Alerus Financial Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Interest Income on Loans	253.7	183.56	136.92	89.91	78.13
Interest Income on Investments	25.94	38.02	27.97	25.67	14.52
Total Interest Income	279.64	221.58	164.88	115.58	92.66
Interest Paid on Deposits	92.64	89.24	53.39	9.17	3.66
Interest Paid on Borrowings	14.5	25.29	23.66	6.68	1.9
Total Interest Expense	107.14	114.53	77.04	15.85	5.56
Net Interest Income	172.5	107.05	87.84	99.73	87.1
Net Interest Income Growth (YoY)	61.15%	21.87%	-11.92%	14.50%	3.88%
Trust Income	28.27	26.17	21.86	20.87	21.05
Mortgage Banking Activities	11.86	10.07	8.41	16.92	48.5
Gain (Loss) on Sale of Investments	-68.4	-	-24.64	-	0.13
Other Non-Interest Income	75.31	76.71	73.33	72	76.31
Total Non-Interest Income	51.88	114.93	80.23	111.22	147.39
Non-Interest Income Growth (YoY)	-54.86%	43.25%	-27.87%	-24.54%	-1.33%
Revenues Before Loan Losses	224.38	221.98	168.07	210.95	234.49
Provision for Loan Losses	0.56	18.14	2.06	-	-3.5
Revenue	223.82	203.83	166.01	210.95	237.99
Revenue Growth (YoY)	9.80%	22.78%	-21.30%	-11.36%	7.05%
Salaries and Employee Benefits	97.46	83.21	73.06	76.82	88.28
Occupancy Expenses	11.97	4.41	4.24	4.69	5.32
Amortization of Goodwill & Intangibles	10.51	6.78	5.3	4.75	4.38
Selling, General & Administrative	43.52	45.54	40.28	39.04	40.7
Other Non-Interest Expense	37.77	30.77	27.29	30.93	30.23
Total Non-Interest Expense	201.23	170.7	150.16	156.23	168.91
EBT Excluding Unusual Items	22.59	33.13	15.85	54.72	69.08
Pretax Income	22.59	23.16	15.85	52.18	69.08
Income Tax Expense	5.15	5.38	4.16	12.18	16.4
Net Income	17.44	17.78	11.7	40.01	52.68
Preferred Dividends & Other Adjustments	-0.03	0.04	-0.01	0.42	0.8
Net Income to Common	17.47	17.74	11.7	39.59	51.88
Net Income Growth	-1.92%	52.02%	-70.76%	-24.06%	17.92%
Basic Shares Outstanding	25	21	20	19	17
Diluted Shares Outstanding	26	21	20	19	17
Shares Change (YoY)	20.52%	5.85%	6.67%	7.99%	0.27%
EPS (Basic)	0.69	0.84	0.59	2.12	3.02
EPS (Diluted)	0.68	0.83	0.58	2.10	2.97
EPS Growth	-18.07%	43.10%	-72.38%	-29.29%	17.86%
Dividend Per Share	0.830	0.790	0.750	0.700	0.630
Dividend Growth	5.06%	5.33%	7.14%	11.11%	5.00%
Effective Tax Rate	22.81%	23.23%	26.23%	23.34%	23.74%

Source: S&P Global Market Intelligence. Banks template. Financial Sources.