Grand Forks, ND · Cert 3931 · Alerus Financial Corp.
National charter · OCC · 26 branches
Q2 2026
Market Position · Minneapolis-St. Paul-Bloomington, MN-WI · 2026 SOD (annual) · 0.8% share · #12 of 125 inst. · $2.0B of $253.2B
Return on Assets (YTD, annualized)
Net Interest Margin (YTD, annualized)
Efficiency Ratio (YTD, annualized)
Tier 1 Leverage Ratio
Year to date, annualized, through each quarter.
| Metric | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | Q2 2026 | YoY Δ | Trend |
|---|---|---|---|---|---|---|---|---|---|---|
| Earnings | ||||||||||
| Return on Assets | 0.74% | 0.67% | 1.09% | 1.37% | 1.36% | 0.42% | 1.81% | 1.78% | +41 bps | |
| Return on Equity | 8.52% | 7.53% | 11.34% | 13.93% | 13.69% | 4.16% | 16.77% | 16.35% | +242 bps | |
| Net Interest Margin | 2.22% | 2.12% | 3.29% | 3.34% | 3.29% | 3.36% | 3.57% | 3.68% | +34 bps | |
| Efficiency Ratio | 73.36% | 71.31% | 67.33% | 62.93% | 63.33% | 63.18% | 62.77% | 61.42% | -152 bps | |
| Non-Interest Burden | 1.06% | 0.98% | 1.68% | 1.42% | 1.43% | 1.45% | 1.46% | 1.43% | 0 bps | |
| Growth | ||||||||||
| Asset Growth (YoY) | 5.38% | 35.18% | 23.24% | 22.30% | 30.68% | -0.78% | -0.93% | -0.68% | -2,299 bps | |
| Loan Growth (YoY) | 16.13% | 44.86% | 45.84% | 39.25% | 35.26% | 1.52% | -1.01% | -1.27% | -4,052 bps | |
| Deposit Growth (YoY) | 15.20% | 39.82% | 35.09% | 30.12% | 31.47% | -4.21% | -3.02% | -3.24% | -3,335 bps | |
| Asset Quality | ||||||||||
| Nonperforming Loans / Loans | 1.58% | 1.31% | 1.16% | 1.16% | 1.45% | 1.63% | 1.32% | 0.26% | -89 bps | |
| Net Charge-Offs / Loans | 0.13% | 0.10% | 0.04% | 0.21% | 0.08% | 0.05% | 0.69% | 0.47% | +27 bps | |
| Allowance / Loans | 1.29% | 1.49% | 1.51% | 1.44% | 1.51% | 1.52% | 1.24% | 1.19% | -25 bps | |
| Allowance Coverage of NPLs | 0.8x | 1.1x | 1.3x | 1.2x | 1.0x | 0.9x | 0.9x | 4.5x | +3.3x | |
| Capital | ||||||||||
| Tier 1 Leverage Ratio | 8.90% | 8.69% | 9.06% | 9.34% | 9.31% | 8.62% | 9.11% | 9.26% | -8 bps | |
| Total Risk-Based Capital | 11.98% | 11.43% | 11.61% | 12.04% | 12.25% | 11.66% | 12.00% | 12.11% | +7 bps | |
| Equity / Assets | 9.11% | 9.54% | 9.75% | 10.12% | 10.36% | 10.77% | 10.86% | 11.00% | +88 bps | |
| Liquidity & Funding | ||||||||||
| Loans / Deposits | 89.82% | 90.55% | 90.47% | 93.89% | 92.41% | 95.96% | 92.35% | 95.80% | +191 bps | |
| Liquid Assets / Assets | 7.46% | 5.62% | 5.76% | 5.53% | 5.84% | 5.45% | 6.60% | 5.91% | +38 bps | |
| CRE / Total Capital | n/a | n/a | n/a | n/a | 422% | 438% | 429% | n/a | n/a | |