Alerus Financial Corporation (ALRS)

Alerus Financial Corp. reported strong Q3 2025 results, beating analysts' expectations, and experienced deposit growth due to an acquisition. The company sold a significant portion of its available-for-sale securities, resulting in a one-time loss but expecting improved financial returns in 2026. The stock price has recently increased, but asset quality is a growing concern. The company is scheduled to announce its fourth-quarter financial results on January 28, 2026.

Alerus Financial Corp. experiences seasonality in its businesses. The company anticipates continued seasonal deposit outflows from its public funds in the third quarter. The mortgage segment typically sees a seasonal downturn in originations during the fourth quarter.

Alerus Financial Corp. operates as a diversified financial services company, offering banking, retirement and benefit services, wealth management, and mortgage solutions. The banking segment provides commercial loans, deposit accounts, and treasury management products. The Retirement & Benefit Services segment offers retirement plan administration, ESOP advisory, payroll services, and HSAs, managing $40.7 billion in AUA and AUM as of Q3 2025. The Wealth Management segment provides fiduciary services, including financial planning and investment management. The Mortgage segment focuses on residential mortgage origination and refinancing.

Alerus Financial Corp. is headquartered in Grand Forks, North Dakota, with corporate offices in the Minneapolis-St. Paul area. It has a physical presence in North Dakota, Minnesota, Arizona, Iowa, and Wisconsin. Retirement and Benefits plan administration offices are located in Minnesota, Michigan, and New Hampshire. The Alerus Retirement and Benefit business serves clients across all 50 states.

Alerus Financial Corp. maintains a strong brand reputation built on trust. Its National Retirement and Benefits business has strong organic growth and retention rates that are better than industry standards. No specific negative events affecting the company's reputation were found.

Alerus Financial Corp. has a diverse ownership base, with institutional investors holding the majority of the stock. As of September 30, 2025, there were 283 institutional owners and shareholders holding a total of 16,890,526 shares. Major institutional owners include Alerus Financial Na, BlackRock, Inc., and Vanguard Group Inc. Insiders also hold a notable stake in the company.