Articles from Alerus Financial Corporation

Alerus Financial Corporation (Nasdaq: ALRS), or the Company, reported net income of $3.2 million for the fourth quarter of 2024, or $0.13 per diluted common share, compared to net income of $5.2 million, or $0.26 per diluted common share, for the third quarter of 2024, and net loss of $14.8 million, or ($0.73) per diluted common share, for the fourth quarter of 2023.

Alerus Financial Corporation (Nasdaq: ALRS) announced that it will issue its third quarter financial results on Tuesday, January 28, 2025.

Alerus Financial Corporation (NASDAQALRS) announced that its board of directors declared a regular quarterly cash dividend of $0.20 per common share on December 11, 2024, a 5.26% increase over the dividend paid a year ago. The dividend is payable on January 17, 2025, to stockholders of record as of close of business on December 27, 2024. Current and historic dividend information, as well as quarterly financial statements, investor presentations, and earnings call transcripts are available online through Alerus’ investor relations website at investors.alerus.com.

Alerus Financial Corporation (Nasdaq: ALRS) announced Jon Hendry, Executive Vice President and Chief Technology Officer, will retire at year end. As part of his planned succession, he will transition his responsibilities to Karin Taylor, who will assume the role of Executive Vice President and Chief Operating Officer, effective January 1, 2025. In addition, Joe Birkholz has joined the company as Chief Risk Officer.

Alerus Financial Corporation (Nasdaq: ALRS), or the Company, reported net income of $5.2 million for the third quarter of 2024, or $0.26 per diluted common share, compared to net income of $6.2 million, or $0.31 per diluted common share, for the second quarter of 2024, and net income of $9.2 million, or $0.45 per diluted common share, for the third quarter of 2023.

Alerus Financial Corporation (Nasdaq: ALRS) and its wholly owned subsidiary, Alerus Financial, National Association, (together, “Alerus”) announced today they have completed the previously announced acquisition of HMN Financial, Inc. (Nasdaq: HMNF) and its wholly owned subsidiary, Home Federal Savings Bank (together, “Home Federal”). Under the terms of the transaction, HMN Financial, Inc. merged with and into Alerus Financial Corporation, and Home Federal Savings Bank merged with and into Alerus Financial, National Association. The all-stock transaction is valued at approximately $128.8 million as of closing.

Alerus Financial Corporation (Nasdaq: ALRS) announced that it will issue its third quarter financial results on Tuesday, October 29, 2024.

Alerus Financial Corporation (Nasdaq: ALRS) and its wholly owned subsidiary, Alerus Financial, National Association, (together, “Alerus”) announced today they have received all regulatory approvals necessary to complete the previously announced acquisition of HMN Financial, Inc. (Nasdaq: HMNF) and its wholly owned subsidiary, Home Federal Savings Bank (together, “Home Federal”). The merger was unanimously approved by the board of directors of each company. Stockholders of each company approved the all-stock transaction during special meetings held September 12, 2024. Alerus and Home Federal anticipate the acquisition will close early in the fourth quarter of 2024, subject to customary closing conditions.

Alerus Financial Corporation (NASDAQALRS) announced that its board of directors declared a regular quarterly cash dividend of $0.20 per common share on August 20, 2024, a 5.26% increase over the dividend paid a year ago. The dividend is payable on October 11, 2024, to stockholders of record as of close of business on September 13, 2024. Current and historic dividend information, as well as quarterly financial statements, investor presentations, and earnings call transcripts are available online through Alerus’ investor relations website at investors.alerus.com.

Alerus Financial Corporation (Nasdaq: ALRS), or the Company, reported net income of $6.2 million for the second quarter of 2024, or $0.31 per diluted common share, compared to net income of $6.4 million, or $0.32 per diluted common share, for the first quarter of 2024, and net income of $9.1 million, or $0.45 per diluted common share, for the second quarter of 2023.

Alerus Financial Corporation (Nasdaq: ALRS) announced that it will issue its second quarter financial results on Wednesday, July 24, 2024.

Alerus Financial Corporation (Nasdaq: ALRS) is pleased to announce it is expanding its specialty lending capabilities with the addition of an experienced team focused on providing equipment financing to commercial banking clients throughout the company’s geographic footprint.

Alerus Financial Corporation (NASDAQALRS) announced that its board of directors declared a regular quarterly cash dividend of $0.20 per common share on May 21, 2024, a 5.26% increase over the dividend paid a year ago. The dividend is payable on July 15, 2024, to stockholders of record as of close of business on June 14, 2024. Current and historic dividend information, as well as quarterly financial statements, investor presentations, and earnings call transcripts are available online through Alerus’ investor relations website at investors.alerus.com.

