 0.00% 0.00% 2.14% 1.50% 20.73% -19.65% 14.95% 15.20%
Profitability Metrics		 - - - - - - - - -
EBITDA Margin		 26.03% -37.46% 25.85% 29.67% 34.81% 30.25% 15.71% 17.81% 18.12%
EBIT Margin		 19.05% -47.97% 20.61% 25.09% 29.46% 24.74% 9.43% 10.43% 10.07%
Profit (Net Income) Margin		 8.79% 26.41% 15.65% 19.16% 22.47% 18.96% 6.96% 8.01% 7.77%
Tax Burden Percent		 46.14% 78.29% 75.95% 76.34% 76.26% 76.66% 73.77% 76.77% 77.19%
Interest Burden Percent		 100.00% -70.31% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Effective Tax Rate		 53.86% 21.71% 24.05% 23.66% 23.74% 23.34% 26.23% 23.23% 22.81%
Return on Invested Capital (ROIC)		 0.00% 14.81% 8.52% 12.18% 13.05% 6.60% 1.52% 2.32% 2.02%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% 14.81% 8.52% 12.18% 13.05% 6.60% 1.52% 2.32% 2.02%
Return on Net Nonoperating Assets (RNNOA)		 0.00% 11.45% 3.72% 2.32% 2.23% 4.57% 1.70% 1.80% 1.27%
Return on Equity (ROE)		 0.00% 26.27% 12.24% 14.51% 15.28% 11.17% 3.22% 4.11% 3.29%
Cash Return on Invested Capital (CROIC)		 0.00% -185.19% 9.88% 0.07% 5.76% -55.35% 8.23% -4.35% -14.14%
Operating Return on Assets (OROA)		 0.00% -2.16% 1.72% 2.18% 2.16% 1.46% 0.41% 0.51% 0.43%
Return on Assets (ROA)		 0.00% 1.19% 1.30% 1.66% 1.64% 1.12% 0.30% 0.39% 0.33%
Return on Common Equity (ROCE)		 0.00% 26.27% 12.24% 14.51% 15.28% 11.17% 3.22% 4.11% 3.29%
Return on Equity Simple (ROE_SIMPLE)		 0.00% 13.13% 10.34% 13.53% 14.66% 11.21% 3.17% 3.59% 3.09%
Net Operating Profit after Tax (NOPAT)		 15 26 30 45 53 40 12 18 17
NOPAT Margin		 8.79% 26.41% 15.65% 19.16% 22.47% 18.96% 6.96% 8.01% 7.77%
Net Nonoperating Expense Percent (NNEP)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
SG&A Expenses to Revenue		 18.85% 34.86% 66.52% 60.86% 62.98% 63.61% 76.81% 65.08% 74.08%
Operating Expenses to Revenue		 79.03% 139.18% 75.52% 70.23% 72.03% 75.26% 89.34% 81.39% 89.68%
Earnings before Interest and Taxes (EBIT)		 33 -47 39 59 69 52 16 23 23
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 44 -37 49 69 82 64 26 40 41
Valuation Ratios		 - - - - - - - - -
Price to Book Value (P/BV)		 0.00 0.27 1.19 1.27 1.28 1.20 1.14 0.97 1.00
Price to Tangible Book Value (P/TBV)		 0.00 0.36 1.41 1.53 1.50 1.48 1.38 1.32 1.27
Price to Revenue (P/Rev)		 0.78 0.54 1.80 1.80 1.97 2.02 2.51 2.17 2.53
Price to Earnings (P/E)		 8.89 0.00 11.49 9.40 8.76 10.66 36.01 27.12 32.51
Dividend Yield		 0.00% 0.00% 1.46% 2.45% 2.35% 3.28% 3.52% 4.15% 3.72%
Earnings Yield		 11.24% 0.00% 8.71% 10.63% 11.42% 9.38% 2.78% 3.69% 3.08%
