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Crookston Times - Crookston, MN
  • Grand Forks Alerus financial company shows record income

  • Year-end results released Friday show that Alerus Financial Corp. had net income of $17.9 million for the year, up 66.9 percent from 2011.
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  • A Grand Forks-based financial services company reported record net income in 2012.
    Year-end results released Friday show that Alerus Financial Corp. had net income of $17.9 million for the year, up 66.9 percent from 2011. Its fourth-quarter net income was $4.8 million, up 51 percent from fourth quarter of 2011.
    Alerus officials say the results were due to increases in net interest income and fee-based revenue, and a lower provision for credit losses.
    Company President and CEO Randy Newman tells the Grand Forks Herald (http://bit.ly/Vqsa80) the results would be remarkable in the best of times, but says the results are magnified by the "ongoing challenges of our national economy and industry."

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