The bank maintains a conservative capital structure with an equity-to-assets ratio of 0.11, supporting a $5.3 billion asset base that is heavily concentrated in $4.8 billion of investment securities.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 |
|---|
| Cash & Short Term Investments | 1.45B | 68.95M | 652.6M | 616.63M | 775.57M | 1.1B | 765.3M | 454.36M | 290.82M | 389.02M | 484.32M | 456.56M | 249.67M | 72.54M | 123.68M |
| Cash & Due from Banks | 128.83M | 67.19M | 61.24M | 129.89M | 58.24M | 242.31M | 172.96M | 144.01M | 40.65M | 122M | 207.37M | 266.16M | 45.53M | 72.54M | 123.68M |
| Short Term Investments | 0 | 1.76M | 591.36M | 486.74M | 717.32M | 853.65M | 592.34M | 310.35M | 250.17M | 267.02M | 276.95M | 190.4M | 204.14M | 0 | 0 |
| Total Investments | 4.78B | 4.82B | 4.82B | 3.53B | 3.47B | 2.98B | 2.67B | 2.06B | 1.98B | 1.85B | 1.66B | 1.35B | 1.32B | 1.21B | 1.1B |
| Investments Growth % | 59.86% | -0.02% | 36.6% | 1.8% | 16.29% | 11.53% | 29.85% | 4.01% | 7.08% | 11.11% | 22.93% | 2.37% | 9.47% | 10.11% | - |
| Long-Term Investments | 18.23B | 4.82B | 4.23B | 3.04B | 2.75B | 2.13B | 2.08B | 1.75B | 1.73B | 1.58B | 1.39B | 1.16B | 1.12B | 1.21B | 1.1B |
| Accounts Receivables | 0 | 21.74M | 20.07M | 15.7M | 12.87M | 8.54M | 9.66M | 7.55M | 7.64M | 6.82M | 5.92M | 4.83M | 4.77M | 0 | 0 |
| Goodwill & Intangibles | 117.03M | 119M | 137.43M | 65.99M | 72.19M | 53.62M | 58.11M | 49.56M | 54.42M | 59.13M | 64.83M | 25.43M | 25.71M | 0 | 0 |
| Goodwill | 85.63M | 85.63M | 85.63M | 46.78M | 47.09M | 31.49M | 30.2M | 27.33M | 27.33M | 27.33M | 27.33M | 3.68M | 3.26M | 0 | 0 |
| Intangible Assets | 31.4M | 33.37M | 51.8M | 19.21M | 25.1M | 22.13M | 27.91M | 22.24M | 27.1M | 31.8M | 37.51M | 21.75M | 22.44M | 0 | 0 |
| PP&E (Net) | 76.55M | 72.01M | 53.22M | 23.38M | 22.71M | 22.1M | 27.21M | 28.97M | 21.74M | 21.23M | 24.26M | 22.42M | 21.46M | 97.58M | 92.97M |
| Other Assets | 146.22M | -4.78B | 70.21M | 60.36M | 61.4M | 43.41M | 43.83M | 41.46M | 45.65M | 42.76M | 43.43M | 40.45M | 44.61M | 3.95M | 9.67M |
| Total Current Assets | 149.29M | 88.93M | 716.66M | 679.68M | 830.39M | 1.13B | 793.86M | 480.35M | 317.74M | 422.07M | 511.68M | 479.74M | 263.88M | 72.54M | 123.68M |
| Total Non-Current Assets | 5.14B | 250.38M | 4.55B | 3.23B | 2.95B | 2.26B | 2.22B | 1.88B | 1.86B | 1.71B | 1.54B | 1.27B | 1.22B | 1.31B | 1.2B |
| Total Assets | 5.29B | 5.23B | 5.26B | 3.91B | 3.78B | 3.39B | 3.01B | 2.36B | 2.18B | 2.14B | 2.05B | 1.74B | 1.49B | 1.38B | 1.32B |
| Asset Growth % | 51.08% | -0.6% | 34.65% | 3.39% | 11.41% | 12.57% | 27.87% | 8.16% | 1.97% | 4.22% | 17.52% | 17.28% | 7.67% | 4.43% | - |
| Return on Assets (ROA) | 0.51% | 0.33% | 0.39% | 0.3% | 1.12% | 1.64% | 1.66% | 1.3% | 1.2% | 0.72% | 0.74% | 1.06% | 1.45% | 1.5% | 1.23% |
| Accounts Payable | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 711K | 634K | 16.31M | 31.7M |
| Total Debt | 301.8M | 440.55M | 317.02M | 378.88M | 442.82M | 63.21M | 66.6M | 67.63M | 152.28M | 88.82M | 59.54M | 70.74M | 32.03M | 29.5M | 34.36M |
| Net Debt | 172.97M | 373.35M | 255.78M | 248.98M | 384.58M | -179.1M | -106.37M | -76.37M | 111.63M | -33.18M | -147.82M | -195.41M | -13.5M | -43.04M | -89.32M |
| Long-Term Debt | 59.21M | 95.46M | 59.07M | 58.96M | 58.84M | 58.73M | 58.3M | 58.13M | 57.95M | 57.78M | 57.6M | 69.38M | 21.49M | 21.63M | 21.75M |
| Short-Term Debt | 200M | 308.8M | 238.96M | 314.17M | 378.08M | 0 | 0 | 0 | 93.46M | 30M | 729K | 0 | 10.53M | 7.88M | 12.6M |
| Other Liabilities | 4.41B | 3.31B | 70.83M | 64.1M | 0 | 0 | 0 | 0 | 24.2M | 0 | 0 | -711K | 13.26M | 0 | 0 |
| Total Current Liabilities | 200M | 308.8M | 4.62B | 3.41B | 3.36B | 2.97B | 2.62B | 2B | 1.9B | 1.9B | 1.82B | 1.49B | 1.28B | 1.21B | 1.16B |
| Total Non-Current Liabilities | 4.51B | 3.44B | 148.89M | 128.81M | 64.75M | 63.21M | 66.6M | 67.63M | 83.02M | 58.82M | 58.81M | 70.03M | 34.75M | 21.63M | 21.75M |
| Total Liabilities | 4.71B | 4.67B | 4.77B | 3.54B | 3.42B | 3.03B | 2.68B | 2.07B | 1.98B | 1.96B | 1.88B | 1.56B | 1.32B | 1.23B | 1.18B |
| Total Equity | 574.69M | 564.93M | 495.41M | 369.13M | 356.87M | 359.4M | 330.16M | 285.73M | 196.95M | 180.57M | 168.78M | 182.82M | 171.09M | 153.31M | 141.28M |
| Equity Growth % | 111.13% | 14.03% | 34.21% | 3.43% | -0.7% | 8.86% | 15.55% | 45.07% | 9.07% | 6.98% | -7.68% | 6.86% | 11.59% | 8.51% | - |
