Officers & Directors

Officers & Directors

Executive Management

Randy L. Newman
Randy L. Newman
Chairman, President & Chief Executive Officer
Randy L. Newman Chairman, president, and CEO of Alerus Financial, N.A. and Alerus Financial Corp. since 1995
With Alerus since 1981

Randy L. Newman serves as President, CEO, and Chairman of the Board for Alerus Financial, N.A. and Alerus Financial Corporation (ALRS), a $2.1 billion commercial bank, with a wealth management division comprised of $3.8 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 currently serves as a Class A Director of the Federal Reserve Bank of Minneapolis and as a trustee of the UND Center for Innovation Foundation. He was 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.
Katie A. Lorenson
Katie A. Lorenson
Executive Vice President & Chief Financial Officer
Katie A. Lorenson Katie Lorenson joined Alerus as Chief Financial Officer in December 2017. Ms. Lorenson is a seasoned executive with extensive experience overseeing financial service organizations, most recently serving as CFO at MidWestOne Financial Group, Inc. She previously served as CFO for Central Bancshares, which was acquired by MidWestOne Financial Group, Inc. in 2015. Prior to these roles, Ms. Lorenson served as Manager on the Financial Institutions Team for RSM (McGladrey & Pullen).
Ann McConn
Ann McConn
Executive Vice President & Chief Business Officer
Ann McConn Ann McConn serves as executive vice president and chief business officer, overseeing Alerus’ business development efforts and operations in the areas of banking, mortgage, retirement and benefits, and wealth management. She assumed her current role in 2017.

Ms. McConn has more than 25 years of experience in the financial services industry. She joined Alerus in 2002 and previously served as the company’s executive director of retirement, benefits, and wealth management, and as Fargo Market President. Her past experience includes roles as vice president of financial services and wealth management, and senior vice president of trust and investments at another financial institution. She also previously served as a trust investment officer at First National Bank North Dakota (today known as Alerus).

With a law degree from the University of North Dakota and a master's degree in business from Minnesota State University Moorhead, Ms. McConn is well schooled in business. She has FINRA Series 7 and 24 registrations, and holds designations as both a Chartered Financial Analyst and Certified Financial Planner.
Kris Compton
Kris Compton
Executive Vice President & Chief Strategy Officer
Kris Compton As chief strategy officer, Kris Compton sets the company’s direction with respect to the development and alignment of strategic and business planning efforts, leadership development programs, and human and information resource management initiatives.

Prior to becoming chief strategy officer in 2017, Ms. Compton held a variety of roles within Alerus over the course of a 40-plus-year career, including chief operating officer, human resource manager, and marketing director.

Ms. Compton received her undergraduate degree from the University of North Dakota and began her banking career immediately after graduation. She has been with Alerus since 1975.
Dan J. Cheever
Dan J. Cheever
Executive Vice President & Chief Development Officer
Dan J. Cheever Dan Cheever serves as executive vice president for Alerus. He served as the company's chief financial officer from 2015 through 2017. Over the course of a career spanning nearly 40 years, Mr. Cheever has held a variety of senior-level executive positions, including chief executive officer, chief operating officer, chief financial officer, asset resolution officer and director for a number of financial institutions and financial services companies ranging in size from $500 million to $135 billion in assets.

Mr. Cheever holds a Bachelor of Science degree in business administration from the Univ. of South Dakota.

Board of Directors

Randy L. Newman
Randy L. Newman
Chairman, President, & Chief Executive Officer
Randy L. Newman Chairman, president, and CEO of Alerus Financial, N.A. and Alerus Financial Corp. since 1995
With Alerus since 1981

Randy L. Newman serves as President, CEO, and Chairman of the Board for Alerus Financial, N.A. and Alerus Financial Corporation (ALRS), a $2.1 billion commercial bank, with a wealth management division comprised of $3.8 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 currently serves as a Class A Director of the Federal Reserve Bank of Minneapolis and as a trustee of the UND Center for Innovation Foundation. He was 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.
Karen M. Bohn
Karen M. Bohn
Director
Karen M. Bohn Alerus board member since 1999
President, Galeo Group, LLC
Former Chief Administrative Officer,Piper Jaffray Companies
Former President, Piper Trust Company

Karen M. Bohn serves as president of Galeo Group, LLC. Prior to forming Galeo Group, she served for more than 20 years in executive roles at Piper Jaffray Companies Inc. She was Chief Administrative Officer at Piper Jaffray, overseeing corporate communications, community affairs, government relations, human resources, office services, strategic and operational planning, and retirement plans. She also served as president of Piper Jaffray Companies Foundation, and as president of Piper Trust Company.

Ms. Bohn studied at the Securities Industry Institute of The Wharton School, University of Pennsylvania in Philadelphia. She received her bachelor’s and master’s degrees from the University of North Dakota in Grand Forks.

She serves on the board of directors of Otter Tail Corporation and Ameriprise Certificate Corporation.

To view the Alerus governance committees on which Ms. Bohn serves, please click here.
Lloyd G. Case
Lloyd G. Case
Director
Lloyd G. Case Alerus board member since 2005
Past President and CEO of Forum Communications Company
Board of Directors, Forum Communications

Lloyd G. Case spent more than 30 years with Forum Communication Company, holding multiple executive roles during his tenure. He served as President and Chief Executive Officer from 2010 until his retirement in 2014. Prior to that, he served as Chief Financial Officer and Vice President of the company’s Newspapers division. He holds or has held membership on numerous boards of directors and associations involved in industries such as accounting, media, health care, and nonprofit, including service on the board of Forum Communications.

