On July 24, 2023, Jerrod K. Hanson notified Alerus Financial Corporation of his intention to resign from his positions as Chief Accounting Officer and Senior Vice President of the Company and from all of his positions with the Company?s subsidiary bank, Alerus Financial, National Association effective August 18, 2023. Mr. Hanson is leaving to pursue other opportunities and his departure is not related to any disagreement with the Company or its auditors regarding its financial disclosures or accounting matters. On July 28, 2023, the Company announced that, effective August 18, 2023, Kari Koob will become the new Director of Accounting and Principal Accounting Officer of the Company.

Ms. Koob, age 39, is a certified public accountant and previously served as Financial Planning and Analysis Director of the Company since September of 2022. Prior to joining the Company, Ms. Koob worked in various roles in the financial services audit team at RSM US LLP starting in 2008. Her last role at RSM was Senior Manager.