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ALRSAlerus Financial Corporation
$31.04$793M
Overview & Verdict
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ALRS logoAlerus Financial Corporation(ALRS)Earnings, Financials & Key Ratios

ALRS•NASDAQ•Banking & Credit
$31.04
45.6× P/E·Price updated Jul 7, 2026
SectorFinancial ServicesIndustryRegional BanksSub-IndustryBanks with large fee businesses
AboutAlerus Financial Corporation, through its subsidiary, Alerus Financial, National Association, provides various financial services to businesses and consumers. The company operates in four segments: Banking, Retirement and Benefit Services, Wealth Management, and Mortgage. It offers various deposit products, including demand deposits, interest-bearing transaction accounts, money market accounts, time and savings deposits, checking accounts, and certificates of deposit; and treasury management products, including electronic receivables management, remote deposit capture, cash vault services, merchant services, and other cash management services. The company also provides commercial loans, business term loans, lines of credit, and commercial real estate loans, as well as construction and land development loans; consumer lending products, including residential first mortgage loans; installment loans and lines of credit; and second mortgage loans. In addition, it offers retirement plan administration and investment advisory services, employee stock ownership plan, fiduciary services, payroll, health savings accounts, and other benefit services, as well as individual retirement accounts; and financial planning, investment management, personal and corporate trust, estate administration, and custody services. Further, the company provides debit and credit cards, online banking, mobile banking/wallet, payment, private banking, payroll accounts, flex spending accounts, administration, and government health insurance program services. It offers banking services through fourteen offices in North Dakota, Minnesota, and Arizona; and retirement and benefit plans in 50 states through offices located in Michigan, Minnesota, and Colorado. The company was formerly known as First National Bank North Dakota and changed its name to Alerus Financial Corporation in 2000. Alerus Financial Corporation was founded in 1879 and is headquartered in Grand Forks, North Dakota.Show more
  • Net Interest Income$172M+61.1%
  • Total Revenue$328M-3.1%
  • Net Income$17M-1.9%
  • Return on Equity3.29%-20.0%
  • Net Interest Margin3.3%+62.1%
  • Efficiency Ratio60.26%+11.7%
  • ROA0.33%-14.3%
  • Equity / Assets10.8%+14.7%
  • Book Value per Share21.98-5.4%

ALRS Price & Volume

Alerus Financial Corporation (ALRS) stock price & volume — 10-year historical chart

Loading chart...

Fee-Driven Revenue Recovery Offsets Margin Stagnation

Investment Thesis • Updated 2026Q1

VerdictNeutral
Growth:Mixed
Profitability:Strained
Financial:Healthy
Cash Flow:Stable
Primary Risk:Fee income volatility

Key Thesis Takeaways

  • Alerus Financial Corporation exhibits a complex recovery profile characterized by a successful expansion of net interest income to $44.9 million in 2026Q1, though this is tempered by persistent net interest margin compression at 0.8%.
  • The firm's reliance on non-interest income, which contributed $30.8 million in the most recent quarter, provides a critical buffer against cyclical lending volatility but introduces earnings sensitivity to its specialized retirement services segment.
  • Investors should monitor the significant $4.8 billion investment securities portfolio, as its rapid growth from $3.5 billion in 2023Q4 suggests potential duration risk that could impact future capital flexibility.

Verdict Logic

while the forward P/E of 10.39 suggests potential value, the high earnings volatility and the 157.1% efficiency ratio observed in 2025Q4 warrant caution regarding the sustainability of current profitability levels.

ALRS Growth Metrics

Alerus Financial Corporation (ALRS) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years8.87%
5 Years6.46%
3 Years13.44%
TTM-

Profit CAGR

10 Years0.19%
5 Years-17.15%
3 Years-24.18%
TTM9.86%

EPS CAGR

10 Years-5.6%
5 Years-23.05%
3 Years-31.33%
TTM-13.93%

Return on Capital

10 Years10.09%
5 Years7.51%
3 Years2.77%
Last Year0.81%

ALRS Recent Earnings

Alerus Financial Corporation (ALRS) EPS & revenue vs analyst estimates — last 4 quarters

