Alerus Financial Corporation Reports Second Quarter 2026 Net Income of $20.9 Million

Alerus Financial reported Q2 2026 net income of $20.9 million, or $0.81 per diluted share, an increase from $20.3 million or $0.78 per share in the prior year quarter. Net interest income rose 10.9% year-over-year to $47.7 million, driven by a 46 basis point increase in net interest margin to 3.97%. Noninterest income increased 3.7% year-over-year to $32.9 million, supported by growth in wealth advisory and retirement services. Asset quality improved significantly, with nonperforming assets falling 75.3% year-over-year to $17.1 million, representing 0.32% of total assets.

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