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Alerus Financial (ALRS) Revenue & Revenue Breakdown

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Alerus Financial Revenue Highlights

Latest Revenue (Y)

$245.11M

Latest Revenue (Q)

$80.58M

Main Segment (Y)

Retirement and Benefit Services

Alerus Financial Revenue by Period

Alerus Financial Revenue by Year

DateRevenueChange
2023-12-31$245.11M17.41%
2022-12-31$208.77M-9.32%
2021-12-31$230.24M0.90%
2020-12-31$228.18M22.75%
2019-12-31$185.89M5.73%
2018-12-31$175.82M10.09%
2017-12-31$159.71M2.93%
2016-12-31$155.16M13.48%
2015-12-31$136.73M11.61%
2014-12-31$122.50M1.65%
2013-12-31$120.52M-5.39%
2012-12-31$127.38M30.86%
2011-12-31$97.34M10.24%
2010-12-31$88.30M-

Alerus Financial generated $245.11M in revenue during NA 2023, up 17.41% compared to the previous quarter, and up 139.41% compared to the same period a year ago.

Alerus Financial Revenue by Quarter

DateRevenueChange
2024-09-30$80.58M0.63%
2024-06-30$80.07M7.99%
2024-03-31$74.15M63.02%
2023-12-31$45.49M-5.46%
2023-09-30$48.11M0.66%
2023-06-30$47.80M-1.27%
2023-03-31$48.41M-6.67%
2022-12-31$51.88M-5.54%
2022-09-30$54.92M6.59%
2022-06-30$51.52M2.11%
2022-03-31$50.46M-9.93%
2021-12-31$56.02M0.14%
2021-09-30$55.94M-1.32%
2021-06-30$56.69M-7.95%
2021-03-31$61.59M2.17%
2020-12-31$60.28M-8.38%
2020-09-30$65.79M15.16%
2020-06-30$57.13M27.00%
2020-03-31$44.98M-4.55%
2019-12-31$47.13M-0.80%
2019-09-30$47.51M-1.58%
2019-06-30$48.27M10.35%
2019-03-31$43.75M-2.43%
2018-12-31$44.84M0.19%
2018-09-30$44.75M1.00%
2018-06-30$44.31M5.69%
2018-03-31$41.92M-3.30%
2017-12-31$43.35M6.26%
2017-09-30$40.80M-1.40%
2017-06-30$41.38M12.29%
2017-03-31$36.85M-9.98%
2016-12-31$40.93M6.78%
2016-09-30$38.33M-3.27%
2016-06-30$39.63M9.29%
2016-03-31$36.26M8.82%
2015-12-31$33.32M-4.22%
2015-09-30$34.79M-4.04%
2015-06-30$36.26M12.03%
2015-03-31$32.36M-5.77%
2014-12-31$34.34M1.26%
2014-09-30$33.92M10.53%
2013-12-31$30.68M-

Alerus Financial generated $80.58M in revenue during Q3 2024, up 0.63% compared to the previous quarter, and up 168.58% compared to the same period a year ago.

Alerus Financial Revenue Breakdown

Alerus Financial Revenue Breakdown by Product

Annual Revenue by Product

Product/ServiceDec 23Dec 22Dec 21Dec 20
Interchange Fees$2.22M$2.25M$2.18M$2.14M
Other Noninterest$3.50M$353.00K$413.00K$994.00K
Retirement and Benefit Services$65.29M$67.14M$71.71M-
Wealth Management$21.86M$20.87M$21.05M$17.45M
Transactional Fees$1.43M$1.43M$1.22M$1.25M
Deposit Account$1.28M$1.43M$1.40M$1.41M
Retirement And Benefit Services---$60.96M

Alerus Financial's latest annual revenue breakdown by segment (product or service), as of Dec 23: Retirement and Benefit Services (68.31%), Wealth Management (22.86%), Other Noninterest (3.66%), Interchange Fees (2.32%), Transactional Fees (1.50%), and Deposit Account (1.34%).

