First Northern Community Bancorp (the “Company”, OTCQX: FNRN), holding company for First Northern Bank (“First Northern” or the “Bank”), today reported net income of $21.1 million, or $1.27 per diluted share, for the twelve months ended December 31, 2025, up 5.5% compared to net income of $20.0 million, or $1.19 per diluted share, for the twelve months ended December 31, 2024.
Net income for the quarter ended December 31, 2025, was $6.0 million, or $0.36 per diluted share, up 2.3% compared to net income of $5.8 million, or $0.35 per diluted share, for the quarter ended December 31, 2024.
Total assets as of December 31, 2025, were $1.91 billion, an increase of $19.2 million, or 1.0%, compared to December 31, 2024. Total net loans as of December 31, 2025, were $1.05 billion, an increase of $3.6 million, or 0.4%, compared to December 31, 2024. The increase in net loans was primarily driven by growth in commercial loans, which was partially offset by net reductions in commercial real estate and residential mortgage loans. Total deposits as of December 31, 2025, were $1.68 billion, a decrease of $20.9 million, or 1.2%, compared to December 31, 2024.
The Company continued to be “well capitalized” under regulatory definitions, exceeding the 10% total risk-based capital ratio threshold as of December 31, 2025.
Commenting on the Company’s fourth quarter financial results, First Northern Bank’s President & Chief Executive Officer, Jeremiah Z. Smith, stated, “Our emphasis on building shareholder value continued in the fourth quarter with strong financial results as reflected in return on equity, return on assets, net interest margin, and operating efficiency. Shareholder’s equity totaled $212.0 million on December 31, 2025, an increase of $35.7 million, or 20.2%, compared to the prior year. Book value per share as of December 31, 2025, was $12.92, up $2.38, or 22.6%, compared to the prior year. The increases in equity and book value were driven by increases in retained earnings and fair value of our investment portfolio during 2025.”
Commenting further, President & CEO Smith stated: “We continued to see improvement in our net interest margin during the quarter. Yields on total average earning assets improved by 29 basis points, or 9.6%, compared to the same quarter last year, while our cost of funds increased only 5 basis points, or 3.2%. This resulted in a 25-basis-point improvement in net interest margin to 3.85% for the three months ended December 31, 2025, compared to 3.60% for the same quarter one year prior. This improvement was primarily driven by higher yields on our loan and securities portfolios and continued discipline in our deposit pricing.”
The Company also reported that, at their regular meeting on January 22, 2026, the Board of Directors approved the payment of a 5% stock dividend payable March 25, 2026, to shareholders of record as of February 27, 2026. All income per share amounts have been adjusted to give retroactive effect to the stock dividend.
FOURTHQUARTER HIGHLIGHTS (UNAUDITED)
Performance and operating highlights for the Company for the periods noted below included the following:
Three months ended
December 31,
September 30,
December 31,
(in thousands, except per share and share data)
2025
2025
2024
Return on average assets (“ROAA”) (annualized)
1.23
%
1.27
%
1.20
%
Return on average equity (“ROAE”) (annualized)
11.40
%
12.15
%
12.96
%
Pre-tax income
$
8,270
$
6,582
$
8,135
Net income
$
5,978
$
6,013
$
5,846
Net interest margin (annualized)
3.85
%
3.75
%
3.60
%
Cost of funds (annualized)
0.92
%
0.88
%
0.86
%
Efficiency ratio
61.31
%
64.43
%
57.34
%
Basic earnings per common share
$
0.37
$
0.37
$
0.35
Diluted earnings per common share
$
0.36
$
0.36
$
0.35
Weighted average basic common shares outstanding
16,165,014
16,266,955
16,494,513
Weighted average diluted common shares outstanding
16,534,164
16,545,837
16,755,429
Shares outstanding at end of period
16,406,281
16,502,035
16,723,686
Book value per share
$
12.92
$
12.41
$
10.54
Summary Results (Unaudited)
The following is a summary of the components of the Company’s operating results for the periods indicated:
Three months ended
December 31,
September 30,
(in thousands)
2025
2025
$ Change
% Change
Selected operating data:
Net interest income
$
17,729
$
16,847
$
882
5.24
%
Reversal of credit losses
(850
)
—
(850
)
—
Non-interest income
1,449
1,658
(209
)
(12.61
)%
Non-interest expense
11,758
11,923
(165
)
(1.38
)%
Pre-tax income
8,270
6,582
1,688
25.65
%
Provision for income taxes
2,292
569
1,723
302.81
%
Net income
$
5,978
$
6,013
$
(35
)
(0.58
)%
Three months ended
December 31,
December 31,
(in thousands)
2025
2024
$ Change
% Change
Selected operating data:
Net interest income
$
17,729
$
16,524
$
1,205
7.29
%
Reversal of credit losses
(850
)
(450
)
(400
)
88.89
%
Non-interest income
1,449
1,490
(41
)
(2.75
)%
Non-interest expense
11,758
10,329
1,429
13.83
%
Pre-tax income
8,270
8,135
135
1.66
%
Provision for income taxes
2,292
2,289
3
0.13
%
Net income
$
5,978
$
5,846
$
132
2.26
%
Balance Sheet Summary (Unaudited)
December 31,
December 31,
(in thousands)
2025
2024
$ Change
% Change
Selected financial condition data:
Total assets
$
1,910,950
$
1,891,722
$
19,228
1.02
%
Cash and cash equivalents
145,554
119,448
26,106
21.86
%
Total loans, net
1,050,473
1,046,852
3,621
0.35
%
Total investments
617,243
633,853
(16,610
)
-2.62
%
Total liabilities
1,698,932
1,715,390
(16,458
)
-0.96
%
Total deposits
1,679,143
1,700,089
(20,946
)
-1.23
%
Total shareholders’ equity
212,018
176,332
35,686
20.24
%
Net Interest Income and Net Interest Margin (Unaudited)
The following table shows the components of net interest income and net interest margin for the quarterly periods indicated:
Three months ended
December 31, 2025
September 30, 2025
December 31, 2024
Yields
Yields
Yields
Interest
Earned/
Interest
Earned/
Interest
Earned/
Average
Income/
Rates
Average
Income/
Rates
Average
Income/
Rates
(in thousands)
Balance
Expense
Paid (1)
Balance
Expense
Paid (1)
Balance
Expense
Paid (1)
Assets
Interest-earning assets:
Loans
$
1,050,919
$
15,179
5.73
%
$
1,055,924
$
14,589
5.48
%
$
1,044,552
$
13,769
5.24
%
Certificates of deposit
11,709
122
4.13
%
14,332
152
4.21
%
17,320
182
4.18
%
Interest-bearing due from banks
139,963
1,465
4.15
%
105,545
1,071
4.03
%
104,261
1,400
5.34
%
Investment securities, taxable
557,389
4,230
3.01
%
545,004
4,068
2.96
%
598,665
4,276
2.84
%
Investment securities, non-taxable
56,151
439
3.10
%
52,042
419
3.19
%
51,392
391
3.03
%
Other interest-earning assets
10,871
251
9.16
%
10,870
245
8.94
%
10,518
267
10.10
%
Total average interest-earning assets
1,827,002
21,686
4.71
%
1,783,717
20,544
4.57
%
1,826,708
20,285
4.42
%
Non-interest-earning assets:
Cash and due from banks
31,324
32,326
38,617
Premises & equipment, net
8,466
8,133
9,336
Interest receivable and other assets
66,699
59,211
53,265
Total average assets
$
1,933,491
$
1,883,387
$
1,927,926
Liabilities and Stockholders’ Equity
Interest-bearing liabilities:
Interest-bearing transaction deposits
$
383,185
$
770
0.80
%
$
390,689
$
767
0.78
%
$
377,280
$
657
0.69
%
Savings and MMDA’s
471,222
1,928
1.62
%
459,869
1,723
1.49
%
452,828
1,569
1.38
%
Time, $250,000 and under
89,058
973
4.33
%
84,002
758
3.58
%
110,293
1,352
4.88
%
Time, over $250,000
54,256
286
2.09
%
51,446
449
3.46
%
42,018
183
1.73
%
Total average interest-bearing liabilities
997,721
3,957
1.57
%
986,006
3,697
1.49
%
982,419
3,761
1.52
%
Non-interest-bearing liabilities:
Non-interest-bearing demand deposits
710,187
685,713
749,923
Interest payable and other liabilities
17,496
15,265
16,596
Total average liabilities
1,725,404
1,686,984
1,748,938
Total average stockholders’ equity
208,087
196,403
178,988
Total average liabilities and stockholders’ equity
$
1,933,491
$
1,883,387
$
1,927,926
Net interest income and net interest margin
$
17,729
3.85
%
$
16,847
3.75
%
$
16,524
3.60
%
(1)
For disclosure purposes, yield/rates are annualized by dividing the number of days in the reported period by 365.
About First Northern Bank
First Northern Bank is an independent community bank that specializes in relationship banking. The Bank, headquartered in Solano County since 1910, serves Solano, Yolo, Sacramento, Placer, Colusa, and Glenn counties, as well as the west slope of El Dorado County. Experts are available in small business, commercial, real estate, and agribusiness lending, as well as mortgage loans. The Bank is an SBA Preferred Lender. Real estate mortgage and small-business loan officers are available by appointment at any of the Bank’s 14 branches, including Dixon, Davis, West Sacramento, Fairfield, Vacaville, Winters, Woodland, Sacramento, Roseville, Auburn, Rancho Cordova, Colusa, Willows, and Orland. Non-FDIC insured Investment and Brokerage Services are also available at every branch location. First Northern Bank is rated as a Veribanc “Green-3 Star Blue Ribbon” Bank and a “5-Star Superior” Bank by Bauer Financial for the earnings period ended September 30, 2025 (www.veribanc.com) and (www.bauerfinancial.com). For additional information, please visit thatsmybank.com or call (707) 678-7742. Member FDIC. Equal Housing Lender.
Forward-Looking Statements
This press release and other public statements may include certain “forward-looking statements” about First Northern Community Bancorp and its subsidiaries (the “Company”). These forward-looking statements are based on management’s current expectations, including but not limited to statements about the Company’s performance and focus on improving shareholder value, and the stock dividend payable March 25, 2026, to shareholders of record as of February 27, 2026, and are subject to certain risks, uncertainties and changes in circumstances. Actual results may differ materially from these expectations due to changes in global political, economic, trade, business, competitive, market and regulatory factors. More detailed information about these risk factors is contained in the Company’s reports filed with the Securities and Exchange Commission on Forms 10-K and 10-Q, each as it may be amended from time to time, which identify important risk factors that could cause actual results to differ materially from those contained in the forward-looking statements. The financial information contained in this release should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s most recent reports on Form 10-K and Form 10-Q, and any reports on Form 8-K. The Company undertakes no obligation to update any forward-looking statements to reflect events or circumstances arising after the date on which they are made, except as may be required by applicable law. For further information regarding the Company, please read the Company’s reports filed with the SEC and available at www.sec.gov.
Oakworth Capital Inc. Reports 24% Increase in Diluted EPS
PR Newswire
BIRMINGHAM, Ala., Jan. 29, 2026
BIRMINGHAM, Ala., Jan. 29, 2026 /PRNewswire/ — Oakworth Capital Inc. (Oakworth) (OTCQX: OAKC) reported 24% higher diluted earnings per share in fiscal year 2025 compared to 2024. Oakworth’s Chairman and CEO Scott Reed stated, “We focus on serving our clients at the highest level on a consistent basis, across markets. In 2025, our clients told us we were doing just that with a Net Promoter Score of 95 and 95% client retention. We know that financial results will follow and they have. I am exceptionally proud of our associates and look forward to more of the same in 2026.”