Enterprise Value to Invested Capital (EV/IC)		 0.00 0.47 0.74 0.79 0.66 1.01 0.90 0.91 0.93
Enterprise Value to Revenue (EV/Rev)		 0.00 1.68 1.35 1.31 1.19 3.82 3.95 3.24 3.87
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 5.21 4.42 3.40 12.62 25.16 18.18 21.35
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 6.53 5.23 4.02 15.43 41.91 31.04 38.41
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 6.35 8.60 6.85 5.27 20.13 56.81 40.44 49.76
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 3.07 13.20 0.00 1.85 7.82 23.00 24.83 12.85
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 7.41 1,116.43 11.95 0.00 10.51 0.00 0.00
Leverage & Solvency		 - - - - - - - - -
Debt to Equity		 0.00 0.77 0.21 0.18 0.16 1.22 1.01 0.60 0.65
Long-Term Debt to Equity		 0.00 0.30 0.21 0.18 0.16 0.16 0.16 0.12 0.10
Financial Leverage		 0.00 0.77 0.44 0.19 0.17 0.69 1.12 0.78 0.63
Leverage Ratio		 0.00 11.06 9.40 8.72 9.29 10.01 10.59 10.61 9.89
Compound Leverage Factor		 0.00 -7.78 9.40 8.72 9.29 10.01 10.59 10.61 9.89
Debt to Total Capital		 0.00% 43.60% 17.06% 15.10% 14.09% 55.04% 50.27% 37.56% 39.44%
Short-Term Debt to Total Capital		 0.00% 26.76% 0.00% 0.00% 0.00% 47.63% 42.33% 30.12% 33.10%
Long-Term Debt to Total Capital		 0.00% 16.84% 17.06% 15.10% 14.09% 7.41% 7.94% 7.44% 6.34%
Preferred Equity to Total Capital		 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%
Common Equity to Total Capital		 0.00% 56.40% 82.94% 84.90% 85.91% 44.96% 49.73% 62.44% 60.56%
Debt to EBITDA		 0.00 -4.15 1.20 0.85 0.72 6.85 14.13 7.54 9.05
Net Debt to EBITDA		 0.00 -3.04 -1.75 -1.65 -2.25 5.93 9.21 5.99 7.40
Long-Term Debt to EBITDA		 0.00 -1.60 1.20 0.85 0.72 0.92 2.23 1.49 1.46
Debt to NOPAT		 0.00 5.89 1.99 1.31 1.12 10.92 31.90 16.76 21.10
Net Debt to NOPAT		 0.00 4.32 -2.89 -2.56 -3.48 9.47 20.80 13.32 17.25
Long-Term Debt to NOPAT		 0.00 2.27 1.99 1.31 1.12 1.47 5.04 3.32 3.39
Noncontrolling Interest Sharing Ratio		 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)		 0.00 -323 34 0.27 23 -335 63 -33 -122
Operating Cash Flow to CapEx		 8,613.31% 1,431.13% 950.05% -583.89% 8,782.65% 5,755.51% 910.31% 589.82% 776.30%
Free Cash Flow to Firm to Interest Expense		 0.00 -25.92 1.83 0.02 4.18 -21.17 0.82 -0.29 -1.14
Operating Cash Flow to Interest Expense		 6.01 4.29 1.03 -1.82 26.96 6.50 0.37 0.25 0.63
Operating Cash Flow Less CapEx to Interest Expense		 5.94 3.99 0.92 -2.13 26.65 6.38 0.33 0.21 0.55
Efficiency Ratios		 - - - - - - - - -
Asset Turnover		 0.00 0.04 0.08 0.09 0.07 0.06 0.04 0.05 0.04
