Alerus Financial: Pay

Alerus Financial paid its 5 named executives $4.5M in total in FY2024 (Dec). CEO Katie A. Lorenson was paid $1.3M of that.

Pay$100 in the stock at the end of FY21 → $70
CEO pay is from each proxy. The stock line is the value of $100 put in the stock at the start, from the price change of each fiscal year. Dividends are not in it.

Pay of each named executive

Katie A. LorensonPresident and Chief Executive Officer
FY2024 (Dec)
FY2022 (Dec)Not disclosed
2 years
Forrest R. WilsonExecutive Vice President and Chief Retirement Services Officer
FY2024 (Dec)
1 year
Jim R. CollinsExecutive Vice President and Chief Banking and Revenue Officer
FY2024 (Dec)
1 year
Karin M. TaylorExecutive Vice President and Chief Operating Officer
FY2024 (Dec)
FY2022 (Dec)Not disclosed
2 years
Alan A. VillalonExecutive Vice President and Chief Financial Officer
FY2024 (Dec)
1 year

CEO pay against the pay peers

In FY2025 (Dec), the median CEO pay of the 7 peers with pay on file was $1.8M. The CEO of Alerus Financial was paid $1.6M, 9% below the median.

  1. 1First Mid Bancshares
  2. 2German American Bancorp
  3. 3Cass Information Systems
  4. 4Bank First
  5. 5QCR Holdings
  6. 6Alerus Financial
  7. 7Midland States Bancorp
  8. 8Peoples Bancorp
  9. 91ST SourceNot disclosed
  10. 10Community Trust BancorpNot disclosed
  11. 11First Business Financial Services, Inc.Not disclosed
  12. 12First Western FinancialNot disclosed
  13. 13Great Southern BancorpNot disclosed
  14. 14Independent BankNot disclosed
  15. 15Lakeland FinancialNot disclosed
  16. 16Northpointe Bancshares, Inc.Not disclosed
  17. 17S&T Bancorp, Inc.Not disclosed

Pay of each named executive comes from the Summary Compensation Table of each proxy statement. Realized pay adds the value of options used and stock that vested. CEO pay of each peer comes from its own Pay versus Performance table.