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Alerus Financial (ALRS) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Nov 5, 2026 · Alerus Financial (ALRS) Q3 2026 earnings results →
Q3 2026 Revenue up 12% year over year to $81.1M · 24¢ of every $1 of revenue kept as net profit · operating margin 30.8%
Alerus Financial made $81.1M in Q3 2026 (+12% Y/Y): Net interest income $46.7M, Noninterest income $34.4M. Operating margin 30.8%, net earnings $19.2M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 5, 2026.
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What changed this quarter
Revenue was $81.1M in Q3 2026, up 12% year over year and up 1% from the previous quarter. Net interest income was the largest line at 58% of revenue. Noninterest income added $4.9M year over year (up 17%), 58% of the total change.
Operating profit was $25.0M, a 30.8% margin (up 0.5 points year over year). Of the extra revenue versus a year earlier, 35% reached operating profit, above the 30% margin then. Total costs grew 11% against revenue growth of 12%. Net earnings were $19.2M, up 13% year over year. The effective tax rate was 23.2%.
Operating cash flow was $51.3M (up 56% year over year), 267% of net earnings. Non-cash charges added back $3.4M of depreciation and amortization and $748K of share-based compensation. Working capital and other items added $28.0M. Capital expenditures of −$1.5M left free cash flow of $52.7M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Nov 5, 2026 | $81.1M | +12% | 30.8% | $19.2M | $51.3M |
Charts
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💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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About Alerus Financial
Alerus Financial Corporation (the “Company”) is a diversified financial services company headquartered in Grand Forks, North Dakota. Through the Company’s subsidiary, Alerus Financial, National Association (the “Bank”), the Company provides innovative and comprehensive financial solutions to businesses and consumers through three distinct business segments—banking, retirement and benefit services, and wealth. In prior periods, the Company had a fourth operating segment, mortgage. As of January 1, 2024, the mortgage division was fully integrated into the banking division to reflect the way the Company currently manages and views the business. These solutions are delivered through a relationship oriented primary point of contact along with responsive and client friendly technology.
In its own words, from its 10-K, filed Mar 4, 2026.
Alerus Financial against its National Commercial Banks peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +12% against the peers' median +8%. Operating margin: 30.8% against the peers' median 30.8%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| ALRS Alerus Financial | Q3 2026 | $81.1M | +12% | 30.8% |
| JPM JPMorgan Chase | Q3 2026 | $50.2B | +8% | 40.1% |
| BAC Bank of America | Q3 2026 | $30.0B | +3% | 29.9% |
| C Citigroup | Q3 2026 | $23.8B | +8% | 30.6% |
| WFC Wells Fargo | Q3 2026 | $21.9B | +2% | 32.5% |
| COF Capital One Financial | Q3 2026 | $16.3B | +6% | 28.0% |
| USB US Bancorp | Q3 2026 | $8.0B | +9% | 35.1% |
| PNC PNC Financial Services Group | Q3 2026 | $6.6B | +11% | 40.0% |
| TFC Truist Financial | Q3 2026 | $3.7B | -28% | 23.9% |
Source: Alerus Financial 10-Q on SEC EDGAR · CIK 903419 · National Commercial Banks
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History
Every quarter: Q3 2026 results