Alerus Financial Corp (ALRS) Financial Statements
Industry: National Commercial Banks
In fiscal 2025, Alerus Financial reported revenue of $224.4M, up 1.1% from $222.0M the year before. Net income was $17.4M (a 7.8% net margin), or $0.68 per diluted share. Net interest income was $172.5M, and the efficiency ratio (noninterest expense / revenue) was 89.7%. Operating activities generated $67.5M of cash, leaving $58.8M of free cash flow. At fiscal year end, Alerus Financial held $5.23B in total assets against $4.67B in total liabilities, including $67.2M of cash and equivalents.
Open the full interactive Alerus Financial financials → Quarterly statements, key ratios, valuation history and price charts.
Alerus Financial Key Stats
| Share Price | $30.99 |
|---|---|
| Market Cap | $787.0M |
| P/E Ratio | 45.6 |
| Dividend Yield | 2.68% |
| Revenue YoY Growth | +1.1% |
| 52-Week Range | $20.23 – $33.89 |
| Shares Outstanding | 25.1 million (basic, 2026 Q2) |
Alerus Financial Income Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Net Interest Income | $83.8M | $87.1M | $99.7M | $87.8M | $107.0M | $172.5M |
| Provision for Credit Losses | $10.9M | -$3.5M | $0 | $2.1M | $18.1M | $556,000 |
| Noninterest Income | $149.4M | $147.4M | $111.2M | $80.2M | $114.9M | $51.9M |
| Noninterest Expense | $163.8M | $168.9M | $158.8M | $150.2M | $180.7M | $201.2M |
| Revenue | $233.2M | $234.5M | $211.0M | $168.1M | $222.0M | $224.4M |
| Pre-Tax Income | $58.5M | $69.1M | $52.2M | $15.9M | $23.2M | $22.6M |
| Income Tax | $13.8M | $16.4M | $12.2M | $4.2M | $5.4M | $5.2M |
| Net Income | $44.7M | $52.7M | $40.0M | $11.7M | $17.8M | $17.4M |
| Diluted EPS | $2.52 | $2.97 | $2.10 | $0.58 | $0.83 | $0.68 |
Alerus Financial Quarterly Results
| 2025 Q3 | 2025 Q4 | 2026 Q1 | 2026 Q2 | |
|---|---|---|---|---|
| Revenue | $72.6M | $8.2M | $75.8M | $80.7M |
| Net Income | $16.9M | -$33.1M | $23.0M | $20.9M |
| Diluted EPS | $0.65 | -$1.29 | $0.89 | $0.81 |
Alerus Financial Balance Sheet
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $173.0M | $242.3M | $58.2M | $129.9M | $61.2M | $67.2M |
| Loans (Net) | $1.95B | $1.73B | $2.41B | $2.72B | $3.93B | $3.99B |
| Total Assets | $3.01B | $3.39B | $3.78B | $3.91B | $5.26B | $5.23B |
| Deposits | $2.57B | $2.92B | $2.92B | $3.10B | $4.38B | $4.19B |
| Total Long-Term Debt | $58.7M | $58.9M | $58.8M | $59.0M | $59.1M | $59.2M |
| Total Liabilities | $2.68B | $3.03B | $3.42B | $3.54B | $4.77B | $4.67B |
| Shareholders' Equity | $330.2M | $359.4M | $356.9M | $369.1M | $495.4M | $564.9M |
Alerus Financial Cash Flow Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash From Operations | -$22.3M | $149.1M | $103.0M | $29.0M | $29.0M | $67.5M |
| Cash From Investing | -$538.4M | -$416.9M | -$292.6M | -$52.1M | -$330.0M | $76.5M |
| Cash From Financing | $589.6M | $337.2M | $5.6M | $94.8M | $232.4M | -$138.1M |
| Free Cash Flow | -$26.1M | $147.4M | $101.2M | $25.8M | $16.6M | $58.8M |
| Dividends Paid | $10.4M | $10.8M | $12.8M | $14.8M | $15.4M | $20.8M |
Figures from Alerus Financial's 10-K and 10-Q filings with the SEC, as of 2026-10-14. Fiscal years follow the company's own reporting calendar. EPS and share counts are adjusted for later stock splits. See the full Alerus Financial financials page for every line item.
Alerus Financial Company Profile
| Ticker | ALRS |
|---|---|
| Exchange | Nasdaq |
| Industry | National Commercial Banks |
| Headquarters | Grand Forks, North Dakota |
| Incorporated in | Delaware |
| Fiscal Year End | December 31 |
| SEC Filer Category | Accelerated filer |
| SEC CIK | 0000903419 |
Frequently Asked Questions
What was Alerus Financial's revenue in fiscal 2025?
Alerus Financial (ALRS) reported revenue of $224.4M for fiscal 2025.
What is Alerus Financial's annual revenue history?
Alerus Financial's annual revenue by fiscal year: 2020: $233.2M; 2021: $234.5M; 2022: $211.0M; 2023: $168.1M; 2024: $222.0M; 2025: $224.4M.
What was Alerus Financial's net income in fiscal 2025?
Alerus Financial reported net income of $17.4M for fiscal 2025.
What was Alerus Financial's earnings per share (EPS) in fiscal 2025?
Alerus Financial's diluted EPS was $0.68 for fiscal 2025 (adjusted for any later stock splits).
How much free cash flow did Alerus Financial generate in fiscal 2025?
Alerus Financial generated $58.8M of free cash flow in fiscal 2025.
What was Alerus Financial's revenue last quarter?
In its most recent reported quarter (2026 Q2), Alerus Financial reported revenue of $80.7M.
How much debt does Alerus Financial have?
Alerus Financial reported $59.2M of long-term debt, including the current portion, at the end of fiscal 2025.
How many shares of Alerus Financial are outstanding?
Alerus Financial reported a weighted average of 25.1 million basic shares outstanding in 2026 Q2.
What is Alerus Financial's market cap?
Based on its latest closing price, Alerus Financial (ALRS) has a market capitalization of about $787.0M.
When does Alerus Financial's fiscal year end?
Alerus Financial's fiscal year end, as registered with the SEC, is December 31.
Where is Alerus Financial headquartered?
Alerus Financial lists its business address in Grand Forks, North Dakota in its SEC filings.