Randy Newman

Director

Former President and CEO, Alerus

Randy L. Newman joined Alerus (then First National Bank North Dakota) in 1981. He became the company’s president in 1987 and CEO 1995. He served in those roles until he retired on Dec. 31, 2021.

Under Mr. Newman’s leadership, Alerus developed a business strategy focused on four diverse segments — banking, mortgage, wealth management, and retirement and benefits — and significantly expanded its operations and geographic footprint, completing 25 acquisitions from 2000 through 2021. In 2019, Alerus completed an initial public offering. The company continued to expand amid the COVID-19 pandemic under the guidance of Newman and his leadership team, growing to a $3.3 billion commercial bank, with $8 billion in assets under management and $32.6 billion in assets under administration as of June 30, 2021.

Mr. Newman served as a committee and board member for numerous community- and industry-focused organizations throughout his career, including as a director of the Federal Reserve Bank of Minneapolis from 2013 to 2018, and as a director of the Federal Home Loan Bank of Des Moines, Iowa, from 1998 to 2007. His work also earned numerous accolades, including the U.S. Small Business Administration’s North Dakota Phoenix Award for leadership with small businesses during Grand Forks’ flood and fire disaster in 1997.

Mr. Newman holds a bachelor’s degree and a master’s degree in business administration from the University of North Dakota.