ALRS — what changed in the latest 10-Q
A section-by-section comparison of ALRS's newest periodic SEC filing (10-K/10-Q) against the prior same-form filing: paragraphs added and removed per section, with verbatim excerpts. Purely a deterministic text diff — no similarity scores, no directional read, not investment advice.
Comparing 10-Q · 2026-08-03 vs the prior 10-Q · 2026-05-01
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +21 | −11 | ~39 | 108 |
| Market risk (Item 3) | Text added/removed | 0 | 0 | ~2 | 12 |
| Controls & procedures | Text added/removed | 0 | −1 | ~3 | 17 |
| Legal proceedings | Text added/removed | 0 | −1 | ~3 | 15 |
| Risk factors | No material changes reported (points to the 10-K) | — | — | — | — |
| Other information | Text added/removed | 0 | −1 | ~1 | 11 |
Counts are paragraphs; added/removed means text added or removed vs the prior filing — no direction or judgement implied.
Representative excerpts
Up to 5 excerpts of about 300 characters per section, quoted verbatim from the two SEC filings.
MD&A
Text added vs the prior filing · source: 10-Q · 2026-08-03
emerging issues related to the development and use of artificial intelligence that could give rise to legal or regulatory action, damage our reputation, or otherwise materially harm our business or customers;
acts of war, military conflicts, or terrorism, including the wars in Iran and Ukraine, ongoing conflicts in the Middle East, and other international military conflicts, or adverse external events and changes in foreign relations that can increase levels of political and economic unpredictability, co…
the availability of future equity and debt issuances and other capital raising opportunities on favorable terms;
Net income for the six months ended June 30, 2026 was $43.8 million, or $1.70 per diluted common share, a $10.3 million, or 30.6%, increase compared to $33.6 million, or $1.30 per diluted common share, for the six months ended June 30, 2025. Earnings for the six months ended June 30, 2026 compared t…
Net interest income is the difference between interest income and yield related fees earned on assets and interest expense paid on liabilities. Net interest margin is the difference between the yield on interest earning assets and the cost of interest-bearing liabilities as a percentage of interest …
Text removed vs the prior filing · source: 10-Q · 2026-05-01
acts of war, military conflicts, or terrorism, including the wars in Iran and Ukraine, ongoing conflicts in the Middle East, and other international military conflicts, or other adverse external events and changes in foreign relations;
the impact of the current partial shutdown of the federal government and possible future shutdowns;
The Company’s Crossroads branch in Rochester, Minnesota is listed for sale for $1.5 million and is expected to sell within the next 12 months. At March 31, 2026, the facility had a carrying value of approximately $1.0 million. The Company expects to record a gain on the sale upon closing, as the exp…
Net interest income is the difference between interest income and yield related fees earned on assets and interest expense paid on liabilities. Net interest margin is the difference between the yield on interest earning assets and the cost of interest-bearing liabilities as a percentage of interest …
Net interest income for the three months ended March 31, 2026 was $44.9 million, an increase of $3.8 million, or 9.1%, compared to $41.2 million for the three months ended March 31, 2025. The increase in net interest income for the first quarter of 2026 compared to the first quarter of 2025 was prim…
Controls & procedures
Text removed vs the prior filing · source: 10-Q · 2026-05-01
10.1 Modification Agreement by and between Alerus Financial Corporation and the Bank of North Dakota, dated March 30, 2026 (incorporated by reference to Exhibit 10.1 on Form 8-K filed on March 31, 2026.
Legal proceedings
Text removed vs the prior filing · source: 10-Q · 2026-05-01
10.1 Modification Agreement by and between Alerus Financial Corporation and the Bank of North Dakota, dated March 30, 2026 (incorporated by reference to Exhibit 10.1 on Form 8-K filed on March 31, 2026.
Other information
Text removed vs the prior filing · source: 10-Q · 2026-05-01
10.1 Modification Agreement by and between Alerus Financial Corporation and the Bank of North Dakota, dated March 30, 2026 (incorporated by reference to Exhibit 10.1 on Form 8-K filed on March 31, 2026.
How to read Risk Factors (Item 1A) in a 10-Q
A 10-Q risk-factor section usually takes one of three forms; this page classifies it as one of:
- Pointer — the filer states there have been no material changes and points back to the annual 10-K risk factors; there is no own risk text to compare this quarter.
- Partial update — the filer carves out specific updated risks ("except as set forth below"); the excerpts show exactly what is new this quarter.
- Restated in full — the quarter carries the complete risk-factor text. When the prior quarter was only a pointer there is no prior full text to diff against, so the page flags the section as restated instead.
This describes the filing structure only — it is never a judgement on whether risk went up or down.
Source: text-level diff of the two SEC EDGAR filings · deterministic (no AI-generated content) · for reference only · not investment advice