 Alerus Financial Corporation Nasdaq: ALRS reported net income of 5.4 million for the first quarter of 2020, or 0.30 per diluted common share, compared to 7.7 million of net income, or 0.43 per diluted common share, for the fourth quarter of 2019, and net income of 6.4 million, or 0.46 per diluted common share, for the first quarter of 2019. 