ALERUS FINANCIAL CORP (ALRS) Form 8-K — Oct 28, 2026
Alerus Financial Corporation (Nasdaq: ALRS) reported third quarter 2026 net income of $19.2 million, or $0.76 per diluted share, up from $16.9 million, or $0.65 per diluted share, in the third quarter of 2025. Growth was driven by an 8.3% year-over-year increase in net interest income and a 16.7% jump in noninterest income, with commercial and business lending up 36.5% YoY and now representing 37.1% of the loan portfolio. Total loans grew $150.5 million (3.7%) and deposits rose $111.2 million (2.7%) from the prior quarter. Credit quality continued to improve, with nonperforming assets down 76.4% from year-end 2025 to $16.4 million and net recoveries of $1.0 million during the quarter.
Key figures
- Eps
- 0.76
- Revenue
- Net interest income of $46.7 million plus noninterest income of $34.4 million in Q3 2026
- Net Income
- 19200000
- Total Debt
- Short-term borrowings of $318.4 million and long-term debt of $59.3 million
- Revenue Yoy
- Net interest income +8.3% YoY; noninterest income +16.7% YoY
- Total Assets
- 5403103000
- Cash Position
- 65756000
- Shares Outstanding
- 24744269
- Cet1 ratio
- 10.52%
- Total loans
- 4184760000
- Total deposits
- 4303177000
- Net interest margin
- 3.84%
- Nonperforming assets
- 16379000
- Q3 share repurchases
- $8.2 million at average price of $32.75 (250,000 shares)
- Return on avg assets
- 1.45%
- Retirement wealth aum
- $50.1 billion, +2.7% YoY
- Adjusted ppnr nine months
- $78.7 million, +18.9% YoY
- Nine month capital return
- $37.2 million via dividends and buybacks
- Tangible book value per share
- 18.74
- Tangible book value growth yoy
- 10.9%
- Return on avg tangible common equity
- 17.35%
- Commercial business lending growth yoy
- 36.5%
AI analysis
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