Alerus Financial Corporation (“Alerus”) (Nasdaq: ALRS) and HMN Financial, Inc. (“HMNF”) (Nasdaq: HMNF) jointly announced today the signing of a definitive Agreement and Plan of Merger (the “Merger Agreement”) pursuant to which Alerus will acquire, in an all-stock merger, HMNF, a savings and loan holding company headquartered in Rochester, Minnesota, and the parent company of Home Federal Savings Bank (“Home Federal”). Under the terms of the Merger Agreement, HMNF will merge with and into Alerus (the “Merger”) and Home Federal will merge with and into Alerus’ wholly-owned bank subsidiary, Alerus Financial, National Association, in a transaction valued at approximately $116.4 million.

Alerus Financial Corporation (Nasdaq: ALRS), or the Company, reported net income of $6.4 million for the first quarter of 2024, or $0.32 per diluted common share, compared to a net loss of $14.8 million, or ($0.73) per diluted common share, for the fourth quarter of 2023, and net income of $8.2 million, or $0.40 per diluted common share, for the first quarter of 2023.

Alerus Financial Corporation (NASDAQALRS) announced that it will issue its first quarter financial results on Wednesday, April 24, 2024.

Alerus Financial Corporation (NASDAQALRS) announced that its board of directors declared a regular quarterly cash dividend of $0.19 per common share on February 27, 2024, a 5.56% increase over the dividend paid a year ago. The dividend is payable on April 12, 2024, to stockholders of record as of close of business on March 15, 2024. Current and historic dividend information, as well as quarterly financial statements, investor presentations, and earnings call transcripts are available online through Alerus’ investor relations website at investors.alerus.com.

Alerus Financial Corporation (Nasdaq: ALRS) announced today that Forrest Wilson will join Alerus as Executive Vice President and Chief Retirement Services Officer, effective February 26, 2024.

Alerus Financial Corporation (Nasdaq: ALRS), or the Company, reported net loss of $14.8 million for the fourth quarter of 2023, or ($0.73) per diluted common share, compared to net income of $9.2 million, or $0.45 per diluted common share, for the third quarter of 2023, and net income of $10.9 million, or $0.53 per diluted common share, for the fourth quarter of 2022.

Alerus Financial Corporation (NASDAQALRS) announced that it will issue its fourth quarter and full-year 2023 financial results on Wednesday, January 24, 2024.

On December 15, 2023, Alerus Financial Corporation (NASDAQALRS) completed the sale of $172.3 million of available-for-sale securities (“AFS”). The sale resulted in a one-time pre-tax net loss of $24.7 million. Proceeds from the sale will be reinvested into loans to new and existing clients throughout the communities the Company serves in addition to paying down borrowings. The weighted average yield on the AFS securities sold was 2.66% and the estimated time to earn back this loss is approximately 3.7 years, compared to the estimated weighted average remaining life of the AFS securities sold of 6.1 years. The restructuring has no impact on tangible capital, improves the net interest margin and positions the company for higher earnings in 2024.

Alerus Financial Corporation (NASDAQALRS) announced that its board of directors declared a regular quarterly cash dividend of $0.19 per common share, a 5.56% increase over the dividend paid a year ago. The dividend is payable on January 12, 2024, to shareholders of record as of close of business on December 27, 2023. Current and historic dividend information, as well as quarterly financial statements, investor presentations, and earnings call transcripts are available online through Alerus’ investor relations website at investors.alerus.com.

Alerus Financial Corporation (Nasdaq: ALRS) is pleased to announce the addition of Nikki Sorum and John Uribe to its board of directors.

Alerus Financial Corporation (Nasdaq: ALRS), or the Company, reported net income of $9.2 million for the third quarter of 2023, or $0.45 per diluted common share, compared to net income of $9.1 million, or $0.45 per diluted common share, for the second quarter of 2023, and net income of $9.6 million, or $0.47 per diluted common share, for the third quarter of 2022.

Alerus Financial Corporation (NASDAQALRS) announced that it will issue its third quarter financial results on Wednesday, October 25, 2023.

