Alerus Financial reports Q2 net interest margin 2.39% vs. 2.30% in Q1

The company states: “Net interest margin was 2.39% in the second quarter of 2024, compared to 2.30% in the first quarter of 2024. Adjusted net interest margin increased 13 basis points from 2.44% in the first quarter of 2024 to 2.57% in the second quarter of 2024. Net interest income was $24.0 million in the second quarter of 2024, an increase of 8.0% from $22.2 million in the first quarter of 2024. Total assets under administration/management at June 30, 2024 were $43.6 billion, a 1.9% increase from March 31, 2024.”