Alerus (ALRS) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates

Core Insights - Alerus reported revenue of $47.54 million for Q1 2024, a year-over-year decline of 2.8%, with EPS of $0.32 compared to $0.40 a year ago [1] - The revenue exceeded the Zacks Consensus Estimate by 0.30%, while the EPS surprised by 3.23% [1] Financial Performance Metrics - Net charge-offs/(recoveries) to average loans was 0%, better than the estimated 0.1% [2] - Efficiency ratio stood at 78.9%, compared to the estimated 79.6% [2] - Net interest margin (tax-equivalent) was 2.4%, slightly below the estimated 2.5% [2] - Average balance of total interest-earning assets was $3.92 billion, exceeding the estimated $3.74 billion [2] - Tax-equivalent net interest income was $22.12 million, lower than the estimated $22.63 million [2] - Total noninterest income reached $25.32 million, surpassing the estimated $24.95 million [2] - Net interest income was $22.22 million, compared to the estimated $22.42 million [2] Stock Performance - Alerus shares returned -0.7% over the past month, while the Zacks S&P 500 composite declined by -3% [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating potential performance in line with the broader market [3]