WHAT’S NEW AT STEARNS BANK
May 21, 2008
Stearns Bank Arizona Welcomes Shaheen as New Chief Credit Officer & Risk Manager
Norm Skalicky, Chief Executive Officer of Stearns Bank N.A. is pleased to announce Leonard Shaheen has been named Chief Credit Officer and Risk Manager of Stearns Bank Arizona, located at 9225 E. Shea Blvd – Scottsdale, Arizona.
Shaheen brings twenty-one years of experience in the banking industry as a federal regulator. Prior to joining Stearns Bank Arizona, Shaheen was most recently a commissioned national bank examiner in the Phoenix, Arizona field office. He was responsible for providing regulatory oversight and supervision to nationally chartered commercial banks within the United States. His special area of study and training includes an in-depth experience and knowledge in evaluating credit risk, credit administration functions, and effectiveness of monitoring programs. His expertise in these areas will be a great asset to his new position at Stearns Bank Arizona.
“As I leave the regulatory environment, it is with great anticipation that I accept the challenge of narrowing my focus to an individual bank and becoming a member of the Stearns’ team, dedicated to excellence and success,” said Shaheen. “I appreciate the straightforward manner in which Stearns Bank conducts business and look forward to personally serving our customers with the exceptional service they’ve come to expect.”
Stearns Bank Arizona is part of Stearns Bank, a nationwide commercial banking company with more than one billion in assets. Stearns Bank has five other bank locations in Minnesota, a nationwide equipment finance division based in Minnesota and an Accounts Receivable Finance Division located in Utah. As an independent employee-owned bank, our trademark is we get the job done!
Contact Information:
Leonard Shaheen, Stearns Bank N.A.
480-314-4200, Email: leonards@stearnsbankaz.com
April 4, 2008
Stearns Bank Once Again Achieves Perfect Score by Bank Rating Experts
Stearns Bank has once again received a perfect score of 300 in the Bank Financial Quarterly published by IDC Financial Publishing, Inc. for the fourth quarter of 2007. This marks the 21st consecutive quarter (since 2002, Q4) Stearns Bank has received this perfect superior ranking, which measures financial strength and stability of financial institutions. On average, banks with a superior ranking have the strongest capital ratios, the best asset quality, and are the most profitable.
IDC’s Bank Financial Quarterly analyzes and ranks the quality of all commercial banks reporting to the FDIC and bank holding companies reporting to the Federal Reserve. Every quarter since 1985, they assess each institution’s strengths and weaknesses using a proprietary analysis. The proprietary analysis assesses the overall performance of over 17,000 financial institutions every quarter. From this, IDC is able to calculate over 35 key ratios and a one-number IDC quality rank from 1 (the lowest) to 300 (the highest) for each institution reporting to the federal government. The perfect score of 300 indicates Stearns Bank as one of the safest and best managed financial institutions in the United States.
“IDC is a highly respected and reliable source of business information and evaluation. We are very pleased to once again receive a perfect superior ranking by this organization,” Norm Skalicky, CEO of Stearns Bank said. “IDC’s Superior ranking reaffirms Stearns Bank’s solid financial position. It is gratifying to know that hard work and attention to detail by Stearns Bank’s employee-owners are recognized by this prestigious organization.”
Stearns Bank is an independently owned financial institution established in 1965. Stearns Bank has grown to more than one billion dollars in assets with locations in St. Cloud, Edina, Albany, Holdingford, and Upsala, MN, along with Scottsdale, AZ. Stearns Bank also has a nationwide equipment finance division based in Albany, MN and an Accounts Receivable Finance Division located in Utah.
Contact Information:
Harley Vestrum, Stearns Bank N.A.
1-800-320-7262, Email: harleyv@stearns-bank.com
March 18, 2008
Stearns Bank Confirms No Affiliation with Bear Stearns
Stearns Bank confirms that it has no affiliation with Bear Stearns. This clarification follows the recently reported buyout of Bear Stearns by JP Morgan.
Stearns Bank is an independently owned financial institution based in Stearns County, Minnesota, which is the origin of the bank name established in 1965. Stearns Bank is a nationwide commercial banking company with locations in St. Cloud, Edina, Albany, Holdingford, and Upsala, MN, along with Scottsdale, AZ. Stearns Bank also has a nationwide equipment finance division based in Albany, MN and an Accounts Receivable Finance Division located in Utah.