Fixed Asset Turnover		 0.00 4.50 8.91 11.40 12.13 11.83 9.54 7.69 5.40
Capital & Investment Metrics		 - - - - - - - - -
Invested Capital		 0.00 349 344 389 418 794 742 793 933
Invested Capital Turnover		 0.00 0.56 0.54 0.64 0.58 0.35 0.22 0.29 0.26
Increase / (Decrease) in Invested Capital		 0.00 349 -4.74 44 29 375 -52 51 139
Enterprise Value (EV)		 0.00 164 254 306 278 805 664 719 868
Market Capitalization		 133 53 339 420 461 426 421 482 567
Book Value per Share		 $0.00 $14.31 $16.76 $19.28 $20.89 $17.86 $18.67 $19.55 $22.24
Tangible Book Value per Share		 $0.00 $10.69 $14.08 $16.01 $17.88 $14.38 $15.43 $14.44 $17.56
Total Capital		 0.00 349 344 389 418 794 742 793 933
Total Debt		 0.00 152 59 59 59 437 373 298 368
Total Long-Term Debt		 0.00 59 59 59 59 59 59 59 59
Net Debt		 0.00 112 -85 -114 -183 379 243 237 301
Capital Expenditures (CapEx)		 0.56 3.74 2.03 3.81 1.71 1.79 3.17 4.91 8.70
Net Nonoperating Expense (NNE)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Nonoperating Obligations (NNO)		 0.00 152 59 59 59 437 373 298 368
Total Depreciation and Amortization (D&A)		 12 10 9.90 11 13 12 11 16 18
Earnings Adjustments		 - - - - - - - - -
Adjusted Basic Earnings per Share		 $1.10 $1.88 $1.96 $2.57 $3.02 $2.12 $0.59 $0.84 $0.69
Adjusted Weighted Average Basic Shares Outstanding		 13.65M 13.76M 14.74M 17.11M 17.19M 18.64M 19.92M 21.05M 25.38M
Adjusted Diluted Earnings per Share		 $1.07 $1.84 $1.91 $2.52 $2.97 $2.10 $0.58 $0.83 $0.68
Adjusted Weighted Average Diluted Shares Outstanding		 14.01M 14.06M 15.09M 17.44M 17.49M 18.88M 20.14M 21.32M 25.70M
Adjusted Basic & Diluted Earnings per Share		 $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		 0.00 0.00 17.11M 17.13M 17.26M 20.06M 19.74M 25.36M 25.40M
Normalized Net Operating Profit after Tax (NOPAT)		 23 26 30 45 53 40 12 18 17
Normalized NOPAT Margin		 13.33% 26.41% 15.65% 19.16% 22.47% 18.96% 6.96% 8.01% 7.77%
Pre Tax Income Margin		 19.05% 33.73% 20.61% 25.09% 29.46% 24.74% 9.43% 10.43% 10.07%
Debt Service Ratios		 - - - - - - - - -
EBIT to Interest Expense		 4.08 -3.77 2.07 4.77 12.43 3.29 0.21 0.20 0.21
NOPAT to Interest Expense		 1.88 2.07 1.58 3.65 9.48 2.52 0.15 0.16 0.16
EBIT Less CapEx to Interest Expense		 4.01 -4.07 1.97 4.46 12.12 3.18 0.16 0.16 0.13
NOPAT Less CapEx to Interest Expense		 1.81 1.77 1.47 3.33 9.17 2.41 0.11 0.11 0.08
Payout Ratios		 - - - - - - - - -
Dividend Payout Ratio		 44.86% 28.83% 30.16% 23.25% 20.41% 32.00% 126.73% 86.87% 119.40%
Augmented Payout Ratio		 46.82% 30.20% 36.75% 24.33% 21.76% 33.84% 183.48% 88.42% 123.63%

