Alerus Financial Corporation (ALRS)

Alerus Financial Income Statement

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

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Jun 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Interest Income on Loans	227.95	183.56	136.92	89.91	78.13	86.43
Interest Income on Investments	30.17	38.02	27.97	25.67	14.52	9.68
Total Interest Income	258.12	221.58	164.88	115.58	92.66	96.1
Interest Paid on Deposits	94.1	89.24	53.39	9.17	3.66	8.84
Interest Paid on Borrowings	19.01	25.29	23.66	6.68	1.9	3.41
Total Interest Expense	113.11	114.53	77.04	15.85	5.56	12.26
Net Interest Income	145.01	107.05	87.84	99.73	87.1	83.85
Net Interest Income Growth (YoY)	64.48%	21.87%	-11.92%	14.50%	3.88%	12.47%
Trust Income	27.96	26.17	21.86	20.87	21.05	17.45
Mortgage Banking Activities	11.03	10.07	8.41	16.92	48.5	61.64
Gain (Loss) on Sale of Assets	-	-	-	-	-	-0.71
Gain (Loss) on Sale of Investments	2.12	-	-24.64	-	0.13	2.74
Other Non-Interest Income	78.07	76.71	73.33	72	76.31	66.84
Total Non-Interest Income	121.63	114.93	80.23	111.22	147.39	149.37
Non-Interest Income Growth (YoY)	48.53%	43.25%	-27.87%	-24.54%	-1.33%	30.80%
Revenues Before Loan Losses	266.65	221.98	168.07	210.95	234.49	233.22
Provision for Loan Losses	14.52	18.14	2.06	-	-3.5	10.9
Revenue	252.13	203.83	166.01	210.95	237.99	222.32
Revenue Growth (YoY)	53.68%	22.78%	-21.30%	-11.36%	7.05%	22.53%
Salaries and Employee Benefits	90.39	83.21	73.06	76.82	88.28	87.28
Occupancy Expenses	5.93	4.41	4.24	4.69	5.32	10.06
Amortization of Goodwill & Intangibles	9.55	6.78	5.3	4.75	4.38	3.96
Selling, General & Administrative	49.48	45.54	40.28	39.04	40.7	31.56
Other Non-Interest Expense	36.39	30.77	27.29	30.93	30.23	30.94
Total Non-Interest Expense	191.74	170.7	150.16	156.23	168.91	163.8
EBT Excluding Unusual Items	60.4	33.13	15.85	54.72	69.08	58.52
Pretax Income	50.42	23.16	15.85	52.18	69.08	58.52
Income Tax Expense	11.71	5.38	4.16	12.18	16.4	13.84
Net Income	38.71	17.78	11.7	40.01	52.68	44.68
Preferred Dividends & Other Adjustments	0.26	0.04	-0.01	0.42	0.8	0.77
Net Income to Common	38.45	17.74	11.7	39.59	51.88	43.91
Net Income Growth	449.35%	52.02%	-70.76%	-24.06%	17.92%	51.24%
Basic Shares Outstanding	24	21	20	19	17	17
Diluted Shares Outstanding	24	21	20	19	17	17
Shares Change (YoY)	20.58%	5.85%	6.67%	7.99%	0.27%	15.54%
EPS (Basic)	1.61	0.84	0.59	2.12	3.02	2.57
EPS (Diluted)	1.59	0.83	0.58	2.10	2.97	2.52
EPS Growth	350.15%	43.10%	-72.38%	-29.29%	17.86%	31.94%
Dividend Per Share	0.810	0.790	0.750	0.700	0.630	0.600
Dividend Growth	5.20%	5.33%	7.14%	11.11%	5.00%	5.26%
Effective Tax Rate	23.23%	23.23%	26.23%	23.34%	23.74%	23.66%

Updated Jul 28, 2025. Source: S&P Global Market Intelligence. Banks template. Financial Sources.

SEC Filings: 10-K · 10-Q