GRAND FORKS, N.D. (AP) — GRAND FORKS, N.D. (AP) — Alerus Financial Corporation (ALRS) on Wednesday reported a loss of $33.1 million in its fourth quarter.
On a per-share basis, the Grand Forks, North Dakota-based company said it had a loss of $1.29. Earnings, adjusted for non-recurring costs, were 85 cents per share.
The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 57 cents per share.
The company posted revenue of $101.8 million in the period. Its adjusted revenue was $63.4 million.
For the year, the company reported profit of $17.4 million, or 68 cents per share. Revenue was reported as $239 million.
Alerus shares have risen almost 6% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $23.80, a rise of 18% 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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