Alerus Financial Corp reported second-quarter 2026 results with revenue of $80M and net income of $20.9M, supported by growth in noninterest income and continued portfolio actions that improved asset quality. Diluted EPS was $0.81 for the quarter.
Financial Highlights
- Revenue was $80.0M for Q2 2026 (tax-equivalent basis), versus $75.4M in Q2 2025; YoY change 6.1%.
- Net income was $20.9M for Q2 2026, versus $20.3M in Q2 2025; YoY change 3.0%.
- Diluted EPS was $0.81 for Q2 2026, versus $0.78 in Q2 2025; YoY change 3.8%.
Business Highlights
- Revenue growth was driven by noninterest income, with retirement/benefit and wealth advisory businesses up roughly 8% year over year and mortgage banking improving.
- There is a continued shift toward fee-based services—retirement, wealth and mortgage servicing are becoming primary revenue drivers alongside net interest income.
- The company is investing in technology, realigning facilities and staffing to support growth while maintaining an efficiency ratio near 63%.
- Proactive commercial real estate repositioning reduced criticized and nonperforming loans, supported an allowance for credit losses release, and improved the loan mix and asset quality metrics.
Original SEC Filing:
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