Stearns Bank asset totals currently exceed one billion dollars. For additional information on Stearns Bank or its affiliates, contact Harley Vestrum at 320-650-2386 or visit www.stearns-bank.com.
Contact:
Harley Vestrum, Stearns Bank N.A.
1-800-320-7262, Email: harleyv@stearns-bank.com
www.stearns-bank.com
April 2, 2007
Stearns Bank Holding Company Ranks 5th In The Nation
Stearns Bank is pleased to announce it is ranked 5th top performing bank in the nation based on ROA over a 5 year period according to American Banker Association’s ranking of U.S. Bank Holding Companies, Stearns Financial Services Inc. is a $1.5 billion national bank based in St. Cloud Minnesota. It earned the rank of # 5 out of 75 banking companies for highest 5-Year Return on Assets. In addition, Stearns was ranked #12 out of 75 named the Highest 5-Year Return on Equity.
“Consistent growth is a distinguishing hallmark of St. Cloud’s own Stearns Bank. Our ranking in American Banker’s is affirming as we continue to strive to meet relevant financial needs of companies all across the nation, It’s a lot of hard work, diligence by the bank’s employees that continues to produce superior results. Equally important, it reflects our ability to successfully navigate in a variety of economic environments. We continue to believe that generating consistent growth in earnings and reinvestment in our communities is the best way to ensure long-term value for customers and our employee owners,” said Norman C. Skalicky, Chief Executive Officer of Stearns Bank N.A.
The American Banker Highest 5-Year Return on Assets and ROE is based on bank holding companies with more than $1 billion in assets over a five-year period. American Banker bases its ranking on data from SNL Financial. For more information please call Jan Skalicky Hanson, SVP of Marketing or Norman C. Skalicky, CEO at 800-320-7262.
February 22, 2007
Stearns Bank Brings Desktop Deposit Solution For Businesses
Stearns Bank N.A. is proud to announce that it has implemented a desktop deposit product for commercial customers. BankBridge is Stearns Bank’s remote deposit product and is simple to use. The bank provides a scanner ands software making it possible for businesses to make deposits electronically, securely and efficiently without leaving their office.
This breakthrough in banking was made possible with the passage of Check 21, which allows images and copies of checks to be used clearing through the Federal Reserve. This break-through provides businesses faster availability of funds because of later bank cut off times. It also ushers in greater acceptance of electronic movement of funds and fewer people have to handle the paper check from start to finish.
Stearns Bank’s BankBridge, allows customers to scan checks with a small desktop scanner and transmit check images electronically for posting and clearing. The deposit posts to the corporation’s account and assigns available funds. Through BankBridge customers no longer have to carry check deposits to the bank, creating significant cost savings, less time away from the office, faster availability of funds and significantly improved cash management.
“BankBridge is a great example of a win-win situation,” said Jan Skalicky Hanson, Senior VP of Marketing with Stearns Bank, St. Cloud. ”The big ‘win’ is that BankBridge customers experience more efficient cash management, eliminate courier costs and time away from the office making deposit runs.” For more information please call Jan Skalicky Hanson, SVP of Marketing at 800-320-7262.
January 17, 2007
Stearns Bank Finances Affordable Housing Development of the Year
Stearns Bank N.A. is pleased to announce its association with Affordable Housing Development of the Year, Bella Castello ROEM Corporation - San Jose, CA.
Bella Castello ROEM Corp, a $30 million multi-family development in San Jose, CA was awarded 2006 Development of the Year by Silicon Valley/San Jose Business Journal Structures 2006. The project opened in June providing housing and 2,500 square feet of ground-level retail space.
Stearns Bank N.A. is a nationwide affordable housing lender and provided the construction loan. “ROEM Corp. and Stearns Bank N.A. have an outstanding working relationship. We’ve worked on several more projects for Robert Emami, President of ROEM Corp to provide affordable housing to a diverse population in the San Jose area.”
Stearns Bank gets the job done in an award winning way, providing fast & flexible financing for pre-development, construction, mini-perm, and perm loans across the country. For more information on Affordable Housing financing go to www.stearns-bank.com or call 1-800-320-7262.
