Leadership Transition at Alerus Financial Corporation Announced

Alerus Financial Corporation Announces Leadership Changes

Alerus Financial Corporation (Nasdaq: ALRS) recently revealed significant changes in its executive team, highlighting a planned succession in leadership. As part of this transition, Jon Hendry, the Executive Vice President and Chief Technology Officer, will retire at the end of the year. His responsibilities will be handed over to Karin Taylor, who is set to become the new Executive Vice President and Chief Operating Officer on January 1, 2025.

Introducing Karin Taylor as Chief Operating Officer

Karin Taylor is no stranger to Alerus, having joined the company as Chief Risk Officer back in 2018. With close to 30 years of experience in the financial sector, she brings a wealth of knowledge in risk management that will be invaluable in her new role. As Chief Operating Officer, she not only retains her oversight of risk management but also takes charge of regulatory compliance, legal matters, internal audit, and operations.

Karin’s Vision for the Future

In her upcoming position, Karin aims to enhance the operational efficiency of Alerus, focusing on streamlining processes and integrating innovative technologies. With her extensive background, she is well-positioned to lead the company as it continues to adapt in a rapidly evolving financial landscape.

Welcoming Joe Birkholz as Chief Risk Officer

Alongside Karin Taylor's promotion, Alerus has welcomed Joe Birkholz to the team as the new Chief Risk Officer. Joe brings nearly two decades of industry experience, specializing in risk management for the last ten years. Before joining Alerus in December 2024, he held the Chief Risk Officer position at Bridgewater Bank and served as Senior Director of Risk Operations at TCF Financial Corporation/National Bank.

Enhancing Risk Management Practices

In his new role, Joe Birkholz will collaborate closely with the risk committee to advance Alerus's risk management practices. His focus will be on fostering a culture of safety and efficiency within the organization as Alerus continues its growth trajectory.

Jon Hendry’s Remarkable Legacy

Jon Hendry, who has been instrumental in Alerus's growth over a remarkable 40-year career, will support the transition process. His leadership has been pivotal in implementing technology initiatives that align with the company's strategic vision. Notably, he played a crucial role in safeguarding the company's assets during the Grand Forks flood and fire in 1997. President and CEO Katie Lorenson expressed gratitude for Jon’s contributions and emphasized the significance of a seamless transition for the organization.

About Alerus Financial Corporation

Alerus Financial Corporation (Nasdaq: ALRS) operates as a commercial wealth bank and national retirement services provider, having its corporate offices located in Grand Forks, North Dakota, and the Minneapolis-St. Paul metropolitan area. Through its subsidiary, Alerus Financial, National Association, the company offers a diverse range of solutions to both businesses and individual clients. These include comprehensive banking services, wealth management, and retirement services tailored to meet the specific needs of its clientele.

Operating 29 banking and wealth offices across several locations, including Grand Forks, Fargo, and the Minneapolis-St. Paul area among others, Alerus is committed to delivering competitive products and insightful advice. By utilizing digital solutions, the firm strives to enhance the overall client experience and better cater to their unique financial requirements.

Frequently Asked Questions

Who is the new Chief Operating Officer of Alerus Financial Corporation?

Karin Taylor has been named the new Chief Operating Officer, effective January 1, 2025, succeeding Jon Hendry.

What is Jon Hendry's role within Alerus as he retires?

Jon Hendry will assist in the transition to ensure a smooth handover of responsibilities to Karin Taylor.

What experience does Joe Birkholz bring to Alerus?

Joe Birkholz has nearly 20 years of industry experience and has specialized in risk management for the last decade.

How many offices does Alerus operate?

Alerus has a total of 29 banking and wealth offices located across various states.

What types of services does Alerus Financial Corporation provide?

Alerus offers a range of financial solutions, including banking, wealth management, and retirement services tailored to meet clients' unique needs.

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