ALERUS FINANCIAL CORP

Alerus Financial Corporation announced that its Board of Directors declared a regular quarterly cash dividend of $0.22 per common share. This dividend marks a 4.76% increase compared to the dividend paid a year ago. The payment is scheduled for July 10, 2026, to stockholders of record as of June 26, 2026.

Alerus Financial Corporation announced its board of directors declared a regular quarterly cash dividend of $0.22 per common share. This represents a 4.76% increase over the dividend paid a year ago. The dividend is payable on July 10, 2026, to stockholders of record as of June 26, 2026.

Alerus Financial Corporation announced the sale of three non-performing loans, which had a total net book balance of $33.6 million as of March 31, 2026. This relationship constituted the largest non-performing exposure in the portfolio, representing over 62% of total nonperforming loans and assets. The transaction, completed without any charge-offs and with $1.6 million in nonaccrual interest recognized, significantly improved the company's credit quality metrics, reducing nonperforming assets to total loans from 1.34% to a pro forma 0.51%.

Alerus Financial Corporation held its 2026 Annual Meeting of Stockholders on May 14, 2026, with 80.81% of outstanding shares represented, constituting a quorum. Stockholders elected all nine director nominees to the Board of Directors. Additionally, the 2025 compensation for named executive officers was approved on a non-binding advisory basis, and RSM US LLP was ratified as the independent registered public accounting firm for the year ending December 31, 2026.

Alerus Financial Corporation reported net income of $23.0 million, or $0.89 per diluted common share, for Q1 2026, a significant improvement from a net loss of $33.1 million in Q4 2025 and an increase from $13.3 million in Q1 2025. The company highlighted strong execution of its long-term strategy, leading to improved profitability, expanding margins, and better credit performance. Key metrics like return on average assets and tangible common equity showed strong growth, alongside increased deposits and a reduction in nonperforming assets.

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.