Fiscal year and “as of” December 31, 2025, highlights include:
Income/Profitability:
Net income of $19.8 million: 25% higher than $15.8 million year-over-year
Diluted earnings per share of $3.94: 24% higher than $3.19 in 2024
Pre-tax pre-provision income of $29.6 million: 25% higher than $23.7 million in 2024
Revenue of $82.7 million: 17% higher than $70.8 million in 2024
20% year-over-year growth in net interest income
13% year-over-year growth in trust and wealth fees
Non-interest expenses of $53.1 million: 13% higher year-over-year
ROAE of 14.4%
ROAA of 1.1%
Wealth Assets/Balance Sheet:
Wealth assets of $2.7 billion, 17% higher than $2.3 billion one year prior
Year-over-year loan growth of 12% on average basis and 10% on period end basis to $1.6 billion
Year-over-year deposit growth of 14% on average basis and 15% on period end basis to $1.8 billion
Tangible book value per share: $30.10
Safety and Soundness:
Credit quality metrics:
$0.5 million non-performing loans
$0 past due +90 loans
$3.4 million ORE
1.2% allowance for credit losses as percentage of loans, net
Capital ratios
Total risk-based capital: 11.9%
CET1: 10.7%
Tier 1 leverage: 9.3%
About Oakworth Capital Inc. and Oakworth Capital Bank Oakworth Capital, Inc. operates as the bank holding company for Oakworth Capital Bank (Oakworth) (OTCQX: OAKC). Oakworth was founded in 2008 and operates four offices in the Southeast, including its headquarters in Birmingham, Alabama. Oakworth provides commercial and private banking, wealth management and advisory services to clients across the United States.
Oakworth has been ranked among American Banker’s “Best Banks to Work for” for the past nine years, holding the top spot for six of those and ranking #2 most recently. Additionally, Oakworth’s 2025 average Net Promoter Score (NPS) was 95 with a commensurate client retention rate of 95%. As of December 31, 2025, Oakworth had $2.0 billion in total assets, $1.6 billion in gross loans, $1.8 billion in deposits and $2.7 billion in wealth and trust assets under management. For more information, visit www.oakworth.com.
Advisory services, including investment management and financial planning, are offered through Oakworth Asset Management LLC, a registered investment advisor that is owned by Oakworth Capital Bank, Member FDIC. Investment products and services offered via Oakworth Asset Management LLC are independent of the products and services offered by Oakworth Capital Bank, and are not FDIC insured, may lose value, have no bank guarantee, and are not insured by any federal or state government agency. Because Oakworth Asset Management LLC is owned by Oakworth Capital Bank and because associates of either entity may provide financial advice to our clients, there exists a conflict of interest to the extent that either party recommends the services of the other. Oakworth Asset Management LLC does not provide tax or legal advice. You should consult your tax advisor, accountant, and/or attorney before making any decisions with tax or legal implications. Additional information about Oakworth Asset Management LLC, including its services and fees, may be obtained from adviserinfo.sec.gov or by contacting Oakworth Asset Management directly.
OAKWORTH CAPITAL INC.
WEALTH AND TRUST (Unaudited)
(In millions)
As of
Change
Change
12/31/2025
9/30/2025
6/30/2025
3/31/2025
12/31/2024
12/31/2025 vs. 09/30/2025
12/31/2025 vs. 12/31/2024
Wealth assets (non-balance sheet)
$ 2,685
$ 2,566
$ 2,415
$ 2,285
$ 2,297
$ 119
5 %
$ 388
17 %
CONSOLIDATED CONDENSED STATEMENTS OF CONDITION (Unaudited)
(in thousands)
As of
Change
Change
12/31/2025
9/30/2025
6/30/2025
3/31/2025
12/31/2024
12/31/2025 vs. 09/30/2025
12/31/2025 vs. 12/31/2024
Assets
Cash and due from banks
$ 194,946
$ 153,084
$ 124,351
$ 100,968
$ 125,016
$ 41,862
27 %
$ 69,930
56 %
Federal funds sold
1,325
950
1,900
525
950
375
39 %
375
39 %
Securities available for sale
201,684
189,673
175,535
175,599
158,885
12,011
6 %
42,799
27 %
Loans, net of unearned income
1,604,023
1,533,734
1,496,222
1,492,413
1,455,238
70,289
5 %
148,785
10 %
Allowance for credit losses
(19,348)
(18,734)
(17,944)
(17,015)
(16,330)
(614)
3 %
(3,018)
18 %
Loans, net
1,584,675
1,515,000
1,478,278
1,475,398
1,438,908
69,675
5 %
145,767
10 %
Fixed assets
3,625
3,821
3,980
4,221
4,420
(196)
-5 %
(795)
-18 %
Interest receivable
7,246
6,845
6,611
6,909
6,678
401
6 %
568
9 %
Other assets
52,723
52,825
58,967
53,866
54,084
(102)
0 %
(1,361)
-3 %
Total assets
$ 2,046,224
$ 1,922,198
$ 1,849,622
$ 1,817,486
$ 1,788,941
$ 124,026
6 %
$ 257,283
14 %
Liabilities and Stockholders’ Equity
Liabilities:
Deposits:
Non-interest bearing deposits
$ 304,683
$ 300,340
$ 273,119
$ 270,536
$ 274,872
$ 4,343
1 %
$ 29,811
11 %
Interest-bearing deposits
1,526,302
1,397,942
1,299,175
1,356,172
1,321,864
128,360
9 %
204,438
15 %
Total deposits
1,830,985
1,698,282
1,572,294
1,626,708
1,596,736
132,703
8 %
234,249
15 %
Total Borrowings
38,831
58,809
118,786
38,763
39,296
(19,978)
-34 %
(465)
-1 %
Accrued interest payable
1,223
710
1,452
559
1,149
513
72 %
74
6 %
Other liabilities
26,521
20,657
21,333
20,382
26,964
5,864
28 %
(443)
-2 %
Total liabilities
1,897,560
1,778,458
1,713,865
1,686,412
1,664,145
119,102
7 %
233,415
14 %
Total stockholders’ equity
148,664
143,740
135,757
131,074
124,796
4,924
3 %
23,868
19 %
Total liabilities and stockholders’ equity
$ 2,046,224
$ 1,922,198
$ 1,849,622
$ 1,817,486
$ 1,788,941
$ 124,026
6 %
$ 257,283
14 %
OAKWORTH CAPITAL INC.
CONSOLIDATED CONDENSED STATEMENTS OF INCOME (Unaudited)
(in thousands)
Quarter Ended
Change
Change
12/31/2025
9/30/2025
6/30/2025
3/31/2025
12/31/2024
4Q25 vs. 3Q25
4Q25 vs. 4Q24
Interest income:
Loans, including fees
$ 25,817
$ 26,194
$ 25,306
$ 24,803
$ 25,141
$ (377)
-1 %
$ 676
3 %
Securities available for sale
1,814
1,667
1,605
1,474
1,257
147
9 %
557
44 %
Short term investments
1,772
1,058
1,043
1,169
1,222
714
67 %
550
45 %
Total interest income
29,403
28,919
27,954
27,446
27,620
484
2 %
1,783
6 %
Interest expense:
Deposits
11,289
11,357
11,049
11,268
11,807
(68)
-1 %
(518)
-4 %
Borrowings
678
1,114
1,022
637
804
(436)
-39 %
(126)
-16 %
Total interest expense
11,967
12,471
12,071
11,905
12,611
(504)
-4 %
(644)
-5 %
Net interest income
17,436
16,448
15,883
15,541
15,009
988
6 %
2,427
16 %
Provision for credit losses
1,010
905
1,236
775
1,080
105
12 %
(70)
-6 %
Net interest income after provision
16,426
15,543
14,647
14,766
13,929
883
6 %
2,497
18 %
for loan losses
Non-interest income
4,647
4,392
4,131
4,245
4,108
255
6 %
539
13 %
Non-interest expense
14,634
13,223
12,964
12,325
12,721
1,411
11 %
1,913
15 %
Income before income taxes
6,439
6,712
5,814
6,686
5,316
(273)
-4 %
1,123
21 %
Provision for income taxes
1,145
1,653
1,434
1,655
1,236
(508)
-31 %
(91)
-7 %
Net Income
5,294
5,059
4,380
5,031
4,080
235
5 %
1,214
30 %
Earnings per share – basic
$ 1.05
$ 1.01
$ 0.88
$ 1.01
$ 0.82
$ 0.04
4 %
$ 0.23
28 %
Earnings per share – diluted
$ 1.04
$ 1.01
$ 0.88
$ 1.01
$ 0.82
$ 0.03
3 %
$ 0.22
27 %
OAKWORTH CAPITAL INC.
CONSOLIDATED CONDENSED STATEMENTS OF INCOME (Unaudited)
How Does a Chiropractor Put a Rib Back Into Place?
Plantation, United States – January 28, 2026 /ChiroCare of Florida Injury and Wellness Centers/
Understanding rib misalignment, treatment methods, and how chiropractic care restores comfort
Sharp pain in the chest or side when breathing deeply, twisting, or sitting upright can be unsettling. Many people describe this sensation as feeling like a rib is “out of place.” While ribs rarely fully dislocate, restricted movement where the ribs connect to the spine can cause significant discomfort. ChiroCare of Florida in Plantation helps patients understand how chiropractors evaluate and treat rib-related pain using precise, non-invasive techniques.
For individuals asking whether a chiropractor can fix a rib out of place, the answer often lies in restoring normal joint motion rather than forcing bones back into position.
What a “Rib Out of Place” Really Means
Ribs attach to the thoracic spine through joints designed to move smoothly with breathing and everyday motion. When these joints lose mobility due to poor posture, repetitive strain, sudden twisting, coughing, or prolonged sitting, rib misalignment or thoracic spine dysfunction can occur.
This restriction can irritate nearby muscles and nerves, creating sharp or aching pain along the chest wall, side, or upper back. Conditions such as rib subluxation or slipped rib syndrome may develop when cartilage weakens and allows excessive rib movement.
Unlike heart or lung conditions, rib-related pain often worsens with movement. Twisting, reaching overhead, coughing, laughing, or deep breathing may trigger discomfort, and the area may feel tender to the touch.
How Chiropractors Evaluate Rib Pain
Chiropractic care for rib pain begins with a detailed examination. The chiropractor evaluates posture, spinal alignment, breathing patterns, and how the ribs move during motion.
The goal is to identify restricted joints or movement patterns contributing to discomfort. This evaluation helps determine whether chiropractic adjustment or rib joint mobilization may improve mobility and reduce pain.
Chiropractic Techniques Used for Rib Misalignment
Chiropractors trained under standards supported by organizations such as the International Chiropractors Association focus on restoring proper movement between the ribs and spine.
Treatment often begins with soft tissue therapy, including massage or stretching, to relax tight muscles surrounding the ribs. Once muscle tension decreases, the chiropractor may perform rib joint mobilization or a targeted chiropractic adjustment.
These adjustments use controlled, gentle movements to guide the rib back into proper motion. Patients may hear a light popping sound as the joint releases, followed by noticeable relief. The goal is not to force the rib but to restore natural joint function and reduce nerve irritation.
What to Expect After Treatment
After rib-related chiropractic care, many patients report easier breathing, reduced pain, and improved comfort with movement. Chiropractic adjustments support thoracic mobility and overall spinal health, which helps prevent recurring issues.
Patients often receive guidance on posture awareness, ergonomic adjustments, and simple strengthening exercises to support long-term comfort. These steps help maintain proper alignment and reduce the likelihood of future rib discomfort.
Benefits of Ongoing Chiropractic Care
Regular visits with a chiropractor in Plantation, FL, can support spinal mobility, posture, and overall movement quality. Chiropractic care helps reduce stiffness, improve flexibility, and enhance body awareness during daily activities.
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Contact Information:
ChiroCare of Florida Injury and Wellness Centers
801 S University Dr J-101, Plantation, FL 33324, United States Plantation, FL 33324 United States
Vehicle production down -15.5% in 2025 as 764,715 cars and commercial vehicles leave factories.
Car output falls -8.0% while CV volumes decline -62.3% as industry restructures amid cyber incident and tariff uncertainties.
December car growth signals optimism for 2026, driven by new EV models entering production, with opportunity to produce one million vehicles by 2027 if conditions are right.
Sector calls for government to deliver Industrial and Trade Strategies, to improve manufacturing competitiveness and unlock growth potential.
LONDON, Jan. 29, 2026 /PRNewswire/ — UK vehicle production fell -15.5% in 2025, according to the latest figures published today by the Society of Motor Manufacturers and Traders (SMMT). Factories turned out a total of 764,715 units – 717,371 cars and 47,344 commercial vehicles, with output falling by -8.0% and -62.3% respectively.1 Volumes were constrained by a number of factors, including a cyber incident stopping production at Britain’s biggest automotive employer; new tariffs on trade across the Atlantic; the consolidation of two CV plants into one; and ongoing restructuring as plants shift to a decarbonised future.
December saw van, truck, bus and coach volumes decline for a ninth consecutive month, falling -67.7% to 2,281 units, but car production showed signs of recovery, rising 17.7% to 53,003 units and ending four months of decline. Over the year, car production for the UK market fell by -8.2% to 161,545 units while exports declined -7.9% to 555,826 units, accounting for 77.5% of output.
