← ALERUS FINANCIAL CORP
| Annual Trend | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Total interest income | $75.6m |
$87.7m
+15.95%
|
$93.3m
+6.38%
|
$96.1m
+3.00%
|
$92.7m
-3.58%
|
$115.6m
+24.74%
|
$164.9m
+42.66%
|
$221.6m
+34.39%
|
$279.6m
+26.20%
|
— | |
| Revenue from Contract with Customer, Including Assessed Tax | — | $75.2m | $74.6m | $83.8m | $87.1m | $106.4m | $96.8m | $102.6m | $108.8m | — | |
| Total noninterest income | $103.0m | $102.7m | $114.2m | $149.4m | $147.4m | $111.2m | $80.2m | $114.9m | $51.9m | — | |
| Net interest income | $67.7m |
$75.2m
+11.16%
|
$74.6m
-0.89%
|
$83.8m
+12.47%
|
$87.1m
+3.88%
|
$99.7m
+14.50%
|
$87.8m
-11.92%
|
$107.0m
+21.87%
|
$172.5m
+61.15%
|
$180.9m
+4.89%
|
|
| Total noninterest expense | $134.9m | $136.3m | $142.5m | $163.8m | $168.9m | $158.8m | $150.2m | $180.7m | $201.2m | — | |
| Total interest expense | $8.0m | $12.5m | $18.7m | $12.3m | $5.6m | $15.8m | $77.0m | $114.5m | $107.1m | — | |
| Net interest income after provision for credit losses | $64.4m |
$66.6m
+3.45%
|
$67.2m
+0.94%
|
$72.9m
+8.49%
|
$90.6m
+24.20%
|
$99.7m
+10.08%
|
$85.8m
-13.98%
|
$88.9m
+3.64%
|
$171.9m
+93.40%
|
$180.9m
+5.23%
|
|
| Gain on sale of non-mortgage loans | — | — | — | — | — | — | $0 | $0 | $2.1m | — | |
| Income before income taxes | $32.5m | $33.0m | $38.9m | $58.5m | $69.1m | $52.2m | $15.9m | $23.2m | $22.6m | $36.2m | |
| Exempt from federal income taxes | $1.4m | $1.2m | $798k | $949k | $925k | $848k | $740k | $679k | $640k | — | |
| Income Tax Expense (Benefit) | $17.5m | $7.2m | $9.4m | $13.8m | $16.4m | $12.2m | $4.2m | $5.4m | $5.2m | $8.5m | |
| Net income | $15.0m |
$25.9m
+72.43%
|
$29.5m
+14.20%
|
$44.7m
+51.24%
|
$52.7m
+17.92%
|
$40.0m
-24.06%
|
$11.7m
-70.76%
|
$17.8m
+52.02%
|
$17.4m
-1.92%
|
$27.6m
+58.47%
|
|
| Basic earnings per common share (in dollars per share) | $1.10 | $1.88 | $1.96 | $2.57 | $3.02 | $2.12 | $0.59 | $0.84 | $0.69 | — | |
| Diluted earnings per common share (in dollars per share) | $1.07 | $1.84 | $1.91 | $2.52 | $2.97 | $2.10 | $0.58 | $0.83 | $0.68 | — | |
| Dividends declared per common share (in dollars per share) | $0.48 | $0.53 | $0.57 | $0.60 | $0.63 | $0.70 | $0.75 | $0.79 | $0.83 | — | |
| Average common shares outstanding (in shares) | 13.7m | 13.8m | 14.7m | 17.1m | 17.2m | 18.6m | 19.9m | 21.0m | 25.4m | — | |
| Diluted average common shares outstanding (in shares) | 14.0m | 14.1m | 15.1m | 17.4m | 17.5m | 18.9m | 20.1m | 21.3m | 25.7m | — | |
| Loans, including fees | $68.8m | $81.2m | $85.8m | $86.4m | $78.1m | $89.9m | $136.9m | $183.6m | $253.7m | — | |
| Taxable | $4.8m | $4.7m | $5.6m | $7.8m | $13.0m | $23.3m | $24.3m | $19.7m | $20.7m | — | |
| Other | $5.6m | $3.6m | $3.3m | $5.0m | $3.9m | $6.9m | $5.3m | $5.6m | $7.8m | — | |
| Deposits | $3.5m | $7.0m | $13.3m | $8.8m | $3.7m | $9.2m | $53.4m | $89.2m | $92.6m | — | |
| Short-term borrowings | $942k | $1.9m | $1.8m | $83.8m | $87.1m | $4.3m | $21.0m | $22.6m | $11.9m | — | |
| Long-term debt | $3.5m | $3.6m | $3.6m | $3.4m | $1.9m | $2.3m | $2.7m | $2.7m | $2.6m | — | |
| Provision for credit losses | — | $75.2m | $2 | $3 | ($3.5m) | $0 | $2.1m | $18.1m | $556k | — | |
| Net gains (losses) on investment securities | ($13k) | $85k | $357k | $2.7m | $125k | $0 | ($24.6m) | $0 | ($68.4m) | — | |
| Compensation | $67.6m | $69.4m | $74.0m | $89.2m | $93.4m | $80.7m | $76.3m | $87.3m | $97.5m | — | |
| Employee taxes and benefits | $16.5m | $17.9m | $19.5m | $20.1m | $22.0m | $21.9m | $20.1m | $23.0m | $26.8m | — | |
| Occupancy and equipment expense | $10.9m | $11.1m | $10.8m | $11.1m | $8.1m | $7.6m | $7.5m | $7.8m | $12.0m | $13.4m | |
| Business services, software and technology expense | $13.0m | $14.5m | $16.4m | $19.1m | $20.5m | $19.5m | $21.1m | $21.8m | $24.7m | — | |
| Intangible amortization expense | $5.6m | $4.6m | $4.1m | $4.0m | $4.4m | $4.8m | $5.3m | $6.8m | $10.5m | — | |
| Professional fees and assessments | $6.2m | $5.1m | $4.0m | $4.7m | $6.3m | $8.4m | $6.7m | $19.6m | $11.1m | — | |
| Marketing and business development | $3.3m | $3.5m | $3.2m | $3.1m | $3.2m | $3.3m | $3.0m | $3.2m | $3.8m | — | |
| Supplies and postage | $2.6m | $2.7m | $2.7m | $2.2m | $2.4m | $2.4m | $1.8m | $2.0m | $2.5m | — | |
| Travel | $1.5m | $1.7m | $1.8m | $359k | $442k | $1.2m | $1.2m | $1.4m | $1.4m | — | |
| Mortgage and lending expenses | $2.2m | $2.2m | $2.9m | $5.0m | $4.2m | $2.2m | $1.9m | $2.2m | $3.1m | — |