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Randy L. Newman :: President, CEO, Chairman of the Board

Office 701.795.3317

Email .(JavaScript must be enabled to view this email address)

Location Grand Forks, ND

About Randy

Randy L. Newman presently serves as President, CEO, and Chairman of the Board for Alerus Financial, N.A., and Alerus Financial Corporation (ALRS), a $2.2 billion commercial bank with a wealth management division comprised of $4.8 billion in assets under management and $27.7 billion in assets under administration and a mortgage division that annually originates $780 million of residential mortgages in its franchise markets. 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.

From 1998-2007, Mr. Newman served on the Board of Directors of the Federal Home Loan Bank in Des Moines, Iowa, serving the last four years as its Chairman. The FHLBDM is a $100 billion bank and one of the 12 FHLBs that is a federally chartered corporation (GSE), SEC registered, and that make up the FHLB system comprised of over $1 trillion in assets. From 2012-2108, he served as a director of the Ninth Federal Reserve Bank in Minneapolis. He has served as a director of the Bank Holding Company Association and on committees with the Bank Administration Institute (BAI) Association in Chicago, serving as Chairman of its Education Committee and on the planning committee for the BAI's Retail Delivery Conference, the banking industry's largest conference. 

Mr. Newman received his BSBA in 1975 and his MBA in 1979 from the University of North Dakota. He has continued his education by attending professional banking studies with the University of Oklahoma, advanced his leadership studies with the Carlson School of Management at the University of Minnesota, and earned the CFP designation in 1985. He has been a member of the National Association of Corporate Directors (NACD) and earned their Certificate of Director Education, while associated with the FHLBDM. While serving on the board of the FHLBDM, he was designated as an audit committee financial expert as that term is defined by the rules and regulations of the SEC.

Mr. Newman's past community service includes leadership and/or board membership in many civic organizations. In 1998, he received the U.S. Small Business Administration's "ND Phoenix Award" for leadership with small businesses during Grand Forks' flood and fire disaster in 1997. In 2007, he was awarded the prestigious Henry Havig Award, Grand Forks' highest community leadership award. In 2008, he was named Banker of the Year by NorthWestern Financial Review, and industry magazine serving a 17-state region. In 2013, he was honored to receive the prestigious Sioux Award from the University of North Dakota Alumni Foundation, which is the highest honor that foundation awards. This award is given to alumni who exemplify achievement, service, and loyalty.


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