Mr. Case is a 1971 graduate of the University of North Dakota and holds a CPA designation (inactive).

To view the Alerus governance committees on which Mr. Case serves, please click here.
Daniel E. Coughlin
Daniel E. Coughlin
Director
Daniel E. Coughlin Alerus board member since 2016
Former managing director and co-head of financial services, Raymond James & Associates
Former chairman and CEO, Howe Barnes Hoefer & Arnett

Mr. Coughlin is the former Managing Director and Co-Head of the Financial Services practice at Raymond James & Associates. He also served as Chairman and CEO of Howe Barnes Hoefer & Arnett prior to its 2011 merger with Raymond James, and spent seven years with the Federal Reserve Bank of Chicago where he assessed the competitive implications of bank mergers and acquisitions. A 30-year industry veteran, Mr. Coughlin possesses vast knowledge and experience in areas such as strategic planning, risk management, mergers and acquisitions, and capital formation.

To view the Alerus governance committees on which Mr. Coughlin serves, please click here.
Harold A. Gershman
Harold A. Gershman
Director
Harold A. Gershman Alerus board member since 1989
President, Happy Harry’s Bottle Shops
President, Gershman Enterprises, LLC
President, Gershman Real Estate

Harold A. Gershman is president of Happy Harry’s Bottle Shops and its affiliate companies, Gershman Enterprises, LLC, and Gershman Real Estate. He is also a partner in Columbia Center, Inc., and is a former president of the Grand Forks City Council. Mr. Gershman is director of the Empire Arts Center, Alerus Center Commission, and the Harold and Kathy Gershman Family Foundation.

Mr. Gershman holds a Bachelor of Science degree in business administration from the University of North Dakota.

To view the Alerus governance committees on which Mr. Gershman serves, please click here.
James J. Karley
James J. Karley
Director
James J. Karley Alerus board member since 1997
President, L&K Leasing (Johnstown Bean and North Central Commodities)
President, L&H Leasing (Cavalier Bean)

James J. Karley has built multiple successful businesses within the agriculture industry. His companies include Johnstown Bean Company and Cavalier Bean Company, which are involved in processing, shipping, and wholesaling bulk dry beans. He also leads North Central Commodities, Inc., which is a leading exporter of beans. He was named “Exporter of the Year” in 1999 by the Grand Forks (ND) Chamber of Commerce.

To view the Alerus governance committees on which Mr. Karley serves, please click here.
Kevin D. Lemke
Kevin D. Lemke
Director
Kevin D. Lemke Alerus board member since 1994
President, Virtual Systems, Inc.
Former owner and information systems director, ComputerLand of Grand Forks

Kevin D. Lemke is the president of Virtual Systems, Inc., and is the former owner and information systems director of ComputerLand of Grand Forks. He is also an investor with RAIN Source Capital, which focuses on growing private companies through a community-based system of investors, capital, and expertise.

Mr. Lemke earned a Bachelor of Science degree in mathematics and computer science, magna cum laude, from the University of North Dakota in 1975. Mr. Lemke also holds a certificate in data processing and computer programming from the Institute for Certification of Computer Professionals.

To view the Alerus governance committees on which Mr. Lemke serves, please click here.
Sally J. Smith
Sally J. Smith
Director
Sally J. Smith Alerus board member since 2007
President and CEO, Buffalo Wild Wings, Inc.
Former CFO, Buffalo Wild Wings, Inc.
Former CFO, Dahlberg, Inc.

Sally J. Smith has served as chief executive officer and president of Buffalo Wild Wings since July 1996, as a director since August 1996, and was the company's chief financial officer from 1994 to 1996. Prior to joining Buffalo Wild Wings, she was the chief financial officer of Dahlberg, Inc., the manufacturer and franchisor of Miracle-Ear hearing aids, from 1983 to 1994. Ms. Smith began her career with KPMG LLP, an international accounting and auditing firm. Ms. Smith holds a CPA license (inactive).

She serves on the board of directors for, and is past chair of, the National Restaurant Association. She also serves on board of directors of Hormel Foods and Allina Health Systems.

To view the Alerus governance committees on which Ms. Smith serves, please click here.
Galen G. Vetter
Galen G. Vetter
Director
Galen G. Vetter Alerus board member since 2013
Former Senior Vice President and Global Chief Financial Officer, Franklin Templeton Investments
Former Partner-In-Charge, Upper Midwest Region, RSM

Galen Vetter has more than four decades of experience in finance and accounting. His extensive background includes numerous executive level positions at Franklin Templeton Investments, including Senior Vice President and Global Chief Financial Officer. At Franklin Templeton, he oversaw hundreds of mutual funds and thousands of private accounts. He was also responsible for enterprise risk management and global internal control.

Mr. Vetter spent 25 years with RSM US, the fifth-largest tax and accounting firm in the country. His tenure there included roles as Partner In-Charge of the Upper Midwest Region and National Executive Partner. Mr. Vetter’s responsibilities included financial management, information technology, and development of industry-specific accounting practices, including practices for the financial industry.

He serves on the board of directors of the following companies: Land O'Lakes; Hill Capital Corp., Crossroads Systems; and ATRM Holdings. He is also a member of the National Association of Corporate Directors.

Mr. Vetter holds a Bachelor of Science degree from the University of Northern Iowa and holds a CPA designation (inactive).

To view the Alerus governance committees on which Mr. Vetter serves, please click here.