Alerus Financial Corp balance sheet

At the end of fiscal 2025, Alerus Financial Corp had total assets of $5.23bn, total liabilities of $4.67bn and shareholders' equity of $565m. It held $67.2m in cash against $368m of debt.

Balance sheet

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Alerus Financial Corp: balance sheet, annual
Fiscal year	2017Dec 2017	2018Dec 2018	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025	LTMJun 2026
Cash and equivalents	122	41	144	173	242	58	130	61	67	109
Goodwill	—	27	27	30	31	47	47	86	86	86
Total assets	2,136	2,179	2,357	3,014	3,393	3,780	3,908	5,262	5,230	5,289
Short-term debt	—	93	0	—	—	378	314	239	309	345
Long-term debt	—	59	59	59	59	59	59	59	59	59
Total debt	0	152	59	59	59	437	373	298	368	404
Total liabilities	—	1,982	2,071	2,684	3,033	3,423	3,539	4,766	4,665	4,706
Shareholders' equity	148	162	286	330	359	357	369	495	565	583
Shares outstanding	—	14m	17m	17m	17m	20m	20m	25m	25m	25m

US$ millions unless shown otherwise. Fiscal quarters.

Alerus Financial Corp: balance sheet, quarterly
Quarter	2024 Q3Sept 2024	2024 Q4Dec 2024	2025 Q1Mar 2025	2025 Q2Jun 2025	2025 Q3Sept 2025	2025 Q4Dec 2025	2026 Q1Mar 2026	2026 Q2Jun 2026
Goodwill	47	86	86	86	86	86	86	86
Total assets	4,359	5,262	5,340	5,324	5,331	5,230	5,288	5,289
Short-term debt	245	239	200	315	200	309	200	345
Long-term debt	59	59	59	59	59	59	59	59
Total debt	304	298	259	374	259	368	259	404
Total liabilities	3,698	4,766	4,825	4,791	4,780	4,665	4,713	4,706
Shareholders' equity	386	495	514	533	551	565	575	583
Non-controlling interests and other (assets − liabilities − equity)	274	—	—	—	—	—	—	—
Shares outstanding	20m	25m	25m	25m	25m	25m	25m	25m

Balances at each fiscal year end (quarter end in the quarterly view). Total debt is short- plus long-term borrowings, including lease debt where the company reports it within debt. Where assets do not equal liabilities plus shareholders' equity, the difference (non-controlling interests, redeemable preferred shares) is shown on its own line.

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Figures from Alerus Financial Corp's SEC filings (10-K and 10-Q), retrieved October 29, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Alerus Financial Corp.