A Message from Norm Skalicky, CEO of Stearns Bank
Dear Friends and Clients of Stearns Bank,
I would like to assure you that Stearns Bank’s system will be a strong survivor in spite of troubled waters in our overall economy.
Stearns Bank is financially strong. We have always had an exceptionally strong capital position, and we have been building it to higher levels for many years. We are fortunate to have the backup and reserves necessary to withstand the economic challenges of today.
To give you an idea of our strength, we have over 23% capital in our banking system. That’s about three times the average capital of all commercial banks in the United States, four times what is considered being “well capitalized,” and almost ten times what some troubled investment banks have or had.
We have a very sound and diversified asset portfolio in about six different financial products. Also, we have no exposure to sub-prime or Fannie Mae/Freddie Mac equity investments.
In short, we value your business! We will continue to manage the bank in our usual approach to simply “get the job done!” If you have any questions, please call a Stearns Banker. We will be more than happy to talk with you about the soundness and strength of Stearns Bank.
1-800-320-7262
P.S. Please recommend us to your friends and associates. There may be higher rates being advertised by others, but your money is safe with Stearns Bank!
