Steady

Leader

Alerus leader Randy Newman demonstrates devotion to bank, community

BY KAYLA PRASEK

Randy has a complete sense of honesty and sense of fairness, which are the top two traits a businessman should have. People can work hard but not be fair or honest, and his integrity is something I respect,” says Hal Gershman, president of Gershman Enterprises and Happy Harry’s Bottle Shops of Grand Forks, N.D., and Alerus board member. “He doesn’t try to sweep things under the rug, but also has the ability to look to the future and position us for the future.”

That ability to look to the future is the exact trait that has helped Randy Newman, a Cando, N.D., native, guide Grand Forks, N.D.-based Alerus through a period of incredible growth and a recent rebranding. Newman, president, CEO and chairman of the board for Alerus, joined what was then First National Bank North Dakota in 1981 and was named president in 1987 and CEO in 1995. As president, Newman has guided the financial institution through the flood and fire of 1997, a name change to Alerus Financial in 2000 and the recent rebranding to Alerus. Since 1987, Alerus has grown to include 18 locations in North Dakota, Minnesota and Arizona and 670 employees, nearly half of whom were hired within the past five years.

“To stand out, you have to redesign yourself, and that’s what we did (with the rebranding),” Newman says. “In 2000, we very strategically wanted to grow, which we couldn’t do as First National Bank of North Dakota. So we changed our name to Alerus Financial. Fifteen years later, this is the evolution, which is consistent with our past. We changed our logo and brand to Alerus to reflect our customer advocacy structure and to bring a seamless connec- tion to customers with their Alerus advisors. We want to bring the power of our company to serve their needs.”

Newman is passionate about both his employees and his customers, saying it’s important to establish a brand and “do things the right way.” That includes “focusing on your customers, establishing good principles and values and staying accountable,” Newman says. “The people are your brand, so you have to determine who you are as a company and develop that competitive niche. We want to be the best financial services company in the country.”

Newman says he’s proud of where Alerus is but hopes to see its continued growth. “Looking back now, we’ve really transformed this company,” he says. “I’m very proud of not just what we’ve achieved, but also how we have conducted ourselves, by focusing on our customers.”

Newman believes talent attracts talent, which has helped his company become a regional leader. “As a leader, I try very hard to not be controlling,” he says. “I believe strongly in the power of purpose and people. If you lead people and give them the purpose, then they will be successful. You can guide a company by finding the people who delight in being part of the company. I’ve been a coach and a leader for Alerus, but now I’m more of the spokesman and communicator, telling our story. My role has changed to the big picture.”

Innovation at the University of North Dakota, says Newman’s leadership following the flood and fire of 1997 helped the city of Grand Forks recover and rebuild.

That passion for giving back also means Newman believes Alerus can do more for the community. “We have a commitment to Grand Forks,” he says. “From increasing financial literacy to our Connect with the Community program for our employees, we want the community to know we’re here to help.” Newman says Alerus is also focused on expanding its work on increasing financial literacy for the elderly, who can be taken advantage of in financial situations, educating students to help them make better financial decisions and providing guidance for first-time home buyers.

Through the years, Newman has held positions on various boards in Grand Forks, including the local chamber of commerce and school board. In recent years, he has focused on a regional role of community stewardship, including on the board of the Federal Home Loan Bank in Des Moines, Iowa, as director of the Ninth Federal Reserve Bank in Minneapolis and a director of the Bank Holding Company Association. He also currently serves on UND’s Center for Innovation Foundation Board, Altru Health Service’s Corporate Advisory Board and the UND Fellows. PB

Bruce Gjovig, director of the Center for

As Gershman says, Newman is very concerned with his employees, from top to bottom, and has worked hard to make Alerus “a wonderful place to work.”

Kayla Prasek Staff Writer Prairie Business 701-780-1187, kprasek@prairiebizmag.com