ALERUS FINANCIAL CORP
For the period ended Sep 30, 2026. Filed Nov 5, 2026.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2026 · Filed Nov 5, 2026
ALRS$34.78+1.0%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Cash Flows
Consolidated Statements of Cash Flows (Unaudited)
| Nine months ended | ||
|---|---|---|
| September 30, | ||
| (dollars in thousands) | 2026 | 2025 |
| Operating Activities | ||
| Net income | $63,035 | $50,491 |
| Adjustments to reconcile net income to net cash provided (used) by operating activities | ||
| Deferred income taxes | 3,434 | 8,011 |
| Provision for (recovery of) credit losses | (2,188) | 863 |
| Depreciation and amortization | 10,026 | 11,548 |
| Amortization and accretion of premiums/discounts on investment securities | 138 | 573 |
| Amortization of operating lease right-of-use assets | 3,183 | 1,211 |
| Share‑based compensation expense | 2,427 | 2,027 |
| Purchase accounting accretion, net | (10,212) | (21,454) |
| Originations of loans held for sale | (313,941) | (120,539) |
| Proceeds on loans held for sale | 323,154 | 127,318 |
| Realized loss (gain) on mortgage loans sold | (7,159) | (7,936) |
| Servicing rights capitalized upon sale of mortgage loans | (89) | (154) |
| (Increase) in value of bank-owned life insurance | (767) | (753) |
| Realized loss (gain) on sale of premises and equipment | (2,186) | — |
| Realized loss (gain) on derivative instruments | 703 | (505) |
| Realized loss (gain) on sale of foreclosed assets | (55) | 60 |
| Change in fair value of mortgage servicing rights | (944) | 1,364 |
| Net change in: | ||
| Accrued interest receivable | 731 | (1,527) |
| Other assets | (5,549) | (649) |
| Accrued expenses and other liabilities | 33,956 | 1,241 |
| Net cash provided (used) by operating activities | 97,697 | 51,190 |
| Investing Activities | ||
| Proceeds from sales of trading investment securities | 3,355 | 6,233 |
| Purchases of trading investment securities | (2,269) | (4,257) |
| Proceeds from sales or calls of investment securities available-for-sale | 3,000 | 19,800 |
| Proceeds from maturities of investment securities available-for-sale | 49,413 | 63,536 |
| Purchases of investment securities available-for-sale | (111,359) | — |
| Proceeds from calls of investment securities held-to-maturity | 626 | 346 |
| Proceeds from maturities and paydowns of investment securities held-to-maturity | 20,311 | 15,314 |
| Proceeds from sale of non-mortgage loans held for sale | — | 62,491 |
| Net (increase) decrease in loans | (144,586) | (154,466) |
| Purchases of FHLB stock | (96,645) | (115,905) |
| Sales of FHLB stock | 96,163 | 116,541 |
| Purchases of BOLI | (2,073) | (2,211) |
| Proceeds from sale of premises and equipment | 3,149 | — |
| Purchases of premises and equipment | (1,258) | (7,651) |
| Proceeds from sales of foreclosed assets | 389 | 824 |
| Net cash provided (used) by investing activities | (181,784) | 595 |
| Financing Activities | ||
| Net increase (decrease) in deposits | 111,174 | 34,243 |
| Net increase (decrease) in short-term borrowings with maturities of three months or less | 9,600 | (38,960) |
| Cash dividends paid on common stock | (16,179) | (15,746) |
| Repurchase of common stock | (21,944) | (518) |
| Net cash provided (used) by financing activities | 82,651 | (20,981) |
| Net change in cash and cash equivalents | (1,436) | 30,804 |
| Cash and cash equivalents at beginning of period | 67,192 | 61,239 |
| Cash and cash equivalents at end of period | $65,756 | $92,043 |
| Nine months ended | ||
|---|---|---|
| September 30, | ||
| 2026 | 2025 | |
| Supplemental Cash Flow Disclosures | ||
| Interest paid | $68,150 | $83,247 |
| Income taxes paid | 631 | 2,212 |
| Cash dividends declared, not paid | 5,443 | 5,338 |
| Supplemental Disclosures of Noncash Investing and Financing Activities | ||
| Loan collateral transferred to foreclosed assets | (9,475) | (1,351) |
| Right-of-use assets obtained in exchange for new operating lease liabilities, net | 5,582 | 19,816 |
| Loans transferred to non-mortgage loans held for sale | — | 62,491 |
Alerus Financial Corporation and Subsidiaries
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.