Alerus Financial Corporation has reported its financial results for the second quarter of 2025, showing significant improvements in various key metrics compared to the previous periods.
Net income for the second quarter of 2025 was reported at $20.3 million, a substantial increase from $13.3 million in the first quarter of 2025 and $6.2 million in the second quarter of 2024. This represents a sequential increase of 52.6% and a year-over-year increase of 227.4%.
Earnings per diluted common share also saw a notable increase, reaching $0.78 in the second quarter of 2025, compared to $0.52 in the first quarter of 2025 and $0.31 in the second quarter of 2024, marking a 50% sequential increase and a 151.6% year-over-year increase.
Adjusted net income for the second quarter of 2025 was $18.6 million, up 29.9% from $14.4 million in the first quarter of 2025, reflecting continued growth and improvement.
Net interest income increased by 4.6% from the first quarter of 2025, reaching $43.0 million. The net interest margin also saw an increase of 10 basis points, reaching 3.51% in the second quarter of 2025.
Noninterest income for the second quarter of 2025 increased by 15.0% from the first quarter of 2025, reaching $31.8 million, driven primarily by increases in mortgage banking and gain on sale of non-mortgage loans.
The company's efficiency ratio improved to 60.7% in the second quarter of 2025, compared to 66.9% in the first quarter of 2025, showcasing improved operational efficiency.
Alerus Financial Corporation also increased its quarterly dividend by 5.00% over the first quarter of 2025, marking the 39th consecutive year of dividend increases.
The company's tangible book value per common share saw an increase of 5.5% from the first quarter of 2025, reaching $16.11 as of June 30, 2025.
Today the company's shares have moved 6.61% to a price of $23.155. For the full picture, make sure to review ALERUS FINANCIAL CORP's 8-K report.
