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)Annual | Quarterly
| 12/31/2024 Q4 | 9/30/2024 Q3 | 6/30/2024 Q2 | 3/31/2024 Q1 | 12/31/2023 Q4 | 9/30/2023 Q3 | 6/30/2023 Q2 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 68,683 | 441,009 | 550,325 | 129,893 | 64,724 | 65,471 | |||
| Cash and cash equivalent | 65,975 | 438,141 | 545,772 | 129,893 | 64,724 | 65,471 | |||
| Short-term investments | 2,708 | 2,868 | 4,553 | ||||||
| Financing receivable, accrued interest, after allowance for credit loss | ✕ | ✕ | 13,500 | 12,300 | 12,200 | 11,500 | 9,800 | ||
| Debt securities, held-to-maturity, accrued interest, after allowance for credit loss | ✕ | ✕ | 1,300 | 1,000 | 1,400 | 1,000 | 1,400 | ||
| Total current assets: | 68,683 | 455,809 | 563,625 | 143,493 | 77,224 | 76,671 | |||
| Noncurrent Assets | |||||||||
| Operating lease, right-of-use asset | 9,268 | 4,871 | 5,112 | 5,436 | 5,986 | 6,440 | |||
| Property, plant and equipment | 18,790 | ||||||||
| Long-term investments and receivables | |||||||||
| Long-term investments | |||||||||
| Intangible assets, net (including goodwill) | 59,969 | 61,293 | 62,617 | 63,941 | 65,265 | 66,893 | |||
| Goodwill | 46,783 | 46,783 | 46,783 | 46,783 | 46,783 | 47,087 | |||
| Intangible assets, net (excluding goodwill) | 13,186 | 14,510 | 15,834 | 17,158 | 18,482 | 19,806 | |||
| Deferred income tax assets | 33,054 | 35,732 | 34,796 | 34,595 | 47,978 | 43,709 | |||
| Investment, proportional amortization method, elected, amount | |||||||||
| Total noncurrent assets: | 121,081 | 101,896 | 102,525 | 103,972 | 119,229 | 117,042 | |||
| Other undisclosed assets | 3,894,876 | 3,800,918 | 3,671,943 | 3,660,248 | 3,672,685 | 3,639,265 | |||
| TOTAL ASSETS: | 4,084,640 | 4,358,623 | 4,338,093 | 3,907,713 | 3,869,138 | 3,832,978 | |||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Debt | 244,700 | 555,000 | 555,000 | 314,170 | 515,470 | 492,060 | |||
| Total current liabilities: | 244,700 | 555,000 | 555,000 | 314,170 | 515,470 | 492,060 | |||
| Noncurrent Liabilities | |||||||||
| Other undisclosed liabilities | 3,453,454 | 3,430,397 | 3,411,458 | 3,224,416 | 3,004,266 | 2,983,233 | |||
| Total liabilities: | 3,698,154 | 3,985,397 | 3,966,458 | 3,538,586 | 3,519,736 | 3,475,293 | |||
| Equity | |||||||||
| Equity, attributable to parent | 386,486 | 373,226 | 371,635 | 369,127 | 349,402 | 357,685 | |||
| Common stock | 19,790 | 19,778 | 19,777 | 19,734 | 19,848 | 19,915 | |||
| Additional paid in capital | 151,257 | 150,857 | 150,740 | 150,343 | 151,875 | 152,673 | |||
| Accumulated other comprehensive loss | (63,424) | (75,029) | (74,256) | (73,655) | (113,483) | (100,742) | |||
| Retained earnings | 278,863 | 277,620 | 275,374 | 272,705 | 291,162 | 285,839 | |||
| Total equity: | 386,486 | 373,226 | 371,635 | 369,127 | 349,402 | 357,685 | |||
| TOTAL LIABILITIES AND EQUITY: | 4,084,640 | 4,358,623 | 4,338,093 | 3,907,713 | 3,869,138 | 3,832,978 | |||
Income Statement (P&L) ($ in thousands)Annual | Quarterly
| 12/31/2024 Q4 | 9/30/2024 Q3 | 6/30/2024 Q2 | 3/31/2024 Q1 | 12/31/2023 Q4 | 9/30/2023 Q3 | 6/30/2023 Q2 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 47,358 | 46,678 | 44,036 | 19,310 | 41,314 | 39,578 | ||
| Loss on disposition of assets for financial service operations | (24,643) | |||||||
| Net investment income | 47,358 | 46,678 | 44,036 | 43,953 | 41,314 | 39,578 | ||
| Cost of revenue (Provision for Loan, Lease, and Other Losses) | (1,661) | (4,489) | (1,507) | |||||
| Gross profit: | 45,697 | 42,189 | 44,036 | 17,803 | 41,314 | 39,578 | ||
| Operating expenses | (7,107) | (5,050) | (3,498) | (4,181) | (4,464) | (4,214) | ||
| Other operating income, net (Noninterest Income, Other Operating Income) | 2,474 | 1,923 | 1,491 | 2,557 | 1,693 | 1,223 | ||
| Operating income: | 41,064 | 39,062 | 42,029 | 16,179 | 38,543 | 36,587 | ||
| Nonoperating income | ||||||||
| Interest and debt expense | (29,021) | (26,819) | (23,143) | (21,643) | (18,106) | |||
| Other undisclosed income from continuing operations before equity method investments, income taxes | 877 | |||||||
| Income (loss) from continuing operations before equity method investments, income taxes: | 41,064 | 10,041 | 15,210 | (6,087) | 16,900 | 18,481 | ||
| Other undisclosed loss from continuing operations before income taxes | (34,267) | (1,910) | (6,687) | (11,732) | (5,358) | (6,842) | ||
| Income (loss) from continuing operations before income taxes: | 6,797 | 8,131 | 8,523 | (17,819) | 11,542 | 11,639 | ||
| Income tax expense (benefit) | (1,590) | (1,923) | (2,091) | 3,064 | (2,381) | (2,535) | ||
| Net income (loss) attributable to parent: | 5,207 | 6,208 | 6,432 | (14,755) | 9,161 | 9,104 | ||
| Undistributed earnings (loss) allocated to participating securities, basic | (24) | (38) | (40) | 191 | (67) | (62) | ||
| Net income (loss) available to common stockholders, diluted: | 5,183 | 6,170 | 6,392 | (14,564) | 9,094 | 9,042 | ||
Comprehensive Income ($ in thousands)Annual | Quarterly
| 12/31/2024 Q4 | 9/30/2024 Q3 | 6/30/2024 Q2 | 3/31/2024 Q1 | 12/31/2023 Q4 | 9/30/2023 Q3 | 6/30/2023 Q2 | ||
|---|---|---|---|---|---|---|---|---|
| Net income (loss): | 5,207 | 6,208 | 6,432 | (14,755) | 9,161 | 9,104 | ||
| Other comprehensive income (loss) | (869) | 25 | 684 | 3,794 | ||||
| Other undisclosed comprehensive loss | (297) | |||||||
| Comprehensive income (loss): | 4,338 | 6,233 | 7,116 | (15,052) | 9,161 | 12,898 | ||
| Other undisclosed comprehensive income (loss), net of tax, attributable to parent | 12,474 | (798) | (1,285) | 40,125 | (12,741) | (8,229) | ||
| Comprehensive income (loss), net of tax, attributable to parent: | 16,812 | 5,435 | 5,831 | 25,073 | (3,580) | 4,669 | ||
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.