Alerus Financial Corporation — Third Quarter 2026 Earnings Summary

Alerus Financial Corporation reported a net income of $19.2 million, or $0.76 per diluted share, for the third quarter of 2026. Total loans increased by 3.7% to $4.2 billion, driven by a 36.5% year-over-year growth in commercial and business lending. Noninterest income rose 16.7% compared to the prior year, representing 42.4% of total revenue, while the net interest margin on a tax-equivalent basis stood at 3.84%. The company returned $37.2 million to shareholders through dividends and share repurchases in the first nine months of the year and maintained a tangible book value per share of $18.74.