GRAND FORKS Alerus Financial Corp. has announced that Katie Lorenson, the company’s current executive vice president and chief financial officer, will become the next president and CEO, effective Jan. 1. Lorenson will succeed Randy Newman, who will remain involved with the institution and will transition to the position of executive chairman of the board.

In addition to serving as Alerus’ executive vice president and CFO, Lorenson leads the bank’s business segments, including banking, retirement and benefit services, wealth management and mortgage. She also spearheaded Alerus’ initial public offering in 2019 and has played an integral role in the company achieving consistently strong financial results since it began trading on the NASDAQ in September 2019. Lorenson is based out of the Twin Cities.

Before joining Alerus in December 2017, she served as CFO for a publicly traded regional financial institution from 2015 to 2017, and as CFO for a large privately held financial institution from 2011 to 2015. Prior to her chief financial officer roles, Lorenson served as manager on the financial institutions team for RSM US LLP.

Alerus Financial Corporation is headquartered in Grand Forks, with banking and wealth management offices in Fargo, the Minneapolis-St. Paul metropolitan area, and Scottsdale and Mesa, Arizona. Alerus Retirement and Benefits plan administration offices are in St. Paul; East Lansing, Michigan, and Littleton, Colorado.

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