Alerus Financial Corporation Reports Third Quarter 2026 Net Income of $19.2 Million
Alerus Financial reported Q3 2026 net income of $19.2 million, or $0.76 per diluted share, up from $0.65 a year ago but down from $0.81 in Q2. Net interest income rose 8.3% year-over-year and noninterest income grew 16.7%, with commercial and business lending up 36.5% YoY and now 37.1% of the loan portfolio. Credit quality improved: nonperforming assets fell to $16.4 million, the quarter saw net recoveries, though the provision rose to $2.2 million from $0.5 million in Q2.
Key figures
- Eps
- 0.76
- Revenue
- $81.1 million (total revenue: $46.7M net interest income + $34.4M noninterest income)
- Revenue Yoy
- net interest income +8.3%, noninterest income +16.7%
- Roa
- 1.45%
- Rote
- 17.35%
- Cet1 ratio
- 10.52%
- Eps q2 2026
- 0.81
- Eps q3 2025
- 0.65
- Total loans
- $4.2 billion
- Total assets
- $5.4 billion
- Total deposits
- $4.3 billion
- Adjusted pnr 9m
- $78.7 million (+18.9% YoY)
- Loan growth qoq
- 3.7% ($150.5 million)
- Deposit growth qoq
- 2.7% ($111.2 million)
- Net income q3 2025
- $16.9 million
- Net income q3 2026
- $19.2 million
- Noninterest income
- $34.4 million
- Shares repurchased
- $8.2 million at $32.75 avg
- Capital returned 9m
- $37.2 million
- Net interest income
- $46.7 million
- Net interest margin
- 3.84%
- Nonperforming assets
- $16.4 million
- Aum aum administration
- $50.1 billion
- Net recoveries to avg loans
- (0.10)%
- Provision for credit losses
- $2.2 million
- Tangible book value per share
- $18.74 (+10.9% YoY)
- Noninterest income pct of revenue
- 42.4%
- Commercial business lending growth yoy
- 36.5%
AI analysis
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