Revenue: As of FY2025 Q4, the actual value is USD 33.44 M.EPS: As of FY2025 Q4, the actual value is USD -1.27, missing the estimate of USD 0.5775.EBIT: As of FY2025 Q4, the actual value is USD -88.83 M.<h4>Net Income/Loss</h4>Alerus Financial Corporation reported a net loss of - $33.1 million for the fourth quarter of 2025, compared to net income of $16.9 million for the third quarter of 2025, and a net loss of - $0.1 million for the fourth quarter of 2024. For the full year 2025, the company reported diluted earnings per common share of $0.68, with adjusted diluted earnings per common share (non-GAAP) of $2.78, compared to $1.45 for the full year 2024.<h4>Operational Metrics</h4><ul><li>Return on Average Total Assets: For Q4 2025, it was -2.50%; adjusted return on average total assets (non-GAAP) was 1.62%, versus 1.28% in Q3 2025. For the full year 2025, it was 0.33%; adjusted return on average total assets (non-GAAP) was 1.35%, versus 0.69% for the full year 2024.</li><li>Return on Average Tangible Common Equity: For Q4 2025, it was -28.15%; adjusted return on average tangible common equity (non-GAAP) was 21.05%, versus 18.55% in Q3 2025. For the full year 2025, it was 6.29%; adjusted return on average tangible common equity (non-GAAP) was 19.48%, versus 11.22% in the full year 2024.</li><li>Net Interest Income: For Q4 2025, it was $45.2 million, an increase of 4.7% from $43.1 million in Q3 2025, and an 18.0% increase from $38.3 million in Q4 2024. For the full year 2025, net interest income was $172.5 million, an increase of 61.1% from $107.0 million for the year ended December 31, 2024.</li><li>Net Interest Margin (tax-equivalent): For Q4 2025, it was 3.69%, an increase from 3.50% in Q3 2025 and 3.20% in Q4 2024. For the full year 2025, it was 3.53%, an increase of 97 basis points from 2.56% for the year ended December 31, 2024.</li><li>Noninterest (Loss) Income: For Q4 2025, it was - $36.9 million, a decrease of 225.5% from Q3 2025, primarily due to a - $68.4 million loss on the sale of investment securities. Adjusted noninterest income (non-GAAP) was $31.9 million in Q4 2025, an increase of 8.3% compared to $29.5 million in Q3 2025. For the full year 2025, noninterest income was $51.9 million; adjusted noninterest income (non-GAAP) was $118.7 million, an increase of 7.0% compared to $111.0 million for the year ended December 31, 2024.</li><li>Noninterest Expense: For Q4 2025, it was $51.9 million, a 2.7% increase from $50.5 million in Q3 2025. Compared to Q4 2024, noninterest expense decreased by $8.6 million, or 14.2%.</li><li>Efficiency Ratio: For Q4 2025, it was 557.48%; adjusted efficiency ratio (non-GAAP) was 63.55%, versus 65.22% in Q3 2025. For the full year 2025, it was 84.10%; adjusted efficiency ratio (non-GAAP) was 64.45%, versus 73.45% for the full year 2024.</li><li>Pre-provision Net Revenue: For Q4 2025, it was - $43.7 million; adjusted pre-provision net revenue (non-GAAP) was $25.3 million, an increase of 14.3% from $22.1 million in Q3 2025. For the full year 2025, pre-provision net revenue was $23.1 million; adjusted pre-provision net revenue (non-GAAP) was $91.5 million, an increase of 82.0% from $50.2 million for the full year 2024.</li><li>Net Charge-offs (recoveries) to Average Loans: For Q4 2025, it was -0.03%. For the full year 2025, it was 0.05%; adjusted net recoveries to average loans (non-GAAP) was -0.02%, versus adjusted net charge-offs to average loans (non-GAAP) of 0.13% for the full year 2024.</li><li>Provision for Credit Losses: The company recorded a provision release of - $0.3 million for Q4 2025, compared to no provision for Q3 2025 and a provision of $12.0 million for Q4 2024.</li></ul><h4>Segment Revenue</h4><ul><li>Retirement and Benefit Services Income: $17.3 million for Q4 2025, an increase of 4.6% from Q3 2025. For the full year 2025, this segment generated $65.9 million, a 2.4% increase from $64.4 million in 2024.</li><li>Wealth Management Income: $7.4 million for Q4 2025, an increase of 13.4% from Q3 2025. For the full year 2025, this segment generated $28.3 million, an 8.0% increase from $26.2 million in 2024.</li></ul><h4>Unique Metrics</h4><ul><li>Assets Under Administration and Management: Retirement and benefit services assets under administration grew 2.1% over the prior quarter. Total assets under administration and management for retirement and wealth segments expanded to a combined $49.8 billion. For the full year 2025, Retirement and benefit services assets under administration grew 10.3% over the prior year-end, and Wealth management assets under management grew 5.9% over the prior year-end.</li><li>Total Assets: $5.2 billion as of December 31, 2025, a decrease of - $31.6 million, or -0.6%, from December 31, 2024.</li><li>Loans Held for Investment: $4.0 billion as of December 31, 2025, an increase of $55.5 million, or 1.4%, from December 31, 2024, driven by a $45.8 million increase in consumer loans and a $9.7 million increase in commercial loans. Total loans at the end of 2025 grew 1.4% over the prior year.</li><li>Deposits: Total deposits were $4.2 billion as of December 31, 2025, a decrease of - $186.4 million, or -4.3%, from December 31, 2024. Noninterest-bearing deposits decreased - $95.6 million and interest-bearing deposits decreased - $90.8 million from December 31, 2024.</li><li>Nonperforming Assets: Total nonperforming assets were $66.5 million as of December 31, 2025, an increase of $3.6 million, or 5.7%, from December 31, 2024.</li><li>Allowance for Credit Losses on Loans: $61.9 million, or 1.53% of total loans, as of December 31, 2025, compared to $59.9 million, or 1.50%, as of December 31, 2024.</li><li>Tangible Book Value per Common Share (non-GAAP): Increased to $17.55 as of December 31, 2025, from $14.44 as of December 31, 2024. The company achieved tangible book value growth of 21.54% from the prior year.</li><li>Tangible Common Equity to Tangible Assets Ratio (non-GAAP): Increased to 8.72% as of December 31, 2025, from 7.13% as of December 31, 2024.</li><li>Common Equity Tier 1 Capital to Risk Weighted Assets: Increased to 10.28% as of December 31, 2025, from 9.91% as of December 31, 2024.</li></ul><h4>Outlook / Guidance</h4>Alerus Financial Corporation’s strategic balance sheet repositioning is expected to position the company for higher profitability in 2026 and beyond. The company is focused on delivering positive operating leverage to drive returns and tangible book value growth. Their commitment for 2026 is to drive superior returns, strengthen long-term shareholder value, and execute with discipline and vision.

Alerus Financial | 8-K: FY2025 Q4 Revenue: USD 33.44 M