Quarterly ResultApr 29, 2026, 04:32 PM
ALRS Q1 Net Income $23.0M; EPS $0.89; Nonperforming Assets -22.1%
AI Summary
Alerus Financial Corporation reported a net income of $23.0 million, or $0.89 per diluted common share, for Q1 2026, a significant turnaround from a net loss of $33.1 million in Q4 2025. The company achieved a return on average assets of 1.79% and a return on average tangible common equity exceeding 21%. This performance was driven by disciplined balance-sheet management, expanding margins, and improving credit performance, with nonperforming assets decreasing by 22.1%. ALRS also repurchased $6.0 million of its common stock.
Key Highlights
- Net income for Q1 2026 was $23.0 million, reversing a $33.1 million net loss in Q4 2025.
- Diluted EPS for Q1 2026 was $0.89, up from $(1.27) in Q4 2025.
- Return on average total assets was 1.79%; return on average tangible common equity was 21.85%.
- Total deposits increased by $155.9 million (3.7%) to $4.3 billion as of March 31, 2026.
- Nonperforming assets decreased by $15.4 million (22.1%) to $54.0 million.
- Repurchased $6.0 million of common stock, reducing shares by 250,000.
- Net interest margin (tax-equivalent) increased to 3.77% from 3.69% in Q4 2025.