Alerus Financial Corporation (ALRS) vs Independent Bank Corporation (IBCP)
A side-by-side comparison of Alerus Financial Corporation and Independent Bank Corporation across valuation, profitability, dividends, and growth — built entirely from reported fundamentals, as of October 6, 2026. Differences are shown without an overall score or investment verdict.
Total return — ALRS vs IBCP
growth of $100 · dividends reinvested · last 10yALRS vs IBCP: by the numbers
- •ALRS is the larger company ($818M vs $742M market cap).
- •IBCP trades at the lower trailing earnings multiple (10.47 vs 30.13 P/E), one valuation lens rather than an overall verdict.
- •IBCP converts more revenue to profit (22.71% vs 8.33% net margin).
- •IBCP grew revenue faster over the past five years (7.43% vs 5.76% CAGR).
- •IBCP pays the higher dividend yield (3.06% vs 2.65%).
Metrics side by side
Valuation
| Metric | ALRS | IBCP |
|---|---|---|
| P/E ratio | 30.13 | 10.47 |
| Forward P/E | 10.79 | 10.11 |
| PEG ratio | N/A | 1.99 |
| P/S ratio | 2.46 | 2.35 |
| P/B ratio | 1.40 | 1.41 |
Profitability
| Metric | ALRS | IBCP |
|---|---|---|
| Operating margin | 10.36% | 26.72% |
| Net margin | 8.33% | 22.71% |
| ROE | 4.75% | 13.58% |
Alerus Financial Corporation: Gross margin is not shown for a lender or insurer: its revenue is interest, premiums and fees rather than the sale of goods, so there is no cost of goods sold to measure it against.
Independent Bank Corporation: Gross margin is not shown for a lender or insurer: its revenue is interest, premiums and fees rather than the sale of goods, so there is no cost of goods sold to measure it against.
Dividends
| Metric | ALRS | IBCP |
|---|---|---|
| Dividend yield | 2.65% | 3.06% |
| Payout ratio | 79.63% | 31.98% |
Growth (annualized)
| Metric | ALRS | IBCP |
|---|---|---|
| Revenue CAGR (5Y) | 5.76% | 7.43% |
| EPS CAGR (5Y) | -23.13% | 5.21% |
| Total return CAGR (5Y) | 4.67% | 14.52% |
Frequently asked
- Which has the lower trailing P/E, ALRS or IBCP?
- IBCP has the lower trailing P/E: ALRS trades at 30.13 and IBCP at 10.47. P/E is one valuation measure and does not by itself establish which business is cheaper.
- Which has grown faster, ALRS or IBCP?
- Over the past five years, IBCP grew revenue faster — ALRS at a 5.76% CAGR versus IBCP at 7.43%.
- Does ALRS or IBCP pay a bigger dividend?
- ALRS yields 2.65% and IBCP yields 3.06% based on trailing dividends and the latest price.
- Is ALRS or IBCP more profitable?
- IBCP runs the higher net margin — ALRS at 8.33% versus IBCP at 22.71%.
- How have ALRS and IBCP total returns compared?
- Over the past 10 years, ALRS delivered 9.99% and IBCP delivered 11.85% annualized total return. Past performance doesn't predict future results.
Go deeper
Dig into the metrics
Alerus Financial & Independent Bank appear in these rankings
Figures are sourced from reported fundamentals and the latest end-of-day price. This comparison is informational only and is not investment advice. Past performance does not predict future results. See our methodology. Compiled by TGMCharts Research · data verified October 6, 2026.