Alerus Financial Corp
Randy L. Newman serves as President, CEO, and Chairman of the Board for Alerus Financial,
N.A. and Alerus Financial Corporation (ALRS), a $2.4 billion commercial bank, with a wealth management division comprised of $6 billion assets under management and $28.2 billion assets under administration. Mr. Newman joined Alerus, formerly First National Bank North Dakota in 1981, and became its President in 1987 and CEO in 1995. Prior to joining Alerus, he taught Corporate Finance and Business Strategy courses at the University of North Dakota.
Mr. Newman served as a Class A Director of the Federal Reserve Bank of Minneapolis from 2013-2018 a director of the Federal Home Loan Bank of Des Moines from 1999-2007.
Mr. Newman received his BSBA in 1975 and his MBA in 1979 from the University of North Dakota.
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Alerus Financial Corp
Alerus Financial Corporation is a diversified financial services company. Through its subsidiary, Alerus Financial, National Association, the Company provides financial solutions to businesses and consumers. It operates through four segments: Banking, Retirement and Benefit Services, Wealth Management and Mortgage. The Banking division offers a line of loan, deposit, cash management, and treasury services. Retirement and Benefit Services provides recordkeeping and administration services to retirement plans; employee stock ownership plan (ESOP) trustee, recordkeeping, and administration, and investment fiduciary services to retirement plans. The Wealth Management division provides advisory and planning services, investment management, and trust and fiduciary services to clients. The Mortgage division offers mortgage loans through a centralized mortgage unit in Minneapolis, Minnesota, as well as through the Banking office locations.