ALERUS FINANCIAL CORP (ALRS) [Rocket]

In millions, except per share items	Jun-30-23	Mar-31-23	Dec-31-22	Sep-30-22	Jun-30-22	Mar-31-22	Dec-31-21	Sep-30-21
	10-Q	10-Q	8-K	8-K	10-Q	10-Q	10-K	8-K
Interest income:
Interest income on loans	118.8	103.5	89.9	80.0	73.5	74.9	78.1	81.3
Interest income on investments	24.2	24.2	23.7	23.3	20.6	17.4	14.4	11.6
	146.2	130.3	115.6	104.0	94.2	92.4	92.7	93.7
Interest expense:
Interest on deposits	21.8	9.9			1.6	1.7
Interest on borrowings			1.2	0.6				0.5
	45.1	28.6	15.8	8.4	5.9	5.7	5.6	6.2
Net interest income	101.2	101.7	99.7	95.6	88.4	86.7	87.1	87.5
Provision for loan losses		0.6					-1.5
Net interest income after provision for loan losses	100.6	101.2	99.7	97.1	89.9	88.2	88.6	86.1
Deposit and loan fees			0.7	0.4				0.4
Other non-interest income	57.0	60.4	64.6	96.2	128.1	135.6	147.0	152.0
Total non-interest income	57.6	61.1	65.3	96.6	128.5	136.0	147.4	152.4
Non-interest expenses	155.0	158.6	158.8	162.1	161.4	163.9	168.9	174.8
Pre-tax income	49.2	49.6	52.2	54.4	59.0	62.3	69.1	65.7
Income taxes	11.4	11.6	12.2	12.6	13.7	14.6	16.4	15.5
Tax rate	23.2%	23.4%	23.3%	23.1%	23.2%	23.5%	23.7%	23.6%
Net income	37.8	38.0	40.0	81.8	85.2	87.6	92.7	50.2
Net margin	23.7%	23.2%	24.1%	42.1%	39.0%	39.1%	39.3%	21.0%

Basic EPS	$1.89	$1.97	$2.15	$4.56	$4.95	$5.09	$5.39	$2.92
Diluted EPS	$1.87	$1.94	$2.12	$4.50	$4.87	$5.01	$5.30	$2.87

Shares outstanding (basic)	20.0	19.3	18.6	17.9	17.2	17.2	17.2	17.2
Shares outstanding (diluted)	20.2	19.6	18.9	18.2	17.5	17.5	17.5	17.5

EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.