Stearns Bank National Association

logo for Stearns Bank National Association
Headquarters

4191 2nd St S
Saint Cloud, MN 56301
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Notable Rates APY Vs.Others
Savings N.A. 5.55% →
1-Year CD N.A. 5.38% →
2-Year CD N.A. 4.95% →
5-Year CD N.A. 4.55% →
30-Year Mortgage N.A. 4.91% →
15-Year Mortgage N.A. 4.39% →
HELOC N.A. 0.99% →
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

2024 Overview

General Bank Information

Stearns Bank National Association is an FDIC insured institution located in Saint Cloud, MN. It was founded in 1912 and has approximately $3.16 billion in assets. Customers can open an account at one of its 7 branches.

FDIC Insured Yes
FDIC Certificate # 10988
Date Established 1912
Assets $ 3.16 billion
Loans $ 2.55 billion
Deposits $ 2.33 billion
Capital $ 568.14 million
 

For a more detailed analysis of Stearns Bank National Association's financial condition and a description of what these numbers mean, please visit the Financial Details section.

Deposit Rates - July 21, 2024

Your Current Location: Virginia, VA 20146


Loan Rates - July 21, 2024

Your Current Location: Virginia, VA 20146

There are currently no loan rates available for Stearns Bank National Association

Please contact the bank for questions about their loan products. In the meantime you may wish to consider these offerings:




Featured - Virginia 30 Year Fixed Mortgage Rates 2024

Lender APR Rate (%) Monthly
Payment
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Mutual of Omaha Mortgage, Inc.
NMLS ID: 1025894
6.711% 6.625%
0.63 points
$2,850 fees
$2,049 Learn More
New American Funding, LLC.
NMLS ID: 6606
6.831% 6.740%
0.88 points
$2,989 fees
$2,074 Learn More
Rocket Mortgage
NMLS ID: 3030
7.076% 6.990%
0.88 points
$2,800 fees
$2,127 Learn More
FHAloans.com
NMLS ID: Not a Lender

points
fees
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Featured - Virginia Home Equity Line Of Credit Rates 2024

Lender APR (%)? Monthly Payment? Learn More
Third Federal Savings and Loan
Third Federal Savings and Loan
See Table
7.990 %
$0 Learn More
More Info

Note to Stearns Bank National Association
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Branches

Stearns Bank National Association branches and locations in your neighborhood. Input a different zip code to find branches and locations for any neighborhood in the United States.

Your Location:
Ashburn,Virginia


Stearns Bank National Association Locations around zip code 20146




Climate Policy and Initiatives

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Financial Details

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.

Stearns Bank National Association Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Stearns Bank National Association. The data is provided by the FDIC. All banks listed on BestCashCow.com are FDIC-insured. No depositor has ever lost deposits that have been within the FDIC insurance limits.

Texas Ratio
Stearns Bank National Association U.S. Bank Average
6.9% 4.29%

The Texas Ratio compares the bank’s non performing assets (non-performing loans and real estate owned) with its tangible common equity and its loan loss reserves. A lower Texas ratio indicates better coverage of problem loans. The closer the Texas Ratio is to 1-to-1 or 100%, the less capital and reserves a bank has to absorb its loan losses.

As of March 31, 2024, Stearns Bank National Association had $25,396,000 in non-current loans and $19,206,000 in owned real estate. To cover these potential losses it had $568,138,000 in equity and $77,991,000 in loans loss reserves. That gives it a Texas Ratio of 6.9%.

Return on Equity
Stearns Bank National Association U.S. Bank Average
5.27% 10.46%

Stearns Bank National Association has a Return on Equity of 5.27% versus the BestCashCow average of 10.46%. Return on equity measures how efficiently a bank is making money from its capital. A bank with a consistently high ROE can be considered well run. A bank with a consistently low ROE can be considered poorly run.

Capitalization
Stearns Bank National Association U.S. Bank Average
17.99% 10.73%

Stearns Bank National Association has a Capitalization of 17.99% versus the BestCashCow average of 10.73. Capitalization measures how much equity capital a bank has to underpin loans and other assets on its balance sheet. The higher the capitalization number the more secure a bank is considered.

Stearns Bank National Association Balance Sheet Analysis

As of March 31, 2024, Stearns Bank National Association had assets of $3,157,327,000, loans of $2,553,576,000, and deposits of $2,328,866,000. Long-term increases in deposits shows a bank's ability to raise funds to grow its loans and assets. Loan and asset growth may rise or fall depending on a bank's strategy for growth. Sharp rises and falls in assets, deposits, and loans can be problematic, indicating a loosening of lending standards, or financial distress leading to reduced lending. A big change in these figured can also be from a bank acquisition or merger.

Summary Balance Sheet

March 31, 2024
ASSETS
Cash & Balances due from depository institutions $ 398.76 million
Interest-bearing balances $ 378.48 million
Total securities $ 83.14 million
Federal funds sold and reverse repurchase N.A.
Net loans and leases $ 2.55 billion
Loan loss allowance $ 77.99 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned $ 19.21 million
Goodwill and other intangibles $ 18.70 million
All other assets $ 35.42 million
     Total Assets $ 2.59 billion
LIABILITIES
Total deposits $ 2.33 billion
      Interest-bearing deposits $ 2.15 billion
      Deposits held in domestic offices $ 2.33 billion
      % insured (estimated) 78.53%
Federal funds purchased and repurchase agreements $ 58.23 million
Trading liabilities N.A.
Other borrowed funds N.A.
Subordinated debt N.A.
All other liabilities $ 32.08 million
      Total Liabilities $ 2.59 billion
      Shareholders’ Equity $ 568.14 million

Summary Income Statement

March 31, 2024
INCOME AND EXPENSES
Total Interest Income $ 63.70 million
Total Interest Expense $ 22.79 million
Net interest income $ 40.91 million
Provision for loan and lease losses $ 8.68 million
Total non interest income $ 3.38 million
Total non interest expense $ 25.61 million
Pre-tax Net Operating Income $ 38.64 million

Bank Loan Profile?

The top three loan types in Stearns Bank National Association’s loan portfolio are Commercial and Industrial Loans, Construction and Development Loans, and Commercial Real Estate.

Compared to other banks in Minnesota, Stearns Bank National Association has a significantly higher percent of Construction and Development Loans, Commercial and Industrial Loans on its balance sheet, potentially indicating a specialty in that lending area.

Note: Percentages may not sum to 100% due to rounding and double categorization of some loan types. All data from the FDIC. Additional information about this table.

%
Loans
%
Comparison to Other Banks
 Low   Med   High 
1-4 Family Residential Loans 0.86
Multifamily
Mortgages
1.14
Credit Card Loans 0.00
Consumer Auto Loans 0.02
Small Business Loans 2.42
Construction and Development Loans 16.46
Commercial Real Estate 11.14
Commercial and Industrial Loans 36.80
Farm Loans 0.16

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*Should any logos, images or public notes appear on this page,they do so courtesy of Stearns Bank National Association and are not subject to approval of BestCashCow. BestCashCow expressly disclaims all responsibility for this content.