Alerus Financial Corporation (ALRS) Financial Statements (2025 and earlier)
Company Profile
| Business Address |
401 DEMERS AVE GRAND FORKS, ND 58201 |
| State of Incorp. | DE |
| Fiscal Year End | December 31 |
| Industry (SIC) | 6021 - National Commercial Banks (benchmarking) |
| More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) ($ in thousands)
| 9/30/2024 MRQ | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | |||
|---|---|---|---|---|---|---|---|---|
| ASSETS | ||||||||
| Current Assets | ||||||||
| Cash, cash equivalents, and short-term investments | 129,893 | 58,242 | 242,311 | 172,962 | 146,814 | |||
| Cash and cash equivalents | 129,893 | 58,242 | 242,311 | 172,962 | 144,006 | |||
| Short-term investments | 2,808 | |||||||
| Financing receivable, accrued interest, after allowance for credit loss | ✕ | 12,200 | ✕ | |||||
| Debt securities, held-to-maturity, accrued interest, after allowance for credit loss | ✕ | 1,400 | ✕ | |||||
| Total current assets: | 143,493 | 58,242 | 242,311 | 172,962 | 146,814 | |||
| Noncurrent Assets | ||||||||
| Finance lease, right-of-use asset, after accumulated amortization | 87 | 202 | 318 | |||||
| Operating lease, right-of-use asset | 5,436 | 5,419 | 3,727 | 6,918 | 8,343 | |||
| Property, plant and equipment | 20,289 | 20,629 | ||||||
| Intangible assets, net (including goodwill) | 63,941 | 69,542 | 51,740 | 56,120 | 45,720 | |||
| Goodwill | 46,783 | 47,087 | 31,490 | 30,201 | 27,329 | |||
| Intangible assets, net (excluding goodwill) | 17,158 | 22,455 | 20,250 | 25,919 | 18,391 | |||
| Deferred income tax assets | 34,595 | 42,369 | 11,614 | 9,409 | 7,891 | |||
| Total noncurrent assets: | 103,972 | 117,330 | 67,168 | 92,938 | 82,901 | |||
| Other undisclosed assets | 3,660,248 | 3,604,065 | 3,083,212 | 2,747,871 | 2,127,163 | |||
| TOTAL ASSETS: | 3,907,713 | 3,779,637 | 3,392,691 | 3,013,771 | 2,356,878 | |||
| LIABILITIES AND EQUITY | ||||||||
| Liabilities | ||||||||
| Current Liabilities | ||||||||
| Debt | 314,170 | 378,080 | ||||||
| Total current liabilities: | 314,170 | 378,080 | ||||||
| Noncurrent Liabilities | ||||||||
| Other undisclosed liabilities | 3,224,416 | 3,044,685 | 3,033,288 | 2,683,608 | 2,071,150 | |||
| Total liabilities: | 3,538,586 | 3,422,765 | 3,033,288 | 2,683,608 | 2,071,150 | |||
| Equity | ||||||||
| Equity, attributable to parent | 369,127 | 356,872 | 359,403 | 330,163 | 285,728 | |||
| Common stock | 19,734 | 19,992 | 17,213 | 17,125 | 17,050 | |||
| Additional paid in capital | 150,343 | 155,095 | 92,878 | 90,237 | 88,650 | |||
| Accumulated other comprehensive income (loss) | (73,655) | (98,641) | (4,255) | 10,638 | 1,936 | |||
| Retained earnings | 272,705 | 280,426 | 253,567 | 212,163 | 178,092 | |||
| Total equity: | 369,127 | 356,872 | 359,403 | 330,163 | 285,728 | |||
| TOTAL LIABILITIES AND EQUITY: | 3,907,713 | 3,779,637 | 3,392,691 | 3,013,771 | 2,356,878 | |||
Income Statement (P&L) ($ in thousands)
| 9/30/2024 TTM | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | ||
|---|---|---|---|---|---|---|---|
| Revenues | 137,277 | 114,015 | 92,184 | 97,909 | 92,561 | ||
| Gain (loss) on disposition of assets for financial service operations | (24,643) | 125 | 2,737 | 357 | |||
| Net investment income | 161,920 | 114,015 | 92,059 | 95,172 | 92,204 | ||
| Cost of revenue (Provision for Loan, Lease, and Other Losses) | (2,057) | (10,900) | (7,312) | ||||
| Gross profit: | 135,220 | 114,015 | 92,184 | 87,009 | 85,249 | ||
| Operating expenses | (12,755) | (15,243) | (12,277) | (10,361) | (11,682) | ||
| Other operating income, net (Noninterest Income, Other Operating Income) | 8,032 | 4,863 | 4,604 | 5,177 | 6,947 | ||
| Operating income: | 130,497 | 103,635 | 84,511 | 81,825 | 80,514 | ||
| Nonoperating income (Bank Owned Life Insurance Income) | 877 | 835 | 793 | 797 | 803 | ||
| Interest and debt expense | (77,044) | (15,848) | (5,558) | (12,256) | (18,749) | ||
| Other undisclosed income from continuing operations before equity method investments, income taxes | |||||||
| Income from continuing operations before equity method investments, income taxes: | 54,330 | 88,622 | 79,746 | 70,366 | 62,568 | ||
| Other undisclosed loss from continuing operations before income taxes | (38,476) | (36,440) | (10,669) | (11,848) | (23,672) | ||
| Income from continuing operations before income taxes: | 15,854 | 52,182 | 69,077 | 58,518 | 38,896 | ||
| Income tax expense | (4,158) | (12,177) | (16,396) | (13,843) | (9,356) | ||
| Income from continuing operations: | 11,696 | 40,005 | 52,681 | 44,675 | 29,540 | ||
| Income before gain (loss) on sale of properties: | ✕ | ✕ | ✕ | 52,681 | 44,675 | 29,540 | |
| Net income attributable to parent: | 11,696 | 40,005 | 52,681 | 44,675 | 29,540 | ||
| Undistributed earnings (loss) allocated to participating securities, basic | 5 | (416) | (802) | (770) | (647) | ||
| Net income available to common stockholders, diluted: | 11,701 | 39,589 | 51,879 | 43,905 | 28,893 | ||
Comprehensive Income ($ in thousands)
| 9/30/2024 TTM | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | ||
|---|---|---|---|---|---|---|---|
| Net income: | 11,696 | 40,005 | 52,681 | 44,675 | 29,540 | ||
| Other comprehensive loss | (297) | ||||||
| Other undisclosed comprehensive loss | |||||||
| Comprehensive income: | 11,399 | 40,005 | 52,681 | 44,675 | 29,540 | ||
| Other undisclosed comprehensive income (loss), net of tax, attributable to parent | 25,283 | (94,386) | (14,893) | 8,702 | 5,537 | ||
| Comprehensive income (loss), net of tax, attributable to parent: | 36,682 | (54,381) | 37,788 | 53,377 | 35,077 | ||
Statements Sources
The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.