Europe received the majority (56.7%) of vehicles exported, followed by the US (15.0%) and China (6.3%). Exports to each were down, by -3.3%, -18.3% and -12.5% respectively – with shipments to the US impacted by tariff uncertainty earlier in 2025. Turkey and Japan rounded off the UK’s top five global export markets, followed by Canada, Australia, South Korea, Switzerland and UAE.
Production of battery electric (BEV), plug-in hybrid (PHEV) and hybrid (HEV) cars rose by 8.3% to a combined 298,813 units – a record 41.7% share of output. With the start of next generation volume electric car production in Sunderland, and the planned launch of seven new EV models across the UK, output is expected to grow in 2026.
The latest independent production outlook expects overall UK car production to return to growth with output set to rise by more than 10% to some 790,000 units in 2026. Overall light vehicle production is anticipated to reach 824,000 units – with the potential to reach one million units by 2027 provided new model launches stay on track and the right conditions are set.2
Significant public and private investment has already been committed to the UK’s EV transition –with government’s £4 billion DRIVE35 programme launched as part of its Modern Industrial Strategy. Achieving the Strategy’s ambition of UK automotive production reaching over 1.3 million per year by 2035 now depends on the delivery of the commitments set out in the Strategy.
These include measures to drive down the UK’s stubbornly high cost of energy, ensuring the whole sector is eligible for the British Industrial Competitiveness Scheme, support for the UK supply chain, and the creation of a strong and sustainable domestic market. Given that manufacturers – and therefore suppliers – build close to where they sell, the importance of a healthy new vehicle market cannot be overstated.
A forward-looking trade agenda that deepens existing relationships and builds new ones is also fundamental to what is an export-led industry. Europe remains the UK’s biggest automotive export market and the biggest source of imported vehicles and components, so tariff-free trade and market access must be assured, despite a looming change to Rules of Origin requirements agreed under the Brexit deal and increasingly protectionist ‘Made in Europe’ proposals coming from the European Commission.
Furthermore, given the crucial role of US exports – especially to small volume, high value manufacturers – further uncertainty in cross-Atlantic trade has to be avoided while the benefits arising from new deals with South Korea and India must be realised. Above all, the UK must continue to promote the sector’s expertise and capability vigorously to a global audience.
Mike Hawes, SMMT Chief Executive, said, “2025 was the toughest year in a generation for UK vehicle manufacturing. Structural changes, new trade barriers, and a cyber attack that stopped production at one of the UK’s most important manufacturers combined to constrain output, but the outlook for 2026 is one of recovery. The launch of a raft of new, increasingly electric, models and an improving economic outlook in key markets augur well. The key to long term growth, however, is the creation of the right competitive conditions for investment; reduced energy costs; the avoidance of new trade barriers; and a healthy, sustainable domestic market. Government has set out how it will back the sector with its Industrial and Trade strategies, and 2026 must be a year of delivery.”
Notes to editors 1 – ‘Commercial vehicle’ covers vans, trucks, taxis, buses and coaches. 2 – Based on independent production outlook produced by AutoAnalysis in November – cars and light vans only.
MINNEAPOLIS, Jan. 28, 2026 (GLOBE NEWSWIRE) — Alerus Financial Corporation (Nasdaq: ALRS), or the Company, reported a net loss of $33.1 million for the fourth quarter of 2025, or $(1.27) per diluted common share, compared to net income of $16.9 million, or $0.65 per diluted common share, for the third quarter of 2025, and a net loss of $0.1 million, or $0.00 per diluted common share, for the fourth quarter of 2024.
During the fourth quarter of 2025, the Company sold $360.1 million of available-for-sale securities as part of a strategic balance sheet repositioning. The sale resulted in a one-time pre-tax net loss of $68.4 million. Proceeds from the sale were reinvested into new, higher yielding investment securities. Adjusted pre-provision net revenue (non-GAAP)(1) was $25.3 million, compared to $22.1 million for the third quarter 2025.
CEO Comments
President and Chief Executive Officer Katie O’Neill Lorenson said, “2025 was a defining year for Alerus. In our first full year integrating the HMN Financial, Inc. (“HMNF”) acquisition, we exceeded our financial performance expectations with an adjusted return on average assets (“ROAA”) (non-GAAP)(1) of 1.35% and adjusted efficiency ratio (non-GAAP)(1) of 64.45% for the year ended December 31, 2025. We demonstrated our capabilities as a high-quality consolidator with strong retention of team members and clients throughout the transaction and integration process.
We also took decisive strategic action to position the company for the next stage of growth. Our strategic balance sheet repositioning removed the drag of legacy low-yielding securities, and positions Alerus for higher profitability in 2026 and beyond. In parallel, we de-risked the loan portfolio by reducing commercial real estate (“CRE”) concentrations, completing targeted loan sales, and managing renewals with greater selectivity, all while achieving strong commercial and industrial (“C&I”) loan growth. These actions strengthened our capital and risk profile, with tangible common equity to tangible assets rising to 8.72% and reserves ending at 1.53% of loans.
Strong banking operating results were bolstered by differentiated and durable fee-based revenue, where Alerus maintained our position as an industry leader with adjusted noninterest income as a percentage of revenue (non-GAAP)(1) of 40.77%. Adjusted non-interest income (non-GAAP)(1) increased 7.0% year over year, driven by sustained organic growth across our retirement and wealth segments, as assets under administration and management expanded to a combined $49.8 billion. Throughout 2025, we strengthened our operating foundation by implementing new core systems and processes to support client and advisor growth. While we will continue to invest in people and technology, we are very focused on delivering positive operating leverage to drive returns and tangible book value growth higher.
Our disciplined focus on shareholder value translated into tangible book value growth of 21.54% from the prior year, supported by a fourth quarter adjusted return on average tangible equity (non-GAAP)(1) of 21.05%. As we enter 2026, our commitment is clear – drive superior returns, strengthen long-term shareholder value, and execute with the discipline and vision enabled by our diversified business model and exceptional team.”
Fourth Quarter Highlights
Diluted earnings (loss) per common share of $(1.27); adjusted diluted earnings per common share (non-GAAP)(1) of $0.85, versus $0.66 in the third quarter of 2025.
Return on average total assets of (2.50)%; adjusted return on average total assets (non-GAAP)(1) of 1.62%, versus 1.28% in the third quarter of 2025.
Return on average tangible common equity of (28.15)%; adjusted return on average tangible common equity (non-GAAP)(1) of 21.05%, versus 18.55% in the third quarter of 2025.
Net interest income was $45.2 million, an increase of 4.7% from $43.1 million in the third quarter of 2025.
Net interest margin was 3.69%, an increase compared to 3.50% in the third quarter of 2025.
Retirement and benefit services income was $17.3 million, an increase of 4.6% from $16.5 million in the third quarter of 2025. Assets under administration grew 2.1% over the prior quarter.
Wealth management income was $7.4 million, an increase of 13.4% from $6.6 million in the third quarter of 2025. Assets under management grew 0.8% over the prior quarter.
Efficiency ratio of 557.48%; adjusted efficiency ratio (non-GAAP)(1) of 63.55%, versus 65.22% in the third quarter of 2025.
Pre-provision net revenue of $(43.7) million; adjusted pre-provision net revenue (non-GAAP)(1) of $25.3, an increase of 14.3% from $22.1 in the third quarter of 2025.
Net charge-offs (recoveries) to average loans was (0.03)%.
Tangible book value per common share (non-GAAP)(1) was $17.55 as of December 31, 2025, an increase of 3.8% from $16.90 as of September 30, 2025.
Tangible common equity to tangible assets ratio (non-GAAP)(1) was 8.72% as of December 31, 2025, an increase from 8.24% as of September 30, 2025.
Full Year 2025 Highlights
Diluted earnings per common share of $0.68; adjusted diluted earnings per common share (non-GAAP)(1) of $2.78, versus $1.45 for the full year 2024.
Return on average total assets of 0.33%; adjusted return on average total assets (non-GAAP)(1) of 1.35%, versus 0.69% for the full year 2024.
Return on average tangible common equity of 6.29%; adjusted return on average tangible common equity (non-GAAP)(1) of 19.48%, versus 11.22% in the full year 2024.
Net interest income was $172.5 million, an increase of 61.1% from $107.0 million for the year ended December 31, 2024.
Net interest margin was 3.53%, an increase of 97 basis points from 2.56% for the year ended December 31, 2024.
Total loans at the end of 2025 grew 1.4% over the prior year.
Noninterest income was $51.9 million; adjusted noninterest income (non-GAAP)(1) was $118.7 million, an increase of 7.0% compared to $111.0 million for the year ended December 31, 2024.
Retirement and benefit services income was $65.9 million, an increase of 2.4% from $64.4 million for the year ended December 31, 2024. Assets under administration grew 10.3% over the prior year end.
Wealth management income was $28.3 million, an increase of 8.0% from $26.2 million for the year ended December 31, 2024. Assets under management grew 5.9% over the prior year end.
Mortgage originations were $484.8 million, an increase of 54.4% from $334.3 million for the year ended December 31, 2024.
Efficiency ratio of 84.10%; adjusted efficiency ratio (non-GAAP)(1) of 64.45%, versus 73.45% for the full year 2024.
Pre-provision net revenue of $23.1 million; adjusted pre-provision net revenue (non-GAAP)(1) of $91.5 million, an increase of 82.0% from $50.2 million for the full year 2024.
Net charge-offs to average loans of 0.05%; adjusted net recoveries to average loans (non-GAAP)(1) of (0.02)%, versus adjusted net charge-offs to average loans (non-GAAP)(1) of 0.13% for the full year 2024.
Tangible book value per common share (non-GAAP)(1) was $17.55, compared to $14.44 as of December 31, 2024.
Tangible common equity to tangible assets ratio (non-GAAP)(1) was 8.72%, an increase from 7.13% as of December 31, 2024.
_______________ (1) Represents a non-GAAP financial measure. See “Non-GAAP to GAAP Reconciliations and Calculation of Non-GAAP Financial Measures.”
Selected Financial Data (unaudited)
As of and for the
Three months ended
Year ended
December 31,
September 30,
December 31,
December 31,
December 31,
(dollars and shares in thousands, except per share data)
2025
2025
2024
2025
2024
Performance Ratios
Return on average total assets
(2.50
)%
1.27
%
(0.00
)%
0.33
%
0.39
%
Adjusted return on average total assets (1)
1.62
%
1.28
%
0.85
%
1.35
%
0.69
%
Return on average common equity
(23.75
)%
12.80
%
(0.05
)%
3.32
%
4.47
%
Return on average tangible common equity (1)
(28.15
)%
18.48
%
2.38
%
6.29
%
7.14
%
Adjusted return on average tangible common equity (1)
21.05
%
18.55
%
14.89
%
19.48
%
11.22
%
Noninterest (loss) income as a % of revenue
(449.23
)%
40.56
%
46.94
%
23.12
%
51.78
%
Adjusted noninterest (loss) income as a % of revenue (1)
41.39
%
40.58
%
44.27
%
40.77
%
50.90
%
Net interest margin (tax-equivalent)
3.69
%
3.50
%
3.20
%
3.53
%
2.56
%
Efficiency ratio (1)
557.48
%
65.34
%
79.47
%
84.10
%
77.92
%
Adjusted efficiency ratio (1)
63.55
%
65.22
%
68.97
%
64.45
%
73.45
%
Net charge-offs (recoveries) to average loans
(0.03
)%
(0.17
)%
0.13
%
0.05
%
0.13
%
Adjusted net charge-offs (recoveries) to average loans (1)
(0.03
)%
(0.17
)%
0.13
%
(0.02
)%
0.13
%
Dividend payout ratio
(16.54
)%
32.31
%
—
%
122.06
%
95.18
%
Per Common Share
Earnings (loss) per common share – basic
$
(1.28
)
$
0.66
$
—
$
0.69
$
0.84
Earnings (loss) per common share – diluted
$
(1.27
)
$
0.65
$
—
$
0.68
$
0.83
Adjusted earnings per common share – diluted (1)
$
0.85
$
0.66
$
0.45
$
2.78
$
1.45
Dividends declared per common share
$
0.21
$
0.21
$
0.20
$
0.83
$
0.79
Book value per common share
$
22.24
$
21.68
$
19.55
Tangible book value per common share (1)
$
17.55
$
16.90
$
14.44
Average common shares outstanding – basic
25,398
25,395
24,857
25,380
21,047
Average common shares outstanding – diluted
25,710
25,713
25,144
25,697
21,321
Other Data
Retirement and benefit services assets under administration/management
$
44,925,311
$
44,005,277
$
40,728,699
Wealth management assets under administration/management
$
4,850,600
$
4,812,250
$
4,579,189
Mortgage originations
$
136,780
$
142,768
$
88,576
$
484,775
$
334,318
_______________ (1) Represents a non-GAAP financial measure. See “Non-GAAP to GAAP Reconciliations and Calculation of Non-GAAP Financial Measures.”
