Alerus Celebrates 40 years of Employee Ownership

March 6, 2026

In 1986, Alerus took an important step in shaping the company’s future by establishing an employee stock ownership plan (ESOP). The goal was simple: to provide employees with meaningful ownership in the company and create an additional vehicle for long-term retirement savings — giving them a vested interest in the success of both clients and the organization.

As the company celebrates forty years of employee ownership, Alerus employees remain one of the company’s largest shareholders, and the employee-owner mindset has become a cornerstone of the company’s business.

“For 40 years, employee ownership has been one of Alerus’ greatest strengths,” says Alerus President and CEO Katie Lorenson. “Their ownership stake has fueled our culture, our performance, and our long-term resilience. When our people are also the owners, they bring an extra level of care to our clients, to each other, and to the future of the company. Our employee-owners have shaped who we are today, and they will continue to shape our company’s future.”

Alerus is believed to have one of the oldest and longest-running ESOPs in North Dakota. Since launching the ESOP in 1986, the company has grown to include 854 employees serving clients through 26 banking and wealth offices in North Dakota, Minnesota, Wisconsin, and Arizona, and nationwide through its retirement and benefits segment.