Biography

Alerus board member since 2024
CEO, Bolton Advisory, LLC
Former Chief Administrative Officer, Mayo Clinic
Former Chief Financial Officer, Mayo Clinic

Jeffrey Bolton has served as an independent consultant for health services and economic development firms since February 2022. Mr. Bolton is currently CEO of Bolton Advisory, LLC. Previously, he served as chief administrative officer of Mayo Clinic from 2013 to 2021 and as its chief financial officer from 2002 to 2013.

Prior to working for the Mayo Clinic, Mr. Bolton held various business and finance‐related positions at Carnegie Mellon University, including chief financial officer and vice president for business and planning.

Mr. Bolton currently serves as the board chair for Resoundant; on the board of M. Lee Pearce Foundation; on the board of MCS, Inc. (Finance Committee chair and Audit Committee); and on the board of St. Olaf College (chair of academic affairs committee). Mr. Bolton previously served on the board of directors of HMN Financial, Inc. (chair of Audit Committee and member of Governance and Nominating committee), a Nasdaq‐listed financial institution holding company.

Mr. Bolton holds a bachelor’s degree from Pennsylvania State University, and master’s degrees in business administration and social work from the University of Pittsburgh.

Mr. Bolton was appointed to the Board in October 2024 immediately following the Company’s acquisition of HMN Financial, Inc., pursuant to the terms of the Agreement and Plan of Merger governing the acquisition.

Mr. Bolton brings extensive expertise gained in various leadership roles, prior experience as a director on the board of another publicly traded financial institution holding company and experience in strategic leadership.