Quarterly Metrics And Ratios for Alerus Financial

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

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
DEI Shares Outstanding		 - - - - - 25,362,855.00 25,365,662.00 25,396,307.00 25,397,303.00 25,401,161.00 25,128,646.00
DEI Adjusted Shares Outstanding		 - - - - - 25,362,855.00 25,365,662.00 25,396,307.00 25,397,303.00 25,401,161.00 25,128,646.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - 0.53 0.80 0.67 -1.30 0.90 0.83
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 -57.43% -2.80% 7.00% 4.31% 222.95% 44.69% 45.59% 42.55% -88.60% 10.13% 7.84%
EBITDA Growth		 -188.25% -15.77% -32.50% -25.19% 154.08% 95.34% 182.07% 188.94% -567.04% 67.20% 3.28%
EBIT Growth		 -222.61% -18.77% -30.14% -41.11% 98.36% 106.04% 224.15% 224.04% -14,746.23% 72.26% 3.50%
NOPAT Growth		 -214.34% -21.43% -31.81% -43.16% 98.36% 107.01% 226.24% 225.02% -14,746.23% 72.52% 3.02%
Net Income Growth		 -235.26% -21.43% -31.81% -43.16% 99.55% 107.01% 226.24% 225.02% -49,232.84% 72.52% 3.02%
EPS Growth		 -233.33% -20.00% -31.11% -42.22% 91.67% 62.50% 151.61% 150.00% -2,016.67% 71.15% 3.85%
Operating Cash Flow Growth		 -91.54% 603.11% -179.87% 47.91% 133.31% -34.13% 185.83% 62.37% 608.89% 260.51% 73.97%
Free Cash Flow Firm Growth		 110.72% 52.08% 75.14% 192.86% -231.54% 219.33% 238.99% -143.01% -230.46% -116.67% -159.27%
Invested Capital Growth		 -6.49% 24.74% 8.65% -25.28% 6.90% -21.54% -8.14% 17.33% 17.58% 7.83% 8.88%
Revenue Q/Q Growth		 -54.22% 112.78% 8.06% -0.91% 41.75% -4.67% 8.73% -2.98% -88.67% 821.08% 6.47%
EBITDA Q/Q Growth		 -220.69% 164.75% -2.62% -11.82% -12.75% 160.75% 40.61% -9.67% -241.02% 193.35% -13.14%
EBIT Q/Q Growth		 -254.38% 147.83% -4.60% -16.41% -104.30% 6,114.04% 50.09% -16.44% -296.83% 169.78% -9.82%
NOPAT Q/Q Growth		 -236.16% 151.57% -3.48% -16.12% -103.93% 6,614.19% 52.11% -16.44% -279.31% 175.70% -9.17%
Net Income Q/Q Growth		 -261.06% 143.59% -3.48% -16.12% -101.29% 19,973.13% 52.11% -16.44% -295.30% 169.50% -9.17%
EPS Q/Q Growth		 -260.00% 144.44% -3.13% -16.13% -123.08% 966.67% 50.00% -16.67% -295.38% 170.08% -8.99%
Operating Cash Flow Q/Q Growth		 -68.14% 840.98% -195.81% 264.87% -49.74% 234.71% 38.61% 206.54% -50.15% 70.21% -33.11%
Free Cash Flow Firm Q/Q Growth		 115.19% -583.90% 61.71% 429.87% -121.52% 539.00% -55.40% -202.07% -65.37% 77.86% -58.59%
Invested Capital Q/Q Growth		 -19.65% 32.79% 0.16% -30.09% 14.95% -2.53% 17.27% -10.70% 15.20% -10.61% 18.40%
Profitability Metrics		 - - - - - - - - - - -
EBITDA Margin		 -68.44% 23.22% 20.93% 18.62% 11.46% 31.35% 40.54% 37.74% -469.59% 47.59% 38.83%
EBIT Margin		 -79.75% 17.93% 15.83% 13.35% -0.40% 25.53% 35.24% 30.35% -527.06% 39.93% 33.82%
Profit (Net Income) Margin		 -66.04% 13.53% 12.08% 10.23% -0.09% 19.36% 27.08% 23.32% -401.86% 30.32% 25.87%
