Alerus Q1 profit surges 73% on margin expansion; credit reserves drop despite charge-offs

Filed May 1, 2026 · Period ending March 31, 2026 · Compared to 10-Q May 6, 2025 · ~2 min read

Key Changes

• high

  Net income jumped 72.5% year-over-year to $23.0M ($0.89/share) as net interest margin expanded 36 basis points to 3.77%, driven by higher investment yields and lower deposit costs following Q4 2025 balance-sheet repositioning.

  MD&A: Net Income and Margin verify on EDGAR →
• high

  Company reversed $4.9M in credit-loss reserves while net charge-offs spiked to 0.71% of loans (from 0.04% prior year), concentrated in commercial/industrial and multifamily segments. Total allowance fell to $50.5M (1.25% of loans) from $61.9M (1.52%).

  MD&A: Credit Quality verify on EDGAR →
• high

  Common equity tier 1 capital ratio rose to 10.60% from 10.28% quarter-over-quarter, and tangible common equity to tangible assets climbed to 8.85% from 7.43%, reflecting retained earnings growth and reduced risk-weighted assets.

  MD&A: Capital Ratios verify on EDGAR →