Docoh
Loading...

ALRS Alerus Financial

Alerus Financial Corporation, marketed as simply Alerus, is a chain of financial institutions headquartered in Grand Forks, North Dakota, with locations in North Dakota, Minnesota and Arizona. Alerus offers banking, mortgage, wealth management, and retirement services. Alerus Financial's history dates back to August 29, 1879, with the formation of the Bank of Grand Forks by Mr. S. S. Titus. The bank was the second bank chartered in Dakota Territory. At the time, the bank was located in the back of a smokehouse on South Third Street in downtown Grand Forks. The bank quickly outgrew its building and moved into a new brick structure at the corner of South Third Street and Kittson Avenue.

Company profile

Ticker
ALRS
Exchange
Website
CEO
Randy L. Newman
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
Former names
FIRST NATIONAL CORP NORTH DAKOTA
SEC CIK
IRS number
450375407

ALRS stock data

(
)

Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

12 Mar 21
13 Apr 21
31 Dec 21
Quarter (USD)
Dec 20 Sep 20 Jun 20 Mar 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Dec 20 Dec 19
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from company earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 172.96M 172.96M 172.96M 172.96M 172.96M 172.96M
Cash burn (monthly) (positive/no burn) (positive/no burn) (positive/no burn) (positive/no burn) 208.33K 1.92M
Cash used (since last report) n/a n/a n/a n/a 719.65K 6.62M
Cash remaining n/a n/a n/a n/a 172.24M 166.35M
Runway (months of cash) n/a n/a n/a n/a 826.8 86.9

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
26 Feb 21 Ann McConn Common Stock Gift Dispose G No No 0 2,000 0 50,625
22 Feb 21 Ann McConn Common Stock Payment of exercise Dispose F No No 28.37 1,680 47.66K 52,617
22 Feb 21 Ann McConn Common Stock Grant Aquire A No No 0 6,414 0 54,297
22 Feb 21 Katie A Lorenson Common Stock Grant Aquire A No No 0 4,934 0 20,224
22 Feb 21 Randy L Newman Common Stock Payment of exercise Dispose F No No 28.37 4,739 134.45K 482,891
22 Feb 21 Randy L Newman Common Stock Grant Aquire A No No 0 18,092 0 487,630
22 Feb 21 Randy L Newman Common Stock Payment of exercise Dispose F No No 28.37 5,011 142.16K 482,619

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

43.0% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 59 54 +9.3%
Opened positions 8 5 +60.0%
Closed positions 3 10 -70.0%
Increased positions 20 20
Reduced positions 16 13 +23.1%
13F shares
Current Prev Q Change
Total value 3.49B 2.47B +41.0%
Total shares 7.46M 6.26M +19.2%
Total puts 0 0
Total calls 0 0
Total put/call ratio
Largest owners
Shares Value Change
Alerus Financial Na 2.03M $55.64M -2.3%
Alerus Financial Corp Employee Stock Ownership Plan 1.17M $32.04M NEW
BLK Blackrock 825.02K $22.58M +6.5%
Vanguard 434.29K $11.89M +12.5%
Endeavour Capital Advisors 367.11K $10.05M -16.6%
GS Goldman Sachs 342.85K $9.38M -2.3%
STT State Street 273.18K $7.51M +20.6%
NTRS Northern Trust 214.13K $5.86M -2.6%
Banc Funds 208K $5.69M -3.3%
Brown Advisory 201K $5.5M +0.2%
Largest transactions
Shares Bought/sold Change
Alerus Financial Corp Employee Stock Ownership Plan 1.17M +1.17M NEW
Endeavour Capital Advisors 367.11K -73.33K -16.6%
M3F 146.69K -72.29K -33.0%
BLK Blackrock 825.02K +50.07K +6.5%
Vanguard 434.29K +48.17K +12.5%
Alerus Financial Na 2.03M -48.07K -2.3%
STT State Street 273.18K +46.74K +20.6%
Cetera Investment Advisers 41.21K +41.21K NEW
MS Morgan Stanley 49.6K +33.28K +204.0%
California Public Employees Retirement System 32.3K +32.3K NEW

Financial report summary

?
Risks
  • COVID-19 Pandemic-Related Risks
  • The outbreak of the Coronavirus Disease 2019, or COVID-19, has led to an economic recession and had other severe effects on the U.S. economy and has disrupted our operations. The ongoing COVID-19 pandemic has also adversely impacted certain industries in which our clients operate and impaired their ability to fulfill their financial obligations to us. The ultimate impact of the COVID-19 pandemic on our business remains uncertain but may have a material and adverse effect on our business, financial condition, results of operations and growth prospects.
  • The U.S. government and banking regulators, including the Federal Reserve, have taken a number of unprecedented actions in response to the COVID-19 pandemic, which could ultimately have a material adverse effect on our business and results of operations.
  • COVID-19 has disrupted banking and other financial activities in the areas in which we operate and could potentially create widespread business continuity issues for us.
  • As a participating lender in the PPP, we are subject to additional risks of litigation from our clients or other parties regarding our processing of loans for the PPP and risks that the SBA may not fund some or all PPP loan guarantees.
Management Discussion
  • Net income for the year ended December 31, 2020 was $44.7 million, an increase of $15.1 million, or 51.2%, compared to $29.5 million for the year ended December 31, 2019. Diluted earnings per common share were $2.52 in 2020, compared to $1.91 for 2019. Return on average total assets was 1.61% in 2020, compared to 1.34% for 2019. The
  • increase in net income was primarily due to an increase of $35.2 million in noninterest income and an increase of $9.3 million in net interest income. The increase in noninterest income was primarily driven by an increase in mortgage banking revenue and the increase in net interest income was primarily due to a $6.5 million decrease in interest expense along with a $2.4 million increase in interest income from investment securities. These improvements were partially offset by a $21.3 million, or 14.9%, increase in noninterest expense driven by a $15.2 million increase in compensation expense, $2.7 million in business services, software and technology expense, and $2.2 million in mortgage and lending expenses. The increases in compensation and mortgage and lending expenses were directly correlated to the increase in mortgage banking revenue as mortgage originations totaled $1.8 billion for the year. The provision for loan losses increased $3.6 million in 2020 compared to 2019, as concerns regarding an economic slowdown related to COVID-19 increased qualitative factors.
  • Net interest income totaled $83.8 million in 2020, an increase of $9.3 million, or 12.5%, from 2019. Net interest margin decreased 43 basis points to 3.22%, in 2020, from the 3.65% reported in 2019. The decrease in net interest margin was primarily a result of an 87 basis point decrease in the average yield on interest earning assets which was partially offset by a corresponding decrease of 60 basis points in the average rate paid on interest-bearing liabilities. These decreases were largely driven by a historically low interest rate environment as the Federal Open Market Committee decreased the target fed funds rate 150 basis points in reaction to the economic impact related to COVID-19. Also contributing to the decrease in net interest margin was a shift in balance sheet mix with a higher percentage of average balances in lower yielding deposits with banks and investment securities. The increase in these balances was due to an influx of liquidity from PPP loans, government stimulus and market uncertainty.
Content analysis
?
Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. sophomore Avg