Alerus Financial Corp 2026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 ended March 31, 2026 ☐TRANSITION REPORT PURSUANT TO SECTION13 OR 15(d)OF THE SECURITIES EXCHANGEACT OF 1934 Commission File Number: 001-39036 ALERUS FINANCIAL CORPORATION 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 Act of1934 during the preceding 12months (or for such shorter period that the registrant was required to file such reports), and (2)has been subject tosuch 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 atApril 28, 2026was 25,128,646. Alerus Financial Corporation and Subsidiaries Table of Contents PartI: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 Item1.Legal ProceedingsItem1A. Risk FactorsItem2.Unregistered Sales of Equity Securities and Use of ProceedsItem3.Defaults Upon Senior SecuritiesItem4.Mine Safety DisclosuresItem5.Other InformationItem6.Exhibits Signatures PARTI. 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 Consolidated Statements of Comprehensive Income (Unaudited) Three months endedMarch 31,(dollars in thousands)20262025Net Income$22,971$13,315Other Comprehensive Income (Loss), Net of TaxNet change in unrealized gains (losses) on debt securities(3,634)14,174Net change in unrealized gain (losses) on cash flow hedging derivatives787(441)Net change in unrealized gain (losses) on other derivatives—(232)Total other comprehensive income (loss), before tax(2,847)13,501Income tax expense (benefit) related to items of other comprehensive income (loss)(766)3,389Other comprehensive income (loss), net of tax(2,081)10,112Total comprehensive income$20,890$23,427 Alerus Financial Corporation and Subsidiaries Consolidated Statements of Changes in Stockholders’Equity (Unaudited) Alerus Financial Corporation and Subsidiaries Consolidated Statements of Cash Flows (Unaudited) Alerus Financial Corporation and Subsidiaries Notesto Consolidated Financial Statements (Unaudited) NOTE1 Basis of Presentation The accompanying unaudited consolidated interim financial statements and notes thereto of the Company have beenprepared in accordance with instructions for Form 10-Q and, therefore, do not include 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 ofMarch31, 2026 and December 31, 2025, the consolidated statements of income for the three months ended March 31, 2026 and 2025, theconsolidated statements of comprehensive income (loss) for the three months ended March 31, 2026 and 2025, the consolidatedstatements of changes in stockholders’ equity for the three months ended March 31, 2026 and 2025, and the consolidatedstatements of cash flows for the three months ended March 31, 2026 and 2025. The accom