Alerus Financial Corporation (NASDAQALRS) announced that its board of directors declared a regular quarterly cash dividend of $0.19 per common share, a 5.56% increase over the dividend paid a year ago. The dividend is payable on October 13, 2023 to shareholders of record as of close of business on September 15, 2023. Current and historic dividend information, as well as quarterly financial statements, investor presentations, and earnings call transcripts are available online through Alerus’ investor relations website at investors.alerus.com.

Alerus Financial Corporation (Nasdaq: ALRS), or the Company, reported net income of $9.1 million for the second quarter of 2023, or $0.45 per diluted common share, compared to net income of $8.2 million, or $0.40 per diluted common share, for the first quarter of 2023, and net income of $9.3 million, or $0.52 per diluted common share, for the second quarter of 2022.

Alerus Financial Corporation (NASDAQALRS) announced that it will issue its second quarter financial results on Wednesday, July 26, 2023.

Alerus Financial Corporation (NASDAQALRS) announced that its board of directors declared a regular quarterly cash dividend of $0.19 per common share, a 5.56% increase over the dividend paid a year ago. The dividend is payable on July 14, 2023, to shareholders of record as of close of business on June 15, 2023. Current and historic dividend information, as well as quarterly financial statements, investor presentations, and earnings call transcripts are available online through Alerus’ investor relations website at investors.alerus.com.

Alerus Financial Corporation (Nasdaq: ALRS), or the Company, reported net income of $8.2 million for the first quarter of 2023, or $0.40 per diluted common share, compared to net income of $10.9 million, or $0.53 per diluted common share, for the fourth quarter of 2022, and net income of $10.2 million, or $0.57 per diluted common share, for the first quarter of 2022.

Alerus Financial Corporation (NASDAQALRS) announced that it will issue its first quarter financial results on Wednesday, April 26, 2023.

Alerus Financial Corporation (NASDAQALRS) announced that its board of directors declared a regular quarterly cash dividend of $0.18 per common share, a 12.5% increase over the dividend paid a year ago. The dividend is payable on April 14, 2023, to shareholders of record as of close of business on March 15, 2023. Current and historic dividend information, as well as quarterly financial statements, investor presentations, and earnings call transcripts are available online through Alerus’ investor relations website at investors.alerus.com.

Alerus Financial Corporation (Nasdaq: ALRS) reported net income of $10.9 million for the fourth quarter of 2022, or $0.53 per diluted common share, compared to net income of $9.6 million, or $0.47 per diluted common share, for the third quarter of 2022, and net income of $12.7 million, or $0.72 per diluted common share, for the fourth quarter of 2021.

Alerus is pleased to announce the expansion of its commercial banking team with the addition of three new employees. The industry veterans bring a combined 70 years of financial industry experience to Alerus, with extensive expertise in the commercial banking vertical.

Alerus Financial Corporation (NASDAQALRS) announced that it will issue its fourth quarter and full-year 2022 financial results on Wednesday, January 25, 2023.

Alerus Financial Corporation (NASDAQALRS) announced that its board of directors declared a regular quarterly cash dividend of $0.18 per common share, a 12.5% increase over the dividend paid a year ago. The dividend is payable on January 13, 2023, to shareholders of record as of close of business on December 23, 2022. Current and historic dividend information, as well as quarterly financial statements, investor presentations, and earnings call transcripts are available online through Alerus’ investor relations website at investors.alerus.com.

Alerus Financial Corporation (Nasdaq: ALRS) reported net income of $9.6 million for the third quarter of 2022, or $0.47 per diluted common share, compared to net income of $9.3 million, or $0.52 per diluted common share, for the second quarter of 2022, and net income of $13.1 million, or $0.74 per diluted common share, for the third quarter of 2021. Excluding the acquisition of Metro Phoenix Bank, earnings per diluted common share were $0.54 for the third quarter of 2022.

Alerus Financial Corporation (NASDAQALRS) announced that it will issue its third quarter 2022 financial results on Wednesday, October 26, 2022.

Alerus Financial Corporation (NASDAQALRS) announced that its board of directors declared a regular quarterly cash dividend of $0.18 per common share, a 12.5% increase over the dividend paid a year ago. The dividend is payable on October 14, 2022, to shareholders of record as of close of business on September 30, 2022. Current and historic dividend information, as well as quarterly financial statements, investor presentations, and earnings call transcripts are available online through Alerus’ investor relations website at investors.alerus.com.

Alerus Financial Corporation (Nasdaq: ALRS) reported net income of $9.3 million for the second quarter of 2022, or $0.52 per diluted common share, compared to net income of $10.2 million, or $0.57 per diluted common share, for the first quarter of 2022, and net income of $11.7 million, or $0.66 per diluted common share, for the second quarter of 2021.