Tax Burden Percent		 82.80% 75.47% 76.35% 76.61% 22.95% 75.82% 76.84% 76.84% 76.25% 75.94% 76.49%
Interest Burden Percent		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Effective Tax Rate		 0.00% 24.53% 23.65% 23.39% 0.00% 24.18% 23.16% 23.16% 0.00% 24.06% 23.51%
Return on Invested Capital (ROIC)		 -12.22% 2.54% 2.17% 2.18% -0.08% 5.35% 7.62% 8.96% -95.90% 8.73% 6.48%
ROIC Less NNEP Spread (ROIC-NNEP)		 -12.78% 2.54% 2.17% 2.18% -0.04% 5.35% 7.62% 8.96% -96.72% 8.73% 6.48%
Return on Net Nonoperating Assets (RNNOA)		 -14.26% 3.63% 3.46% 2.60% -0.03% 5.28% 8.31% 5.38% -60.75% 4.15% 4.52%
Return on Equity (ROE)		 -26.48% 6.17% 5.62% 4.79% -0.11% 10.63% 15.93% 14.35% -156.65% 12.88% 10.99%
Cash Return on Invested Capital (CROIC)		 8.23% -20.90% -7.55% 29.33% -4.35% 26.94% 12.57% -9.22% -14.14% -4.17% -5.57%
Operating Return on Assets (OROA)		 -3.49% 0.73% 0.66% 0.58% -0.02% 1.28% 1.94% 1.86% -22.54% 1.74% 1.51%
Return on Assets (ROA)		 -2.89% 0.55% 0.50% 0.44% 0.00% 0.97% 1.49% 1.43% -17.19% 1.32% 1.16%
Return on Common Equity (ROCE)		 -26.48% 6.17% 5.62% 4.79% -0.11% 10.63% 15.93% 14.35% -156.65% 12.88% 10.99%
Return on Equity Simple (ROE_SIMPLE)		 0.00% 2.68% 1.89% 0.80% 0.00% 4.80% 7.26% 9.16% 0.00% 4.71% 4.75%
Net Operating Profit after Tax (NOPAT)		 -12 6.43 6.21 5.21 -0.20 13 20 17 -30 23 21
NOPAT Margin		 -55.83% 13.53% 12.08% 10.23% -0.28% 19.36% 27.08% 23.32% -368.94% 30.32% 25.87%
Net Nonoperating Expense Percent (NNEP)		 0.56% 0.00% 0.00% 0.00% -0.04% 0.00% 0.00% 0.00% 0.81% 0.00% 0.00%
SG&A Expenses to Revenue		 145.80% 70.99% 63.84% 67.80% 60.14% 59.07% 54.20% 57.42% 527.32% 54.40% 53.40%
Operating Expenses to Revenue		 173.01% 82.07% 75.43% 83.38% 83.79% 73.22% 64.76% 69.65% 630.80% 66.52% 65.57%
Earnings before Interest and Taxes (EBIT)		 -18 8.52 8.13 6.80 -0.29 18 26 22 -43 30 27
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -15 11 11 9.48 8.27 22 30 27 -39 36 31
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 1.14 1.15 1.04 1.17 0.97 0.88 1.03 1.02 1.00 1.05 1.34
Price to Tangible Book Value (P/TBV)		 1.38 1.38 1.24 1.39 1.32 1.16 1.34 1.31 1.27 1.32 1.67
Price to Revenue (P/Rev)		 2.51 2.56 2.28 2.63 2.17 1.86 2.06 1.95 2.53 2.60 3.29
Price to Earnings (P/E)		 36.01 42.88 55.04 146.35 27.12 18.29 14.18 11.15 32.51 22.23 28.21
Dividend Yield		 3.52% 3.52% 3.93% 3.41% 4.15% 4.50% 3.74% 3.70% 3.72% 3.54% 2.73%
Earnings Yield		 2.78% 2.33% 1.82% 0.68% 3.69% 5.47% 7.05% 8.97% 3.08% 4.50% 3.55%
Enterprise Value to Invested Capital (EV/IC)		 0.90 0.50 0.57 1.00 0.91 0.81 0.93 0.90 0.93 0.88 1.09
Enterprise Value to Revenue (EV/Rev)		 3.95 2.97 3.31 4.01 3.24 2.58 3.16 2.53 3.87 3.17 4.54