Results of Operations
Net Interest Income
Net interest income for the fourth quarter of 2025 was $45.2 million, a $2.0 million, or 4.7%, increase from the third quarter of 2025. The increase was primarily due to lower cost of funds and a one-time $2.4 million adjustment related to a sold loan participation. Interest expense decreased $2.3 million, or 8.3%, from the third quarter of 2025, as the average rates paid on deposits and borrowings declined.
Net interest income increased $6.9 million, or 18.0%, from $38.3 million for the fourth quarter of 2024. Interest income increased $3.1 million, or 4.6%, from the fourth quarter of 2024, primarily driven by earning assets acquired in the HMNF acquisition, organic loan growth at higher yields, and purchase accounting accretion. Interest expense decreased $3.8 million, or 13.1%, from the fourth quarter of 2024, as the average rates paid on deposits and borrowings declined, which more than offset the increase in interest-bearing deposits and borrowing balances.
Net interest margin (on a tax-equivalent basis) was 3.69% for the fourth quarter of 2025, a 19 basis point increase from 3.50% for the third quarter of 2025, and a 49 basis point increase from 3.20% for the fourth quarter of 2024. The quarter over quarter increase was mainly attributable to lower cost of funds and a one-time adjustment related to a sold loan participation, offset by less purchase accounting accretion. The increase from the fourth quarter of 2024 was primarily driven by lower cost of funds and higher rates on interest-earning assets, offset by less purchase accounting accretion.
Noninterest (Loss) Income
Noninterest (loss) income for the fourth quarter of 2025 was $(36.9) million, a $66.4 million, or 225.5%, decrease from the third quarter of 2025. The quarter over quarter decrease was driven by the previously announced strategic balance sheet repositioning, which resulted in a $68.4 million loss on the sale of investment securities in the fourth quarter of 2025. Adjusted noninterest income (non-GAAP)(1) was $31.9 million in the fourth quarter of 2025, an increase of 8.3% compared to $29.5 million in the third quarter of 2025. Wealth management revenue increased $0.9 million, or 13.4%, from the third quarter of 2025, primarily driven by asset-based fees. Retirement and benefit services revenue increased $0.8 million, or 4.6%, from the third quarter of 2025, primarily driven by both asset-based and transaction-based fees. Other noninterest income increased $0.6 million, or 26.3%, from the third quarter of 2025, primarily driven by increased swap fee revenue.
Noninterest income for the fourth quarter of 2025 decreased by $70.8 million, or 209.1%, from the fourth quarter of 2024. This decrease was driven by the previously announced strategic balance sheet repositioning recognized in the fourth quarter of 2025. Adjusted noninterest income (non-GAAP)(1) was $31.9 million in the fourth quarter of 2025, an increase of 4.9% compared to $30.4 million in the fourth quarter of 2024. Other interest income decreased $3.6 million, or 56.3%, in the fourth quarter of 2025 compared to the fourth quarter of 2024, primarily due to a gain on the sale of fixed assets related to the sale of a Fargo, North Dakota office in the fourth quarter of 2024. Retirement and benefit services revenue increased $0.8 million, or 4.7%, in the fourth quarter of 2025 compared to the fourth quarter of 2024, primarily driven by asset-based fees, due to a 10.3% increase in assets under administration/management during that same period.
_______________ (1) Represents a non-GAAP financial measure. See “Non-GAAP to GAAP Reconciliations and Calculation of Non-GAAP Financial Measures.”
Noninterest Expense
Noninterest expense for the fourth quarter of 2025 was $51.9 million, a $1.3 million, or 2.7%, increase from the third quarter of 2025. Occupancy and equipment expense increased $0.8 million, or 28.4%, from the third quarter of 2025, primarily driven by the opening of a new facility in our Fargo, North Dakota market. Business services, software and technology expense increased $0.5 million, or 8.1%, from the third quarter of 2025, primarily due to data processing expenses. Professional fees and assessments increased $0.4 million, or 15.4%, from the third quarter of 2025, primarily driven by an increase in fees related to the balance sheet repositioning in the fourth quarter of 2025. Mortgage and lending expenses decreased $0.4 million, or 38.9%, from the third quarter of 2025, primarily driven by a decrease in reimbursable loan expenses.
Noninterest expense for the fourth quarter of 2025 decreased $8.6 million, or 14.2%, from $60.5 million in the fourth quarter of 2024. The decrease was primarily driven by decreases in professional fees and assessments, compensation expense, and intangible amortization expense, offset by an increase in occupancy and equipment expense. In the fourth quarter of 2025, professional fees and assessments decreased $7.9 million, or 71.8%, from the fourth quarter of 2024, primarily due to acquisition-related expenses in connection with the HMNF acquisition incurred in 2024. Compensation expense decreased $1.5 million, or 5.6% compared to the fourth quarter of 2024 primarily due to lower headcount. Intangible amortization expense decreased $0.4 million, or 15.0%, in the fourth quarter of 2025, primarily due to the annual reset of the $33.5 million core deposit intangible recorded in connection with the HMNF acquisition. Occupancy and equipment expense increased $1.7 million, or 86.3%, from the fourth quarter of 2024, primarily driven by facility upgrades.
Financial Condition
Total assets were $5.2 billion as of December 31, 2025, a decrease of $31.6 million, or 0.6%, from December 31, 2024. The decrease was primarily due to a $74.0 million decrease in available-for-sale investment securities and a $21.1 million decrease in held-to-maturity investment securities, partially offset by an increase of $55.5 million in loans held for investment and an increase of $15.3 million in operating lease right-of-use assets.
Loans Held for Investment
Total loans held for investment were $4.0 billion as of December 31, 2025, an increase of $55.5 million, or 1.4%, from December 31, 2024. The increase was primarily driven by a $45.8 million increase in consumer loans and a $9.7 million increase in commercial loans.
The following table presents the composition of our loans held for investment portfolio as of the dates indicated:
December 31,
September 30,
June 30,
March 31,
December 31,
(dollars in thousands)
2025
2025
2025
2025
2024
Commercial
Commercial and industrial
$
736,833
$
702,135
$
675,892
$
658,446
$
666,727
Commercial real estate
Construction, land and development
246,238
349,768
352,749
360,024
294,677
Multifamily
383,505
374,761
333,307
353,060
363,123
Non-owner occupied
875,862
865,785
887,643
951,559
967,025
Owner occupied
427,260
435,320
440,170
424,880
371,418
Total commercial real estate
1,932,865
2,025,634
2,013,869
2,089,523
1,996,243
Agricultural
Land
64,799
65,900
66,395
68,894
61,299
Production
62,500
63,051
67,931
64,240
63,008
Total agricultural
127,299
128,951
134,326
133,134
124,307
Total commercial
2,796,997
2,856,720
2,824,087
2,881,103
2,787,277
Consumer
Residential real estate
First lien
874,737
894,402
901,738
907,534
921,019
Construction
33,703
34,124
35,754
38,553
33,547
HELOC
260,883
234,681
200,624
175,600
162,509
Junior lien
36,844
40,434
41,450
43,740
44,060
Total residential real estate
1,206,167
1,203,641
1,179,566
1,165,427
1,161,135
Other consumer
44,858
41,715
41,003
38,955
44,122
Total consumer
1,251,025
1,245,356
1,220,569
1,204,382
1,205,257
Total loans
$
4,048,022
$
4,102,076
$
4,044,656
$
4,085,485
$
3,992,534
Deposits
Total deposits were $4.2 billion as of December 31, 2025, a decrease of $186.4 million, or 4.3%, from December 31, 2024. Noninterest-bearing deposits decreased $95.6 million and interest-bearing deposits decreased $90.8 million from December 31, 2024. The decrease was primarily driven by a decrease in high-cost time deposits, which included $22.2 million of brokered CDs that matured in 2025 and were not renewed.
The following table presents the composition of the Company’s deposit portfolio as of the dates indicated:
December 31,
September 30,
June 30,
March 31,
December 31,
(dollars in thousands)
2025
2025
2025
2025
2024
Noninterest-bearing demand
$
807,896
$
776,791
$
790,300
$
889,270
$
903,466
Interest-bearing
Interest-bearing demand
1,296,315
1,256,687
1,214,597
1,283,031
1,220,173
Savings accounts
173,759
174,113
175,586
177,341
165,882
Money market savings
1,337,491
1,460,006
1,358,516
1,472,127
1,381,924
Time deposits
576,542
745,056
798,469
663,522
706,965
Total interest-bearing
3,384,107
3,635,862
3,547,168
3,596,021
3,474,944
Total deposits
$
4,192,003
$
4,412,653
$
4,337,468
$
4,485,291
$
4,378,410
Asset Quality
Total nonperforming assets were $66.5 million as of December 31, 2025, increase of $3.6 million, or 5.7%, from December 31, 2024. As of December 31, 2025, the allowance for credit losses on loans was $61.9 million, or 1.53% of total loans, compared to $59.9 million, or 1.50% of total loans, as of December 31, 2024.
The following table presents selected asset quality data as of and for the periods indicated:
As of and for the three months ended
December 31,
September 30,
June 30,
March 31,
December 31,
(dollars in thousands)
2025
2025
2025
2025
2024
Nonaccrual loans
$
66,148
$
59,644
$
51,276
$
50,517
$
54,433
Accruing loans 90+ days past due
—
—
202
—
8,453
Total nonperforming loans
66,148
59,644
51,478
50,517
62,886
OREO and repossessed assets
308
467
751
493
—
Total nonperforming assets
$
66,456
$
60,111
$
52,229
$
51,010
$
62,886
Net charge-offs (recoveries)
(311
)
(1,715
)
3,767
407
1,258
Net charge-offs (recoveries) to average loans
(0.03
)%
(0.17
)%
0.37
%
0.04
%
0.13
%
Nonperforming loans to total loans
1.63
%
1.45
%
1.27
%
1.24
%
1.58
%
Nonperforming assets to total assets
1.27
%
1.13
%
0.98
%
0.96
%
1.20
%
Allowance for credit losses on loans to total loans
1.53
%
1.51
%
1.47
%
1.52
%
1.50
%
Allowance for credit losses on loans to nonperforming loans
94
%
104
%
115
%
123
%
95
%
For the fourth quarter of 2025, the Company had net recoveries of $0.3 million, compared to net recoveries of $1.7 million for the third quarter of 2025 and net charge-offs of $1.3 million for the fourth quarter of 2024. The quarter over quarter decrease in net recoveries was primarily due to a $1.9 million recovery on a commercial and industrial loan in the third quarter of 2025.
The Company recorded a provision release of $0.3 million for the fourth quarter of 2025, and no provision for credit losses for the third quarter of 2025, compared to a provision for credit losses of $12.0 million for the fourth quarter of 2024. The provision for credit losses for the fourth quarter of 2024 was primarily driven by a $7.8 million day-one provision for credit losses and unfunded commitment reserve related to the HMNF acquisition.
The unearned fair value adjustments on acquired loan portfolios were $43.8 million and $70.6 million as of December 31, 2025 and 2024, respectively.
Capital
Total stockholders’ equity was $564.9 million as of December 31, 2025, an increase of $69.5 million from December 31, 2024. The change was primarily driven by an increase in accumulated other comprehensive income of $71.2 million. Tangible book value per common share (non-GAAP)(1) increased to $17.55 as of December 31, 2025, from $14.44 as of December 31, 2024. Tangible common equity to tangible assets (non-GAAP)(1) increased to 8.72% as of December 31, 2025, from 7.13% as of December 31, 2024. Common equity tier 1 capital to risk weighted assets increased to 10.28% as of December 31, 2025, from 9.91% as of December 31, 2024.
The following table presents our capital ratios as of the dates indicated:
December 31,
September 30,
December 31,
2025
2025
2024
Capital Ratios(1)
Alerus Financial Corporation Consolidated
Common equity tier 1 capital to risk weighted assets
10.28
%
10.84
%
9.91
%
Tier 1 capital to risk weighted assets
10.48
%
11.05
%
10.12
%
Total capital to risk weighted assets
12.87
%
13.41
%
12.49
%
Tier 1 capital to average assets
8.86
%
9.49
%
8.65
%
Tangible common equity / tangible assets(2)
8.72
%
8.24
%
7.13
%
Alerus Financial, N.A.
