Alerus Financial Corporation Reports Third Quarter 2020 Net Income of $17.7 Million
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Alerus Financial Corporation (ALRS) Tops Q3 EPS by 59c
October 28, 2020 5:33 PM EDTAlerus Financial Corporation (NASDAQ: ALRS) reported Q3 EPS of $0.99, $0.59 better than the analyst estimate of $0.40.
Quarterly Highlights
Return on average assets of 2.42%, compared to 1.68% for the second quarter of 2020Return on average tangible common equity(1) of 26.67%, compared to 18.88% for the second quarter of 2020Net interest margin (tax-equivalent)(1) was 3.17%, compared to 3.14% for the second quarter of 2020Allowance for loan losses to total loans, excluding PPP loans, was 1.83%, compared to 1.62% as of June 30, 2020Efficiency ratio(1) of... More