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Alerus: 3Q Earnings Snapshot

·1 min read

GRAND FORKS, N.D. (AP) _ Alerus Financial Corporation (ALRS) on Wednesday reported third-quarter earnings of $17.7 million.

On a per-share basis, the Grand Forks, North Dakota-based company said it had net income of 99 cents.

The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 40 cents per share.

The company posted revenue of $69.5 million in the period. Its adjusted revenue was $67 million.

Alerus shares have declined almost 5% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $21.79, a rise of 2.5% 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