Quarterly Revenue by Product

Product/ServiceSep 24Mar 24Dec 23Jun 23Mar 23Dec 22Sep 22Jun 22Mar 22Dec 21Sep 21Jun 21Mar 21
Deposit Account$488.00K$668.00K$311.00K$301.00K$282.00K$377.00K$412.00K$363.00K$370.00K$357.00K$330.00K$338.00K-
Wealth Management$6.68M$11.21M$5.45M$5.19M$5.14M$4.85M$5.55M$5.33M$5.63M$5.29M$5.14M$4.99M-
Retirement and Benefit Services$16.14M$33.92M$15.89M$15.48M$16.60M$16.60M$16.29M$17.65M$18.55M----
Mortgage Banking$2.57M------------
Service charges on deposit accounts-$389.00K-----------
Retirement and benefit services-$15.65M-----------
Wealth management-$6.12M-----------
Retirement And Benefit Services----------$18.03M$17.87M$17.25M

Alerus Financial's latest quarterly revenue breakdown by segment (product or service), as of Sep 24: Retirement and Benefit Services (62.36%), Wealth Management (25.82%), Mortgage Banking (9.94%), and Deposit Account (1.88%).

Alerus Financial Peer Comparison by Revenue

TickerCompanyLast Year RevenueLast Quarter Revenue
HFWAHeritage Financial$303.13M$81.65M
ALRSAlerus Financial$245.11M$80.58M
CIVBCivista Bancshares$219.90M$61.14M
NECBNortheast Community Bancorp$135.86M$41.50M
BCALSouthern California Bancorp$126.90M$33.04M
BAFNBayFirst Financial$102.55M$30.30M
FNWDFinward Bancorp$96.53M$24.70M
FFNWFirst Financial Northwest$80.93M$20.09M
CWBCCommunity West Bancshares$61.39M$27.26M
FCAPFirst Capital$51.24M$14.24M
AFBIAffinity Bancshares$45.17M$12.87M
HMNFHMN Financial$43.48M$14.79M
HFBLHome Federal Bancorp, Inc. of Louisiana$33.45M$8.04M
HVBCHV Bancorp$25.74M$6.58M

ALRS Revenue FAQ

What is Alerus Financial’s yearly revenue?

Alerus Financial's yearly revenue for 2023 was $245.11M, representing an increase of 17.41% compared to 2022. The company's yearly revenue for 2022 was $208.77M, representing a decrease of -9.32% compared to 2021. ALRS's yearly revenue for 2021 was $230.24M, representing an increase of 0.90% compared to 2020.

What is Alerus Financial’s quarterly revenue?

Alerus Financial's quarterly revenue for Q3 2024 was $80.58M, a 0.63% increase from the previous quarter (Q2 2024), and a 67.47% increase year-over-year (Q3 2023). The company's quarterly revenue for Q2 2024 was $80.07M, a 7.99% increase from the previous quarter (Q1 2024), and a 67.53% increase year-over-year (Q2 2023). ALRS's quarterly revenue for Q1 2024 was $74.15M, a 63.02% increase from the previous quarter (Q4 2023), and a 53.16% increase year-over-year (Q1 2023).

What is Alerus Financial’s revenue growth rate?

Alerus Financial's revenue growth rate for the last 3 years (2021-2023) was 6.46%, and for the last 5 years (2019-2023) was 31.86%.

What are Alerus Financial’s revenue streams?

Alerus Financial's revenue streams in c 23 are Interchange Fees, Other Noninterest, Retirement and Benefit Services, Wealth Management, Transactional Fees, and Deposit Account. Interchange Fees generated $2.22M in revenue, accounting 2.32% of the company's total revenue, down -1.07% year-over-year. Other Noninterest generated $3.5M in revenue, accounting 3.66% of the company's total revenue, up 891.50% year-over-year. Retirement and Benefit Services generated $65.29M in revenue, accounting 68.31% of the company's total revenue, down -2.74% year-over-year. Wealth Management generated $21.86M in revenue, accounting 22.86% of the company's total revenue, up 4.72% year-over-year. Transactional Fees generated $1.43M in revenue, accounting 1.50% of the company's total revenue, up 0.28% year-over-year. Deposit Account generated $1.28M in revenue, accounting 1.34% of the company's total revenue, down -10.74% year-over-year.

What is Alerus Financial’s main source of revenue?

For the fiscal year ending Dec 23, the largest source of revenue of Alerus Financial was Retirement and Benefit Services. This segment made a revenue of $65.29M, representing 68.31% of the company's total revenue.