Alerus Financial Corporation reported significant financial growth in its latest quarterly results, with net income for the second quarter of 2025 reaching $20.3 million, or $0.78 per diluted share, a substantial increase from $6.2 million, or $0.31 per diluted share, in the same period last year. This 226.2% rise in earnings was primarily driven by a $19 million increase in net interest income, which totaled $43 million for the quarter, and a $4.4 million increase in noninterest income, totaling $31.8 million. For the first half of 2025, net income was $33.6 million, up 165.6% from $12.6 million in the prior year.
The company’s total assets increased by $62.1 million, or 1.2%, to $5.3 billion as of June 30, 2025, compared to December 31, 2024. This growth was attributed to a $52.1 million increase in loans held for investment, alongside a non-cash transfer of $50.2 million to non-mortgage loans held for sale. However, there was a decrease in available-for-sale and held-to-maturity investment securities, which fell by $46.9 million and $11.9 million, respectively.
Alerus also experienced a decrease in total deposits, which fell by $40.9 million, or 0.9%, to $4.3 billion. This decline was primarily due to seasonal outflows from public funds depositors and a decrease in clearing and synergistic deposits, although it was partially offset by an increase in brokered deposit balances. The company’s loan portfolio remained diversified, with total loans outstanding at $4.0 billion, reflecting a 1.3% increase from the previous period.
In terms of operational metrics, the company reported a return on average total assets of 1.53% for the second quarter, up from 0.58% a year earlier, and a return on average common equity of 15.82%, compared to 6.76% in the prior year. The allowance for credit losses on loans was $59.3 million, a slight decrease from $59.9 million at the end of 2024, attributed to loan growth and the transfer of non-mortgage loans to held for sale. Looking ahead, Alerus Financial remains focused on maintaining strong asset quality while pursuing growth opportunities in its banking, retirement, and wealth management segments.
About ALERUS FINANCIAL CORP
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