Stearns Bank N. A. Acquires banks in Pine City and North Branch, MN

June 26, 2009 at 6:00 p.m. CST -- Stearns Bank N.A. headquartered in St. Cloud, Minnesota acquired Horizon Bank of Pine City and North Branch, Minnesota.  Insured depositors and loan customers of Horizon Bank will automatically become depositors and customers of Stearns Bank and will retain uninterrupted services and access to their accounts.

Stearns Bank is an independently owned financial institution established in 1912, under current ownership since 1964.  Stearns Bank has grown to more than $1 billion in assets with locations in St. Cloud, Albany, Holdingford, and Upsala MN, along with Scottsdale, Arizona.  Stearns also has a nationwide Equipment Finance division based in Albany, MN and a National Accounts Receivable division located in Utah.

Norman C. Skalicky, CEO of Stearns Bank said, "We are very pleased to have the opportunity to welcome the customers of Horizon Bank to Stearns Bank.  We have always maintained a strong capital position at Stearns Bank.  This strategy, along with the confidence provided by our regulators, is very important in these unparalleled economic times.  Stearns Bank stands ready to meet the financial needs of our communities, and we are very optimistic of the opportunities before us."

FDIC Bank Closing Information for Horizon Bank

Contact information:
Please call your branch location
Pine City (320) 629-6713
North Branch (651) 277-2265
Toll Free (888) 258-7713
Telephone Banking (877) 629-2265

Stearns Bank N.A.
4191 2nd Street South
St. Cloud, MN 56301
www.stearns-bank.com
Member FDIC.