Full history →
●Beat EPS 8/12 qtrs (67%)●Beat Revenue 8/12 qtrs (67%)
Q2 2026Latest
Apr 29, 2026
Metric
Actual
Est
EPS
$0.89+53.4%
$0.58
Rev
$76M+2.7%
$74M
Q1 2026
Jan 28, 2026
Metric
Actual
Est
EPS
$0.85+49.1%
$0.57
Rev
$78M+9.0%
$71M
Q4 2025
Oct 30, 2025
Metric
Actual
Est
EPS
$0.66+11.9%
$0.59
Rev
$72M+0.2%
$71M
Q3 2025
Jul 28, 2025
Metric
Actual
Est
EPS
$0.72+28.6%
$0.56
Rev
$74M+4.1%
$71M
QuarterDateEPS (Act vs Est)Revenue (Act vs Est)
Q2 2026LatestApr 29, 2026
$0.89vs $0.58+53.4%
$76Mvs $74M+2.7%
Q1 2026Jan 28, 2026
$0.85vs $0.57+49.1%
$78Mvs $71M+9.0%
Q4 2025Oct 30, 2025
$0.66vs $0.59+11.9%
$72Mvs $71M+0.2%
Q3 2025Jul 28, 2025
$0.72vs $0.56+28.6%
$74Mvs $71M+4.1%
Based on last 12 quarters of dataView full earnings history →

Latest ALRS News

Recent stock market news and headlines for Alerus Financial Corporation (ALRS)

Zacks Investment Research·Jun 25, 2026
Alerus Financial (ALRS) Hits Fresh High: Is There Still Room to Run?

Alerus (ALRS) is at a 52-week high, but can investors hope for more gains in the future? We take a look at the company's fundamentals for clues.

Peers Comparison

Key metrics vs top competitors for Alerus Financial Corporation (ALRS)

Full Screener →
CompanyPriceMarket CapP/E RatioRev Growth (1Y)Net MarginROEDiv Yield
ALRS logoALRSAlerus Financial CorporationCurrent
$31.04$793.39M45.65-3.08%5.32%3.29%2.61%
NBTB logoNBTBNBT Bancorp Inc.
$49.63$2.58B14.9010.36%19.66%9.83%—
FFIN logoFFINFirst Financial Bankshares, Inc.
$34.67$4.97B19.5911.71%31.14%14.2%—
BANF logoBANFBancFirst Corporation
$114.32$3.84B16.06-9.29%29.66%13.62%—
OTTR logoOTTROtter Tail Corporation
$90.85$3.81B13.87-1.99%21.34%15.21%—
WSFS logoWSFSWSFS Financial Corporation
$76.24$3.97B14.98-3.05%22.64%11.38%—

Compare ALRS vs Peers

Alerus Financial Corporation (ALRS) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs NBTB

Most directly comparable listed peer for ALRS.

Scale Benchmark

vs ADP

Larger-name benchmark to compare ALRS against a more recognizable public peer.

Peer Set

Compare Top 5

vs NBTB, FFIN, BANF, OTTR

ALRS SEC Filings & Documents

Alerus Financial Corporation (ALRS) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

Apr 29, 2026·SEC

Material company update

Mar 31, 2026·SEC

Material company update

Feb 26, 2026·SEC

10-K Annual Reports

3
FY 2026

Mar 4, 2026·SEC

FY 2025

Mar 14, 2025·SEC

FY 2024

Mar 8, 2024·SEC

10-Q Quarterly Reports

6
FY 2026

May 1, 2026·SEC

FY 2025

Nov 5, 2025·SEC

FY 2025

Aug 5, 2025·SEC

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ALRS Frequently Asked Questions

Alerus Financial Corporation (ALRS) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials
How fast is Alerus Financial Corporation growing?

Alerus Financial Corporation (ALRS) saw revenue decline by 3.1% over the past year.

Is ALRS profitable?

Yes, Alerus Financial Corporation (ALRS) is profitable, generating $27.1M in net income for fiscal year 2025 (5.3% net margin).

Dividend & Returns
Does ALRS pay dividends?

Yes, Alerus Financial Corporation (ALRS) pays a dividend with a yield of 2.61%. This makes it attractive for income-focused investors.

What is ALRS's return on equity?

Alerus Financial Corporation (ALRS) has a return on equity (ROE) of 3.3%. This is below average, suggesting room for improvement.

Industry Metrics
What is Alerus Financial Corporation's net interest margin?

Alerus Financial Corporation (ALRS) has a net interest margin (NIM) of 3.3%. This indicates healthy earnings from lending activities.

What is Alerus Financial Corporation's efficiency ratio?

Alerus Financial Corporation (ALRS) has an efficiency ratio of 60.3%. This is reasonable for a bank.

What if you invested $1,000 in ALRS back in 2012?

Total return calculator · dividends reinvested · 14+ years of data

See returns →