Alerus Financial Corporation (NASDAQ:ALRS) Q1 2022 Earnings Conference Call April 28, 2022 10:00 AM ET

Company Participants

Katie Lorenson - President & CEO

Alan Villalon - CFO

Karin Taylor - Chief Risk Officer

Conference Call Participants

Jeff Rulis - D.A. Davidson

Nathan Race - Piper Sandler

Operator

Good morning, and welcome to the Alerus Financial Corporation Earnings Conference Call. All participants will be in listen-only mode. [Operator instructions] After today's presentation, there will be an opportunity to ask questions. 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 pass the conference over to your host, Alerus Financial Corporation President, and CEO, Katie Lorenson. Please go ahead.

Katie Lorenson

Thank you, and good morning, everyone. Thank you for dialing into our call today. Joining me today is Karin Taylor, our Chief Risk Officer, and I'm very proud to introduce Al Villalon, our new CFO, who joined our company just about three months ago. Al's background and experience is just what I was looking for as we take Alerus to new heights, we will continue to distinguish ourselves as a uniquely diversified financial services firm via our one Alerus strategy. This strategy sets us apart from others, as we deliver higher returns through a highly annuitized revenue mix. This mix will also deliver more consistent returns through longer periods of time and through the ups and downs of business and economic cycles.

As I reflect on the first quarter, I am exceptionally proud of our company's ability to attract and retain talent. We are continually raising the bar with our new additions, and Al is just another example of talented professionals who are looking to be part of a special story and a special future. Alerus has positioned itself with a diversified business model and a strong foundation to grow and create tremendous value for our shareholders. It is a unique story in the Midwest, and people want to be part of it. In addition to Al, we also successfully listed out a five-person commercial construction lending team, and have the privilege of additional Twin Cities talent seeking to join our organization. I'll take this opportunity to thank our Alerus team members for another strong quarter of sales and great service to our clients. It was a quarter of volatile markets and historically low housing inventory levels. However, we excelled where we have control.