Alerus Financial Corp 2025年季度报告

Washington, DC 20549 FORM10-Q ☒QUARTERLY REPORT PURSUANT TO SECTION13 OR 15(d)OF THE SECURITIES EXCHANGEACT OF 1934 For thequarterly period endedJune 30, 2025 ☐TRANSITION REPORT PURSUANT TO SECTION13 OR 15(d)OF THE SECURITIES EXCHANGEACT OF 1934 Commission File Number:001-39036 ALERUS FINANCIAL CORPORATION Securities registered pursuant to section 12(b)of the Act: Indicate by check mark whether the registrant (1)has filed all reports required to be filed by Section13 or 15(d)of the Securities Exchange Actof 1934 during the preceding 12months (or for such shorter period that the registrant was required to file such reports), and (2)has been subjectto such filing requirements for the past 90days.Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant toRule405 of Regulation S-T (§232.405 of this chapter) during the preceding 12months (or for such shorter period that the registrant was requiredto submit such files).Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting companyor an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerginggrowth company” in Rule12b‑2 of the Exchange Act. Large accelerated filer☐Accelerated filer☒Non-accelerated filer☐Smaller reporting company☐Emerging growth company☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying withany new or revised financial accounting standards provided pursuant to Section13(a)of the Exchange Act.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule12b‑2 of the Act).Yes☐No☒ The number of shares of the registrant’s common stock outstanding atAugust 1, 2025 was25,396,307. Alerus Financial Corporation and Subsidiaries Table of Contents Part1:FINANCIAL INFORMATIONItem1.Consolidated Financial StatementsConsolidated Balance SheetsConsolidated Statements of IncomeConsolidated Statements of Comprehensive IncomeConsolidated Statements of Changes in Stockholders’EquityConsolidated Statements of Cash FlowsNotesto Consolidated Financial StatementsItem2.Management’s Discussion and Analysis of Financial Condition and Results of OperationsItem3.Quantitative and Qualitative Disclosures About Market RiskItem4.Controls and Procedures Part2:OTHER INFORMATIONItem1.Legal ProceedingsItem1A.Risk FactorsItem2.Unregistered Sales of Equity Securities and Use of ProceedsItem3.Defaults Upon Senior SecuritiesItem4.Mine Safety DisclosuresItem5.Other InformationItem6.Exhibits Signatures PART1. FINANCIAL INFORMATION Item1- Consolidated Financial Statements Alerus Financial Corporation and Subsidiaries Consolidated Balance Sheets (Unaudited) Alerus Financial Corporation and Subsidiaries Alerus Financial Corporation and Subsidiaries Alerus Financial Corporation and Subsidiaries Alerus Financial Corporation and Subsidiaries Consolidated Statements of Cash Flows (Unaudited) Alerus Financial Corporation and Subsidiaries Notesto Consolidated Financial Statements (Unaudited) NOTE1Basis of Presentation The accompanying unaudited consolidated interim financial statements and notes thereto of the Company have beenprepared in accordance with instructions for Form10-Q and, therefore, donotinclude all disclosures required by accountingprinciples generally accepted in the United States of America(“GAAP”)for complete presentation of financial statements. In theopinion of management, the consolidated financial statements contain all adjustments (consisting only of normal recurringaccruals) necessary to present fairly the consolidated balance sheets of Alerus Financial Corporation (“the Company”)as ofJune30, 2025andDecember 31, 2024, the consolidated statements of income for thethreeandsixmonths endedJune 30, 2025and2024, the consolidated statements of comprehensive income (loss) for thethreeandsixmonths endedJune 30, 2025and2024, theconsolidated statements of changes in stockholders’ equity for thethreeandsixmonths endedJune 30, 2025and2024, and theconsolidated statements of cash flows for thesixmonths endedJune 30, 2025and2024. The accompanying unaudited consolidated financial statements include the accounts of the Company and its whollyowned subsidiaries. The Company’s principal operating subsidiary is Alerus Financial, National Association(the “Bank”). Certainitems previously reported have been reclassified to conform to the current period’s reporting format. Such reclassifications didnotaffect net income or stockholders’ equity. The results of operations for the interim periods arenotnecessarily indicative of theresults for the full year or any other period. The Company has also evaluated all subsequent events for potential recognition anddisclosure through the date of the filing of th