Breaking News

Over a month ago
Show Full Stories

X

To view all stories in expanded form, please subscribe.
Send Info
Earnings
Alerus Financial reports Q1 EPS 86c, consensus 63c » 16:00
04/28/21
04/28
16:00
04/28/21
16:00
ALRS

Alerus Financial

$28.98 /

-1.42 (-4.67%)

Chairman, President, and…

Chairman, President, and Chief Executive Officer Randy Newman said, "We are pleased to report our record performance of 2020 carried through into the first quarter of 2021. We believe Alerus continues to be well positioned for growth with our diversified business model, large and growing client base, and holistic, advisor-focused approach to serving clients. We started 2021 with several hiring initiatives and were pleased to have two high performing mortgage bankers join our Twin Cities team in the first quarter. We continue to focus on adding talent to our organization, especially in areas that will grow revenue."

ShowHide Related Items >><<
ALRS Alerus Financial
$28.98 /

-1.42 (-4.67%)

ALRS Alerus Financial
$28.98 /

-1.42 (-4.67%)

06/17/20
Fly Intel: Top five analyst downgrades
06/17/20 Raymond James
Alerus Financial downgraded to Market Perform at Raymond James on valuation
06/17/20 Raymond James
Alerus Financial downgraded to Market Perform from Outperform at Raymond James
Over a quarter ago
Hot Stocks
Alerus Financial announces board approves 770,000 share repurchase program » 17:03
02/22/21
02/22
17:03
02/22/21
17:03
ALRS

Alerus Financial

$28.63 /

+0.85 (+3.06%)

Alerus Financial…

Alerus Financial announced that its board of directors declared a regular quarterly cash dividend of 15c per common share. The dividend is payable on April 9, to shareholders of record as of close of business on March 19. The Company also announced that its board of directors approved a stock repurchase program which authorizes the Company to repurchase up to 770,000 shares of its common stock, subject to certain limitations and conditions. The Program is effective immediately and will continue for a period ending on February 18, 2024. The Program does not obligate the Company to repurchase any shares of its common stock and there is no assurance that the Company will do so. Based on market conditions, repurchases will generally be made from time to time in the open market. "We believe the stock repurchase program will allow us to effectively manage capital while also enhancing shareholder value," said Chairman, President, and Chief Executive Officer Randy Newman.

ShowHide Related Items >><<
ALRS Alerus Financial
$28.63 /

+0.85 (+3.06%)

ALRS Alerus Financial
$28.63 /

+0.85 (+3.06%)

06/17/20
Fly Intel: Top five analyst downgrades
06/17/20 Raymond James
Alerus Financial downgraded to Market Perform at Raymond James on valuation
06/17/20 Raymond James
Alerus Financial downgraded to Market Perform from Outperform at Raymond James
Hot Stocks
Alerus Financial completes acquisition of Retirement Planning Services » 14:33
12/18/20
12/18
14:33
12/18/20
14:33
ALRS

Alerus Financial

$28.00 /

+0.61 (+2.23%)

Alerus Financial…

Alerus Financial Corporation announced it has completed its previously announced acquisition of Retirement Planning Services, which does business as RPS Plan Administrators and 24HourFlex. The transaction increases Alerus' assets under administration/management to approximately $31.5B. Terms of the transaction are not being released. The all-cash transaction is anticipated to be immediately accretive to Alerus' GAAP earnings per share, adding an estimated 8c in 2021 and 13c in 2022.

ShowHide Related Items >><<
ALRS Alerus Financial
$28.00 /

+0.61 (+2.23%)

ALRS Alerus Financial
$28.00 /

+0.61 (+2.23%)

06/17/20
Fly Intel: Top five analyst downgrades
06/17/20 Raymond James
Alerus Financial downgraded to Market Perform at Raymond James on valuation
06/17/20 Raymond James
Alerus Financial downgraded to Market Perform from Outperform at Raymond James
ALRS Alerus Financial
$28.00 /

+0.61 (+2.23%)

Hot Stocks
Alerus to acquire Retirement Planning Services, terms not disclosed » 16:01
12/02/20
12/02
16:01
12/02/20
16:01
ALRS

Alerus Financial

$25.00 /

+0.32 (+1.30%)

