Stearns Bank (FDIC certificate 10988) was established in 1912 and operates through 11 branch offices located in 3 counties in AZ, FL, GA and MN. Mr. Norman C. Skalicky, CEO of Stearns Bank, leads a team of 316 employees.The bank's parent holding company, Stearns Financial Services, Inc. Employee Stock Ow is based in Saint Cloud, MN.
Stearns Bank, headquartered in Saint Cloud, MN, is rated four stars for financial strength by BauerFinancial, Inc., the nation’s leading bank rating firm. As a general rule, a four star rating indicates, among other things, that this institution has at least 1½ times the capital that regulators require, is profitable (or operating with a very small loss) and has kept its delinquent loans in check.
Stearns Bank is a federally chartered commercial bank and member of Federal Reserve. With $2 billion in total assets, the OCC classifies the bank’s asset concentration as "Commercial Lenders" which is defined as institutions whose commercial and industrial loans, plus real estate construction and development loans, plus loans secured by commercial real estate properties exceed 25 percent of total assets.
Trust powers have been granted to the bank which means it has the right to act as a trustee, executor, administrator, registrar of stocks and bonds, guardian of estates, or in any other fiduciary capacity allowed under the laws of the state in which it is located.
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