GRAND FORKS, N.D. (AP) — GRAND FORKS, N.D. (AP) — Alerus Financial Corporation (ALRS) on Monday reported first-quarter earnings of $13.3 million.
On a per-share basis, the Grand Forks, North Dakota-based company said it had net income of 52 cents. Earnings, adjusted for non-recurring costs, came to 56 cents per share.
The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 43 cents per share.
The company posted revenue of $95.8 million in the period. Its adjusted revenue was $69 million.
Alerus shares have fallen nearly 8% since the beginning of the year. In the final minutes of trading on Monday, shares hit $17.76, a drop of 13% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ALRS at https://www.zacks.com/ap/ALRS
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