Alerus Financial (ALRS) said late Monday that it sold $360 million of available-for-sale securities, which amounted to over 68% of total AFS securities.

The transaction led to a one-time pre-tax net loss of $68.5 million, and cash proceeds from the sale were reinvested into new investment securities, the company said.

The portfolio restructuring did not affect tangible capital and will result in improved financial outcomes in 2026 and beyond, the company said.