ALERUS FINANCIAL CORP
For the period ended Mar 31, 2024. Filed May 2, 2024.
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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.
Mar 31, 2024 · Filed May 2, 2024
ALRS$34.45+1.9%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Balance Sheets
| | | | | | | |
|---|---|---|---|---|---|---|
| · March 31, · December 31, | ||||||
| (dollars in thousands, except share and per share data) · 2024 · 2023 | ||||||
| Assets · (Unaudited) · (Unaudited) | ||||||
| Cash and cash equivalents | | $545,772 | | $129,893 | ||
| Investment securities | | | ||||
| Trading | | 4,553 | | — | ||
| Available-for-sale, at fair value (amortized cost of $573,733 and $584,754, respectively) | | 472,272 | | 486,736 | ||
| Held-to-maturity, at amortized cost (fair value of $249,807 and $258,617, respectively, with an allowance for credit losses on investments of $207 and $213, respectively) | | 291,932 | | 299,515 | ||
| Loans held for sale | | 10,625 | | 11,497 | ||
| Loans | | 2,799,475 | | 2,759,583 | ||
| Allowance for credit losses on loans | | (36,584) | | (35,843) | ||
| Net loans | | 2,762,891 | | 2,723,740 | ||
| Land, premises and equipment, net | | 18,162 | | 17,940 | ||
| Operating lease right-of-use assets | | 5,112 | | 5,436 | ||
| Accrued interest receivable | | 16,149 | | 15,700 | ||
| Bank-owned life insurance | | 33,396 | | 33,236 | ||
| Goodwill | | 46,783 | | 46,783 | ||
| Other intangible assets, net | | 15,834 | | 17,158 | ||
| Servicing rights | | 1,983 | | 2,052 | ||
| Deferred income taxes, net | | 34,796 | | 34,595 | ||
| Other assets | | 77,833 | | 83,432 | ||
| Total assets | | $4,338,093 | | $3,907,713 | ||
| Liabilities and Stockholders’ Equity | | | ||||
| Liabilities | | | | | | |
| Deposits | | | ||||
| Noninterest-bearing | | $692,500 | | $728,082 | ||
| Interest-bearing | | 2,592,469 | | 2,367,529 | ||
| Total deposits | | 3,284,969 | | 3,095,611 | ||
| Short-term borrowings | | 555,000 | | 314,170 | ||
| Long-term debt | | 58,985 | | 58,956 | ||
| Operating lease liabilities | | 5,420 | | 5,751 | ||
| Accrued expenses and other liabilities | | 62,084 | | 64,098 | ||
| Total liabilities | | 3,966,458 | | 3,538,586 | ||
| Commitments and contingencies (Note 11) | | | | | | |
| Stockholders’ equity | | | ||||
| Preferred stock, $1 par value, 2,000,000 shares authorized: 0 issued and outstanding | | | — | | | — |
| Common stock, $1 par value, 30,000,000 shares authorized: 19,776,786 and 19,734,077 issued and outstanding | | 19,777 | | 19,734 | ||
| Additional paid-in capital | | 150,740 | | 150,343 | ||
| Retained earnings | | 275,374 | | 272,705 | ||
| Accumulated other comprehensive income (loss) | | (74,256) | | (73,655) | ||
| Total stockholders’ equity | | 371,635 | | 369,127 | ||
| Total liabilities and stockholders’ equity | | $4,338,093 | | $3,907,713 | ||
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.