Alerus Financial Corporation (Nasdaq: ALRS) (the “Company”) announced a number of changes to its executive leadership team as part of its ongoing management succession plan. Chief Shared Services Officer Ann McConn will retire on January 6, 2023. She will transition her responsibilities to Missy Keney as Chief Engagement Officer and Executive Vice President, and Jon Hendry as Chief Technology Officer and Executive Vice President.

Alerus Financial Corporation (“Alerus”) (NASDAQALRS) announced today it has completed the previously announced acquisition of MPB BHC, Inc. (OTCPink: MPHX), the bank holding company for Metro Phoenix Bank. Founded in 2007, Metro Phoenix Bank is the largest full-service community bank headquartered in Phoenix, with approximately $453 million in total assets, $280 million in total loans, and $402 million in total deposits as of March 31, 2022. Metro Phoenix Bank operates one branch in Phoenix, serving small- and medium-sized businesses throughout the metro area.

Alerus Financial Corporation (NASDAQALRS) announced that it will issue its second quarter 2022 financial results on Wednesday, July 27, 2022.

Alerus Financial Corporation (Nasdaq: ALRS) (the “Company”) announced today that industry veteran Jim Collins will join the Company as Executive Vice President and Chief Banking and Revenue Officer, effective May 31, 2022.

Alerus Financial Corporation (Nasdaq: ALRS) (the “Company”) announced that, effective May 10, 2022, Dan Coughlin was appointed by the Board of Directors to serve as Chairman of the Board.

Alerus Financial Corporation (NASDAQALRS) announced that its board of directors declared a regular quarterly cash dividend of $0.18 per common share, a 12.5 percent increase over the dividend paid a year ago. The dividend is payable on July 8, 2022, to shareholders of record as of close of business on June 17, 2022. Current and historic dividend information, as well as quarterly financial statements, investor presentations, and earnings call transcripts are available online through Alerus’ investor relations website at investors.alerus.com.

Alerus Financial Corporation (Nasdaq: ALRS) reported net income of $10.2 million for the first quarter of 2022, or $0.57 per diluted common share, compared to net income of $12.7 million, or $0.72 per diluted common share, for the fourth quarter of 2021, and net income of $15.2 million, or $0.86 per diluted common share, for the first quarter of 2021.

Alerus Financial Corporation (NASDAQALRS) announced that it will issue its first quarter 2022 financial results on Wednesday, April 27, 2022.

Alerus Financial Corporation (Nasdaq: ALRS) (the “Company”) announced today that Alan “Al” Villalon has been named Chief Financial Officer and Executive Vice President of the Company. Mr. Villalon replaces Katie Lorenson, who transitioned to President and Chief Executive Officer effective January 1, 2022. Additionally, Jerrod Hanson has been named Chief Accounting Officer and Senior Vice President.

Alerus Financial Corporation (Nasdaq: ALRS) reported net income of $12.7 million for the fourth quarter of 2021, or $0.72 per diluted common share, compared to net income of $13.1 million, or $0.74 per diluted common share, for the third quarter of 2021, and net income of $10.2 million, or $0.57 per diluted common share, for the fourth quarter of 2020.

Alerus Financial Corporation (NASDAQALRS) announced that its board of directors declared a regular quarterly cash dividend of $0.16 per common share, a 6.7% increase over the dividend paid a year ago. The dividend is payable on April 8, 2022, to shareholders of record as of close of business on March 18, 2022. Current and historic dividend information, as well as quarterly financial statements, investor presentations, and earnings call transcripts are available online through Alerus’ investor relations website at investors.alerus.com.

Alerus Financial Corporation (NASDAQALRS) announced that it will issue its fourth quarter and full-year 2021 financial results after market close on Wednesday, January 26, 2022.

Alerus Financial Corporation (“Alerus”) (NASDAQALRS) announced today the signing of a definitive agreement and plan of merger to acquire MPB BHC, Inc. (“MPHX”) (OTCPK: MPHX), the bank holding company for Metro Phoenix Bank, the largest full-service community bank headquartered in Phoenix. The transaction represents the twenty-fifth acquisition for Alerus since 2000 as part of its long-term plan to continually expand its four business segments—banking, retirement and benefits services, wealth management, and mortgage. Alerus has been operating in the Phoenix market since 2009.

