---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-21-117361"
form_type: "8-K"
ticker: "ALRS"
cik: "0000903419"
company_name: "ALERUS FINANCIAL CORP"
filed_at: "2021-09-20T23:59:59+00:00"
generated_at: "2026-06-29T02:49:32.884125+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Alerus Financial CEO Randy Newman to retire; CFO Katie Lorenson named successor effective Jan 1, 2022

## Summary
- Randy Newman retires as Pres/CEO Jan 1, 2022; will be Executive Chairman until 2022 annual meeting.
- Katie A. Lorenson (current EVP/CFO) named President & CEO effective Jan 1, 2022; also joins Board. Base salary $550,000, bonus target 50% of base.
- Newman had been with Alerus since 1981, became CEO in 1995; grew net income from $5.1M (1995) to $44.7M (2020).
- Company will conduct a search for a new CFO, considering both internal and external candidates.

## SEC filing metadata
- accession: 0001104659-21-117361
- form_type: 8-K
- ticker: ALRS
- cik: 0000903419
- company_name: ALERUS FINANCIAL CORP
- filed_at: 2021-09-20T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 5.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/903419/000110465921117361/0001104659-21-117361-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/903419/000110465921117361/tm2127984d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-21-117361
- JSON: https://secwatch.observer/filing/0001104659-21-117361.json
- Plain text: https://secwatch.observer/filing/0001104659-21-117361.txt

## Key facts
- Executive change
  Katie A. Lorenson was appointed as Director at ALERUS FINANCIAL CORP.
  - Action: appointed
  - Role: Director
  source text: appointed Katie Lorenson as a director to fill the vacancy created by this increase.
  evidence_url: https://www.sec.gov/Archives/edgar/data/903419/000110465921117361/0001104659-21-117361-index.htm
- Executive change
  Katie A. Lorenson was appointed as President and Chief Executive Officer at ALERUS FINANCIAL CORP.
  - Action: appointed
  - Role: President and Chief Executive Officer
  source text: Katie A. Lorenson, will become the new President and Chief Executive Officer of the Company.
  evidence_url: https://www.sec.gov/Archives/edgar/data/903419/000110465921117361/0001104659-21-117361-index.htm
- Executive change
  Randy L. Newman retired as President and Chief Executive Officer at ALERUS FINANCIAL CORP.
  - Action: retired
  - Role: President and Chief Executive Officer
  source text: Randy L. Newman will retire from his roles as President and Chief Executive Officer of the Company.
  evidence_url: https://www.sec.gov/Archives/edgar/data/903419/000110465921117361/0001104659-21-117361-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.