Alerus Financial Corporation Announces Fourth Quarter 2023 Results, Including Balance Sheet Repositioning

MINNEAPOLIS--(BUSINESS WIRE)--Alerus Financial Corporation (Nasdaq: ALRS), or the Company, reported net loss of $14.8 million for the fourth quarter of 2023, or ($0.73) per diluted common share, compared to net income of $9.2 million, or $0.45 per diluted common share, for the third quarter of 2023, and net income of $10.9 million, or $0.53 per diluted common share, for the fourth quarter of 2022. During the fourth quarter of 2023, the Company sold $172.3 million of available-for-sale (AFS) securities in ...