Alerus Financial…

Alerus Financial Corporation announced it has entered into a definitive agreement to acquire Retirement Planning Services, which does business as RPS Plan Administrators and 24HourFlex. RPS provides retirement and health benefits administration for more than 1,000 plans, 48,000 plan participants, 300 COBRA clients, and 10,000 COBRA members, and brings more than 30 years of experience to Alerus' robust retirement and health benefits services division. RPS is based in Littleton, Colorado, which expands Alerus' geographic footprint to the Rocky Mountain region. Alerus is a leading independent provider of retirement and benefit administration services. This transaction represents the company's eleventh acquisition in the retirements and benefits vertical since 2003 and builds Alerus' health benefits scale in a consolidating industry. The transaction is expected to be completed December 18, 2020, and will increase Alerus' assets under administration/management to approximately $31.5B. Terms of the transaction will not be released. The all-cash transaction is anticipated to be immediately accretive to Alerus' GAAP earnings per share, adding an estimated 8c in 2021 and 13c in 2022. Consistent with prior retirement services acquisitions, a substantial portion of the premium paid will be allocated to a customer account intangible and amortized up to 10 years, contributing to a cash-GAAP earnings difference while restoring the tangible equity utilized to complete the acquisition.

ShowHide Related Items >><<
ALRS Alerus Financial
$25.00 /

+0.32 (+1.30%)

06/17/20
Fly Intel: Top five analyst downgrades
06/17/20 Raymond James
Alerus Financial downgraded to Market Perform at Raymond James on valuation
06/17/20 Raymond James
Alerus Financial downgraded to Market Perform from Outperform at Raymond James
ALRS Alerus Financial
$25.00 /

+0.32 (+1.30%)

Syndicate
Alerus Financial files $125M mixed securities shelf  16:20
09/16/20
09/16
16:20
09/16/20
16:20
ALRS

Alerus Financial

$22.60 /

+0.04 (+0.18%)

 
ShowHide Related Items >><<
ALRS Alerus Financial
$22.60 /

+0.04 (+0.18%)

06/17/20
Fly Intel: Top five analyst downgrades
06/17/20 Raymond James
Alerus Financial downgraded to Market Perform at Raymond James on valuation
06/17/20 Raymond James
Alerus Financial downgraded to Market Perform from Outperform at Raymond James
10/08/19 DA Davidson
Alerus Financial initiated with a Neutral at DA Davidson
ALRS Alerus Financial
$22.60 /

+0.04 (+0.18%)

Earnings
Alerus Financial reports Q2 EPS 65c, consensus 31c » 16:15
07/28/20
07/28
16:15
07/28/20
16:15
ALRS

Alerus Financial

$19.17 /

-0.05 (-0.26%)

Reports Q2 net interest…

Reports Q2 net interest margin 3.14% vs. 3.35% in Q1 and 3.62% last year. The provision for loan losses for the second quarter of 2020 was $3.5 million, an increase of $1.0 million from the first quarter of 2020 and an increase of $1.7 million from the second quarter of 2019. The increase in provision expense was due to allocations of reserves for the economic uncertainties related to the novel coronavirus, or COVID-19, which increased the allowance for loan losses balance by $3.3 million to $27.3 million, a 13.9% increase from December 31, 2019. CEO Randy Newman said, "We are proud to report record quarterly net income of $11.5 million. This strong financial performance, driven by our diversified business model, included record quarterly mortgage originations of $431.6 million, an increase in deposits of over $481.8 million in the first half of 2020, and steady performance across our wealth management and retirement and benefit divisions. Despite a challenging and uncertain economy, we continue to focus on serving the holistic financial needs of our consumer and business clients, as evidenced by our ability to fund 1,580 Paycheck Protection Program loans totaling approximately $362.7 million or approximately 18% of our loan portfolio. In light of the ongoing COVID-19 pandemic and recessionary economic environment, we remain focused on credit quality and are analyzing and assessing the potential impacts on our portfolio at a granular level. Great uncertainty remains and although we are not currently observing credit deterioration in our loan portfolio, we are committed to managing our balance sheet for long term success by increasing our provision expense and building reserves."

ShowHide Related Items >><<
ALRS Alerus Financial
$19.17 /

-0.05 (-0.26%)

ALRS Alerus Financial
$19.17 /

-0.05 (-0.26%)

06/17/20
Fly Intel: Top five analyst downgrades
06/17/20 Raymond James
Alerus Financial downgraded to Market Perform at Raymond James on valuation
06/17/20 Raymond James
Alerus Financial downgraded to Market Perform from Outperform at Raymond James
10/08/19 DA Davidson
Alerus Financial initiated with a Neutral at DA Davidson
ALRS Alerus Financial
$19.17 /

-0.05 (-0.26%)

  • 13
    Sep

Get Full Fly Access

Breaking market intelligence sent straight to you
Our team of experts analyze every news story and filter out the noise to deliver real-time market moving news.
Up-to-date information on important industry events
Get real-time updates on events that are moving the market—from conferences and calls to syndicate announcements.
News focused on the companies in your portfolio
Create up to 12 portfolios with 150 stocks each, and see how active they are in market news.