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ALERUS FINANCIAL CORP 8-K-A Analysis & Summary – 3/14/2025

⚠️This is not investment advice.

⚠️ This is an experimental project and this report is for informational purposes only and should not be considered investment advice. Conduct your own thorough research and consult with a qualified financial advisor before making any investment decisions. ⚠️

Alerus Financial Corporation
,

Filing date:

03/14/2025

TLDR:

Alerus Financial Corporation amends its previous earnings release to correct financial information related to the goodwill calculation from the HMN Financial, Inc. acquisition.

ELI5:

Alerus Financial made a small mistake in their initial financial report about their purchase of another company. They’re fixing the numbers now, which mainly affects how they accounted for the costs of the deal and some related taxes.

Accession #:

0001437749-25-007626

Published on

Analyst Summary

  • Alerus Financial Corporation is filing an amendment to its initial 8-K report to correct financial information related to the acquisition of HMN Financial, Inc. in Q4 2024.
  • The corrections stem from a review of the goodwill calculation, specifically regarding accrued contract termination expenses that should not have been included.
  • The revisions impact professional fees and assessments, income tax expense, reported net income, goodwill, deferred income taxes, and retained earnings for the three and twelve months ended December 31, 2024.
  • The revisions did not materially impact the Company’s adjusted net income, a non-GAAP financial measure.
  • The corrected figures are provided in tables within the amended report, detailing the original and revised numbers for the Consolidated Statement of Income and Consolidated Balance Sheet.

⚠️ This is an experimental project and this report is for informational purposes only and should not be considered investment advice. Conduct your own thorough research and consult with a qualified financial advisor before making any investment decisions. ⚠️