ALERUS FINANCIAL CORP (ALRS) Form 10-Q — Nov 5, 2026
Alerus Financial reported Q3 2026 net income of $19.2 million, or $0.76 per diluted share, up 13.4% from $16.9 million ($0.65) a year earlier. Net interest income grew 8.3% YoY to $46.7 million as net interest margin expanded 34 bps to 3.84%, aided by lower deposit costs following Fed rate cuts and higher securities yields after a Q4 2025 balance-sheet repositioning. Noninterest income rose 16.7% to $34.4 million, boosted by a $1.6 million property-sale gain and wealth advisory growth. Nine-month net income reached $63.0 million, up 24.8% YoY.
Key figures
- Eps
- 0.76
- Revenue
- Total Q3 2026 revenue ~$81.1M (net interest income $46.7M + noninterest income $34.4M)
- Net Income
- 19200000
- Total Assets
- 5403103000
- Cash Position
- 65756000
- Total deposits
- $4.30B
- Wealth advisory AUM
- $5.16B
- Book value per share
- 23.31
- Dividend per share q3
- 0.22
- Nine month net income
- $63.0M, up 24.8% YoY
- Retirement services AUM
- $44.94B
- New buyback authorization
- 1,250,000 shares approved August 26, 2026
- Q3 2026 net income yoy pct
- 13.4
- Shares repurchased 9m 2026
- 750000
- Net interest margin q3 2026
- 3.84% (up 34 bps YoY)
- Tangible book value per share
- 18.74
- Provision for credit losses q3 2026
- $2.2M vs. none in Q3 2025
AI analysis
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