GRAND FORKS, N.D. (AP) — GRAND FORKS, N.D. (AP) — Alerus Financial Corporation (ALRS) on Monday reported second-quarter profit of $20.3 million.
On a per-share basis, the Grand Forks, North Dakota-based company said it had net income of 78 cents. Earnings, adjusted for non-recurring gains, came to 72 cents per share.
The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 56 cents per share.
The company posted revenue of $102.2 million in the period. Its adjusted revenue was $75.4 million.
Alerus shares have risen 13% since the beginning of the year. The stock has decreased roughly 2% 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
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