Enterprise Value to EBITDA (EV/EBITDA)		 25.16 20.31 29.41 43.21 18.18 12.53 12.09 8.33 21.35 13.29 19.18
Enterprise Value to EBIT (EV/EBIT)		 41.91 35.61 54.32 122.56 31.04 19.48 16.69 11.11 38.41 20.77 29.74
Enterprise Value to NOPAT (EV/NOPAT)		 56.81 49.74 80.00 223.25 40.44 25.43 21.75 14.46 49.76 27.04 38.86
Enterprise Value to Operating Cash Flow (EV/OCF)		 23.00 11.41 32.24 29.23 24.83 35.34 17.49 12.01 12.85 8.36 11.27
Enterprise Value to Free Cash Flow (EV/FCFF)		 10.51 0.00 0.00 2.92 0.00 2.65 7.07 0.00 0.00 0.00 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 1.01 1.65 1.65 0.79 0.60 0.50 0.70 0.47 0.65 0.45 0.69
Long-Term Debt to Equity		 0.16 0.16 0.16 0.15 0.12 0.11 0.11 0.11 0.10 0.10 0.10
Financial Leverage		 1.12 1.43 1.59 1.19 0.78 0.99 1.09 0.60 0.63 0.48 0.70
Leverage Ratio		 10.59 11.26 11.21 10.81 10.61 10.92 10.68 10.05 9.89 9.76 9.51
Compound Leverage Factor		 10.59 11.26 11.21 10.81 10.61 10.92 10.68 10.05 9.89 9.76 9.51
Debt to Total Capital		 50.27% 62.29% 62.20% 44.01% 37.56% 33.50% 41.21% 32.00% 39.44% 31.08% 40.94%
Short-Term Debt to Total Capital		 42.33% 56.31% 56.22% 35.45% 30.12% 25.86% 34.69% 24.70% 33.10% 23.98% 34.94%
Long-Term Debt to Total Capital		 7.94% 5.98% 5.98% 8.55% 7.44% 7.64% 6.52% 7.30% 6.34% 7.10% 6.00%
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% 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% 0.00%
Common Equity to Total Capital		 49.73% 37.71% 37.81% 55.99% 62.44% 66.50% 58.79% 68.00% 60.56% 68.92% 59.06%
Debt to EBITDA		 14.13 25.22 32.03 19.01 7.54 5.18 5.37 2.96 9.05 4.70 7.20
Net Debt to EBITDA		 9.21 2.80 9.18 14.88 5.99 3.52 4.21 1.91 7.40 2.36 5.26
Long-Term Debt to EBITDA		 2.23 2.42 3.08 3.70 1.49 1.18 0.85 0.68 1.46 1.07 1.06
Debt to NOPAT		 31.90 61.76 87.14 98.23 16.76 10.51 9.66 5.14 21.10 9.57 14.59
Net Debt to NOPAT		 20.80 6.86 24.96 76.90 13.32 7.14 7.56 3.31 17.25 4.81 10.66
Long-Term Debt to NOPAT		 5.04 5.93 8.38 19.09 3.32 2.40 1.53 1.17 3.39 2.19 2.14
Noncontrolling Interest Sharing Ratio		 0.00% 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)		 39 -189 -72 239 -51 226 101 -103 -170 -38 -60
Operating Cash Flow to CapEx		 240.14% 1,360.84% -311.72% 684.95% 2,518.25% 375.61% 341.55% 1,329.32% 1,559.16% 1,372.13% 2,711.95%
Free Cash Flow to Firm to Interest Expense		 1.69 -7.05 -2.49 8.05 -1.77 8.35 3.67 -3.73 -6.74 -1.70 -2.60
Operating Cash Flow to Interest Expense		 0.18 0.45 -0.40 0.64 0.33 0.29 0.39 1.19 0.65 1.26 0.81
Operating Cash Flow Less CapEx to Interest Expense		 0.10 0.41 -0.52 0.55 0.31 0.21 0.28 1.10 0.61 1.17 0.78
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.04 0.04 0.04 0.04 0.05 0.05 0.06 0.06 0.04 0.04 0.04
Fixed Asset Turnover		 9.54 9.31 9.77 9.57 7.69 8.26 8.89 9.17 5.40 5.46 5.48
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 742 986 987 690 793 773 907 810 933 834 987