Common equity tier 1 capital to risk weighted assets
10.41
%
11.00
%
10.18
%
Tier 1 capital to risk weighted assets
10.41
%
11.00
%
10.18
%
Total capital to risk weighted assets
11.66
%
12.25
%
11.43
%
Tier 1 capital to average assets
8.62
%
9.31
%
8.69
%
_______________ (1) Capital ratios for the current quarter are to be considered preliminary until the Call Report for Alerus Financial, N.A. is filed.
(2) Represents a non-GAAP financial measure. See “Non-GAAP to GAAP Reconciliations and Calculation of Non-GAAP Financial Measures.”
Conference Call
The Company will host a conference call at 11:00 a.m. Central Time on Thursday, January 29, 2026, to discuss its financial results. Attendees are encouraged to register ahead of time for the call at investors.alerus.com. A recording of the call and transcript will be available on the Company’s investor relations website at investors.alerus.com following the call.
About Alerus Financial Corporation
Alerus Financial Corporation (Nasdaq: ALRS) is a commercial wealth bank and national retirement services provider with corporate offices in Grand Forks, North Dakota, and the Minneapolis-St. Paul, Minnesota metropolitan area. Through its subsidiary, Alerus Financial, National Association (the “Bank”), Alerus provides diversified and comprehensive financial solutions to business and consumer clients, including banking, wealth services, and retirement and benefit plans and services. Alerus provides clients with a primary point of contact to help fully understand their unique needs and delivery channel preferences. Clients are provided with competitive products, valuable insight, and sound advice supported by digital solutions designed to meet their needs.
Alerus operates 27 banking and commercial wealth offices, with locations in Grand Forks and Fargo, North Dakota; the Minneapolis-St. Paul, Minnesota metropolitan area; Rochester, Minnesota; Southern Minnesota; Marshalltown, Iowa; Pewaukee, Wisconsin; and Phoenix and Scottsdale, Arizona. The Alerus Retirement and Benefit business serves advisors, brokers, employers, and plan participants across the United States.
Non-GAAP Financial Measures
Some of the financial measures included in this press release are not measures of financial performance recognized by U.S. Generally Accepted Accounting Principles, or GAAP. These non-GAAP financial measures include the ratio of tangible common equity to tangible assets, tangible book value per common share, return on average tangible common equity, efficiency ratio, pre-provision net revenue, adjusted noninterest income, adjusted noninterest expense, adjusted pre-provision net revenue, adjusted efficiency ratio, adjusted net income, adjusted return on average total assets, adjusted return on average tangible common equity, net interest margin (tax-equivalent), adjusted earnings per common share – diluted, and adjusted net charge-offs to average loans. Management uses these non-GAAP financial measures in its analysis of its performance, and believes financial analysts and investors frequently use these measures, and other similar measures, to evaluate capital adequacy and financial performance. Reconciliations of non-GAAP disclosures used in this press release to the comparable GAAP measures are provided in the accompanying tables. Management, banking regulators, many financial analysts and other investors use these measures in conjunction with more traditional bank capital ratios to compare the capital adequacy of banking organizations with significant amounts of goodwill or other intangible assets, which typically stem from the use of the purchase accounting method of accounting for mergers and acquisitions.
These non-GAAP financial measures should not be considered in isolation or as a substitute for total stockholders’ equity, total assets, book value per share, return on average assets, return on average equity, or any other measure calculated in accordance with GAAP. Moreover, the manner in which the Company calculates these non-GAAP financial measures may differ from that of other companies reporting measures with similar names.
Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements include, without limitation, statements concerning plans, estimates, calculations, forecasts and projections with respect to the anticipated future performance of Alerus Financial Corporation. These statements are often, but not always, identified by words such as “may”, “might”, “should”, “could”, “predict”, “potential”, “believe”, “expect”, “continue”, “will”, “anticipate”, “seek”, “estimate”, “intend”, “plan”, “projection”, “would”, “annualized”, “target” and “outlook”, or the negative version of those words or other comparable words of a future or forward-looking nature. Examples of forward-looking statements include, among others, statements the Company makes regarding our projected growth, anticipated future financial performance, financial condition, credit quality, management’s long-term performance goals, and the future plans and prospects of Alerus Financial Corporation.
Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in forward-looking statements include, among others, the following: the strength of the local, state, national and international economies and financial markets (including effects of inflationary pressures and future monetary policies of the Federal Reserve and executive orders in response thereto); interest rate risk, including the effects of changes in interest rates; effects on the U.S. economy resulting from actions taken by the federal government, including the threat or implementation of tariffs, immigration enforcement and changes in foreign policy; disruptions to the global supply chain, including as a result of domestic or foreign policies; our ability to successfully manage credit risk, including in the commercial real estate portfolio, and maintain an adequate level of allowance for credit losses; business and economic conditions generally and in the financial services industry, nationally and within our market areas, including the level and impact of inflation rates and possible recession; our ability to raise additional capital to implement our business plan; credit risks and risks from concentrations (including by type of borrower, geographic area, collateral, and industry) within our loan portfolio; the concentration of large loans to certain borrowers (including commercial real estate loans); the level of nonperforming assets on our balance sheet; our ability to implement organic and acquisition growth strategies; the commencement, cost, and outcome of litigation and other legal proceedings and regulatory actions against us or to which the Company may become subject, including with respect to pending actions relating to the Company’s previous employee stock ownership program fiduciary services commenced by government and private parties; the impact of economic or market conditions on our fee-based services; our ability to continue to grow our retirement and benefit services business; our ability to continue to originate a sufficient volume of residential mortgages; the occurrence of fraudulent activity, breaches or failures of our or our third-party vendors’ information security controls or cybersecurity-related incidents, including as a result of sophisticated attacks using artificial intelligence and similar tools or as a result of insider fraud; interruptions involving our information technology and telecommunications systems or third-party servicers; potential losses incurred in connection with mortgage loan repurchases; the composition of our executive management team and our ability to attract and retain key personnel; rapid and expensive technological changes implemented by us and other parties in the financial services industry, including third-party vendors, which may be more difficult to implement or more expensive than anticipated or which may have unforeseen consequences to us and our customers, including the development and implementation of tools incorporating artificial intelligence; increased competition in the financial services industry, including from non-banks such as credit unions, Fintech companies and digital asset service providers; our ability to successfully manage liquidity risk, including our need to access higher cost sources of funds such as fed funds purchased and short-term borrowings; the concentration of large deposits from certain clients, including those who have balances above current Federal Deposit Insurance Corporation insurance limits; the effectiveness of our risk management framework; potential impairment to the goodwill the Company recorded in connection with our past acquisitions, including the acquisitions of Metro Phoenix Bank and HMNF; the extensive regulatory framework that applies to us; the ability of the Bank to pay dividends to us and our ability to pay dividends to our stockholders; new or revised accounting standards, as may be adopted by state and federal regulatory agencies, the Financial Accounting Standards Board, the Securities and Exchange Commission (the “SEC”) or the Public Company Accounting Oversight Board; fluctuations in the values of the securities held in our securities portfolio, including as a result of changes in interest rates; governmental monetary, trade and fiscal policies; risks related to climate change and the negative impact it may have on our customers and their businesses; severe weather and natural disasters, and widespread disease or pandemics; acts of war, military conflicts, or terrorism, including ongoing conflicts in the Middle East, the Russian invasion of Ukraine and the recent military actions in Venezuela, or other adverse external events and changes in foreign relations; any material weaknesses in our internal control over financial reporting; our success at managing and responding to the risks involved in the foregoing items; and any other risks described in the “Risk Factors” sections of the reports filed by Alerus Financial Corporation with the SEC.
Any forward-looking statement made by us in this press release is based only on information currently available to us and speaks only as of the date on which it is made. The Company undertakes no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.
Alerus Financial Corporation and Subsidiaries Consolidated Balance Sheets (dollars in thousands, except share and per share data)
December 31,
December 31,
2025
2024
Assets
(Unaudited)
Cash and cash equivalents
$
67,192
$
61,239
Investment securities
Trading, at fair value
1,758
3,309
Available-for-sale, at fair value
514,095
588,053
Held-to-maturity, at amortized cost (with an allowance for credit losses on investments of $123 and $131, respectively)
254,448
275,585
Loans held for sale
21,934
16,518
Loans held for investment
4,048,022
3,992,534
Allowance for credit losses on loans
(61,915
)
(59,929
)
Net loans
3,986,107
3,932,605
Land, premises and equipment, net
43,253
39,780
Operating lease right-of-use assets
28,761
13,438
Accrued interest receivable
21,742
20,075
Bank-owned life insurance
39,307
36,033
Goodwill
85,634
85,634
Other intangible assets
33,371
43,882
Servicing rights
6,383
7,918
Deferred income taxes, net
23,080
52,885
Other assets
103,019
84,719
Total assets
$
5,230,084
$
5,261,673
Liabilities and Stockholders’ Equity
Deposits
Noninterest-bearing
$
807,896
$
903,466
Interest-bearing
3,384,107
3,474,944
Total deposits
4,192,003
4,378,410
Short-term borrowings
308,800
238,960
Long-term debt
59,182
59,069
Operating lease liabilities
36,282
18,991
Accrued expenses and other liabilities
68,883
70,833
Total liabilities
4,665,150
4,766,263
Stockholders’ equity
Preferred stock, $1 par value, 2,000,000 shares authorized: 0 issued and outstanding
—
—
Common stock, $1 par value, 60,000,000 and 30,000,000 shares authorized: 25,406,278 and 25,344,803 issued and outstanding
25,406
25,345
Additional paid-in capital
271,609
269,708
Retained earnings
270,075
273,723
Accumulated other comprehensive loss
(2,156
)
(73,366
)
Total stockholders’ equity
564,934
495,410
Total liabilities and stockholders’ equity
$
5,230,084
$
5,261,673
Alerus Financial Corporation and Subsidiaries Consolidated Statements of Income (dollars and shares in thousands, except per share data)
Three months ended
Year ended
December 31,
September 30,
December 31,
December 31,
December 31,
2025
2025
2024
2025
2024
Interest Income
(Unaudited)
(Unaudited)
(Unaudited)
(Unaudited)
Loans, including fees
