Alerus Financial vs Independent Bank
Alerus Financial and Independent Bank are similar in size: $224m and $226m of revenue in their latest fiscal years. Independent Bank grew faster (1.4% against 1.1%). Independent Bank kept more of each dollar of sales as profit: a net margin of 30.4% against 7.8%.
| Latest fiscal year | Alerus FinancialALRS, 2025 | Independent BankIBCP, 2025 |
|---|---|---|
| Revenue | $224m | $226m |
| Revenue growth | 1.1% | 1.4% |
| Net income | $17.4m | $68.5m |
| Operating margin | — | — |
| Net margin | 7.8% | 30.4% |
| Return on equity | 3.3% | 14.3% |
| Free cash flow | $58.8m | $70.2m |
| Cash | $67.2m | $138m |
| Total debt | $368m | $0 |
| Debt to equity | — | — |
| Dividend per share | $0.83 | $1.04 |
| Dividend yield | 2.4% | 2.9% |
| Share buybacks | $737,000 | $12.4m |
| Employees | 864 | 735 |
| Market value | $858m | $757m |
| Price vs our value range | — | — |
| Moat score | 44 (Weak) | 82 (Strong) |
| Insider trades, 12 months | 0 buys, 0 sales | 3 buys, 19 sales |