Alerus: Q1 Earnings Snapshot

Alerus Financial Corporation (ALRS) is buying a North Dakota-based wealth management firm.

GRAND FORKS (AP). GRAND FORKS (AP). Alerus Financial Corporation reported earnings of $8.2 Million for the first quarter.

Grand Forks North Dakota-based firm said it made 40 cents profit per share.

The results exceeded Wall Street expectations. Zacks Investment Research surveyed three analysts who estimated earnings per share of 34 cents.

In the same period, the company reported revenue of $63.1 millions. The company's adjusted revenue was $48,9 million.

Alerus shares are down 40% since the start of the year. In the last minutes of Wednesday's trading, the shares reached $14.09, which represents a 44% drop in the past 12 months.

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