$
64,477
$
63,875
$
60,009
$
253,699
$
183,560
Investment securities
Taxable
4,592
5,091
5,737
20,699
19,745
Exempt from federal income taxes
160
160
166
640
679
Other
1,158
1,518
1,395
4,598
17,595
Total interest income
70,387
70,644
67,307
279,636
221,579
Interest Expense
Deposits
21,998
24,350
25,521
92,641
89,243
Short-term borrowings
2,570
2,506
2,837
11,897
22,584
Long-term debt
645
652
665
2,599
2,707
Total interest expense
25,213
27,508
29,023
107,137
114,534
Net interest income
45,174
43,136
38,284
172,499
107,045
Provision for credit losses
(308
)
—
11,992
556
18,141
Net interest income after provision for credit losses
45,482
43,136
26,292
171,943
88,904
Noninterest (Loss) Income
Retirement and benefit services
17,260
16,496
16,488
65,885
64,365
Wealth management
7,438
6,560
7,010
28,265
26,171
Mortgage banking
3,203
3,474
3,277
11,855
10,073
Service charges on deposit accounts
734
703
644
2,768
1,976
Net gains (losses) on investment securities
(68,403
)
—
—
(68,403
)
—
Gain (loss) on sale of non-mortgage loans
—
(35
)
—
2,080
—
Other
2,819
2,232
6,455
9,426
12,345
Total noninterest (loss) income
(36,949
)
29,430
33,874
51,876
114,930
Noninterest Expense
Compensation
25,169
24,984
26,657
97,457
87,311
Employee taxes and benefits
6,325
6,094
6,245
26,815
22,967
Occupancy and equipment expense
3,658
2,849
1,963
11,973
7,766
Business services, software and technology expense
6,794
6,285
6,935
24,699
21,758
Intangible amortization expense
2,382
2,710
2,804
10,511
6,776
Professional fees and assessments
3,089
2,676
10,964
11,100
19,597
Marketing and business development
1,016
1,069
1,050
3,837
3,249
Supplies and postage
764
569
726
2,454
2,046
Travel
409
385
449
1,428
1,403
Mortgage and lending expenses
626
1,025
571
3,127
2,162
Other
1,649
1,895
2,093
7,826
5,640
Total noninterest expense
51,881
50,541
60,457
201,227
180,675
(Loss) Income before income tax (benefit) expense
(43,348
)
22,025
(291
)
22,592
23,159
Income tax (benefit) expense
(10,298
)
5,101
(225
)
5,153
5,379
Net income (loss)
$
(33,050
)
$
16,924
$
(66
)
$
17,439
$
17,780
Per Common Share Data
Earnings (loss) per common share
$
(1.28
)
$
0.66
$
—
$
0.69
$
0.84
Diluted earnings (loss) per common share
$
(1.27
)
$
0.65
$
—
$
0.68
$
0.83
Dividends declared per common share
$
0.21
$
0.21
$
0.20
$
0.83
$
0.79
Average common shares outstanding
25,398
25,395
24,857
25,380
21,047
Diluted average common shares outstanding
25,710
25,713
25,144
25,697
21,321
Alerus Financial Corporation and Subsidiaries Non-GAAP to GAAP Reconciliations and Calculation of Non-GAAP Financial Measures (unaudited) (dollars and shares in thousands, except per share data)
December 31,
September 30,
December 31,
2025
2025
2024
Tangible Common Equity to Tangible Assets
Total common stockholders’ equity
$
564,934
$
550,687
$
495,410
Less: Goodwill
85,634
85,634
85,634
Less: Other intangible assets
33,371
35,753
43,882
Tangible common equity (a)
445,929
429,300
365,894
Total assets
5,230,084
5,330,572
5,261,673
Less: Goodwill
85,634
85,634
85,634
Less: Other intangible assets
33,371
35,753
43,882
Tangible assets (b)
5,111,079
5,209,185
5,132,157
Tangible common equity to tangible assets (a)/(b)
8.72
%
8.24
%
7.13
%
Tangible Book Value Per Common Share
Tangible common equity (a)
445,929
429,300
365,894
Total common shares issued and outstanding (c)
25,406
25,397
25,345
Tangible book value per common share (a)/(c)
$
17.55
$
16.90
$
14.44
Three months ended
Year ended
December 31,
September 30,
December 31,
December 31,
December 31,
2025
2025
2024
2025
2024
Return on Average Tangible Common Equity
Net (loss) income
$
(33,050
)
$
16,924
$
(66
)
$
17,439
$
17,780
Add: Intangible amortization expense (net of tax)(1)
1,882
2,141
2,215
8,304
5,353
Net income, excluding intangible amortization (d)
(31,168
)
19,065
2,149
25,743
23,133
Average total equity
552,106
524,459
478,092
525,323
397,738
Less: Average goodwill
85,634
85,634
84,393
85,634
56,237
Less: Average other intangible assets (net of tax) (1)
Net gain (loss) on sale/disposal of premises and equipment
(445
)
—
3,459
(530
)
3,941
Total adjusted noninterest (loss) income items (h)
(68,848
)
(35
)
3,459
(66,853
)
3,941
Adjusted noninterest income (i)
$
31,899
$
29,465
$
30,415
$
118,729
$
110,989
Adjusted Noninterest (Loss) Income as a Percentage of Revenue
Adjusted noninterest income (i)
$
31,899
$
29,465
$
30,415
$
118,729
$
110,989
Net interest income (v)
45,174
43,136
38,284
172,499
107,045
Adjusted revenue (w)
$
77,073
$
72,601
$
68,699
$
291,228
$
218,034
Adjusted noninterest (loss) income as a percentage of revenue (i)/(w)
41.39
%
40.58
%
44.27
%
40.77
%
50.90
%
Adjusted Noninterest Expense
Noninterest expense
$
51,881
$
50,541
$
60,457
$
201,227
$
180,675
Less: Adjusted noninterest expense items
HMNF merger- and acquisition-related expenses
(112
)
(43
)
7,729
142
9,980
Severance and signing bonus expense
212
104
2,276
1,319
2,901
Total adjusted noninterest expense items (j)
100
61
10,005
1,461
12,881
Adjusted noninterest expense (k)
$
51,781
$
50,480
$
50,452
$
199,766
$
167,794
_______________ (1) Items calculated after-tax utilizing a marginal income tax rate of 21.0%.
Alerus Financial Corporation and Subsidiaries Non-GAAP to GAAP Reconciliations and Calculation of Non-GAAP Financial Measures (unaudited) (dollars and shares in thousands, except per share data)
Three months ended
Year ended
December 31,
September 30,
December 31,
December 31,
December 31,
2025
2025
2024
2025
2024
Adjusted Pre-Provision Net Revenue
Net interest income (v)
$
45,174
$
43,136
$
38,284
$
172,499
$
107,045
Add: Adjusted noninterest income (i)
31,899
29,465
30,415
118,729
110,989
Less: Adjusted noninterest expense (k)
51,781
50,480
50,452
199,766
167,794
Adjusted pre-provision net revenue
$
25,292
$
22,121
$
18,247
$
91,462
$
50,240
Adjusted Efficiency Ratio
Adjusted noninterest expense (k)
$
51,781
$
50,480
$
50,452
$
199,766
$
167,794
Less: Intangible amortization expense
2,382
2,710
2,804
10,511
6,776
Adjusted noninterest expense for efficiency ratio (l)
49,399
47,770
47,648
189,255
161,018
Tax-equivalent revenue
Net interest income (v)
45,174
43,136
38,284
172,499
107,045
Add: Adjusted noninterest income (i)
31,899
29,465
30,415
118,729
110,989
Add: Tax-equivalent adjustment
654
638
385
2,402
1,202
Total tax-equivalent revenue (m)
77,727
73,239
69,084
293,630
219,236
Adjusted efficiency ratio (l)/(m)
63.55
%
65.22
%
68.97
%
64.45
%
73.45
%
Adjusted Net Income
Net (loss) income
$
(33,050
)
$
16,924
$
(66
)
$
17,439
$
17,780
Less: Adjusted noninterest (loss) income items (net of tax) (1) (h)
(54,390
)
(28
)
2,733
(52,814
)
3,113
Add: HMNF day one provision for credit losses and unfunded commitments (net of tax) (1)
—
—
6,140
—
6,140
Add: Adjusted noninterest expense items (net of tax)(1)(j)
79
48
7,904
1,154
10,176
Adjusted net income (n)
$
21,419
$
17,000
$
11,245
$
71,407
$
30,983
Adjusted Return on Average Total Assets
Average total assets (o)
$
5,252,046
$
5,273,306
$
5,272,777
$
5,277,867
$
4,503,483
Adjusted return on average total assets (n)/(o)
1.62
%
1.28
%
0.85
%
1.35
%
0.69
%
Adjusted Return on Average Tangible Common Equity
Adjusted net income (n)
$
21,419
$
17,000
$
11,245
$
71,407
$
30,983
Add: Intangible amortization expense (net of tax)(1)
1,882
2,141
2,215
8,304
5,353
Adjusted net income, excluding intangible amortization (p)
23,301
19,141
13,460
79,711
36,336
Average total equity
552,106
524,459
478,092
525,323
397,738
Less: Average goodwill
85,634
85,634
84,393
85,634
56,237
Less: Average other intangible assets (net of tax)
27,270
29,540
34,107
30,470
17,534
Average tangible common equity (q)
439,202
409,285
359,592
409,219
323,967
Adjusted return on average tangible common equity (p)/(q)
21.05
%
18.55
%
14.89
%
19.48
%
11.22
%
Adjusted Earnings Per Common Share – Diluted
Adjusted net income (n)
$
21,419
$
17,000
$
11,245
$
71,407
$
30,983
Less: Dividends and undistributed earnings allocated to participating securities
(462
)
148
(54
)
(29
)
37
Adjusted net income available to common stockholders (r)
21,881
16,852
11,299
71,436
30,946
Weighted-average common shares outstanding for diluted earnings per share (s)
25,710
25,713
25,144
25,697
21,321
Adjusted earnings per common share – diluted (r)/(s)
$
0.85
$
0.66
$
0.45
$
2.78
$
1.45
Adjusted Net Charge-Offs to Average Loans
Net charge-offs (recoveries)
$
(311
)
$
(1,715
)
$
1,258
$
2,148
$
4,154
Less: Charge-off of PCD reserves on loans transferred to non-mortgage loans held for sale
—
—
—
3,053
—
Adjusted net charge-offs (recoveries) (t)
(311
)
(1,715
)
1,258
(905
)
4,154
Average total loans (u)
$
4,049,082
$
4,036,936
$
3,814,934
$
4,047,034
$
3,099,015
Adjusted net charge-offs (recoveries) to average loans (t)/(u)
(0.03
)%
(0.17
)%
0.13
%
(0.02
)%
0.13
%
_______________ (1) Items calculated after-tax utilizing a marginal income tax rate of 21.0%.
Alerus Financial Corporation and Subsidiaries Analysis of Average Balances, Yields, and Rates (unaudited) (dollars in thousands)
Three months ended
Year ended
December 31, 2025
September 30, 2025
December 31, 2024
December 31, 2025
December 31, 2024
Average Balance
Average Yield/ Rate
Average Balance
Average Yield/ Rate
Average Balance
Average Yield/ Rate
Average Balance
Average Yield/ Rate
Average Balance
Average Yield/ Rate
Interest Earning Assets
Interest-bearing deposits with banks
$
57,008
4.68
%
$
89,568
4.86
%
$
74,217
5.34
%
$
54,150
4.90
%
$
299,666
5.39
%
Investment securities(1)
775,091
2.45
796,759
2.64
883,116
2.68
813,474
2.64
791,111
2.60
Loans held for sale
21,715
4.81
20,188
4.93
15,409
5.60
18,920
4.80
14,180
5.90
Loans
Commercial and industrial
699,982
7.35
650,787
7.51
616,356
7.28
665,635
7.42
588,269
7.23
CRE − Construction, land and development
322,068
9.20
363,466
5.77
250,869
6.33
341,533
6.65
172,700
6.77
CRE − Multifamily
371,925
6.15
340,709
6.46
351,804
6.50
356,019
6.41
272,125
5.87
CRE − Non-owner occupied(2)
846,558
6.16
887,935
6.26
1,002,857
6.68
912,066
6.41
712,734
6.14
CRE − Owner occupied
429,087
6.18
435,469
7.73
293,169
6.56
421,997
6.62
286,540
5.71
Agricultural − Land
65,995
6.42
66,676
5.53
59,400
5.73
66,483
5.89
45,729
5.10
Agricultural − Production
63,408
6.78
64,685
6.80
58,999
7.36
64,118
7.05
43,361
6.89
RRE − First lien
884,293
4.81
898,011
4.83
904,414
4.50
895,225
4.83
747,874
4.17
RRE − Construction
34,858
6.74
33,834
6.61
31,722
9.74
36,309
7.37
22,832
6.58
RRE − HELOC
249,844
6.38
213,232
6.82
153,344
7.60
205,287
6.79
131,617
8.02
RRE − Junior lien
38,167
6.47
40,997
6.40
47,041
6.25
41,406
6.37
38,982
6.24
Other consumer
42,897
6.53
41,135
6.94
44,959
7.19
40,956
6.87
36,252
6.81
Total loans(1)
4,049,082
6.35
4,036,936
6.31
3,814,934
6.27
4,047,034
6.30
3,099,015
5.93
Federal Reserve/FHLB stock
23,634
8.16
22,398
7.46
20,717
7.66
24,142
8.05
17,901
8.12
Total interest earning assets
4,926,530
5.72
4,965,849
5.70
4,808,393
5.60
4,957,720
5.69
4,221,873
5.28
Noninterest earning assets
325,516
307,457
464,384
320,147
281,610
Total assets
$
5,252,046
$
5,273,306
$
5,272,777
$
5,277,867
$
4,503,483
Interest-Bearing Liabilities
Interest-bearing demand deposits
$
1,305,972
1.72
%
$
1,227,029
1.80
%
$
1,209,674
1.98
%
$
1,257,069
1.78
%
$
1,010,888
2.12
%
Money market and savings deposits
1,592,569
2.72
1,587,694
2.84
1,520,616
3.15
1,583,232
2.81
1,250,939
3.60
Time deposits
600,966
3.57
772,345
3.81
698,358
4.24
687,320
3.76
518,826
4.39
Fed funds purchased and BTFP
35,617
4.20
16,636
4.94
22,012
4.93
62,618
4.60
249,180
4.95
FHLB short-term advances
207,065
4.20
200,000
4.56
200,000
5.10
201,781
4.47
200,000
5.12
Long-term debt
59,169
4.32
59,137
4.37
59,055
4.48
59,126
4.40
59,013
4.59
Total interest-bearing liabilities
3,801,358
2.63
3,862,841
2.83
3,709,715
3.11
3,851,146
2.78
3,288,846
3.48
Noninterest-Bearing Liabilities and Stockholders’ Equity
Noninterest-bearing deposits
797,521
800,028
847,153
813,785
704,463
Other noninterest-bearing liabilities
101,061
85,978
237,817
87,613
112,436
Stockholders’ equity
552,106
524,459
478,092
525,323
397,738
Total liabilities and stockholders’ equity
$
5,252,046
$
5,273,306
$
5,272,777
$
5,277,867
$
4,503,483
Net interest rate spread
3.09
%
2.87
%
2.49
%
2.91
%
1.80
%
Net interest margin, tax-equivalent(1)
3.69
%
3.50
%
3.20
%
3.53
%
2.56
%
_______________ (1) Taxable-equivalent adjustment was calculated utilizing a marginal income tax rate of 21.0%. (2) Average balances and average yield/rate includes non-mortgage loans sold and held for sale for the three months ended December 31, 2025 and the year ended December 31, 2025.