Alerus Financial Corporation (NASDAQALRS) announced that its board of directors declared a regular quarterly cash dividend of $0.16 per common share, a 6.7 percent increase over the dividend paid a year ago. The dividend is payable on January 14, 2022, to stockholders of record as of close of business on December 24, 2021. Current and historic dividend information, as well as quarterly financial statements, investor presentations, and earnings call transcripts are available online through Alerus’ investor relations website at investors.alerus.com.

Alerus Financial Corporation (Nasdaq: ALRS) reported net income of $13.1 million for the third quarter of 2021, or $0.74 per diluted common share, compared to net income of $11.7 million, or $0.66 per diluted common share, for the second quarter of 2021, and net income of $17.7 million, or $0.99 per diluted common share, for the third quarter of 2020.

Alerus Financial Corporation (NASDAQALRS) (the “Company”) is honored to announce the addition of Janet O. Estep, Jill E. Schurtz, and Mary E. Zimmer to its board of directors. Ms. Estep is an experienced executive with extensive knowledge of digital technology, electronic payments, strategic planning, mergers and acquisitions, product development, and sales, marketing, and risk management. Ms. Schurtz is the current CEO and Chief Investment Officer of the St. Paul Teachers’ Retirement Fund Association and brings expertise in investment and portfolio management, retirement administration, investment banking, mergers and acquisitions, and sales and marketing management. Ms. Zimmer is a highly accomplished financial industry executive with extensive knowledge of wealth management, capital markets, strategic planning, client segmentation, and product development.

Alerus Financial Corporation (NASDAQALRS) announced that it will issue its third quarter 2021 financial results on Wednesday, October 27, 2021.

Alerus Financial Corporation (Nasdaq: ALRS) (the “Company”) announced today that its Board of Directors appointed Katie A. Lorenson, the Company’s current Executive Vice President and Chief Financial Officer, as the Company’s next President and Chief Executive Officer, effective January 1, 2022. Ms. Lorenson will also join the Company’s Board of Directors upon assuming her new role. Randy L. Newman will transition to the role of Executive Chairman of the Board to ensure a seamless leadership transfer.

Alerus is pleased to announce Bank Director magazine has named it the #9 overall performing bank out of the 300 largest publicly traded U.S. banks.

Alerus Financial Corporation (Nasdaq: ALRS) reported net income of $11.7 million for the second quarter of 2021, or $0.66 per diluted common share, compared to net income of $15.2 million, or $0.86 per diluted common share, for the first quarter of 2021, and net income of $11.5 million, or $0.65 per diluted common share, for the second quarter of 2020.

Alerus Financial Corporation (NASDAQALRS) announced that its board of directors declared a regular quarterly cash dividend of $0.16 per common share, a 6.7 percent increase over the dividend paid a year ago. The dividend is payable on October 8, 2021, to shareholders of record as of close of business on September 17, 2021. Current and historic dividend information, as well as quarterly financial statements, investor presentations, and earnings call transcripts are available online through Alerus’ investor relations website at investors.alerus.com.

Alerus Financial Corporation (NASDAQALRS) announced that it will issue its second quarter 2021 financial results after market close on Wednesday, July 28, 2021.

Alerus Financial Corporation (NASDAQALRS) is pleased to announce it is strengthening its U.S. Small Business Administration lending capabilities with the addition of an expert SBA team. Led by industry veteran John Kimball, who most recently served as SBA lending manager at MidWestOne Bank, the five-person team collectively has more than 100 years of business banking and small business lending experience at community and regional banks.

Alerus Financial Corporation (NASDAQALRS) announced that its board of directors declared a regular quarterly cash dividend of $0.16 per common share, a 6.7 percent increase over the dividend paid a year ago. The dividend is payable on July 9, 2021, to shareholders of record as of close of business on June 18, 2021. Current and historic dividend information, as well as quarterly financial statements, investor presentations, and earnings call transcripts are available online through Alerus’ investor relations website at investors.alerus.com.

Alerus Financial Corporation (Nasdaq: ALRS) reported net income of $15.2 million for the first quarter of 2021, or $0.86 per diluted common share, compared to net income of $10.2 million, or $0.57 per diluted common share, for the fourth quarter of 2020, and net income of $5.4 million, or $0.30 per diluted common share, for the first quarter of 2020.

Alerus Financial Corporation (NASDAQALRS) is pleased to announce it has received the Raymond James Community Bankers Cup award for 2020. Now in its ninth year, this prestigious award recognizes the top 10% of 241 publicly traded community banks in the U.S. with assets between $500 million and $10 billion.