The earnings beat and strong revenue growth across both net interest income and fee-based businesses signal continued momentum. Watch the Q4 2026 earnings call for guidance on net interest margin trajectory and loan growth sustainability, especially given the sequential decline from Q2 2026 due to one-time items.
Price Chart
Executive Summary
Alerus Financial reported Q3 2026 diluted EPS of $0.76, above the $0.66 consensus estimate, on revenue of $81.1M (net interest income $46.7M + noninterest income $34.4M), which exceeded the $76.7M consensus. Net income of $19.2M was up from $16.9M a year ago but down from $20.9M in Q2 2026 due to a one-time interest income recovery in the prior quarter and higher provision expense. The beat was driven by 8.3% YoY net interest income growth and 16.7% noninterest income growth, with credit quality improving (nonperforming assets down 76% from year-end).
Key Financial Metrics
Key Facts
- Q3 2026 diluted EPS of $0.76 vs consensus $0.66 (beat by 15.2%)
- Revenue (net interest income + noninterest income) of $81.1M vs consensus $76.7M
- Net income $19.2M, up 13.5% from $16.9M in Q3 2025
- Net interest income $46.7M, up 8.3% YoY
- Noninterest income $34.4M, up 16.7% YoY
- Nonperforming assets fell 76% from year-end to $16.4M
- Net recoveries of $1.0M in the quarter
- Tangible book value per share up 10.9% YoY to $18.74
- Repurchased $8.2M of stock at avg $32.75 per share
Financial Impact
EPS beat consensus by $0.10 (15.2%), revenue beat by $4.4M (5.7%)
Risk Factors
- Sequential EPS decline from $0.81 in Q2 2026 to $0.76 in Q3 2026 due to one-time interest income recovery in Q2 and higher provision expense
- Net interest margin contracted 13 bps sequentially to 3.84%
- Provision for credit losses increased to $2.2M from $0.5M in Q2 2026
- OREO assets increased to $9.4M from $0.3M at year-end 2025
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3390785 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 28, 2026 2d ago | 8-K | No price | awaiting T+1 | awaiting T+1 | No price |
Oct 28, 2026 2d ago | Press Release | $33.03 $33.17 | ▲ +0.42% | ▲ +2.20% | $33.17 (+0.42%) |
Oct 1, 2026 29d ago | Press Release | $32.67 $32.40 | ▼ −0.84% | ▼ −1.52% | $33.17 (+1.53%) |
Sep 11, 2026 7w ago | EFFECT | $33.27 $33.32 | ▲ +0.15% | ▲ +0.60% | $33.17 (−0.30%) |
Sep 2, 2026 8w ago | S-3 | $33.37 $33.79 | ▲ +1.26% | ▲ +1.64% | $33.17 (−0.60%) |
Jul 29, 2026 13w ago | Press Release | $33.56 $33.27 | ▼ −0.86% | ▼ −1.57% | $33.17 (−1.16%) |
Jul 1, 2026 17w ago | Press Release | $31.11 $31.12 | ▲ +0.03% | ▼ −0.84% | $33.17 (+6.62%) |
May 22, 2026 23w ago | Press Release | $28.84 $28.71 | ▼ −0.45% | ▼ −0.46% | $33.17 (+15.01%) |
May 19, 2026 23w ago | 8-K | $27.27 $28.11 | ▲ +3.08% | ▲ +2.04% | $33.17 (+21.64%) |
Apr 1, 2026 30w ago | DEFA14A | $23.84 $24.08 | ▲ +1.01% | ▲ +0.53% | $33.17 (+39.14%) |
US Market Status
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