Alan A. Villalon, Chief Financial Officer 952.417.3733 (Office)
American Hartford Gold Delivers Over $4 Billion in Precious Metals
PR Newswire
LOS ANGELES, Jan. 28, 2026
A major milestone highlights strong growth and client trust
LOS ANGELES, Jan. 28, 2026 /PRNewswire/ — American Hartford Gold (AHG), the nation’s largest retailer of physical gold and silver, is proud to announce a major milestone: over $4 billion in precious metals delivered to clients nationwide. This achievement reflects AHG’s continued growth and its steadfast commitment to client education and service. It also underscores the rising number of Americans seeking financial security through physical precious metals.
Founded in 2015, American Hartford Gold has grown from a small startup into one of the most trusted names in the industry. Tens of thousands of clients have turned to AHG to protect their savings with physical gold, silver, and platinum, whether shipped directly for home delivery or placed inside a self-directed retirement account.
“This is a tremendous moment for our company and for our clients,” said Sanford Mann, CEO of American Hartford Gold. “Crossing the $4 billion mark is more than a measure of growth. It’s a testament to the trust our clients place in us to help safeguard their financial future. Our mission has always been to provide clarity, education, and real solutions during uncertain economic times, and that mission is more important today than ever.”
AHG’s surge in demand has been matched by significant investments in expansion, infrastructure, and client service. Recent growth includes new office locations, expanded fulfillment capabilities, and continued enhancements to training and resources for its dedicated team of account specialists.
“Our clients deserve guidance that is personal, informed, and reliable,” said Max Baecker, President of American Hartford Gold. “Reaching $4 billion delivered shows that families across the country are choosing AHG because of our transparency, our service, and our unwavering commitment to helping them achieve long-term financial security.”
With economic volatility, geopolitical tensions, and shifting market conditions, more Americans are turning to physical precious metals as a way to diversify and protect their savings. AHG continues to lead the industry by offering competitive pricing, investment-grade products, a straightforward buy-back commitment, and no back-end fees.
Clients can buy gold and silver for home delivery or place eligible metals inside a Gold IRA, providing an additional layer of retirement protection.
For more information about purchasing precious metals or opening a Gold IRA, call 866-342-2257 or visit www.americanhartfordgold.com.
About American Hartford Gold
American Hartford Gold (AHG) is the nation’s largest retailer of gold and silver, helping Americans secure their savings with physical precious metals. The company has earned multiple placements on the Inc. 5000 List of America’s Fastest-Growing Private Companies, holds an A+ rating with the Better Business Bureau (BBB), and maintains a 5-star rating on Trustpilot with thousands of verified reviews. AHG offers investment-grade gold, silver, and platinum at competitive pricing, along with a simple buy-back commitment and no back-end fees. American Hartford Gold is the only precious metals company trusted and recommended by Bill O’Reilly.
WINNIPEG, MB: Simply Radiant Aesthetics, a medical spa and laser clinic in Winnipeg, is proud to introduce Sofwave™ treatments to Manitoba. The clinic acquired the Sofwave™ device in the fall; before Simply Radiant bought the device, Winnipeggers had to travel to Toronto or Vancouver to be able to access this cutting-edge, state-of-the-art treatment.
Sofwave™ is a clinically proven technology that effectively reduces the appearance of facial wrinkles, lifts, tones, and tightens skin by stimulating new elastin and collagen. The treatment is safe for all skin types and is completely non-invasive. A full face treatment takes about an hour, an hour and a half and has no downtime, making Sofwave™ perfect for people living active lifestyles and seeking safe, effective skin rejuvenation.
Created in 2016, Sofwave™ has received several endorsements and accolades, including celebrity endorsements from the Kardashians, who have called it their “new best friend” and said, “Sofwave is worth it.”
“We are thrilled to be the first and only Sofwave™ treatment provider in Manitoba,” says Marlene Ross, the owner of Simply Radiant Aesthetics. “Everyone deserves to look their best. I encourage anyone reading this who has been curious about Sofwave™ or non-invasive skin care solutions to visit us; you can have more radiant, more beautiful, tighter, younger-looking skin in just a couple of hours. We hope to see you soon!”
Simply Radiant Aesthetics is a full-service medical aesthetics and laser clinic serving clients in Winnipeg and the surrounding area. Along with Sofwave™, Simply Radiant offers a number of other treatments, including Botox and Dysport, dermal fillers, chemical peels, facials, microneedling, laser hair removal, IPL for acne and pigmentation, Morpheus8, skin resurfacing, PRP treatments, and LAMPROBE. The clinic also offers complimentary consultations to help clients find the right skincare solutions for their needs.
Name Simply Radiant Aesthetics Contact name Marlene Ross Contact phone (204) 269-7445 Contact address 1686 Pembina Hwy City Winnipeg State MB Zip R3T 2G2 Country Canada Url https://simplyradiantaesthetics.ca/
United States, 28th Jan 2026, – Quantara has announced the availability of its blockchain infrastructure platform designed for use in institutional, enterprise, and public-sector environments. The platform is intended to support applications that require data integrity, auditability, and long-term operational stability.
The Quantara infrastructure includes a secure digital wallet, an application layer for enterprise and public-sector systems, and a blockchain network designed for extended operational lifecycles. The platform is structured to support settlement processes, system-level transactions, and application-driven economic activity.
According to the company, the infrastructure has been developed for organizations that require predictable system behavior, verifiable records, and cryptographic validation across distributed environments. The platform is designed to operate independently of trading-focused mechanisms and is not positioned as a speculative exchange.
Quantara stated that the infrastructure is intended for use across sectors including government and public administration, banking and financial services, healthcare, energy and utilities, legal and compliance systems, education and research, and data-driven industries.
The company indicated that security and system integrity are central to the platform’s design. The infrastructure incorporates deterministic system architecture and cryptographic verification methods, with a development roadmap that includes support for post-quantum security standards.
Quantara’s platform is being positioned as a foundational technology layer for organizations seeking blockchain-based systems with long-term operational requirements.
Badger Meter, Inc. (NYSE: BMI) today reported results for the fourth quarter and full year ended December 31, 2025.
Fourth Quarter 2025 Highlights
Total sales of $220.7 million, 8% higher than the prior year’s $205.2 million. Base1 sales of $208.9 million increased 2% year-over-year.
Operating earnings increased 10% year-over-year to $43.0 million, with operating profit margins of 19.5% versus 19.1% in the prior-year quarter. Base operating earnings of $42.8 million increased 9% year-over-year, with Base operating profit margins of 20.5%. As expected, SmartCover® profitability improved as a result of ongoing sales volume increases, focused cost management and expense leverage.
Diluted earnings per share (EPS) increased 10% to $1.14 compared to $1.04 in the prior-year quarter.
Robust cash provided by operations of $54.8 million.
Full Year 2025 Highlights
Record sales of $916.7 million, 11% higher than the prior year’s $826.6 million. Base sales of $877.0 million increased 6% year-over-year. SmartCover delivered sales of approximately $40.0 million in the 11 months since acquisition, reflecting nearly 25% pro-forma growth on an annualized basis.
Software as a Service (SaaS) sales of approximately $74 million, reflecting a 27% year-over-year increase on continued penetration of cellular advanced metering infrastructure (AMI) and the acquisition of SmartCover.
Operating earnings increased 16% year-over-year to $183.4 million, with operating profit margins of 20.0% versus 19.1% in the prior year. Base operating earnings of $185.2 million increased 17% year-over-year, with Base operating profit margins of 21.1% or a 200-basis point improvement year-over-year.
Diluted EPS increased 13% to $4.79, up from $4.23 in 2024.
Record cash provided by operations of $183.7 million.
Kenneth C. Bockhorst, Chairman, President and Chief Executive Officer, remarked, “Our full year 2025 results included another year of record sales, profitability and cash flow. Sustained demand for our smart water management solutions drove solid performance across the entire BlueEdge® portfolio. Several recently-completed AMI projects, and awarded projects that will begin implementation in 2026, reinforce the tangible benefits that drive adoption of our industry-leading cellular AMI solution.
Additionally, we deployed capital on-hand to acquire SmartCover in early 2025, expanding our comprehensive suite of tailorable solutions to include broader sewer monitoring and stormwater management hardware and software capabilities. Adding SmartCover to our BlueEdge suite of smart water management solutions positions us for long-term growth across the entire water cycle. I would like to thank the entire Badger Meter team for demonstrating agility throughout 2025 as we navigated unpredictable global trade conditions, continued to support our customers in their adoption of our market-leading solutions and successfully executed the acquisition and integration of SmartCover.”
1All adjusted metrics (“Base”) referenced in this news release are non-GAAP measures that exclude the contribution of SmartCover, acquired in January 2025. Please refer to the appendix for reconciliations of these non-GAAP measures to their most comparable GAAP measures.
Fourth Quarter Operating Results
Utility water sales grew 9% year-over-year, or 2% excluding SmartCover. Ongoing customer adoption of digital smart water solutions, including increased sales of ultrasonic meters, ORION® Cellular radios, BEACON® SaaS, and water quality solutions, were the primary drivers of growth compared to the prior-year quarter. As expected, fewer operating days in the fourth quarter and previously-communicated project pacing effects contributed to the 6% sequential decline in utility water sales versus the third quarter of 2025, illustrating the long-standing and inherent top-line unevenness that can occur quarter-to-quarter and year-to-year, regardless of underlying market conditions.
Sales of flow instrumentation products remained largely flat year-over-year with modest growth in the water-focused end markets offsetting declines across the array of de-emphasized applications.
Operating earnings increased 10% year-over-year to $43.0 million, with operating profit margins expanding 40 basis points to 19.5%. Base operating earnings of $42.8 million increased 9.0% year-over-year, driving 140 basis points of Base operating margin expansion. Gross margin was up 180 basis points to 42.1% from the prior-year quarter. Gross margin continued to benefit from structural sales mix driven by ultrasonic meters, cellular AMI, water quality, and SmartCover sales, which were above line average. Additionally, the same project pacing effects that impacted utility water sales benefited margins due to lower pass-through revenue such as meter installation and ancillary meter pit supplies, which tend to be below line average.
Total Selling, Engineering and Administration (SEA) expenses increased by $6.4 million year-over-year to $49.9 million, due primarily to the addition of SmartCover, including $1.6 million of intangible asset amortization. Base SEA expense increased $1.3 million, or 2.9% year-over-year. In total, SEA as a percent of sales increased to 22.6% from 21.2% in the prior-year quarter, with Base SEA as a percent of sales increasing a modest 30 basis points.
The tax rate for the fourth quarter of 2025 was 24.8% compared to 27.1% in the prior-year comparable period. As a result of the above, combined with lower interest income year-over-year, EPS was $1.14, an increase of 10% compared to $1.04 in the prior-year quarter.
Full Year 2025 Recap
Bockhorst continued, “I’m proud of our performance in 2025, delivering double-digit revenue growth, profit margin expansion and record free cash flow conversion. Durable demand, driven by long-term secular trends favoring the adoption of smart water management solutions, continues to support robust and profitable top-line growth.
“In 2025, we increased our normalized gross margin range from 38-40% to 39-42% to reflect the structural mix benefit that corresponds with expanding our installed base of software-enabled solutions. Finally, disciplined execution in both the Base business and throughout the SmartCover integration supported another year of robust free cash flow generation.
