Alerus Financial Corporation (NASDAQ:ALRS) Q2 2023 Earnings Conference Call July 29, 2023 12:00 PM ET
Company Participants
Katie Lorenson - President, Chief Executive Officer
Alan Villalon - Chief Financial Officer
Karin Taylor - Chief Risk & Operating Officer
Jim Collins - Chief Baking and Revenue Officer
Conference Call Participants
Ben Gerlinger - Hovde
Jeff Rulis - D.A. Davidson
Nathan Race - Piper Sandler
Eric Spector - Raymond James
Damon DelMonte - KBW
Operator
Hello! And welcome to the Alerus Financial Corporation Earnings Conference Call. All participants will be in listen-only mode. [Operator Instructions]. Please note, this event is being recorded.
This call may include forward-looking statements and the company's actual results may differ materially from those indicated in any forward-looking statements. Important factors that could cause actual results to differ materially from those indicated in the forward-looking statements are listed in the earnings release and the company's SEC filings.
I would now like to turn the conference over to Alerus Financial Corporation, President and CEO, Katie Lorenson. Please go ahead.
Katie Lorenson
Good morning, and thank you Bailey. Thank you to our research analysts for joining our call this morning, as well as our investors, employers and Directors for taking the time to listen in.
We appreciate your interest and investment in Alerus. This morning I will provide some commentary on Alerus foundational strength in addition to the execution of our strategic evolution to a top-performing commercial wealth bank and a national retirement provider.
Today, I am joined by Alerus’s CFO, Alan Villalon, who will discuss our financial performance and results for the quarter. In addition, Karin Taylor, our Chief Risk and Operating Officer; and Jim Collins, our Chief Baking and Revenue Officer, will join us to answer any questions you may have about the quarter.
Alerus is well positioned to emerge from the current headwind as a clear winner in value creation and returns for our shareholders. We are building off the unique strength of the company's diversified business model, while optimizing our infrastructure to return the company to delivering strong profitability, while continuing to grow a tangible book value.
Well, notably in our path to transformation is our continued and significant success in adding well-respected and widely sought-after bankers and professionals to our franchise. This momentum in attracting and retaining talent continues to build in the second quarter, as we added more experience in market and specialty commercial bankers. These team members join the dozens of professionals we've hired this year and our tendered team of SBA, CRA, and business-baking professionals.