| Income Statement | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-09-30 |
|---|---|---|---|---|
| Loans, including fees | 63,875 | 63,853 | 61,495 | 42,593 |
| Taxable | 5,091 | 5,310 | 5,707 | 4,596 |
| Exempt from federal income taxes | 160 | 160 | 160 | 169 |
| Other | 1,518 | 1,101 | 819 | 4,854 |
| Total interest income | 70,644 | 70,424 | 68,181 | 52,212 |
| Deposits | 24,350 | 22,758 | 23,535 | 22,285 |
| Short-term borrowings | 2,506 | 3,982 | 2,839 | 6,706 |
| Long-term debt | 652 | 652 | 650 | 679 |
| Total interest expense | 27,508 | 27,392 | 27,024 | 29,670 |
| Net interest income | 43,136 | 43,032 | 41,157 | 22,542 |
| Provision for credit losses | 0 | 0 | 863 | 1,661 |
| Net interest income after provision for credit losses | 43,136 | 43,032 | 40,294 | 20,881 |
| Revenue from contract with customer, including assessed tax-Deposit Account | - | 680 | - | - |
| Revenue from contract with customer, including assessed tax-Retirement And Benefit Services | 16,496 | 16,024 | - | - |
| Revenue from contract with customer, including assessed tax-Wealth Management | 6,560 | 7,363 | - | - |
| Revenue from contract with customer, including assessed tax-Mortgage Banking | 3,474 | 3,651 | - | - |
| Revenue from contract with customer, including assessed tax-Deposit Account | 703 | - | - | - |
| Revenue from contract with customer, including assessed tax | - | - | 25,189 | 25,401 |
| Gain on sale of non-mortgage loans | -35 | 2,115 | - | - |
| Other | 2,232 | 1,930 | 2,443 | 2,474 |
| Total noninterest income | 29,430 | 31,763 | 27,632 | 28,363 |
| Compensation | 24,984 | 24,343 | 22,961 | 21,058 |
| Employee taxes and benefits | 6,094 | 6,633 | 7,762 | 5,400 |
| Occupancy and equipment expense | 2,849 | 2,559 | 2,907 | 2,082 |
| Business services, software and technology expense | 6,285 | 5,868 | 5,752 | 4,879 |
| Intangible amortization expense | 2,710 | 2,710 | 2,710 | 1,324 |
| Professional fees and assessments | 2,676 | 2,339 | 2,996 | 4,267 |
| Marketing and business development | 1,069 | 787 | 965 | 764 |
| Supplies and postage | 569 | 490 | 630 | 422 |
| Travel | 385 | 347 | 287 | 330 |
| Mortgage and lending expenses | 1,025 | 940 | 536 | 684 |
| Other | 1,895 | 1,422 | 2,859 | 1,237 |
| Total noninterest expense | 50,541 | 48,438 | 50,365 | 42,447 |
| Income before income taxes | 22,025 | 26,357 | 17,561 | 6,797 |
| Income tax expense | 5,101 | 6,104 | 4,246 | 1,590 |
| Net income | 16,924 | 20,253 | 13,315 | 5,207 |
| Average common shares outstanding (in shares) | 25,395,000 | 25,368,000 | 25,359,000 | 19,788,000 |
| Basic earnings per common share (in dollars per share) | 0.66 | 0.79 | 0.52 | 0.26 |
| Diluted average common shares outstanding (in shares) | 25,713,000 | 25,714,000 | 25,653,000 | 20,075,000 |
| Diluted earnings per common share (in dollars per share) | 0.65 | 0.78 | 0.52 | 0.26 |
ALERUS FINANCIAL CORP (ALRS)
ALERUS FINANCIAL CORP (ALRS)