Alerus(US:ALRS)2025-10-31 16:00Financial Performance - Net interest income for 3Q 2025 was $43.1 million, a 0.2% increase from 2Q 2025[35, 38, 54] - Noninterest income was $29.4 million, representing 40.6% of revenue[35, 38, 118] - Adjusted EPS was $0.66 and adjusted ROAA was 1.28%[35, 118] - Tangible book value per share was $16.90, an increase of $0.79 from the prior quarter[35, 40, 118] Balance Sheet - Total loans reached $4.1 billion, a 1.4% increase from June 30, 2025[15, 35, 61, 118] - Total deposits amounted to $4.4 billion, a 1.7% increase from June 30, 2025[15, 35, 68, 118] - The loan to deposit ratio was 93.0%, a 0.2% decrease from the previous quarter[35, 68, 71, 118] Asset Quality and Capital Strength - Total reserves to loans were 1.51%[35, 100, 104, 118] - CET1 was 10.8%, well above bank regulatory requirements[35, 106, 118] - Net recoveries to average loans were (0.17)% for the quarter[35, 98, 104] Divisional Performance - Banking services noninterest income decreased 23.9% from 2Q 2025, primarily due to a $2.1 million gain on sale of a purchased credit deteriorated hospitality loan in 2Q 2025[75, 80] - Retirement and Benefit Services revenue increased 2.9% compared to 2Q 2025, driven by an increase in asset-based fees[85] - Wealth Advisory Services revenue decreased 10.9% from 2Q 2025, primarily due to the timing of the wealth management platform conversion and a decrease in brokerage and insurance commissions[90]