Stearns Bank National Association
Stearns Bank National Association is an FDIC insured institution headquartered at
4191 2nd St S, Saint Cloud, MN 56301.
It was founded in
1912 and has approximately $3 billion in
assets. Customers can open an account at one of its 7 branches.
Deposit Rates - October 30, 2024
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Home Equity Line of Credit - Equal Housing Lender $0 - Data provided by Brown Bag Marketing, Inc. Payments do not include amounts for taxes and insurance premiums. Click here for more information on rates and product details.
Featured 30-Year Fixed Mortgage Rates
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District Lending
NMLS ID: 18352856.494% $1,997 Fees & Points $4,000 Total
0.750 Pts ($2,400)
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0.628 Pts ($2,010)
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Pure Rate Mortgage
NMLS ID: 25784746.596% $2,023 Fees & Points $3,210 Total
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PenFed Credit Union
NMLS ID: 4018226.818% $2,049 Fees & Points $6,400 Total
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NMLS ID: 17999476.865% $2,076 Fees & Points $3,780 Total
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Mutual of Omaha Mortgage, Inc.
NMLS ID: 10258946.980% $2,103 Fees & Points $3,417 Total
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PADDIO
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Rocket Mortgage
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Veterans United Home Loans
NMLS ID: 1907Fees & Points Total
Pts ($0)
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Neighbors Bank
NMLS ID: 491986Fees & Points Total
Pts ($0)
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Top Flite Financial
NMLS ID: 4181Fees & Points Total
Pts ($0)
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Beeline Loans, Inc.
NMLS ID: 1799947Fees & Points Total
Pts ($0)
$0 Fees - Data provided by Brown Bag Marketing, Inc. Payments do not include amounts for taxes and insurance premiums. Click here for more information on rates and product details.
Public Note:
Minnesota-based Stearns Bank National Association is a $2.2 billion, independently-owned financial institution with locations in Minnesota, Florida and Arizona, and over 35,000 small business customers nationwide, in every state across the U.S. Driven by a passion to help others achieve their greatest ambitions, Stearns Bank’s mission is to Get the Job Done!July 7, 2023
Overview 2024
General Bank Information
FDIC Insured | Yes |
FDIC Certificate | # 10988 |
Date Established | 1912 |
Assets | $ 3.22 billion |
Loans | $ 2.60 billion |
Deposits | $ 2.38 billion |
Capital | $ 512.58 million |
Financial Note
Recognized as having a bullet-proof balance sheet with 25% capital and earning top rankings as one of the nation’s highest-performing banks by American Banker, and most recently ranked fourth in the U.S. among banks having more than $1 billion in assets by Independent Banker’s 2023 Best of the Best ranking of banks with the highest 3-year average Return on Assets, Stearns Bank specializes in nationwide commercial construction lending, USDA and SBA lending, and small business and equipment financing.
Summary Balance Sheet as of March 31, 2024
ASSETS | |
Cash & Balances due from depository institutions | $ 419.38 million |
Interest-bearing balances | $ 411.42 million |
Total securities | $ 89.61 million |
Federal funds sold and reverse repurchase | N.A. |
Net loans and leases | $ 2.60 billion |
Loan loss allowance | $ 78.16 million |
Trading account assets | N.A. |
Bank premises and fixed assets | N.A. |
Other real estate owned | $ 19.21 million |
Goodwill and other intangibles | $ 18.53 million |
All other assets | $ 35.42 million |
Total Assets | $ 2.71 billion |
LIABILITIES | |
Total deposits | $ 2.38 billion |
Interest-bearing deposits | $ 2.19 billion |
Deposits held in domestic offices | $ 2.38 billion |
% insured (estimated) | 80.09% |
Federal funds purchased and repurchase agreements | $ 51.28 million |
Trading liabilities | N.A. |
Other borrowed funds | N.A. |
Subordinated debt | N.A. |
All other liabilities | $ 32.08 millionn |
Total Liabilities | $ 2.71 billion |
Shareholders’ Equity | $ 512.58 million |
Summary Income Statement as of March 31, 2024
INCOME AND EXPENSES | |
Total Interest Income | $ 132.31 million |
Total Interest Expense | $ 46.62 million |
Net interest income | $ 85.70 million |
Provision for loan and lease losses | $ 13.54 million |
Total non interest income | $ 6.23 million |
Total non interest expense | $ 50.40 million |
Pre-tax Net Operating Income | $ 38.64 million |
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