Katie A. Lorenson
Also at Alerus Financial Corp
About
Katie A. Lorenson is a seasoned financial executive with a robust professional background in financial services and strategic leadership.
She has held key roles earlier in her career, including positions at RSM, serving as Manager on the Financial Institutions Team, and as Chief Financial Officer at both Central Bancshares, Inc. and MidWest One Financial Group, Inc..
At ALRS, she joined in December 2017 as Executive Vice President and Chief Financial Officer and was subsequently promoted to President and Chief Executive Officer in 2021, where she now oversees multiple financial service areas including retirement, wealth management, mortgage, and banking products.
$ALRS Performance Under Katie A. Lorenson
Past Roles
Fixed Compensation
Performance Compensation
Bonus Component
- Evaluation Period: Calendar year 2024
- Bonus Achievement: 106.0% of target, adjusted to 104.0%
- Target Bonus Amount: $330,000
- Bonus Paid: $343,200
Performance-Based RSUs
Summary
The performance compensation for 2024 includes a Bonus Component based on key financial metrics (Adjusted Net Income, Adjusted Total Revenue, and ROE) with specific thresholds, targets, maximums, and weightings, resulting in a bonus payout of $343,200. Additionally, the Performance-Based RSUs are granted with defined share thresholds and vesting conditions over a three-year performance period, supporting alignment with long-term company performance and shareholder interests.