Invested Capital Turnover		 0.22 0.19 0.18 0.21 0.29 0.28 0.28 0.38 0.26 0.29 0.25
Increase / (Decrease) in Invested Capital		 -52 195 79 -234 51 -212 -80 120 139 61 81
Enterprise Value (EV)		 664 495 564 690 719 627 842 729 868 733 1,077
Market Capitalization		 421 426 388 453 482 451 549 562 567 602 782
Book Value per Share		 $18.67 $18.83 $18.87 $19.54 $19.55 $20.28 $21.02 $21.68 $22.24 $22.62 $23.21
Tangible Book Value per Share		 $15.43 $15.66 $15.77 $16.51 $14.44 $15.28 $16.13 $16.90 $17.56 $18.02 $18.63
Total Capital		 742 986 987 690 793 773 907 810 933 834 987
Total Debt		 373 614 614 304 298 259 374 259 368 259 404
Total Long-Term Debt		 59 59 59 59 59 59 59 59 59 59 59
Net Debt		 243 68 176 238 237 176 293 167 301 130 295
Capital Expenditures (CapEx)		 1.70 0.88 3.69 2.77 0.38 2.05 3.13 2.47 1.05 2.03 0.69
Net Nonoperating Expense (NNE)		 2.28 0.00 0.00 0.00 -0.14 0.00 0.00 0.00 2.71 0.00 0.00
Net Nonoperating Obligations (NNO)		 373 614 614 304 298 259 374 259 368 259 404
Total Depreciation and Amortization (D&A)		 2.53 2.52 2.62 2.68 8.56 4.00 3.97 5.36 4.73 5.81 4.04
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 ($0.73) $0.32 $0.31 $0.26 ($0.05) $0.52 $0.79 $0.66 ($1.28) $0.90 $0.82
Adjusted Weighted Average Basic Shares Outstanding		 19.92M 19.74M 19.78M 19.79M 21.05M 25.36M 25.37M 25.40M 25.38M 25.38M 25.08M
Adjusted Diluted Earnings per Share		 ($0.72) $0.32 $0.31 $0.26 ($0.06) $0.52 $0.78 $0.65 ($1.27) $0.89 $0.81
Adjusted Weighted Average Diluted Shares Outstanding		 20.14M 19.99M 20.05M 20.08M 21.32M 25.65M 25.71M 25.71M 25.70M 25.68M 25.40M
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 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 19.74M 19.78M 19.78M 25.34M 25.36M 25.37M 25.40M 25.40M 25.40M 25.13M 24.90M
Normalized Net Operating Profit after Tax (NOPAT)		 -12 6.43 6.21 5.21 -0.20 13 20 17 -30 23 21
Normalized NOPAT Margin		 -55.83% 13.53% 12.08% 10.23% -0.28% 19.36% 27.08% 23.32% -368.94% 30.32% 25.87%
Pre Tax Income Margin		 -79.75% 17.93% 15.83% 13.35% -0.40% 25.53% 35.24% 30.35% -527.06% 39.93% 33.82%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 -0.77 0.32 0.28 0.23 -0.01 0.65 0.96 0.80 -1.72 1.37 1.19
NOPAT to Interest Expense		 -0.54 0.24 0.21 0.18 -0.01 0.49 0.74 0.62 -1.20 1.04 0.91
EBIT Less CapEx to Interest Expense		 -0.84 0.28 0.15 0.14 -0.02 0.57 0.85 0.71 -1.76 1.28 1.16
NOPAT Less CapEx to Interest Expense		 -0.61 0.21 0.09 0.08 -0.02 0.42 0.63 0.53 -1.25 0.95 0.88
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 126.73% 150.46% 211.69% 493.63% 86.87% 67.96% 47.36% 39.09% 119.40% 76.87% 76.14%
Augmented Payout Ratio		 183.48% 215.14% 261.08% 568.47% 88.42% 68.97% 48.13% 40.20% 123.63% 103.24% 127.40%

