India, July 28 -- ALERUS FINANCIAL CORP (ALRS) released a profit for its second quarter that Increased from the same period last year and beat the Street estimates.
The company's earnings came in at $20.25 million, or $0.78 per share. This compares with $6.21 million, or $0.31 per share, last year.
Excluding items, ALERUS FINANCIAL CORP reported adjusted earnings of $18.64 million or $0.72 per share for the period.
Analysts on average had expected the company to earn $0.55 per share. Analysts' estimates typically exclude special items.
Interest income increased to $70.424 million from $53.022 million a year ago, primarily driven by earning assets acquired in the HMN Financial, Inc. (HMNF) transaction, strong organic loan growth at highe...