Logo

ALRS

Alerus Financial Corporation

ALRS

Alerus Financial Corporation • NASDAQ
$21.54 ▼ -0.92% (-0.20)
Market Cap $547.06 M
52w High $24.33
52w Low $15.78
Dividend Yield 0.82%
P/E 11.4
Volume 32.46K
Outstanding Shares 25.40M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $99.049M ▼ $49.516M ▲ $16.924M ▼ 17.086% ▼ $0.66 ▼ $27.193M ▼
Q2-2025 $101.247M ▲ $47.498M ▼ $20.252M ▲ 20.003% ▲ $0.79 ▲ $30.13M ▲
Q1-2025 $95.277M ▼ $49.829M ▼ $13.315M ▲ 13.975% ▲ $0.52 ▲ $21.379M ▲
Q4-2024 $96.67M ▲ $55.946M ▲ $-66K ▼ -0.068% ▼ $-0.045 ▼ $8.073M ▼
Q3-2024 $79.891M $41.763M $5.183M 6.488% $0.26 $9.031M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $92.043M ▼ $5.331B ▲ $4.78B ▼ $550.688M ▲
Q2-2025 $622.056M ▼ $5.324B ▼ $4.791B ▼ $533.155M ▲
Q1-2025 $650.707M ▲ $5.34B ▲ $4.825B ▲ $514.232M ▲
Q4-2024 $649.292M ▲ $5.262B ▲ $4.766B ▲ $495.41M ▲
Q3-2024 $531.978M $4.085B $3.698B $386.486M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $16.924M ▼ $32.781M ▲ $23.453M ▼ $-45.095M ▼ $11.139M ▲ $37.966M ▲
Q2-2025 $20.252M ▲ $10.694M ▲ $25.838M ▲ $-38.607M ▼ $-2.075M ▼ $7.563M ▲
Q1-2025 $13.315M ▲ $7.715M ▼ $-48.696M ▲ $62.721M ▼ $21.74M ▲ $5.661M ▲
Q4-2024 $-66K ▼ $9.519M ▼ $-99.918M ▲ $85.663M ▲ $-4.736M ▲ $4.48M ▼
Q3-2024 $5.206M $18.939M $-101.741M $-289.364M $-372.166M $16.174M

Revenue by Products

Product Q3-2024Q4-2024Q1-2025Q3-2025
Deposit Account
Deposit Account
 $0 ▲$0 ▲$0 ▲$0 ▲
Mortgage Banking
Mortgage Banking
 $0 ▲$0 ▲$0 ▲$0 ▲
Retirement and Benefit Services
Retirement and Benefit Services
 $20.00M ▲$50.00M ▲$20.00M ▼$20.00M ▲
Wealth Management
Wealth Management
 $10.00M ▲$20.00M ▲$10.00M ▼$10.00M ▲

Five-Year Company Overview

Income Statement

Income Statement Revenue has been fairly steady over the last several years, with a clear step-up more recently, which suggests the core franchise is still able to grow. However, profitability has been under pressure: margins and earnings were stronger a few years ago and then compressed, with only a partial recovery in the most recent year. The bank has remained consistently profitable, but earnings per share are notably lower than their earlier peak, pointing to a more challenging environment for spreads, fees, or credit costs. Overall, the income statement shows a solid but not spectacular earnings profile, with recent signs of improvement but still some way to go to match past profitability levels.

Balance Sheet

Balance Sheet The balance sheet has expanded steadily, with total assets growing meaningfully over the five-year period. Capital has also grown, which is a positive sign for resilience and regulatory strength. Debt levels rose as the bank scaled, but they do not appear excessive relative to the size of the balance sheet and growing equity base. The cash position has moved around, and is currently on the leaner side, which is common for regional banks but means funding and liquidity management remain important areas to watch. In summary, the balance sheet reflects a growing institution with improving capital, moderate leverage, and the usual funding sensitivities of a regional bank.

Cash Flow

Cash Flow Cash generation from operations has generally been positive after a weak year early in the period, with especially strong cash inflows during the middle years and more modest, but still positive, levels lately. Free cash flow has closely tracked operating cash flow, as the business requires limited spending on physical assets, typical for a financial institution. This pattern suggests the bank can usually fund its needs and strategic investments from internal cash generation, though cash flows can fluctuate with interest rate cycles and balance sheet repositioning. Overall, cash flow quality looks reasonable, if somewhat cyclical.

Competitive Edge

Competitive Edge Alerus positions itself as more than a traditional community bank by combining banking, wealth management, and retirement and benefits services into a single, integrated model. This diversification gives it a higher share of fee-based income than many peers, which can smooth results when lending margins are under pressure. The franchise has a very strong local foothold in its home market, while also reaching nationally through its retirement services platform. That said, it still competes against much larger regional and national banks, as well as specialized retirement providers and fintech firms. Its edge lies in deep, multi-product client relationships and low-cost deposits sourced from its wealth and retirement businesses, but scale and competitive intensity remain ongoing challenges.

Innovation and R&D

Innovation and R&D Innovation is focused on digital platforms and integrated client experiences rather than cutting-edge fintech experiments. The "My Alerus" financial wellness hub, upgraded online and mobile banking, and the new wealth management system are designed to give clients a unified view of their finances and a smoother digital journey. On the product side, customized retirement plans, fiduciary plan administration, managed account programs, and financial education tools add value for both employers and individuals. These efforts point to a strategy of steady, client-centric improvement—using technology to deepen relationships and simplify complex financial needs—rather than trying to disrupt the industry outright.

Summary

Taken together, Alerus shows the profile of a growing regional financial institution that has diversified beyond traditional banking into wealth and retirement services. Financially, revenues are improving again, but profitability is still below earlier highs, highlighting ongoing margin and cost pressures. The balance sheet and capital base have strengthened over time, and cash generation is generally solid, though naturally tied to interest rate and economic cycles. Strategically, the integrated "One Alerus" model, strong local market share, and national retirement capabilities form a meaningful competitive foundation, supported by a steady stream of digital and product enhancements. The key questions going forward are how effectively the bank can translate these structural and digital advantages into a sustained recovery in earnings quality while managing credit, funding, and competitive risks typical of regional banks.

NEWS

October 30, 2025 · 5:07 PM UTC

Alerus Financial Corporation Reports Third Quarter 2025 Net Income of $16.9 Million

Read more

October 1, 2025 · 4:30 PM UTC

Alerus Financial Corporation to Announce Third Quarter Financial Results on Thursday, October 30

Read more