“Nearly two years after the formal launch of our BlueEdge suite of comprehensive smart water management solutions, I’m thrilled with our robust opportunity funnel spanning both customer water usage and beyond the meter applications. We now address a comprehensive range of common, but complex challenges across the water cycle from source water monitoring to wastewater management. Our growing list of BlueEdge-enabled customers highlights the benefits of pressure management, leak detection, water quality and network monitoring applications. The strength of our balance sheet enables us to continue our capital allocation priorities of R&D leadership, returning cash to shareholders and executing value-creating acquisitions, like SmartCover, to further assist customers in addressing their water infrastructure challenges.”
Badger Meter Selected to Modernize Puerto Rico’s Water Infrastructure
Following a rigorous multi‑year competitive pilot, the Puerto Rico Aqueduct and Sewer Authority (PRASA) selected Badger Meter’s advanced metering infrastructure (AMI) solutions for a project designed to strengthen the island’s water system resiliency. PRASA will use Badger Meter’s cellular AMI solution, featuring E‑Series® Ultrasonic meters, ORION Cellular endpoints, and BEACON SaaS. The project, one of the world’s largest AMI deployments, will enhance operational efficiency, reduce non‑revenue water and streamline billing activities for 1.6 million service connections.
Outlook
Bockhorst concluded, “We enter 2026 with the same conviction in our ability to deliver, over a forward five-year time horizon, high single-digit sales growth, year-over-year operating profit margin expansion, and free cash flow conversion in excess of 100% of earnings. The key drivers enabling these long-term outcomes include growing the installed base of our industry-leading cellular AMI solution, accelerating the adoption of BlueEdge technologies, and targeting value-accretive international expansion opportunities. Our selection for the transformative PRASA AMI project is just one illustrative example of the types of projects that inform this forward growth outlook.
“The second half of 2025 included a concentrated mix of concluding AMI turnkey projects, resulting in Base revenue growth that was lower than our five-year forward outlook. Looking ahead, we expect this dynamic to persist through the first half of 2026, until several awarded projects begin multi-year turnkey deployments.
“Our track record of disciplined execution and innovation has consistently delivered strong shareholder returns over the long run. As we advance technologies that enable utilities to manage and protect the world’s most precious resource, we remain well-positioned to capitalize on a robust pipeline of growth opportunities. This ongoing commitment to operational excellence and strategic investment supports our ability to deliver differentiated solutions, drive long-term value creation, and address the evolving needs of our customers.”
Conference Call and Webcast Information
Badger Meter management will hold a conference call to discuss the Company’s fourth quarter and full year 2025 results today, Wednesday January 28, 2026 at 10:00 AM Central/11:00 AM Eastern time. A live listen-only webcast and the related presentation will be available on the Events & Presentations section of the Company’s investor relations website. Individuals wishing to participate in the call should use this online registration link: https://events.q4inc.com/analyst/249539465?pwd=bn49BzDU.
Safe Harbor Statement
Certain statements contained in this news release, as well as other information provided from time to time by Badger Meter, Inc. (the “Company”) or its employees, may contain forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those statements. The Company’s results are subject to general economic conditions, variation in demand from customers, continued market acceptance of new products, the successful integration of acquisitions, competitive pricing and operating efficiencies, supply chain risk, material and labor cost increases, tax reform and foreign currency risk. See the Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission for further information regarding risk factors, which are incorporated herein by reference. Badger Meter disclaims any obligation to publicly update or revise any forward-looking statements as a result of new information, future events or any other reason.
Non-GAAP Measures
In addition to the financial measures prepared in accordance with generally accepted accounting principles (GAAP), this news release also contains non-GAAP (“Base”) measures. Reconciliations of these measures to the most comparable GAAP measures can be found in the supplemental reconciliation schedule attached.
Each of the non-GAAP (“Base”) measures referenced in this news release and associated reconciliation tables should be considered in addition to, and not as a replacement for or superior to, the comparable GAAP measure. Management believes that these Base measures provide useful information to investors and other stakeholders by facilitating year-over-year comparisons of Badger Meter’s Base operating results in the first year following an acquisition. All Base measures referenced herein exclude the contribution of SmartCover.
About Badger Meter
With more than a century of water technology innovation, Badger Meter provides comprehensive water management solutions through its BlueEdge® suite. This tailorable portfolio of smart measurement hardware, reliable communications, data visualization and analytics software and ongoing support and industry expertise give customers the edge in optimizing their operations and contributing to the sustainable use and protection of the world’s most precious resource. For more information, visit www.badgermeter.com.
BADGER METER, INC.
CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS
(in thousands, except share and earnings per share data)
Three Months Ended December 31,
Twelve Months Ended December 31,
2025
2024
2025
2024
(Unaudited)
(Unaudited)
(Unaudited)
Net sales
$
220,706
$
205,182
$
916,663
$
826,558
Cost of sales
127,719
122,422
534,593
497,374
Gross margin
92,987
82,760
382,070
329,184
Selling, engineering and administration
49,938
43,537
198,649
171,248
Operating earnings
43,049
39,223
183,421
157,936
Interest income, net
(1,565
)
(2,924
)
(5,124
)
(8,613
)
Other pension and postretirement (income) costs
(28
)
12
(112
)
49
Earnings before income taxes
44,642
42,135
188,657
166,500
Provision for income taxes
11,067
11,418
47,023
41,558
Net earnings
$
33,575
$
30,717
$
141,634
$
124,942
Earnings per share:
Basic
$
1.14
$
1.05
$
4.82
$
4.26
Diluted
$
1.14
$
1.04
$
4.79
$
4.23
Shares used in computation of earnings per share:
Basic
29,375,279
29,368,656
29,398,469
29,355,741
Diluted
29,542,816
29,559,950
29,569,496
29,533,543
BADGER METER, INC.
CONSOLIDATED CONDENSED BALANCE SHEETS
(in thousands)
Assets
December 31,
December 31,
2025
2024
(Unaudited)
Cash and cash equivalents
$
226,016
$
295,305
Receivables
112,356
84,325
Inventories
151,935
143,408
Other current assets
16,770
17,078
Total current assets
507,077
540,116
Net property, plant and equipment
79,636
74,260
Intangible assets, at cost less accumulated amortization
118,496
45,066
Other long-term assets
32,793
45,201
Goodwill
235,575
111,770
Total assets
$
973,577
$
816,413
Liabilities and Shareholders’ Equity
Payables
$
72,299
$
55,659
Accrued compensation and employee benefits
37,619
34,912
Other current liabilities
40,798
27,634
Total current liabilities
150,716
118,205
Deferred income taxes
3,477
3,652
Long-term deferred revenue, employee benefits and other
106,090
88,324
Shareholders’ equity
713,294
606,232
Total liabilities and shareholders’ equity
$
973,577
$
816,413
BADGER METER, INC.
CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS
(in thousands)
Three Months Ended December 31,
Twelve Months Ended December 31,
2025
2024
2025
2024
(Unaudited)
(Unaudited)
(Unaudited)
Operating activities:
Net earnings
$
33,575
$
30,717
$
141,634
$
124,942
Adjustments to reconcile net earnings to net cash provided by operations:
Depreciation
2,777
2,773
11,103
11,103
Amortization
6,023
5,295
23,481
21,082
Deferred income taxes
(854
)
(11,074
)
(854
)
(11,074
)
Noncurrent employee benefits
91
(141
)
136
(153
)
Stock-based compensation expense
2,745
1,587
9,190
6,182
Changes in:
Receivables
2,688
8,370
(20,115
)
(1,444
)
Inventories
753
13,687
(987
)
10,320
Payables
2,462
(6,919
)
14,399
(12,161
)
Prepaid expenses and other assets
(528
)
(7,540
)
(3,804
)
(15,312
)
Other liabilities
5,069
15,312
9,515
21,549
Total adjustments
21,226
21,350
42,064
30,092
Net cash provided by operations
54,801
52,067
183,698
155,034
Investing activities:
Property, plant and equipment expenditures
(4,033
)
(4,669
)
(14,026
)
(12,818
)
Acquisitions, net of cash acquired
–
–
(184,024
)
(3,000
)
Net cash used for investing activities
(4,033
)
(4,669
)
(198,050
)
(15,818
)
Financing activities:
Dividends paid
(11,738
)
(9,985
)
(43,529
)
(35,847
)
Proceeds from exercise of stock options
–
–
554
751
Repurchase of common stock for treasury stock
(15,002
)
–
(15,002
)
–
Net cash used for financing activities
(26,740
)
(9,985
)
(57,977
)
(35,096
)
Effect of foreign exchange rates on cash
295
(1,063
)
3,040
(597
)
Increase (decrease) in cash and cash equivalents
24,323
36,350
(69,289
)
103,523
Cash and cash equivalents – beginning of period
201,693
258,955
295,305
191,782
Cash and cash equivalents – end of period
$
226,016
$
295,305
$
226,016
$
295,305
APPENDIX
BADGER METER, INC.
RECONCILIATION OF NON-GAAP PERFORMANCE MEASURES TO GAAP PERFORMANCE MEASURES
(in thousands, except share and earnings per share data)
Three Months Ended December 31,
Twelve Months Ended December 31,
2025
SmartCover
Base
2025
SmartCover
Base
(Unaudited)
(Unaudited)
(Unaudited)
(Unaudited)
(Unaudited)
(Unaudited)
Net sales
$
220,706
$
11,834
$
208,872
$
916,663
$
39,677
$
876,986
Selling, engineering and administration
49,938
5,133
44,805
198,649
19,424
179,225
Operating earnings (loss)
43,049
291
42,758
183,421
(1,746
)
185,167
Operating earnings as % of sales
19.5
%
2.5
%
20.5
%
20.0
%
-4.4
%
21.1
%
* SmartCover results are included from the date of acquisition of January 30, 2025
** SmartCover amortization was $1.6 million for the three months ended December 31, 2025 and $5.8 million for the eleven months ended December 31, 2025 and reported as part of Selling, engineering and administration expenses
Capital to accelerate customer growth, scale embedded lending, and advance AI as a foundational capability
(PRUnderground) February 6th, 2026
omnispay, a UAE-based fintech innovating SME payments, announced the closing of a $2 million Pre-Series A funding round led by Infinity Value Capital Group.
The funding accelerates omnispay’s evolution from rapid merchant settlements into an AI-native, all-in-one finance platform designed to solve persistent SME cash-flow challenges. The company gained early traction by eliminating the industry’s standard 5–7 day settlement gap with a 24-hour payout model. It is now expanding into integrated Collect, Pay, and Borrow workflows, enabling SMEs to manage liquidity and access embedded credit as they scale.
Over the past 12 months, omnispay doubled its customer base and quadrupled processing volumes. Revenue increased 5.5x while operating expenses grew only 2.2x, reflecting strong monetization and disciplined execution. This performance is supported by ARIES, omnispay’s proprietary AI risk engine, which applies real-time transaction monitoring and dynamic decisioning. The platform also reports a Net Promoter Score exceeding 60.
“This investment accelerates our transition to an AI-native SME finance platform, enabling us to re-architect how small businesses experience finance and transform cash flow from a daily struggle into a strategic advantage,” said Vimal Kumar, Co-founder and CEO of omnispay.
“We are building a system that understands business operations in real time and responds with a meaningful payments experience, insightful analytics, and tailored credit, positioning omnispay as the default financial layer for small businesses across the GCC and beyond.”
For GForm, a project management firm that partnered with omnispay in 2024, next-day settlements replaced multi-day waits, easing liquidity constraints. The firm later used omnispay-facilitated working capital to fund a physical expansion, opening a new branch and extending its service footprint.
“Seeing our merchants transition from surviving day-to-day cash flow cycles to actively funding their next physical expansion is the ultimate validation of our product vision,” said Praveen Kiran, Co-founder and Chief Product Officer of omnispay.
Looking ahead, omnispay plans to expand further across the GCC, with partnerships supporting entry into Saudi Arabia.
“Every transaction on our platform strengthens the AI-first experiences we deliver,” said Simanta Das, Co-founder and COO of omnispay.
“As we enter new markets, we are deploying a scalable, intelligent operations engine that adapts to the financial pulse of each region.”
About omnispay
omnispay is a UAE-based fintech simplifying SME cash-flow management through its all-in-one Collect, Pay, and Borrow platform. By combining AI-driven technology with deep regional expertise, omnispay enables faster settlements, access to credit, and scalable growth for SMEs.
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