Alerus Financial (ALRS) Revenue & Revenue Breakdown
Alerus Financial Revenue Highlights
Latest Revenue (Y)
$245.11M
Latest Revenue (Q)
$80.39M
Main Segment (Y)
Retirement and Benefit Services
Alerus Financial Revenue by Period
Alerus Financial Revenue by Year
| Date | Revenue | Change |
|---|---|---|
| 2023-12-31 | $245.11M | 17.41% |
| 2022-12-31 | $208.77M | -9.32% |
| 2021-12-31 | $230.24M | 0.90% |
| 2020-12-31 | $228.18M | 22.75% |
| 2019-12-31 | $185.89M | 5.73% |
| 2018-12-31 | $175.82M | 10.09% |
| 2017-12-31 | $159.71M | 2.93% |
| 2016-12-31 | $155.16M | 13.48% |
| 2015-12-31 | $136.73M | 11.61% |
| 2014-12-31 | $122.50M | 1.65% |
| 2013-12-31 | $120.52M | -5.39% |
| 2012-12-31 | $127.38M | 30.86% |
| 2011-12-31 | $97.34M | 10.24% |
| 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
| Date | Revenue | Change |
|---|---|---|
| 2024-06-30 | $80.39M | 8.42% |
| 2024-03-31 | $74.15M | 63.02% |
| 2023-12-31 | $45.49M | -5.46% |
| 2023-09-30 | $48.11M | 0.66% |
| 2023-06-30 | $47.80M | -1.27% |
| 2023-03-31 | $48.41M | -6.67% |
| 2022-12-31 | $51.88M | -5.54% |
| 2022-09-30 | $54.92M | 6.59% |
| 2022-06-30 | $51.52M | 2.11% |
| 2022-03-31 | $50.46M | -9.93% |
| 2021-12-31 | $56.02M | 0.14% |
| 2021-09-30 | $55.94M | -1.32% |
| 2021-06-30 | $56.69M | -7.95% |
| 2021-03-31 | $61.59M | 2.17% |
| 2020-12-31 | $60.28M | -8.38% |
| 2020-09-30 | $65.79M | 15.16% |
| 2020-06-30 | $57.13M | 27.00% |
| 2020-03-31 | $44.98M | -4.55% |
| 2019-12-31 | $47.13M | -0.80% |
| 2019-09-30 | $47.51M | -1.58% |
| 2019-06-30 | $48.27M | 10.35% |
| 2019-03-31 | $43.75M | -2.43% |
| 2018-12-31 | $44.84M | 0.19% |
| 2018-09-30 | $44.75M | 1.00% |
| 2018-06-30 | $44.31M | 5.69% |
| 2018-03-31 | $41.92M | -3.30% |
| 2017-12-31 | $43.35M | 6.26% |
| 2017-09-30 | $40.80M | -1.40% |
| 2017-06-30 | $41.38M | 12.29% |
| 2017-03-31 | $36.85M | -9.98% |
| 2016-12-31 | $40.93M | 6.78% |
| 2016-09-30 | $38.33M | -3.27% |
| 2016-06-30 | $39.63M | 9.29% |
| 2016-03-31 | $36.26M | 8.82% |
| 2015-12-31 | $33.32M | -4.22% |
| 2015-09-30 | $34.79M | -4.04% |
| 2015-06-30 | $36.26M | 12.03% |
| 2015-03-31 | $32.36M | -5.77% |
| 2014-12-31 | $34.34M | 1.26% |
| 2014-09-30 | $33.92M | 10.53% |
| 2013-12-31 | $30.68M | - |
Alerus Financial generated $80.39M in revenue during Q2 2024, up 8.42% compared to the previous quarter, and up 166.05% compared to the same period a year ago.
Alerus Financial Revenue Breakdown
Alerus Financial Revenue Breakdown by Product
Annual Revenue by Product
| Product/Service | Dec 23 | Dec 22 | Dec 21 | Dec 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/Service | Mar 24 | Dec 23 | Jun 23 | Mar 23 | Dec 22 | Sep 22 | Jun 22 | Mar 22 | Dec 21 | Sep 21 | Jun 21 | Mar 21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Service charges on deposit accounts | $389.00K | - | - | - | - | - | - | - | - | - | - | - |
| Retirement and benefit services | $15.65M | - | - | - | - | - | - | - | - | - | - | - |
| Wealth management | $6.12M | - | - | - | - | - | - | - | - | - | - | - |
| Deposit Account | - | $668.00K | $311.00K | $301.00K | $282.00K | $377.00K | $412.00K | $363.00K | $370.00K | $357.00K | $330.00K | $338.00K |
| Wealth Management | - | $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 | - | $33.92M | $15.89M | $15.48M | $16.60M | $16.60M | $16.29M | $17.65M | $18.55M | - | - | - |
| Retirement And Benefit Services | - | - | - | - | - | - | - | - | - | $18.03M | $17.87M | $17.25M |
Alerus Financial's latest quarterly revenue breakdown by segment (product or service), as of Mar 24: Retirement and benefit services (70.64%), Wealth management (27.61%), and Service charges on deposit accounts (1.76%).
Alerus Financial Peer Comparison by Revenue
| Ticker | Company | Last Year Revenue | Last Quarter Revenue |
|---|---|---|---|
| HFWA | Heritage Financial | $303.13M | $81.83M |
| ALRS | Alerus Financial | $245.11M | $80.39M |
| CIVB | Civista Bancshares | $219.90M | $61.14M |
| NECB | Northeast Community Bancorp | $135.86M | $40.96M |
| BCAL | Southern California Bancorp | $126.90M | $33.04M |
| BAFN | BayFirst Financial | $102.55M | $28.88M |
| FNWD | Finward Bancorp | $96.53M | $24.70M |
| FFNW | First Financial Northwest | $80.93M | $20.02M |
| CWBC | Community West Bancshares | $61.39M | $27.26M |
| FCAP | First Capital | $51.24M | $14.24M |
| AFBI | Affinity Bancshares | $45.17M | $12.93M |
| HMNF | HMN Financial | $43.48M | $14.79M |
| HVBC | HV Bancorp | $25.74M | $6.58M |
| HFBL | Home Federal Bancorp, Inc. of Louisiana | $23.45M | $8.40M |
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 Q2 2024 was $80.39M, a 8.42% increase from the previous quarter (Q1 2024), and a 68.20% increase year-over-year (Q2 2023). The company'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). ALRS's quarterly revenue for Q4 2023 was $45.49M, a -5.46% decrease from the previous quarter (Q3 2023), and a -12.32% decrease year-over-year (Q4 2022).
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.