| Equity / Assets (Capital Ratio) | 10.87% | 10.8% | 9.42% | 9.45% | 9.44% | 10.59% | 10.96% | 12.12% | 9.04% | 8.45% | 8.23% | 10.48% | 11.5% | 11.1% | 10.68% |
| Return on Equity (ROE) | 4.87% | 3.29% | 4.11% | 3.22% | 11.17% | 15.28% | 14.51% | 12.24% | 13.7% | 8.59% | 7.98% | 9.67% | 12.81% | 13.76% | 11.51% |
| Book Value per Share | 22.63 | 21.98 | 23.24 | 18.33 | 18.90 | 20.55 | 18.93 | 18.93 | 14.01 | 12.89 | 12.06 | 13.11 | 12.29 | 11.14 | 10.40 |
| Tangible BV per Share | 18.02 | 17.35 | 16.79 | 15.05 | 15.08 | 17.49 | 15.60 | 15.65 | 10.14 | 8.67 | 7.43 | 11.28 | 10.44 | 11.14 | 10.40 |
| Common Stock | 25.21M | 25.41M | 25.34M | 19.73M | 19.99M | 17.21M | 17.13M | 17.05M | 13.78M | 13.7M | 13.53M | 13.43M | 13.35M | 26.58M | 24.17M |
| Additional Paid-in Capital | 266.02M | 271.61M | 269.71M | 150.34M | 155.09M | 92.88M | 90.24M | 88.65M | 27.74M | 26.04M | 23.88M | 42.62M | 41.09M | 0 | 0 |
| Retained Earnings | 287.7M | 270.07M | 273.72M | 272.7M | 280.43M | 253.57M | 212.16M | 178.09M | 159.04M | 141.96M | 133.31M | 125.7M | 115.26M | 109.84M | 94.62M |
| Accumulated OCI | -4.24M | -2.16M | -73.37M | -73.66M | -98.64M | -4.25M | 10.64M | 1.94M | -3.6M | -1.13M | -1.94M | 1.05M | 1.37M | 209K | 4.85M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Preferred Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 20K | 20K | 20M | 20M |
Securities Portfolio Duration Risk
According to recent financial statements, Alerus Financial Corporation has grown its total assets from $3.9 billion in 2023Q4 to $5.3 billion in 2026Q1, a trend primarily driven by a significant expansion of the investment securities portfolio rather than organic loan book growth.
The shift toward a larger securities portfolio suggests a defensive posture, potentially reflecting management's caution regarding regional credit demand or a strategic move to lock in yields. Investors should monitor whether this asset mix shift provides the necessary interest income to offset the high fixed-cost base inherent in the firm's retirement services segment.
Based on reported figures, the equity-to-assets ratio has remained relatively stable, moving from 0.09 in 2023Q4 to 0.11 in 2026Q1, indicating that the bank has successfully maintained its capital buffer even as it expanded its balance sheet by over $1.4 billion during the same period.
This capital adequacy profile appears sufficient to support current operations, though the modest ratio suggests limited room for aggressive balance sheet expansion without further capital raises. The firm's ability to maintain this ratio while navigating earnings volatility suggests a disciplined approach to capital preservation.
As reported in quarterly filings, the bank's liquidity is heavily concentrated in investment securities, which totaled $4.8 billion in 2026Q1, while cash and cash equivalents remained a smaller component of the overall asset base at approximately $128.8 million during the same period.
This reliance on securities for liquidity may expose the firm to market-to-market volatility if interest rates remain elevated or shift unexpectedly. The concentration in securities rather than cash suggests that the bank's liquidity position is sensitive to the duration and credit quality of its bond portfolio.
Based on the provided data, the bank's significant investment in securities, which grew from $3.5 billion in 2023Q4 to $4.8 billion in 2026Q1, warrants further investigation into potential unrealized losses that may be impacting the firm's tangible common equity and overall capital flexibility.
The substantial allocation to securities relative to total assets suggests a potential duration mismatch that could pressure the net interest margin if funding costs remain sticky. Investors should monitor the composition of this portfolio, as any significant decline in market value could necessitate a reclassification of assets or impact future regulatory capital ratios.
Quick answers to the most common questions about buying ALRS stock.
As of 2025, Alerus Financial Corporation (ALRS) had total assets of $5.23B including $88.9M in current assets.
Alerus Financial Corporation (ALRS) carries total debt of $440.5M. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Alerus Financial Corporation (ALRS) has total shareholders' equity (book value) of $564.9M ($21.98 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Alerus Financial Corporation (ALRS) reported a current ratio of 0.29x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.