Alerus Financial Corporation (ALRS)

Alerus Financial Income Statement

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

Fiscal Year	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Interest Income on Loans	183.56	136.92	89.91	78.13	86.43
Interest Income on Investments	38.02	27.97	25.67	14.52	9.68
Total Interest Income	221.58	164.88	115.58	92.66	96.1
Interest Paid on Deposits	89.24	53.39	9.17	3.66	8.84
Interest Paid on Borrowings	25.29	23.66	6.68	1.9	3.41
Total Interest Expense	114.53	77.04	15.85	5.56	12.26
Net Interest Income	107.05	87.84	99.73	87.1	83.85
Net Interest Income Growth (YoY)	21.87%	-11.92%	14.50%	3.88%	12.47%
Trust Income	26.17	21.86	20.87	21.05	17.45
Mortgage Banking Activities	10.47	8.41	16.92	48.5	61.64
Gain (Loss) on Sale of Assets	-	-	-	-	-0.71
Gain (Loss) on Sale of Investments	-	-24.64	-	0.13	2.74
Other Non-Interest Income	76.32	73.33	72	76.31	66.84
Total Non-Interest Income	114.93	80.23	111.22	147.39	149.37
Non-Interest Income Growth (YoY)	43.25%	-27.87%	-24.54%	-1.33%	30.80%
Revenues Before Loan Losses	221.98	168.07	210.95	234.49	233.22
Provision for Loan Losses	18.14	2.06	-	-3.5	10.9
Revenue	203.84	166.01	210.95	237.99	222.32
Revenue Growth (YoY)	22.78%	-21.30%	-11.36%	7.05%	22.53%
Salaries and Employee Benefits	87.31	73.06	76.82	88.28	87.28
Occupancy Expenses	7.77	4.24	4.69	5.32	10.06
Amortization of Goodwill & Intangibles	6.78	5.3	4.75	4.38	3.96
Selling, General & Administrative	43.62	40.28	38.98	40.7	31.56
Other Non-Interest Expense	30.77	27.29	31.03	30.23	30.94
Total Non-Interest Expense	176.24	150.16	156.27	168.91	163.8
EBT Excluding Unusual Items	27.59	15.85	54.68	69.08	58.52
Pretax Income	27.59	15.85	52.18	69.08	58.52
Income Tax Expense	6.53	4.16	12.18	16.4	13.84
Net Income	21.07	11.7	40.01	52.68	44.68
Preferred Dividends & Other Adjustments	-	-0.01	0.42	0.8	0.77
Net Income to Common	21.07	11.7	39.59	51.88	43.91
Net Income Growth	80.14%	-70.76%	-24.06%	17.92%	51.24%
Basic Shares Outstanding	21	20	19	17	17
Diluted Shares Outstanding	21	20	19	17	17
Shares Change (YoY)	5.85%	6.67%	7.99%	0.28%	15.54%
EPS (Basic)	1.00	0.59	2.12	3.02	2.57
EPS (Diluted)	0.98	0.58	2.10	2.97	2.52
EPS Growth	68.97%	-72.38%	-29.29%	17.86%	31.94%
Dividend Per Share	0.790	0.750	0.700	0.630	0.600
Dividend Growth	5.33%	7.14%	11.11%	5.00%	5.26%
Effective Tax Rate	23.65%	26.23%	23.34%	23.74%	23.66%

Source: S&P Capital IQ. Banks template. Financial Sources.