Financials Breakdown Chart

Key Financial Trends

Alerus Financial (NASDAQ:ALRS) showed continued earnings recovery in the second quarter of 2026. Net income was $20.9 million, or $0.81 per diluted share, compared with $20.3 million, or $0.78 per diluted share, in the restated second quarter of 2025. This represents modest earnings-per-share growth despite higher operating expenses and a return to credit-loss provisioning.

Revenue increased to $80.7 million from $74.8 million a year earlier. Net interest income was the primary driver, rising to $47.7 million from $43.0 million as loan interest income increased. Net interest income has also improved from $22.2 million in the first quarter of 2023 and $38.3 million in the fourth quarter of 2024, although the pace of improvement has moderated recently.

  • Improving core revenue: Second-quarter revenue rose approximately 8% year over year, while net interest income increased approximately 11% to $47.7 million.
  • Return to consistent profitability: Alerus has generated profits in Q1 and Q2 2026 after reporting a $33.1 million loss in Q4 2025. The latest quarter also marked a significant improvement from the $6.7 million loss reported in Q4 2024.
  • Stronger capital position: Total common equity increased to $583.1 million in Q2 2026 from $533.2 million in Q2 2025. The improvement was supported by retained earnings and a much smaller accumulated other comprehensive loss.
  • Credit-loss allowance declined: The allowance for loan and lease losses fell to $48.4 million from $59.3 million a year earlier, while second-quarter provision expense remained relatively low at $495,000.
  • Operating cash flow remains positive: Cash generated from operating activities was $18.6 million in Q2 2026 and $27.8 million in Q1 2026, compared with $10.7 million in Q2 2025.
  • Shareholder returns increased: The quarterly dividend rose to $0.22 per share from $0.21, and Alerus repurchased approximately $7.1 million of common stock during the quarter.
  • Loan balances are stable rather than expanding: Net loans were approximately $4.0 billion in Q2 2026, nearly unchanged from Q2 2025. This provides a stable earning-asset base but does not yet indicate strong loan-growth momentum.
  • Investment portfolio activity was volatile: Investing cash flow was negative $14.7 million in Q2 2026 after being positive $25.8 million in Q2 2025, reflecting substantial changes in investment-security purchases and maturities.
  • Deposit balances remain under pressure: Total deposits declined to approximately $4.20 billion from $4.34 billion a year earlier. The second quarter included a $156.0 million deposit outflow, which could constrain future loan growth or require more expensive funding.
  • Expense growth exceeded earnings growth: Non-interest expense rose to $52.9 million from $48.4 million a year earlier, an increase of roughly 9%. Salaries and employee benefits increased to $32.9 million, contributing to pressure on operating efficiency.

The balance sheet is substantially larger than it was several years ago: total assets were $5.29 billion in Q2 2026 compared with $4.09 billion in Q3 2024 and $3.83 billion in Q2 2023. However, asset growth has leveled off over the past year, and cash declined to $109.0 million from $128.8 million in Q1 2026. Trading account securities also declined year over year.

Credit quality should remain an important monitoring point. The allowance-to-gross-loan ratio was approximately 1.2% in Q2 2026, down from about 1.5% in Q2 2025. While the lower allowance may reflect improved expectations, it also leaves less reserve coverage if loan losses rise. In addition, the large provision release recorded in Q1 2026 and the unusual Q4 2025 results make quarterly comparisons less clean.

Overall, Alerus Financial’s recent trend is cautiously constructive. Net interest income, profitability, capital and operating cash flow have improved from the weaker periods in 2024 and late 2025. Investors should nevertheless watch deposit retention, operating expenses, reserve coverage and the sustainability of earnings excluding unusual credit-loss adjustments and investment-portfolio activity.

08/30/26 10:54 PM ETAI Generated. May Contain Errors.

Alerus Financial Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Alerus Financial's fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

Alerus Financial's net income appears to be on a downward trend, with a most recent value of $17.44 million in 2025, rising from $15.00 million in 2017. The previous period was $17.78 million in 2024. See where experts think Alerus Financial is headed by visiting Alerus Financial's forecast page.

Over the last 8 years, Alerus Financial's total revenue changed from $170.72 million in 2017 to $224.38 million in 2025, a change of 31.4%.

Alerus Financial's total liabilities were at $4.67 billion at the end of 2025, a 2.1% decrease from 2024, and a 135.4% increase since 2018.

In the past 7 years, Alerus Financial's cash and equivalents has ranged from $40.65 million in 2018 to $242.31 million in 2021, and is currently $67.19 million as of their latest financial filing in 2025.

Over the last 8 years, Alerus Financial's book value per share changed from 0.00 in 2017 to 22.24 in 2025, a change of 2,224.4%.


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Financial statements for NASDAQ:ALRS last updated on 8/3/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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